Malaysia: Carlsberg Brewery Malaysia sales to hold despite price hikes, analysts said

Carlsberg Brewery Malaysia Bhd is not expected to see a steep decline in sales despite higher product prices in the second half of 2026 (2H FY26), as its cost optimisation and marketing initiatives could mitigate the impact, The New Straits Times reported on August 30.

RHB Research analysts note that the overall consumption environment could get more challenging due to the impact from the Middle East conflicts on supply chain and production costs.

"Looking ahead, management focus will be on cost optimisation and prudent resource allocation to mitigate the challenging market environment," it said in a note.

It added that the brewer has observed a pick-up in contraband incidence, as the cautious consumer sentiment and spending may have given rise to a more conducive environment for illicit trades to gain market share.

This is also after taking into account the widened price gaps following the excise duty hike at the end of 2025.

"We understand that management is working closely with the relevant authorities to facilitate the clampdown efforts," it said.

02 September, 2026