PETALING JAYA: Heineken Malaysia Bhd expressed that the uncertainties relating to the Covid-19 pandemic and its lingering threat has yet to pass, according to its managing director Roland Bala.
Yesterday, the group posted a net loss of RM18.2 million for its second quarter of 2020 as it saw the adverse impact of the pandemic to its revenue.
“We will continue to be cautious because the impact from Covid-19 on the overall national economy and how long this pandemic will last remain unknown. So, we need to stay prudent in terms of how to run the business,” he told the media at a virtual media briefing today.
Roland noted that the Covid-19 impact will continue to affect not only Malaysia but also the global economy, however, it is not the only factor affecting the brewer.
In fact, he revealed that Heineken also grapples with a declining consumer sentiment as well as political uncertainty in Malaysia. However, the managing director has found a silver lining amidst the cloud.
For the quarter, he pointed out that the bulk of the group’s losses was due to a RM43 million loss reported in April.
“Subsequently, in the month of May and June we have managed to recover already.”