International brewing group Carlsberg will increase its shareholding in associated company Carlsberg Brewery Malaysia Berhad with the purchase of a stake held by Hap Seng Consolidated Berhad.
The purchase will give Danish-based Carlsberg a shareholding of 50 per cent in the company, which is listed on the Kuala Lumpur Stock Exchange. The 1999 unaudited net result for Carlsberg Malaysia was MYR 138m (approx. DKK 269m) compared to MYR 114m for the previous year.
Carlsberg Malaysia was formed in 1969 as a joint venture between Carlsberg and The East Asiatic Company. The East Asiatic Company later sold its stake to Hap Seng.
Carlsberg Green Label is the leading lager brand in the country with a market share above 60 per cent. Exports account for about 15 to 20 per cent of local production.
Carlsberg Malaysia announced in October last year that it plans to invest more than MYR 135m (approx. DKK 263m) over the next three years in plant expansion to increase production capacity and operational efficiency. The two phase expansion programme involves the construction of a new brewhouse to double existing capacity.
The agreement is conditional upon and will be subject to local regulatory approval.
For further information contact:
Margrethe Skov
Public Affairs Manager
Tel: + 45 33 27 14 10