Carlsberg Malaysia appoints Seri Chor Chee Heung as chairman, reports growth of 37.8% revenue in Q1

MALAYSIA – Carlsberg Brewery Malaysia has announced the appointment of Tan Sri Dato’ Seri Chor Chee Heung as Chairman of the Group succeeding Datuk Toh Ah Wah.

The company also appointed Tan Sri Chor to the position of member of the Nomination & Remuneration Committee and Member of the Audit Committee.

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Toh Ah Wah will resign from his roles as Chairman and Independent Non-Executive Director effective 1 June 2022 after leading the group for over 5 years.

Datuk Toh Ah Wah commented that Tan Sri Chor has had an outstanding track in his career with the Government of Malaysia in the past and vast experience in the corporate world that will help him steer the Group forward.

He also added that the group would really need his skills as 2022 is the year of transition to a new five-year strategy – SAIL’27, which will begin in 2023.

Tan Sri Chor said: “I am honored to be appointed as Chairman of the Carlsberg Malaysia Group. I admire the dynamism and resilience of the Group, its committed people, and its innovative brand portfolios in both Malaysia and Singapore.

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“I strongly believe in the Group’s purpose of Brewing for a Better Today and Tomorrow and look forward to supporting the Group in driving its growth momentum in line with its SAIL’27 strategy and sustainability priorities.”

At the same time, Carlsberg Brewery Malaysia has posted a robust performance in the first quarter of its financial year 2022.

The group has reported a net profit of RM91.6million (US$20.84 million) for the first quarter ended March 31, 2022, which is a 37.8% surge compared with RM66.5million (US$15.13million) in the 2021 comparative quarter.

The group’s revenue has also increased by 22.9% to RM653.9million (US$148.78million) compared with RM532million (US$121.05 million) in the 2021 corresponding quarter.

The revenue for both the Malaysia and Singapore operations in this first quarter grew by 27.4% and 13.8% year-on-year to RM454.1million (US$103.32 million) and RM199.7million (US$45.44 million) from RM356.5million (US$81.14 million) and RM175.5milion (US$39.93 million), respectively.

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Group managing director Stefano Clini noted that the group’s premium brands were gaining momentum with new variant launches and efforts will be continued to accelerate the growth of its premium brands.

Clini further expressed optimism that the reopening of entertainment outlets should create further momentum in the group’s on-trade business.

 Moving into Q2, Clini revealed that his company betting on premiumization and innovation to continue to deliver growth on the top and bottom line.

Carlsberg Malaysia also plans to continue intensifying cost-control management and reinvestment in brands to fuel growth in Q2 and beyond.

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