Set up in 1964 and listed in 1965, Heineken Malaysia Berhad is one of two brewers still active in Malaysia. It owns a number of well-known alcohol brands such as Heineken, Tiger, and Guinness. The stock has been delivered good returns to shareholders, gaining approximately 10% every year since 2011. According to the management, the recent 10-year shareholder annual return of the stock was 17%. The decent record was disrupted by the unprecedented COVID-19 virus outbreak. As Malaysia fell into perpetual lockdowns or various forms of movement control orders, the company’s business was affected and looks likely to suffer in the short term. Here are eight things I learned from the 2021 Heineken Malaysia AGM. 1. Revenue decreased by 24.0% year-on-year to RM1.8 billion in 2020 due to lower sales and the seven-week suspension of its brewery operations during the year. As a result, inventories written off surged from RM2.7 million in 2019...