Jakarta - PT Multi Bintang Indonesia Tbk (MLBI) and Heineken Asia Pacific Pte Ltd (Singapore) (HAPPL) agreed to lower the royalty rate from 2.5% to 0%.

The amendment to the Trade Mark License Agreement (TMLA), dated December 22, 2014, is retroactively effective from January 1, 2022.

The decrease in royalties from 2.5% per year from revenue generated from sales of Bintang products to 0% is projected to increase net profit on a consolidated basis," said MLBI President Director Rene Sanchez Valle, as quoted in the IDX information disclosure in Jakarta on Wednesday (6/29).

A similar party, Heineken NV, controls the company and HAPPL.