Annual Review 2021

ANNUAL REVIEW 2021
Good Food Good Life, everyday everywhere

UNLOCKING THE POWER OF FOOD
TO ENHANCE QUALITY OF LIFE FOR EVERYONE,
TODAY AND FOR GENERATIONS TO COME.
Inside This Report
Nestlé (Malaysia) Berhad

Throughout our journey, Nestlé (Malaysia) Berhad has been driven by our purpose of unlocking the power of food to enhance quality of life for everyone, today and
for generations to come. This single-minded commitment has guided us forward since our establishment 110 years ago in 1912. Standing firm today as Malaysia’s
leading food and beverage (F&B) manufacturer, we continue to work every day to bring our purpose to life.
Our Annual Reporting Suite 2
About This Report 3
Our Business 4-9

Our Presence
Organisation Structure
Fast Facts
Awards and Achievements
Business Value Creation Model
Creating Shared Value 10
Message from Our Chairman and Our CEO 12

1
Management Discussion and Analysis 15
Our Product Portfolio 20
Our Business Review 22
Our Leadership 46 - 59
Board of Directors and Company Secretary
Executive Leadership Team
Nestlé Leadership Team
Corporate Information 60
Annual Review
Corporate Directory 62
Our Annual Reporting Suite
CONSCIOUS OF THE KEY ROLE THAT OUR SHAREHOLDERS AND STAKEHOLDERS PLAY IN OUR SUCCESS, OUR ENGAGEMENT PLATFORMS ENABLE US TO
EFFECTIVELY CONVEY OUR KEY OBJECTIVES AND CONTINUED DEVELOPMENT ON A CONSISTENT BASIS. THIS IS PART OF OUR BEST-PRACTICE APPROACH
TO TRANSPARENCY AND CORPORATE GOVERNANCE.
In line with this, our Annual Reporting Suite provides a comprehensive account of the Group’s performance. This encompasses our growth strategies, corporate governance processes,
operational and financial performance, and our progress in our sustainability agenda, set out in three dedicated reports:
These are complemented by our quarterly financial results, material announcements to Bursa Malaysia Securities Berhad
Annual Review 2021 and press releases, which can be accessed via our corporate website at www.nestle.com.my.
In line with our sustainability agenda, for this year’s Annual

Reporting Suite, we have transitioned to a digital-first approach for Online Annual Reporting Suite
Scan the QR code below or
environmental purposes. This is part of our journey which began
Book 1 visit nes.tl/AnnualReportMY to view
five years ago to reduce our printed copies. As a result of this our 2021 Annual Reporting Suite
proactive move, we have since saved approximately 38.5 tonnes online.
of paper.
Provides a detailed overview of our business strategy and REPORTING FRAMEWORK

performance, financial results, achievements of our brands
• Main Market Listing Requirements of Bursa Malaysia Securities Berhad
and other notable highlights for the year.
• Corporate Governance Guide by Bursa Malaysia Securities Berhad
• Companies Act 2016
2 Corporate Governance & Financial Report 2021 • Malaysian Code on Corporate Governance
• International/Malaysian Financial Reporting Standards
• International Integrated Reporting Framework
• Global Reporting Initiative (GRI) Standards
Book 2 • International Integrated Reporting Council guidelines
ASSURANCE
• Internal controls and management assurance
Presents the Group’s financial statements for the year and • Compliance and internal audit reviews
the robust frameworks we have in place for transparency and • External audit by Ernst & Young PLT on financial information
corporate governance best practices.
• External audit by PricewaterhouseCoopers on the Nestlé in Society Report 2021
Nestlé in Society Report 2021 REPORTING SCOPE AND BOUNDARIES

Comprising the reporting period January to December 2021, this Annual Report contains a detailed report on the
performance, operations and activities of Nestlé (Malaysia) Berhad (“Company”) and our subsidiaries (“Group”) for the
financial year under review.
Book 3
FORWARD-LOOKING STATEMENTS
This Annual Report may contain forward-looking statements with respect to current views, plans and objectives in relation
Annual Review
to the operations and business of the Company. By their nature, these forward-looking statements are subject to potential
Highlights our sustainability agenda, the material areas we risks and uncertainties that may emerge in the future, which could cause actual results and performance to differ materially
are focused on and where we stand in our journey to create a from what is expressed or implied by these forward-looking statements. The Group undertakes no obligation to update or
positive impact on our society and environment.
revise these forward-looking statements, whether due to new developments, future events or otherwise.
About This Report

3
Our 2021 Annual Review is the primary source of information conveying our strategic direction and key priorities underpinning our financial ICONS IN THIS REPORT
performance, as well as our core pillars of growth. This also comprises operational, marketing and sales initiatives during the year.
AR Annual Review 2021
CGFR Corporate Governance & Financial Report 2021

Within this report, the Message from Our Chairman and Our Chief Executive Officer (CEO) section provides a holistic perspective on how we
performed in 2021 amidst the challenges and opportunities of the market environment, benchmarking this in relation to our value creation model. NIS Nestlé in Society Report 2021
The CEO’s Management Discussion and Analysis section then delves into how the Company performed financially and operationally, highlighting
Annual Review
Directs the readers to pages or other
growth drivers for the year. Honing in on our brands, our Business Review section focuses on key strategies and initiatives undertaken. supplementary reports with more information
The Annual Review was approved by the Board of Directors of Nestlé (Malaysia) Berhad (“Board”) on 8 March 2022.
Our Business
OUR PRESENCE
Nestlé has grown with Malaysia since 1912 and has continued to strengthen
Selangor
Head Office over the years, proving resilient even in the midst of the COVID-19
3 factories pandemic. Testament to this, building on our leadership position as
13 sales offices the largest F&B manufacturer in Malaysia, we further expanded
1 NESPRESSO Nano Boutique
our nationwide sales network in 2021 to a total of 58 sales
1 Nestlé Distribution Centre
offices in Peninsular Malaysia and Borneo. Led by our
Kuala Lumpur head office in Selangor and producing a wide range
1 sales office of high-quality products at our six manufacturing
1 NESPRESSO Boutique factories, we continue to champion our mission of
1 NESPRESSO Pop-up Boutique
Good Food, Good Life.
Negeri Sembilan
2 factories
4 sales offices
Malacca
2 sales offices
Johor Perlis
Sabah
9 sales offices
Kedah
Kelantan
Pahang
6 sales offices Penang
4
Terengganu
Perak
Terengganu
1 sales office
Selangor Pahang
Sarawak
Kelantan
3 sales offices
Negeri Sembilan
Kuala
Lumpur
Perak Malacca
6 sales offices
Johor
Penang
4 sales offices
Kedah
2 sales offices
Perlis
1 sales office
Sarawak
1 factory
4 sales offices
Sabah
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2 sales offices
In April 2021, we relocated our head office to 1 Powerhouse, Bandar Utama as part of the
Company’s ongoing drive to embrace the future of work through purposeful workplace design that
Head Office Factories Sales Offices Others also builds on the learnings gained throughout the COVID-19 pandemic.
ORGANISATION STRUCTURE
CHIEF EXECUTIVE OFFICER

Juan Aranols
SHARED SERVICES LOCALLY MANAGED BUSINESSES REGIONALLY & GLOBALLY MANAGED BUSINESSES
Chief Financial Officer Business Executive Officer, MILO Business Executive Officer, NESTLÉ PROFESSIONAL
Craig Connolly Ng Su Yen Yit Woon Lai
Executive Director, Technical & Production Business Executive Officer, Foods Business Executive Officer, NESTLÉ HEALTH SCIENCE
Alessandro Monica Geetha Balakrishna Jason Jezewski
Executive Director, Human Resources Business Executive Officer, Beverages Business Executive Officer, Nestlé Nutrition
Shahzad Umar Othman Chraibi Wong Eu Khean
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Executive Director, Supply Chain Business Executive Officer, Ready-to-Drink Business Executive Officer, NESPRESSO
Salman Nazir April Wong Floriane Novello
Executive Director, Sales Business Executive Officer, Milks Business Executive Officer, Nestlé Breakfast Cereals
Chew Soi Ping Lam Pui Yuee Laurent Therond
Executive Director, Corporate Affairs Business Executive Officer, Ice Cream

Dato’ Adnan Pawanteh Teo Heng Keat
Executive Director, Legal & Secretarial Business Executive Officer, Confectionery

Tengku Ida Adura Tengku Ismail Frédéric Porchet
Executive Director, Communications

Chow Phee Chat
(operating out of Singapore)
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Our Business
FAST FACTS
MILO HEAD OFFICE LOCATED IN

Public listed on Bursa Malaysia since 1989
BANDAR UTAMA,
PETALING JAYA,
EMPLOYS
100
FOODS
% Turnover of
SELANGOR RM5.7 BILLION
COFFEE
MALAYSIAN MANUFACTURING in 2021
Operates six factories and one WORKFORCE
national distribution centre

NESTLÉ HAS BEEN
READY-TO-DRINK
PLANT-BASED
The biggest OPERATING COMMERCIALLY
IN MALAYSIA SINCE 1912
MEAL
SOLUTIONS
Halal producer in the
OUR PORTFOLIO
Nestlé world
ICE CREAM
EMPLOYS
5,253
CONFECTIONERY
PEOPLE AS AT
31 DECEMBER 2021 Winning the hearts and minds of Malaysians through our localised household brands and product offerings.
MILKS
IN 2021, WE SPENT ALL OUR
NUTRITION
Market capitalisation of RM93 million on total COVID-19 500 PRODUCTS
RM31.47 operational expenditure ARE HALAL-
CERTIFIED,
(including on workforce protection efforts)
BILLION
HEALTH SCIENCE
RM11.6 million on community INCLUDING MALAYSIAN FAVOURITE,

Annual Review
as at 31 December 2021 LOCALLY-MADE HOUSEHOLD

NESTLÉ
PROFESSIONAL
relief efforts BRANDS SUCH AS MILO, MAGGI
AND NESCAFÉ
AWARDS AND ACHIEVEMENTS
1 Putra Brand Award 2021

Nestlé Malaysia’s popular brands continued to win the hearts of consumers at the Putra Brand Awards 2021. MILO bagged the
Platinum award in the Beverage (Non-Alcoholic) category while NESCAFÉ won Silver, MAGGI and KIT KAT tied for Gold in the
Foodstuff category with Nestlé Ice Cream taking Bronze, and NESTLÉ OMEGA PLUS clinched Bronze in the Beverage (Dairy)
category. MILO also received the coveted Putra Marketer of the Year award and earned a place in the Putra Hall of Fame for
its consecutive wins through the decades.
2 The Edge Billion Ringgit Club (BRC) 2021

The Edge BRC recognises Malaysia’s top-performing companies with a market capitalisation of above RM1 billion. Winning the
award for Best Corporate Responsibility Initiatives - Big Cap Companies in 2021 made Nestlé Malaysia the only company to
be on The Edge BRC’s Top 25 list every year since the awards’ inception in 2010.
3 Randstad Employer Brand Awards 2021

For the fifth year running, Nestlé Malaysia was among the top three Most Attractive Employers in Malaysia, emerging as first
runner-up for the first time in the Randstad Employer Brand Awards 2021.
4 Graduates’ Choice Award (GCA) 2021

With the votes of university students, Nestlé Malaysia was awarded the Champion for the FMCG category in Talentbank’s GCA,
one of the most authoritative graduate employer branding awards in Asia.
2 5 GRADUAN Brand Awards 2021

Nestlé Malaysia was named Malaysia’s Most Preferred Employer for the Fast-Moving Consumer Goods (FMCG) category for
4 7
the second consecutive year at the GRADUAN Brand Awards 2021 and first runner-up for Overall Most Preferred Employer.
6 Zone AOA ExtrAOArdinary Sustainability Awards

1 Celebrating achievements within Nestlé’s Zone Asia, Oceania and sub-Saharan Africa (AOA), Nestlé Malaysia and Singapore
were recognised as Pioneer Market of the Year for our pioneering sustainability initiatives, such as MILO UHT transitioning
to 100% paper straws, Project RELeaf and HARVEST GOURMET Plant-Based Meal Solutions (PBMS) which also won in the
6 Communications category for its successful launch.
7 National Annual Corporate Reporting Awards (NACRA) 2021

Nestlé Malaysia received the NACRA Gold Award for Best Sustainability Reporting, which assesses companies based on key
criteria such as long-term value creation to stakeholders and quality and depth of information provided, alongside the NACRA
Silver Award for Best Designed Annual Report in 2021.
8 LazMall Brand of the Year

Nestlé Malaysia bagged LazMall Malaysia’s Brand of the Year Award, deeming Nestlé as the most iconic brand success on the
e-commerce platform. This resulted from successful collaborations with Lazada throughout the year, including a nationwide
vaccination campaign, conducting Lazada’s first livestream brand launch during Super Brand Day 2021, and launching HARVEST
GOURMET as Nestlé Malaysia’s first plant-based range, amongst others.
3 9 Malaysia’s 100 Leading Graduates Employers Award (M100) 2021

Gathering votes from over 32,100 students and graduates across Malaysian universities in the country’s longest-running annual
graduate recruitment survey, M100 recognised Nestlé Malaysia as Graduate Employer of Choice in the FMCG category for
the ninth year running.
Annual Review
10 United Nations (UN) Women 2021 Malaysia Women Empowerment Principles (WEPs) Awards
5 Testament to our commitment to empowering women, Nestlé Malaysia won first runner-up for a Gender Inclusive Workplace
in the UN Women 2021 Malaysia WEPs Awards, which celebrate companies with organisational practices that inspire
advancements in gender equality.
Our Business
BUSINESS VALUE CREATION MODEL
OUR OUR OUR

STRATEGY INPUT IMPACT AREAS
1 2 3 4 F Financial Capital (as at 31 December 2021)

Channelling capital and funding through the pandemic to ensure continuous supply to
ENHANCE QUALITY OF LIFE FOR EVERYONE, TODAY AND FOR GENERATIONS TO COME
consumers, protect safety of all employees and support Malaysians in need.
INDIVIDUALS & FAMILIES

• Market capitalisation: RM31.5 billion
• Shareholder equity: RM582.7 million
• Share capital: RM267.5 million
• Total assets: RM2.98 billion
H Human Capital
Leveraging expertise, experience and insights from our diverse and engaged talent
pool to create shared value.
• 5,253 employees across the organisation
• 35% female employee representation
• 100% local manufacturing workforce
UNLOCKING THE POWER OF FOOD TO

• Comprehensive suite of offline and online training and development initiatives
Leading the industry’s way into a greener future
Continue nurturing love and trust in our brands
O Operational Capital
Driving sustainable and profitable growth
Continuously investing into avenues for future growth and producing safe, high-quality
Enhancing capabilities for the future
products for consumers.
OUR COMMUNITIES
8 • Six factories across Malaysia
• Adhere to the highest food safety and quality standards
(i.e. ISO 9001:2015, FSSC 22000, GLOBE Quality Monitoring Scheme, Quality
Compliance Verification)
• Nestlé’s Global Halal Centre of Excellence
• Largest Nestlé Distribution Centre in Asia located in Selangor, with state-of-the-art
digital technology at our Transportation Hubs
M Sales & Marketing Capital

Agility and flexibility in executing our robust marketing strategies and driving
excellence in sales execution for growth.
• Expanding product distribution across geographies and channels
• Nurturing brand love by leveraging new innovative approaches to engage consumers
• Executing marketing campaigns that closely resonate with all Malaysians
S Social & Relationship Capital

Pledging commitments to address issues material to the business to continue
THE PLANET
upholding the trust of our valued stakeholders.
• Robust product innovation pipeline to deliver sustainable, healthier and more
affordable nutrition
• Nestlé Nutritional Profiling System to assess the nutritional value of our products
• Expanding Farmer Connect programmes to improve farmers’ livelihoods
N Natural Capital
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Channelling resources towards shaping a greener and more sustainable future for all.
• Leading efforts to reduce, remove and replace the non-recyclable materials used in
packaging
• Directing resources to tackle climate change across our value chain
OUR OUR HOW WE SHARE
VALUE CHAIN OUTPUT THE VALUE WE CREATE
1
Financial Capital
Delivering resilient business performance in a challenging environment. Shareholders & Investors

Suppliers • Profit after tax: RM569.8 million Offer competitive shareholder
• Revenue: RM5.7 billion returns and stable investment
propositions.
• Total proposed dividend payout: RM2.42 per share
• Basic earnings per share: RM2.43
• Total dividends paid and proposed: RM567 million 2
Employees
Human Capital Provide decent employment
Factories
opportunities in an environment
Strengthening the business, spurring innovation and driving positive change to create a thriving business.
where people are enabled to thrive.
• One of the top three Most Attractive Employers in Malaysia by Randstad for the fifth consecutive year
• 51% leadership positions held by women
3
• Increasing female representation in Sales, Supply Chain and Technical & Production
• Achieved cumulative attendance of 26,439 in training to upskill our employees Communities
Transportation & Uplift rural livelihoods by

Warehouses Operational Capital increasing income generation.
9
Scaling up manufacturing capabilities and agility in producing new innovations and adhering to the most stringent hygiene
4
and safety standards.
• Established first Nestlé PBMS manufacturing facility in Southeast Asia Customers & Retailers
• Portfolio of more than 500 high-quality, Halal-certified products
Offer a diverse product portfolio to
• Export to more than 50 countries worldwide meet the needs of their shoppers.
Marketing & • Implementation of Transportation Hubs to reduce carbon dioxide emissions by 1,000 tonnes per annum
Sales
5
Sales & Marketing Capital
Consumers &
Nurturing strong brand loyalty amongst consumers and delivering growth for the long term. General Public
• Won seven Putra Brand Awards for MILO, MAGGI, NESCAFÉ, Nestlé Ice Cream, NESTLÉ OMEGA PLUS and KIT KAT Provide healthier and tastier
• Best-in-class sales execution and product variants across nine food and beverage categories product options to inspire people
to live healthier lives, supported
Consumers via education on nutrition and
Social & Relationship Capital
sustainability-related topics.
Accelerating actions to promote better nutrition, health and wellness, support our farmers and uplift communities in need.
• Educated over 110,000 students on good nutrition and active living through Nestlé For Healthier Kids since 2010 6
• 69% of our products sold benchmarked against the Nestlé Nutritional Profiling System
• Enhanced the livelihoods of 556 farmers through our Farmer Connect initiatives Government, Regulatory
Bodies & Non-Governmental
Raw Organisations (NGOs)
Materials Natural Capital
Annual Review
Operate responsibly to contribute
Delivering on our commitments on environmental sustainability. to socioeconomic growth through
• Planted 1 million trees through the Kinabatangan RiLeaf Project and embarked on Project RELeaf to plant 3 million trees by 2023 job creation and continuous
• 74% of our total plastic packaging is designed for recycling investment.
Creating Shared Value
As the Good Food, Good Life company, we aim to deliver products that nourish individuals and families and fulfil ever-changing needs and preferences, while advancing the health of our planet.
In working towards this, we are dedicated to making a positive difference within and beyond our business, driven by our Creating Shared Value (CSV) philosophy.
With CSV at our core, this guides us to be a force for good in the world by creating long-term value for our stakeholders and society as part of our journey towards sustainable growth. In addition
to contributing to environmental preservation, our CSV approach enables us to unlock the power of food to enhance the quality of life of millions of people. This includes the consumers who
have placed their trust in our brands, the farmers and partners throughout our value chain, as well as our Nestlé workforce.
FOR INDIVIDUALS AND FAMILIES
Guiding individuals and families toward happier and

healthier lives through innovative product development that
delivers high-quality, accessible and affordable nutrition to
fulfil the health needs and demands of our consumers.
FOR OUR COMMUNITIES
Develop thriving and resilient communities and supply

10 chains by spearheading rural development initiatives and
advocating for human rights alongside best practices in
compliance across our value chain, all of which helps build
better livelihoods for the people connected to our business.
FOR THE PLANET
Upholding sustainability in our business and reducing

the environmental impact of our operations by optimising
resources and implementing innovative solutions to address
environmental issues such as climate change and plastic
Despite difficulties to access planting sites amidst lockdowns, we used this time to nurture seedlings in preparation
pollution. for upcoming RELeaf planting activities, to realise our objective of 3 million trees by 2023.
Premised on our CSV approach and the United Nations’ 17 Sustainable Development Goals (SDGs), we have outlined clear commitments and targets to ensure transparency as we chart our
progress each year. With CSV instilled in our 5,253 employees and over 30 brands in Nestlé Malaysia, we are moving forward as a force for good, enhancing lives across the nation.
Annual Review
OUR PURPOSE
UNLOCKING THE POWER OF FOOD TO ENHANCE

QUALITY OF LIFE FOR EVERYONE, TODAY AND
FOR GENERATIONS TO COME
OUR 2030 GLOBAL AMBITIONS
FOR INDIVIDUALS AND FAMILIES FOR OUR COMMUNITIES FOR THE PLANET
Enabling healthier and happier lives Helping develop thriving, resilient communities Stewarding resources for future generations
To help improve 30 million livelihoods in

To help 50 million children To strive for zero environmental
communities directly connected to our 11
lead healthier lives impact in our operations
business activities
OUR IMPACT AREAS
Offering tastier and healthier choices Enhancing rural livelihoods Caring for water
Inspiring people to lead healthier lives Respecting and promoting human rights Acting on climate change
Building, sharing and applying nutrition knowledge Promoting decent employment and diversity Safeguarding the environment
OUR CSV PILLARS
Nutrition, Health and Wellness Rural Development, Our People Water, Environment, Climate
THROUGH OUR AMBITIONS, WE ARE SUPPORTING THE SDGs
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Message from Our Chairman and Our CEO
Dear shareholders,
The year 2021 continued

to bear the brunt of
COVID-19 as new variants
emerged, leading to
further disruptions on a
global scale. Amidst this
volatile backdrop, Nestlé
Malaysia demonstrated our
perseverance by sharpening
our focus towards the
fundamental priorities that
have driven us since the
onset of the pandemic. By
safeguarding our people and
business partners, ensuring
12
business continuity to
deliver essential foods and
beverages to Malaysians
and caring for communities
in need, the business has
remained resilient through
this tough period.
YAM Tan Sri Dato’ Seri Syed Anwar

Jamalullail
Chairman (Right )
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Juan Aranols
Chief Executive Officer (Left )
SHAPING A SUSTAINABLE FUTURE
While movement restrictions and lockdown periods did pose
challenges, our aspirations to shape a greener future for all remained
undeterred, and we made solid progress during the year. In line with
our global ambitions of achieving net zero carbon emissions by 2050,
as well as 100% recyclable or reusable packaging by 2025, key areas
of focus this year included our reforestation efforts, plastic circularity
and packaging transformation initiatives.
EXPANDING OUR PRESENCE

Building on our well-established track record in Malaysia since 1912,
our commitment to growing alongside the nation remains steadfast,
with Malaysia (along with the Singapore Region) becoming the
second largest Nestlé business in ASEAN. We continued to invest in
the future with a capital expenditure of RM275 million in 2021. This
investment was primarily utilised to scale up production capacity in
several of our manufacturing facilities as well as to enter into new
categories such as Plant-Based Meals. We also installed technological
upgrades for increased productivity and efficiency, as well as adopted
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state-of-the-art automation and digitalisation.
FINANCIAL PERFORMANCE
Against the backdrop of the pandemic, the Group demonstrated
ADAPTING THROUGH UNCERTAINTIES resilience, clocking in improved results with sales of RM5.7 billion
for 2021, driven by improved domestic and export sales. Profit
As the challenges of the pandemic persisted, the impact was felt across the world throughout much made progress, in spite of recording COVID-19 related expenses of
of 2021. From a resurgence of COVID-19 cases in many countries and subsequent re-introduction RM93 million during the year to keep our people and business partners
of pandemic containment measures, in addition to global supply chain disruptions, the uncertain safe, while ensuring supply continuity and supporting vulnerable
environment indeed weighed down economic recovery. communities.
However, as global vaccination programmes progressed, prospects too improved progressively throughout the DIVIDEND
year. This held true in Malaysia as the national vaccination rate continued on an uptrend and economic activities We remain committed to create share value for our shareholders
resumed, with the Movement Control Order (MCO) lifted in phases. through a consistent dividend policy. In line with this, the Board
declared a third interim dividend of RM1.02 per share for the financial
In the F&B industry, while out-of-home (OOH) channels remained significantly affected for the better part of year ended 31 December 2021. This brings total dividends for the year
2021, the easing of restrictions resulted in an encouraging trajectory for OOH businesses. Testament to our ability to RM2.42 per share, a healthy dividend payout within the context of
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to remain agile within the dynamic business environment, heightened in-home consumption amid pandemic the pandemic.
restrictions also opened up new opportunities for growth that we were able to tap into. This helped to mitigate the
impact on our OOH channels.
Message from Our Chairman and Our CEO
CORPORATE GOVERNANCE UPLIFTING COMMUNITIES

We are strong proponents of best practices in corporate governance, enabling us to uphold our As part of our ongoing drive to aid vulnerable communities in Malaysia, we invested more than
trusted reputation. During the year, we further enhanced our processes by ensuring adherence RM11.6 million in community relief efforts in 2021. This was channelled towards supporting
with the updated Malaysian Code on Corporate Governance 2021. This is aimed at strengthening frontliners and those affected by COVID-19, along with other disruptions such as the unprecedented
Board oversight, tightening Board policies and processes related to director selection, nomination floods in December 2021. This also included our employees and business partners, who were also
and appointment, integrating sustainability initiatives in the Company’s operations and strategy, as provided with assistance.
well as encouraging robust corporate governance practices.
AWARDS
As we continue to steer the Group forward, the Board would like to take this opportunity to thank In recognition of our achievements during the year, Nestlé Malaysia was honoured to be the recipient
Dato’ Mohd. Rafik Bin Shah Mohamad and Dato’ Dr. Nirmala Menon, who retired from the Board in of a number of accolades. This included the NACRA 2021 Gold Award for Best Sustainability
2021. Our sincere appreciation for their dedication and invaluable contributions during their tenure. Reporting, as well as the NACRA Silver Award for Best Designed Annual Report. Meanwhile,
testament to our strong employer branding initiatives, we were named the top employer of choice in
Following this, the Group welcomed new Board members, YM Dr. Tunku Alina Binti Raja Muhd. Malaysia’s fast-moving consumer goods industry in the GRADUAN Brand Awards 2021, Graduates’
Alias and Mr. Chin Kwai Fatt, bringing a wealth of experience as seasoned professionals. Mr. Chin Choice Awards 2021 and Malaysia’s 100 Leading Graduate Employers Award 2021. Several of
was also appointed as Audit Committee Chairman, taking the helm from Dato’ Mohd. Rafik. our market-leading brands won industry recognition in the Putra Brand Awards 2021, with MILO
named Putra Marketer of the Year and earning a place in the Putra Hall of Fame.
SUPPORTING THE MALAYSIAN NATIONAL VACCINATION PLAN
AR For further details on awards received during the year, please refer to page 7 of this report.
Recognising COVID-19 vaccination as a critical pillar to save lives and turn the tide in the
battle against the pandemic, we provided our support for the National COVID-19 Immunisation OUTLOOK
Programme. This included mobilising a campaign to reward Malaysians with free e-vouchers Looking ahead, the current volatile climate is set to persist with multiple external challenges,
14
for those that registered for vaccination as well as distributing complete meals and drinks for including rising commodity prices and a complex international geopolitical context. Nevertheless,
frontliners deployed at several selected Vaccination Administration Centres. In addition, we gave while uncertainties are present, we look ahead to the future with greater optimism as the world
out Nestlé Cares Goodness Packs for vaccine recipients, to encourage people to get vaccinated as transitions to the endemic phase of COVID-19. Adapting to this new normal, we will remain vigilant
well as support them with sustenance during their recovery period, which also garnered positive to protect our people as well as ensure a steady supply of F&B products to serve the needs of
organic traction on social media. Malaysians.
As we drive the sustainable, profitable growth for the Group, we are also focused on achieving our
sustainability goals. On this note, we are pleased to have kickstarted 2022 by transitioning to 100%
renewable electricity for all our operations in Malaysia. We are also progressing in our journey
towards regenerative food systems, with a clear framework in place to accelerate the adoption of
these practices in our farming ventures in Malaysia.
As always, we are deeply honoured by the trust placed in us by Malaysians, who have continued to
demonstrate their love for our brands during these tough times. We remain committed to meet their
evolving needs through our diverse portfolio of great-tasting, nutritious, high-quality products.
We would also like to express our appreciation to our customers, suppliers, business partners and
shareholders for their loyal support. Our thanks as well to the entire Nestlé Malaysia family for
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their steadfast dedication, from our Board of Directors to our Management Team and employees.
Together, we have emerged as a stronger and more resilient team, reaffirming our purpose as we
[Centre] Juan Aranols alongside Vaccination Administration Centre volunteers happy to receive
Nestlé RTD products at IDCC, Shah Alam.
chart a path towards a brighter and more resilient future for everyone.
Management Discussion and Analysis

“By staying focused on what mattered, Nestlé
Malaysia has been able to manage the ongoing
challenges of the pandemic in 2021, accelerating
growth and improving year-on-year profitability,
while supporting the community in times of need and
accelerating our sustainability efforts.”
Juan Aranols
Chief Executive Officer
FINANCIAL REVIEW
Through 2021, the second and hopefully final year of the pandemic, we
remained focused around the three key priorities we had stated in 2020:
protecting our people, ensuring a steady supply of food and beverages to
Malaysians and support to the community in multiple ways. All this was to
be done while accelerating our efforts to mitigate the environmental impact
of our operations.
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We were able in the above context to accelerate growth to reach sales of RM5.7
billion, 5.9% increase from 2020. This was contributed by both domestic and
export sales, which grew by 6.2% and 5.0% respectively. OOH channels, in
spite of the long lockdown periods throughout the year, started their recovery
which accelerated in the fourth quarter as the MCO was lifted. Overall, solid
growth in combination with our disciplined approach to cost management
and the partial mitigation of the impact from commodity headwinds allowed
us to record a recovery in profit after tax of RM569.8 million for the year, up
by 3.1%, while profit before tax stood at RM751.8 million (+3.7% increase).
BUSINESS & OPERATIONAL REVIEW

In navigating through the second year of the pandemic, we stayed focused
in protecting the business core, once again ensuring flawless commercial
execution across all channels and retailers.
Indeed, through our sales and distributor network which allows us to cover
the full spectrum of channels and geographies across the country, our highly
capable and committed sales team was able to ensure the presence in-
Annual Review
store of all our brands, serving the needs of our customers and consumers.
Amidst the many restrictions during the pandemic, this was key to ensure
the availability of our products across the nation.
Likewise, our industrial sites and supply chain operations allowed us to fulfil the solid demand for our brands, even in the most difficult moments of the lockdown, when only 60% of the
workforce was allowed to operate on-site. This constrained operational environment makes even more remarkable the progress achieved in executing major investments across our various sites
during 2021, reinforcing the foundations and our footprint to be able to support growth through the coming years.
As we are now watching the light at the end of the pandemic tunnel, I would want to acknowledge the impressive participation of all our teams in the National Vaccination programme, as well
as our effort to encourage Malaysians to get vaccinated through our national communications campaign incentivising Malaysians to register for vaccination and offering e-wallet vouchers worth
a total of RM500,000 as rewards. We had also the privilege of supporting frontliners by providing meals at selected Vaccination Administration Centres.
In addition to focused execution to ensure the steady supply of our core products, we also paid close attention to emerging consumer trends, and this allowed us to introduce a stream of new
products that contributed incremental sales and opened new avenues to ensure future growth. You can see many of them referred to in the individual business review section later in this report.
Allow me to refer in particular to the new platforms we have launched to address the growing interest in healthier and more sustainable lifestyles, especially important for the new generations.
This realisation is behind our entrance into the plant-based space, with the opening of our plant-based meal solution manufacturing facility in Shah Alam in March 2021, and the launch of
our HARVEST GOURMET brand. As Nestlé’s first facility of its kind in the ASEAN region, this enables us to capture, under the Harvest Gourmet brand, the rising demand for plant-based foods
in both our domestic and export markets, supplying Malaysian-made, high-quality, great-tasting Halal-certified plant-based meals. While still at an early stage, we have ramped up progressively
our presence to cover over 700 retail outlets and 150 restaurant chains in Malaysia, as well as a strong presence in main online platforms.
AR For further details about our PBMS brand, please refer to page 32 of this report.
16 With movement restrictions spurring rapid digital adoption, e-commerce continues to take on
greater relevance for consumers. In line with this, we worked towards heightening the availability
and visibility of our brands across all main e-commerce platforms, while digital consumer
engagement continued to gain good traction through the year.
As an example, we were an anchor brand for the two-day launch of Shopee Supermarket Super
Brand Day. This allowed us to tap into the heightened traffic on the platform, offering convenient
bundles of essential Nestlé products to ease consumers’ shopping journey, leading to substantial
growth in sales via Shopee Supermarket during the campaign period.
With a deep-rooted presence in the nation for over a century, Nestlé Malaysia’s portfolio of
brands has built a unique bond with Malaysian families, who make our products part of their
daily lives. It is our mission to keep building this bond that unites us, nurturing this love and
trust in our brands with an ever-responsive action to support the needs of our communities,
through multiple programmes. This year, our brands contributed a total of RM11.6 million towards
community relief efforts, making life better for many communities through impactful initiatives.
MAGGI, MILO and NESTLÉ EVERYDAY were amongst the brands that led this effort, which also
saw a number of initiatives at Corporate level, such as our Nestlé Cares Back-to-School campaign,
Annual Review
donating school essentials to kids in need ahead of the start of the school year; or our decision,
in light of the unprecedented floods that hit Malaysia in December 2021, to donate close to
RM500,000 worth of products to over 10,000 flood victims.
Brand love and trust is a core foundation, but to ensure success in the market we also need to deliver products that resonate with consumers and shoppers, and deliver the right value,
taste and quality expectations. Leveraging our long-standing presence in Malaysia, we continuously adapt to local preferences to heighten the appeal of our offerings, across all brands and
businesses. This keen understanding of local tastebuds feeds constantly our innovation efforts and helps us to fine tune our product formulation and recipes to make our portfolio tastier,
healthier and better to continue building a competitive advantage for the long run.
“Ultimately, it is about delivering better-for-you products that play a positive role in the nutrition of Malaysian families and continue to deliver
consistently the high quality and 100% halal commitment behind each and everyone of our products. That’s what Nestlé, the Good Food, Good Life
company, is about: a constant strive to enhance the lives of Malaysians through products that support them in their health and wellness journey.”
In moving towards this goal, we expanded our plant-based offerings to fulfil the needs of
consumers that are increasingly incorporating plant-based alternatives into their diets.
Alongside the Harvest Gourmet range, we also launched our first dairy-free Ready-to-Drink
products pioneered by MILO and NESCAFÉ, offering plant-based versions of our most
loved brands, with great taste and made suitable for the many Malaysians suffering lactose
intolerance in any of its forms.
Marking another first, we introduced our new LIVELY Tea range, which is lower in sugar and is
infused with plant extracts that make them a ‘better-for-you’ refreshment option within the tea
17
drinks segment. Further highlighting the nutritional benefits of our products, we refreshed our
NESPRAY brand to enhance its positioning as a wholesome milk powder that delivers the right
nutrition to children, and the only full cream milk in Malaysia with 15 essential vitamins and
minerals that are key to a child’s development.
Through our research and development (R&D) expertise and product innovation efforts, we
continuously work towards ensuring that our products meet the strict requirements of the
Malaysian Ministry of Health’s Healthier Choice Logo (HCL) 2.0. As a result, we have successfully
obtained HCL 2.0 certification for 36 Nestlé products as of 2021, offering the largest portfolio
of HCL products in the country.
Beyond our portfolio of great-tasting and nutritious products, we promoted healthier lifestyles
through strategic initiatives at the grassroots levels to elevate sports development, particularly
among youths. With a view towards building up Malaysia’s grassroots football ecosystem, we
collaborated with the Football Association of Malaysia, embarking on a five-year partnership
to nurture a new generation of football stars, and kicked off the MILO All Star Challenge to
showcase talented young players.
Annual Review
We are deeply committed to shaping a more diverse and inclusive working environment and we are proud of the high level of participation of female colleagues in leadership roles across the
organisation.
In 2021, we focused our actions to improve the more male-dominated areas such as Sales and Operations, starting from increased recruitment with women comprising 34% of new hires in our
Sales, Technical and Supply Chain divisions; as well as making available activities such as a forklift driving training academy specifically targeted to provide our interested female colleagues the
necessary skills and certification needed to take on these roles.
Supporting gender balance is also about removing barriers and in 2021, we engaged three daycare centres in close proximity to our Head Office, while enhancing our Parental Support Policy
with increased paid maternity and paternity leave, primary caregiver leave and child adoption leave.
An important change in 2021 was the move of our headquarters to a new purpose-built office that facilitates new ways of working, and primarily the adoption of a hybrid work model leveraging
the learnings of the past two years and maximising the use of technology and digital connectivity, in a very open, collaborative and idea-inspiring environment.
18
Annual Review
Nestlé Malaysia’s Net Zero Roadmap execution accelerated in 2021 and we are making
progress in our objectives to achieve Plastic Neutrality and bring down our CO 2 emissions,
in line with the Group’s global commitments.
Among our key initiatives for 2021 was the expansion of our Door-to-Door Collection and
Recycling Programme to more townships in Petaling Jaya and other areas including Subang
Jaya and Shah Alam. First launched in Petaling Jaya in October 2020, today nearly 30,000
households are participating and we aim to collect and separate over 2,000 tonnes of waste
in 2022. Beyond this, we embarked on a new initiative to reduce plastic waste in Malaysian
rivers and waterways, with six tonnes of PET collected as of 2021. On the packaging front, 74%
of the plastics used in our packaging is already designed for recycling, representing 90% of the
total packaging volume used for our products.
The other big focus area in 2021 involved the reforestation efforts through Project RELeaf.
Although pandemic lockdowns limited access to planting sites, we accelerated the planting of
seedlings in our nurseries, allowing us to have a significant stock of plantlets ready for planting
in 2022, putting us back on track with our commitment of planting 3 million trees across
Malaysia by 2023.
19
Our sustainability progress in 2021 ended on a high note with the adoption of the green Energy
Scan the QR code to watch our educational Jom Kitar Semula Bersama Shiera video featuring
Tariff, which allowed us to move towards 100% renewable electricity across all our operations
our Door-to-Door Collection and Recycling Programme.
in Malaysia, starting from January 2022.
CONCLUSION
This review cannot conclude without thanking all my 5,200 colleagues who made possible our positive progress in 2021, standing firm against the very tough environment we had to confront.
Our success is owed to all of them, who allowed us to ensure operation continuity against all odds and who embraced vaccination and SOP discipline as the only way to protect each other,
enabling us to fulfil our mission to bring their favourite food and beverage brands to the rakyat.
As we move forward, 2022 will undoubtedly see further headwinds, mainly those derived from high commodity costs and an unsettling geopolitical context. However, I have all the confidence
on the collective wisdom, capabilities and ability of Nestlé Malaysia to overcome all these challenges and fulfil our purpose of enhancing quality of life for everyone, today and for the generations
to come.
Annual Review
Our Product Portfolio
THROUGH
OUR PRODUCTS,
WE UNLOCK THE
POWER OF FOOD TO
ENHANCE QUALITY OF
LIFE FOR EVERYONE,
TODAY AND FOR
GENERATIONS TO
COME.
With market-leading household brands that
have been part of Malaysians’ daily lives
20
for over a century, our diverse portfolio
comprises 500 locally manufactured,
100% Halal-certified products, catering
to the growing demand for Halal food and
beverages both locally and the world over.
We offer relevant solutions that cater to
every consumption moment, be it in-home
preparation, on-the-go consumption or
OOH channels.
Furthering our leadership position within the

sector, we are committed to best practices for
sustainable production, whilst encouraging
environmentally-friendly habits amongst
our consumers. Underpinned by our strong
commercial and operational capabilities, we
uphold the highest standards in food safety
enabled by our Nestlé Quality Management
Annual Review
System and good manufacturing practices.

21
Nestlé (Malaysia) Berhad Annual Review

Our Business Review
MILO
MILO
With a long-standing history of over 70 years as the nation’s
FOODS
most loved chocolate malt beverage, the MILO brand continues
to nourish Malaysians with the natural goodness of malt from
barley, milk and cocoa. Enhanced with essential vitamins and
COFFEE minerals, MILO empowers Malaysians with the energy to go
further.
READY-TO-DRINK
With the strong belief that sports can be a great teacher, the
MILO brand spearheads sports at the grassroots level with
the aim to instil lifelong values such as courage, perseverance
PLANT-BASED and tenacity among children, parents and teachers across the
MEAL
SOLUTIONS
nation. The brand is also fast taking the lead on sustainability,
formalised through the MILO Sayang Bumi movement
22 launched in 2021, as part of our commitment to environmental
ICE CREAM preservation.
NIS Learn more about MILO Sayang Bumi on page 94 of the

Nestlé in Society Report.
CONFECTIONERY
MILKS
NUTRITION
HEALTH SCIENCE
Annual Review
NESTLÉ
PROFESSIONAL
STRENGTHENING BRAND APPEAL AND GOODNESS AMONG MOTHERS, YOUTHS AND ADULTS
Building on the strengthened nutrition credentials established over many years, we continued to ramp up our momentum by amplifying the goodness of a cup of MILO, with a focus on driving
in-home penetration and enhancing brand appeal, especially among mothers and adults.
Through above-the-line and below-the-line touchpoints, we pushed out brand imageries that resonated strongly with consumers, reinforcing brand relevance for adults and families alike.
Along with conveying the goodness of MILO particularly during breakfast time, we also highlighted MILO Mixes as a convenient option for adults to stay nourished and energised throughout
the day, raised awareness on the benefits of MILO Hi-Fibre and MILO Nutri Breakfast, as well as shared different ways to enjoy MILO with delicious recipes.
As a result of these strategic initiatives and more, despite the impact of COVID-19 restrictions which led to a decline in sales in OOH channels, we achieved the highest level of MILO in-home
penetration since 2017, alongside further enhancing its preference by both children and adults.
Reflecting our efforts, MILO was recognised by leading social media platform Twitter as the winner of Best Brand Voice in its #BestofTweets 2021 Malaysia Awards, in addition to multiple
accolades at the Putra Brand Awards 2021, including the Platinum Award for Non-Alcoholic Beverage for two years running, Putra Brand Marketer of the Year and Putra Brand Hall of Fame.
REINFORCING BRAND LOVE AND RELEVANCE IN MALAYSIAN HERITAGE THROUGH MERDEKA

CAMPAIGN
Since 2017, we have held our annual MILO Merdeka Malaysia Campaign to unite Malaysians from all walks of
life over their shared love of MILO, which has become an integral part of Malaysian heritage and lifestyle.
23
In 2021, we continued to build brand love and reinforce MILO’s trusted reputation by curating an animated
MILO Merdeka Campaign video. Celebrating the ‘Malaysia Boleh’ spirit and highlighting MILO as an iconic
household brand that has nourished and supported generations of Malaysians, the video garnered positive
exposure with more than 3 million views and a PR value of close to RM800,000.
In view of the pandemic restrictions, we created an animated MILO
Merdeka video in 2021 to rally the spirit of Malaysia Boleh. Scan the QR BUILDING EXCITEMENT THROUGH ‘MILO HIDUP BOLA FOOTBALL FEVER’ CONTEST
code to watch the video!
Riding on the football wave of the 2020 UEFA European Football Championship, we launched our three-
month MILO Hidup Bola Football Fever contest and campaign in 2021. This initiative was aimed at heightening
engagement and driving in-store excitement among consumers by offering attractive prizes, including a living
room set worth RM12,000 as a grand prize.
In consideration of movement restrictions during the pandemic and more consumers opting for online
shopping, we leveraged digital promotions to drive traffic to our e-commerce platforms, which encouraged
higher purchases and participation.
The contest successfully generated excitement with 550,000 entries received and receipts worth a total of
RM5.7 million collected throughout the duration of the campaign.
Annual Review
Our Business Review
MILO
FOODS
For over 50 years, the MAGGI brand has pioneered our Foods business,
FOODS
flourishing into a household name with offerings that help Malaysians
make a positive difference in their lives, and the lives of their families and
communities. This ranges from our iconic MAGGI 2-Minute Noodles
COFFEE
and other noodle formats, to convenient cooking
solutions such as MAGGI CUKUP RASA all in one
seasoning, recipe mixes, bouillons and sauces that
READY-TO-DRINK help consumers create affordable, tasty and balanced
home-made meals.
PLANT-BASED Since 1997, MAGGI has empowered

MEAL
SOLUTIONS Malaysians through cooking,
unlocking the potential of young
24 budding chefs through the MAGGI
ICE CREAM Secondary Schools Cooking
Competition as well as inspiring women
via a mentorship programme since 2020.
CONFECTIONERY
UPLIFTING WOMEN WITH PROGRAM MENTOR WANITA CUKUP BERANI MAGGI
A recent survey found that 36% of Malaysians agree that confidence is instrumental in helping women succeed. Understanding this, we conceptualised and launched
Program Mentor Wanita Cukup Berani MAGGI (PMWCBM), an empowerment and upskilling programme in 2020, in partnership with `Women Will’ by Google
MILKS
Malaysia. The PMWCBM is premised on the spirit of Tak Kenal Tak Cinta (Never Try, Never Know) by MAGGI CUKUP RASA - encouraging participants to try something
new outside of their comfort zones, be it in cooking or life in general.
NUTRITION Since the onset, PMWCBM has placed great importance on creating economic opportunities for women to grow and succeed in life through a series of online
workshops on confidence-building, improving business literacy and digital skills, as well as enhancing cooking skills. This was followed by a mentorship programme
under the guidance of three inspiring mentors, namely Actress, Entrepreneur, Food Enthusiast and Brand Ambassador for MAGGI CUKUP RASA, Datin Paduka Eina
HEALTH SCIENCE Azman; Director, Producer, Actress and Owner of The Dim Sum Place, Sheila Rusly; and Young Entrepreneur Icon 2019 and Owner of My Mum’s Bakery, Anne Idris.
Annual Review
NESTLÉ
PROFESSIONAL
To complement these initiatives, a reality TV series, Resipi Berani MAGGI, was rolled out in
2021, highlighting the transformation and emotional journey of the mentees towards achieving
success in their home-based food business. In the series, the mentees showcased how they
overcame challenges and experienced personal growth, thus inspiring other women to step
outside their comfort zones and make a positive difference for themselves, their families and
their communities.
In 2021, the PR campaign for PMWCBM garnered a total of four awards in the 10th edition of
the Global PRGN Best Practice Awards 2021 (organised by the Public Relations Global Network,
PRGN, one of the world’s largest international public relations networks) as well as in the 13 th
edition of the Malaysia PR Awards 2021 (organised by the Public Relations & Communications Inspiring Malaysian women to make a difference in their lives through our Resipi Berani MAGGI
TV series.
Association of Malaysia, PRCA Malaysia).
CELEBRATING 50 YEARS OF LOVE FOR MAGGI

Inspired by the solidarity of Malaysians amid uncertain times, the MAGGI Sah Malaysia
campaign was inaugurated in 2020 to celebrate the resilience of the rakyat and rally
support for those in need. The campaign returned once again in 2021 as part of our
brand commitment to continue uplifting the lives of B40 communities through balanced
25
and affordable cooking. Along with offering prizes worth up to RM449,000, the campaign
encouraged Malaysians to donate MAGGI meal kits to B40 communities. With close to
180,000 entries, we distributed 50,000 meal kits to those in need, in partnership with
Giving back to the community by donating meal kits to those in need through MAGGI Sah Malaysia. NGOs, namely the Malaysian Red Crescent Society, Empire Project and Uncle Kentang.
ENHANCING BRAND RELEVANCE THROUGH FAVOURITE LOCAL FLAVOURS

To continue enticing local tastebuds and offer affordable meal solutions, we relaunched
the MAGGI HOT MEALZ range with a richer soup base, springier and thicker noodles and
chunkier garnish for a heartier meal. Apart from upgrading the existing flavours, we also
introduced the new Lada Pedazz Extra variant, offering a peppery soup with a kick of heat.
This relaunch allowed us to extend our offerings beyond convenience by capturing the
hearts of Malaysians with authentic and flavourful culinary experiences.
Ever responsive to consumer demand, we introduced two iconic flavours to our bag soup
range, namely Mi MAGGI Udang Pedas Utara, and Mi MAGGI Tom Yam Kaw, a throwback
to the past. With fresh ingredients and spices cooked into a delectable paste, these variants
deliver rich and authentic flavours, complete with springy noodles made from Australian
Annual Review
wheat and garnishes that enhance taste and mouthfeel.
Our Business Review
MILO
COFFEE
As the largest coffee player globally, we
FOODS
believe that everyone deserves a great
cup of coffee. With this belief at the core
of our ambition, we keep a strong focus
COFFEE on delivering to consumers a range of hot
and cold coffees, suitable to enjoy at any
time. Nestlé continues to drive a strong
READY-TO-DRINK
leadership position in the coffee category,
with a wide offering allowing us to delight
every Malaysian coffee lover, making their
PLANT-BASED everyday better with coffee that is made
MEAL
SOLUTIONS
with care and respect. Our passion for great
coffee is reflected by our three iconic brands,
26 NESCAFÉ, NESPRESSO and STARBUCKS.
NESCAFÉ
ICE CREAM
CONFECTIONERY With a history spanning back to 1938, NESCAFÉ is

today the number one coffee brand worldwide and a
much-loved Malaysian favourite. With its signature
taste and aroma in every cup and across its portfolio,
MILKS
NESCAFÉ is committed to bringing quality coffee for
people to live their moments.
NUTRITION Despite in-home coffee consumption softening towards

the end of 2021 as MCO restrictions eased, NESCAFÉ
coffee’s consumption remained strong throughout the
year. This helped the business to sustain its positive
HEALTH SCIENCE
momentum and further strengthened its market position
in 2021.
Annual Review
NESTLÉ
PROFESSIONAL
AMPLIFYING REACH TO EAST MALAYSIANS
Recognising East Malaysia’s distinct and competitive market landscape, we ramped up
the NESCAFÉ brand’s strong presence across channels and touchpoints by focusing on
STARBUCKS AT
HOME
amplifying its reach in Sabah and Sarawak. This is how a dedicated proposition tailored for
this market was introduced with the NESCAFÉ BLEND & BREW 100 sticks pack, supported by
a well-crafted communication campaign to regain competitiveness. To further ensure solid
brand visibility, 12 large advertising billboards across Sabah and Sarawak were branded
Since its launch in 2019, the STARBUCKS AT
and a dedicated contest was kicked-off in conjunction with Gawai and Kaamatan, to create
awareness, drive excitement and boost consumer demand in East Malaysia. HOME range has allowed consumers to create
their favourite coffee shop experience in the
BRINGING FESTIVE CHEER TO MALAYSIANS comfort of their homes and offices.
Amid the difficult times of the pandemic, our Peraduan Jom Beli & Raikan Bersama-sama
contest was launched with the aim to spread joy among Malaysians during the Hari Raya,
Gawai and Kaamatan festivities. The nationwide contest offered NESCAFÉ consumers
the opportunity to win amazing prizes worth up to RM1.5 million. Thanks to a strong TV
campaign and an impactful in-store activation programme with eye-catching displays and
promotions, the contest generated strong engagement and high participation levels, leading
to a record-high market share during the period.
27
NESCAFÉ CLASSIC KOPI KEDAH RETURNS WITH 2021 HARVEST

As part of the NESCAFÉ Grown Respectfully programme, our sustainable coffee farming
initiative targeted at revitalising the local coffee sector and uplifting the livelihoods of local
farmers, we brought back the NESCAFÉ Classic Kopi Kedah made with the 2021 harvest. EXPANDING OUR PORTFOLIO AND PRESENCE
Beyond the product itself which featured a refreshed look, we organised the Peraduan 2021 saw the offline roll-out of STARBUCKS by NESPRESSO, a range of six capsules
NESCAFÉ Jom Semai Kopi contest which offered five lucky Malaysians the opportunity to compatible with the NESPRESSO system, in retail channels. Moreover, consumers have
win an all-expenses paid trip to one of the actual coffee farms in Kedah producing the beans been pleased to discover the limited edition series, featuring the STARBUCKS Chocolate
for our NESCAFÉ Classic Kopi Kedah. To date, the NESCAFÉ Grown Respectfully programme Salted Caramel as well as a Christmas range. Through relevant innovations and solutions,
has engaged over 200 farmers and planted up to 170,000 coffee plantlets. we have leveraged all opportunities to bring consumers the signature premium tastes of
STARBUCKS to enjoy at their convenience. This was achieved via strong above-the-line
NIS To learn more about the NESCAFÉ Grown Respectfully programme, refer to page 48 of the communications including targeted digital campaigns and outdoor billboards to enhance
Nestlé in Society Report 2021.
brand awareness.
DRIVING BUSINESS GROWTH AND TRANSFORMATION FOR NESCAFÉ DOLCE GUSTO
2021 was a year of transformation for NESCAFÉ DOLCE GUSTO, driven by a new partnership When visiting key shopping malls in Penang and the Klang Valley, consumers were able
with Visionary Solutions, a very well-established premium appliances distributor. With a to experience a unique mega-roadshow set up where they could discover the different
renewed route-to-market strategy, supported by a revamped marketing campaign, the roasting profiles as well as all the product formats that STARBUCKS has to offer. In Sunway
brand was able to strengthen its business momentum, achieving a turnaround to deliver Pyramid, the brand even established its first ever pop-up store which has become the single
Annual Review
strong top and bottom-line results, while breaking our machine sales record in this very first largest brand point of sale in the country.
year of the partnership alone.
Our Business Review
MILO
NESPRESSO
FOODS
COFFEE
READY-TO-DRINK
PLANT-BASED
MEAL
SOLUTIONS
28
ICE CREAM
The NESPRESSO story began over 30 years DRIVING BRAND DIFFERENTIATION AND REINFORCING SUSTAINABLE COFFEE POSITIONING
CONFECTIONERY
ago with a simple idea: to enable anyone As a global brand which is deeply rooted in sustainability, we were pleased to achieve a key milestone in
to create the perfect cup of barista-style Malaysia in 2021, as part of our aim to ensure that each cup of NESPRESSO has a positive impact. With
a view to ramp up awareness amongst Malaysians on the importance of recycling towards cultivating a
espresso coffee, and from this, the first
circular economy, we collaborated with renowned local contemporary artist, Red Hong Yi, on the Doing
MILKS portioned coffee system was born.
is Everything Project.
Since then, our innovation has shaped

The project saw the creation of an art installation called ‘Kaleidoscope’, utilising 24,000 pieces of used
NUTRITION
the global coffee culture and redefined NESPRESSO coffee capsules, with the goal of encouraging consumers to reduce, reuse and recycle
the way millions of people enjoy their while enjoying our finest coffees. To strengthen our outreach, we engaged with media for an exclusive
coffee. The brand has evolved from the unveiling of the art installation and a series of interviews, generating more than RM6 million worth of
pioneering trendsetter into now a pillar positive media exposure. The project also helped to raise awareness on our NESPRESSO recycling and
HEALTH SCIENCE
reference in the portioned coffee category, sustainability efforts such as the Recycle@Home programme, which offers at-home collection of used
growing from a ground-breaking idea in NESPRESSO capsules for NESPRESSO e-commerce customers in selected states. By driving public
Annual Review
Switzerland to a global brand present in 82 awareness on environmental sustainability and NESPRESSO’s sustainability efforts, we aim to further
NESTLÉ strengthen brand acceptance moving forward.
PROFESSIONAL
countries including Malaysia.
NIS Learn more about our NESPRESSO recycling initiatives on page 93 of the Nestlé in Society Report.
INSPIRING COFFEE LOVERS AND ENHANCING
BRAND APPEAL
Crafting fun and innovative experiences for coffee
enthusiasts, we continued to enhance our appeal through
exciting collaborations and innovative recipes, introducing
our Summer 2021 coffee range, ideal for consumers to
stay cool and quench their thirst in hot weather. Bringing
together a synthesis of coffee and style, we teamed
up with global digital entrepreneur and Italian fashion
icon Chiara Ferragni to transform some of the best-
loved NESPRESSO machines, such as the NESPRESSO
x Chiara Ferragni Essenza Mini, alongside quintessential
accessories, sporting stylish and vibrant designs. This was
complemented by a summer-inspired signature iced coffee
recipe developed by Chiara Ferragni herself, combining her
favourite iced espresso with a rich coconut flavour.
Further elevating the summer experience, we launched the

latest addition to our NESPRESSO Barista Creations for
29
Ice range, with the limited-edition Coconut Flavour over
Chiara Ferragni x NESPRESSO collection of machines and accessories NESPRESSO x Crème De La Crème creations Ice. Commemorating this, we partnered with famous local
artisanal ice-cream brand, Crème De La Crème, to create
a collection of NESPRESSO-infused creations using this
latest flavour, drawing in coffee and ice-cream enthusiasts
alike. The collaboration offered Malaysians a collection of
delectable desserts made with fresh premium ingredients
perfectly paired with the flavours of NESPRESSO coffee to
beat the heat and stay refreshed.
Despite the limitations brought about by the COVID-19

pandemic, including reduced footfall in our NESPRESSO
boutiques, we were able to generate a significant
positive response by emphasising outreach via our digital
platforms. As a result of our focused efforts, we recorded
a considerable increase in digital engagements across our
various social media platforms and further illustrating this
Annual Review
achievement was an encouraging increase in online sales
in 2021.
Red Hong Yi’s art installation, ‘Kaleidoscope’, was made with 24,000 used NESPRESSO coffee capsules, reflecting creative ways to reduce,
reuse and recycle with the NESPRESSO brand.
Our Business Review
MILO
READY-TO-DRINK
FOODS
COFFEE
READY-TO-DRINK
PLANT-BASED
MEAL
SOLUTIONS
30
ICE CREAM
Through our Ready-to-Drink business,

CONFECTIONERY Nestlé Malaysia’s first-ever dairy-free RTD offering comprises MILO Dairy Free Almond, NESCAFÉ Dairy Free
Malaysia’s favourite brands such as MILO, Oat Latte and NESCAFÉ Dairy Free Almond Latte; the range is available in PET 225ml and UHT
1 litre multiserve formats, to cater for both in-home & on-the-go consumption.
NESCAFÉ, NESTLÉ OMEGA PLUS and
NESTLÉ JUST MILK offer versatile product
OFFERING MALAYSIANS ‘BETTER-FOR-YOU’ BEVERAGE CHOICES
MILKS formats, including UHT, PET bottles, cartons,
With rising healthcare awareness, consumer reports indicate a growing global preference for nutritionally
cans and cups, allowing consumers to
beneficial products.1 In line with this, our product innovation efforts enable us to create purposeful
conveniently enjoy a wide range of beverages
brands that deliver ‘better-for-you’ functional beverages, supporting healthier lifestyle choices.
NUTRITION
while on-the-go.
Tapping on our global R&D expertise and strong local manufacturing capabilities, we penetrated a
Alongside growing our brands and expanding segment which has today evolved from a niche into a lifestyle category, through the launch of our first
our product portfolio, we place great emphasis plant-based Nestlé Dairy Free RTD range for our leading brands, MILO and NESCAFÉ. Comprising MILO
HEALTH SCIENCE
on spearheading sustainable solutions, namely Dairy Free Almond, NESCAFÉ Dairy Free Oat Latte and NESCAFÉ Dairy Free Almond Latte, the range
through recycling initiatives and being the first is available in PET and UHT formats manufactured locally, providing consumers with convenient plant-
Annual Review
large-scale manufacturer in Malaysia to convert based options at affordable price points.

NESTLÉ
PROFESSIONAL
our straws from plastic to 100% paper-based. 1
“ The 2022 state of consumers” Nielsen IQ. January, 2022.
https://nielseniq.com/global/en/insights/analysis/2022/the-2022-state-of-consumers/?cx_testId=10&cx_
testVariant=cx_1&cx_artPos=0&cx_experienceId=EXXBKHJVZ3ND#cxrecs_s
Adapting to the challenges of the MCO, we first promoted the Dairy Free
RTD range exclusively via high-end retailers, alongside amplification online
through partnerships with Google, Facebook as well as digital influencers
and plant-based advocates in Malaysia. All the buzz and excitement proved
successful as we gained strong double digit market shares in both the plain
and flavoured plant-based segments by year end.
Broadening our portfolio of `better-for-you’ products, we penetrated the RTD

tea drinks segment with our new Nestlé LIVELY Tea range. Our three black
tea variants of Orange Guarana Tea, Raspberry Lemon Balm Tea and Pear
Schisandra Tea are low in sugar and infused with adaptogens, ingredients
derived from traditional herbs and fruits that have been used for centuries
across different cultures around the world because of their beneficial effects
in supporting the body’s natural ability to cope with stress. With the hectic
lifestyle many Malaysians face on a daily basis today, the refreshing and
stimulating benefits of these innovative drinks offer consumers a modern,
convenient and great-tasting way to drive the stress away. STAYING CONNECTED WITH NESCAFÉ KOPITIAM SERIES
While low footfall in petrol marts and convenience stores persisted due to movement restrictions, we leveraged
this as an opportunity to provide Malaysians with a taste of the familiar, despite not being able to gather during 31
MCO periods. Inspired by the nation’s time-honoured kopitiam coffee-drinking culture, we launched the NESCAFÉ
Kopitiam series with two new variants that are Malaysian kopitiam favourites, namely NESCAFÉ Kopi Cham and
NESCAFÉ Kopi-C. With the coffee cans sporting a vibrant new design evoking the tiled interior of traditional
kopitiams, we reconnected with Malaysians by delivering nostalgic coffee experiences.
Driven by the dedicated efforts of our marketing, sales and manufacturing teams, we successfully launched the
NESCAFÉ Kopitiam series, ensuring that the products featuring the new designs were made available across all
shelves as we rolled out our communication campaign. Along with digital advertisements and Key Opinion Leader
(KOL) collaborations, we also generated social media buzz by encouraging consumers to share their love for the
NESCAFÉ Kopitiam series, leading to #NescafeKopitiam trending on Instagram and Facebook for eight weeks.
EXPANDING OFFERINGS WITH LOCALLY PRODUCED NESCAFÉ ICED RANGE

Following the success of our NESCAFÉ Iced Cappuccino pilot launch in 2020, our first product in a 500ml PET bottle,
we introduced new variants, NESCAFÉ Iced Chocochino and NESCAFÉ Iced Caffe Latte. We also maximised our
manufacturing capabilities by now producing these products at our Sri Muda factory in Shah Alam, Selangor. This
allowed us to optimise our PET manufacturing line, reduce our carbon footprint by avoiding distant oversea importing
and extend our distribution to East Malaysia, as locally produced products have a longer shelf-life and shorter lead
Annual Review
time for delivery.
LIVELY Tea, Nestlé’s first RTD tea drink with adaptogens, enabling consumers Positive consumer response to the range led to encouraging sales in 2021 and a double-digit increase in market
to “Reflect, Refresh and Recharge”.
share, making NESCAFÉ a market leader in the PET Coffee category.
Our Business Review
MILO
PLANT-BASED MEAL SOLUTIONS
Driven by a greater consciousness towards health and sustainability, consumers are making more informed choices and increasingly seeking
FOODS
out products that better support their well-being and are also good for the planet. This has sparked robust growth in demand for plant-based
products, both in Malaysia and across the globe.
COFFEE Recognising the nutritional benefits of plant-based foods which are low in cholesterol and rich in protein
and fibre, alongside producing lower carbon emissions contributing to a lighter environmental footprint,
we introduced HARVEST GOURMET as Nestlé Malaysia’s first Plant-Based Meal Solutions brand.
READY-TO-DRINK
PLANT-BASED
MEAL
SOLUTIONS
32
ICE CREAM
CONFECTIONERY
MILKS
MARKING A MILESTONE WITH PBMS FACTORY LAUNCH

Highlighting the launch of our new strategic PBMS business segment, we have officially opened
our flagship PBMS factory in Shah Alam, Selangor. Beyond signifying our entry into the market,
NUTRITION
this also represents a significant milestone as it is the first PBMS facility for Nestlé in Asia
apart from China. Globally, it is Nestlé’s first PBMS facility that is 100% Halal-certified and also
utilises 100% recyclable packaging.
HEALTH SCIENCE
This facility will supply local demand as well as exports, leveraging the potential of ASEAN’s
650 million population, alongside export opportunities to other markets. Moreover, our HARVEST
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NESTLÉ GOURMET products are locally manufactured in Malaysia, allowing us to offer high-quality and
PROFESSIONAL great-tasting plant-based foods at competitive price points in both retail and OOH segments.
CREATING AWARENESS FOR THE NEW PBMS BRAND AMID PANDEMIC RESTRICTIONS
As we introduced the HARVEST GOURMET brand, creating awareness was a challenge due to the pandemic
restrictions. Nevertheless, we were responsive to the evolving conditions of the pandemic, swiftly shifting gears to
ramp up brand presence through digital platforms to introduce the new brand and our range of offerings.
We achieved this via a strategic collaboration with Pandamart, which led to HARVEST GOURMET being the first
PBMS brand to be launched on the e-commerce platform. Additionally, we targeted potential customers by offering
exclusive e-commerce deals, whilst generating publicity and social media buzz around the benefits of plant-based
diets through our partnerships with KOLs.
With an astute understanding of Malaysian taste profiles, we offered adaptations of widely loved local dishes,
providing consumers with healthier plant-based alternatives of their favourite meals. Through simple delicious
recipes, we aimed to inspire both retail consumers and OOH channels to easily incorporate HARVEST GOURMET
products into their daily diets and menus.
To heighten appeal to consumers, we amplified our reach on social media by working with KOLs. In tandem, to raise
brand awareness in the OOH segment, we leveraged online food delivery platforms for virtual tasting sessions,
Enhancing appeal to consumers with eye-catching in-store displays for
delivering 2,000 meals to potential customers and ensuring they are well supported with product information, HARVEST GOURMET.
menu curations and branding support.
33
HARVEST GOURMET products can now be seen through various curations in OOH channels including fast-serving
restaurants like Kyochon, popular chains such as Salad Atelier and Fuel Shack, as well as hotels. Leveraging on the
rising demand of home delivery, HARVEST GOURMET is also made available in dark kitchens such as Pop Meals
and Epic Food Hall.
ACCELERATING GROWTH POST-LOCKDOWN

Following the easing of lockdown restrictions, in May 2021, we began to expand distribution into retail channels to
capture new consumers, kicking off with high-end grocers and specialty stores. This was followed by our expansion Inspiring consumers with localised HARVEST GOURMET recipe menus to
into hyper supermarkets and regional stores, providing consumers with greater accessibility to our frozen plant- encourage product trial and consumption.
based product offerings throughout Malaysia. In the OOH segment, we were quick to accelerate distribution and
brand awareness through chef-to-chef engagements and working closely together with food operators across
different channels, culminating in securing strategic partnerships.
Our continuous efforts in both retail and OOH segments during pre and post lockdown periods have allowed us to
now be present in over 700 stores and e-stores nationwide, alongside over 150 key restaurant chains. As we move
forward into 2022, the HARVEST GOURMET brand remains a highly strategic growth platform that we will invest
Annual Review
in and develop consistently across all channels, in both retail and OOH.
HARVEST GOURMET Chef-to-Chef Engagement Demo session with EQ Hotel,

Kuala Lumpur.
Our Business Review
SPREADING EXCITEMENT WITH KIT KAT GOLD ICE CREAM
ICE CREAM
Spurred by the success of the KIT KAT Stick Ice Cream in 2020, the launch of our luxurious
MILO
KIT KAT Gold Ice Cream in 2021 marked our expansion of cross-category product innovations to include
more premium selections.
FOODS We adopted a holistic communication approach to market this product, raising brand awareness across
various platforms namely television, digital OOH advertising platforms and social media alongside
in-store activations. Further amplifying our reach during Chinese New Year, we produced a light-hearted
video featuring local celebrities and influencers, inviting consumers to celebrate golden moments of joy
COFFEE
with KIT KAT Gold Ice Cream to ring in the festive season. The video generated significant engagement
with over 6.5 million views across our social media channels.
READY-TO-DRINK As a result of these efforts, we achieved double-digit sales growth for this locally-manufactured
product, reinforcing our market presence in both the Adult Impulse Premium sub-category and overall
ice cream category.
PLANT-BASED
MEAL
SOLUTIONS
34
ICE CREAM
With great-tasting flavours and innovative

CONFECTIONERY
formats crafted by popular brands,
including KIT KAT, LA CREMERIA, OREO,
DRUMSTICK and MAT KOOL, our ice cream
MILKS portfolio continues to serve refreshing
treats for Malaysians, be it in the comfort
of their own homes, on-the-go or at
NUTRITION
OOH channels.
Guided by refocused business strategies

and operations, our ice cream segment
HEALTH SCIENCE
remained resilient in 2021 despite
persisting COVID-19 related restrictions,
Annual Review
delivering strong growth supported by

NESTLÉ
PROFESSIONAL
exciting innovations. The cast of our Chinese New Year video celebrating a golden moment of joy with KIT KAT Gold Ice
Cream. Scan the QR code to watch the video.
RECONNECTING MALAYSIANS WITH A
REFRESHED MAT KOOL BRAND Nestlé Coconut Gula Melaka Ice Cream
Since 1998, the Nestlé MAT KOOL brand has brought Inspired by Malaysians’ favorite local flavors,
excitement to generations of Malaysians. To reignite the Nestlé Coconut Gula Melaka Ice Cream
brand love, we relaunched MAT KOOL with a rejuvenated embraces a rich gula melaka and creamy
coconut union that honours its true taste.
look, featuring an all-new logo as well as attractive and
Just like its ingredients, the Nestlé Coconut
updated packaging designs, alongside a refreshed and
Gula Melaka Ice Cream is versatile in many
more upbeat version of the iconic MAT KOOL jingle.
dessert creations
which makes it a
By tapping into the nostalgia that Malaysians have for
truly Malaysian-
the Nestlé MAT KOOL brand, we reconnected with adults
inspired dessert
who grew up with the brand, while also creating hype
that will get you
on the renewed brand to enhance appeal to parents of
relishing for
both kids and teens. This enabled us to strengthen our Our refreshed MAT KOOL brand also comes with a more upbeat MAT KOOL
more!
jingle. Scan the QR code and check out the all-new jingle performed by
position within the kids’ segment, with a double-digit XENIONS.
MORE INNOVATIONS THIS YEAR

increase in market share compared to 2020.
Nestlé MAT KOOL ChocoMilky Ice Cream

HARNESSING E-COMMERCE OPPORTUNITIES THROUGH HOME DELIVERY CAMPAIGNS With a refreshed “kool” and highly energetic
With Malaysians spending more time at home during lockdown periods, we leveraged this opportunity to enhance our home delivery look, MAT KOOL brings you the best combo
35
business which we first embarked on in 2020. of chocolate and vanilla. Adding a fun-filled
surprise element, it comes with a soft luscious
This year, we worked towards establishing multiple online milky center that is sure to get everyone
avenues for the convenience of our consumers. On top craving for more!
of our own online delivery model which extends to a
network of distributors nationwide, 2021 saw a fruitful
collaboration with popular food delivery service provider,
Food Panda, enabling Malaysians to satisfy their ice cream
cravings with ease by simply purchasing via their mobile
applications. Additionally, through Food Panda we have OREO Sandwich Ice Cream
introduced many new pick-up points, as well as ventured Our covetable collaboration with the famous
into multiple PandaMart cloud stores throughout the OREO biscuit is easily one of our most exciting
country, significantly expanding our network and driving releases. We launched the number one ice
further growth for the business. To date, we are the sole cream sandwich in Malaysia by incorporating the
delectable cream flavored ice cream that we have
ice cream brand in Malaysia offering nationwide online
all come to love. Sandwiched
delivery.
between two palm-
sized OREO biscuits,
Annual Review
To build awareness on our home delivery services, we
every bite comes with a
partnered with popular influencers to highlight our available consistent filling of
Our collaboration with Food Panda enabled us to deliver refreshing Nestlé touchpoints. This ultimately resulted in considerable triple
ice creams nationwide. OREO bits in it!
digit growth in sales in 2021.
Our Business Review
REIGNITING GROWTH FOR OUR CORE BUSINESSES
CONFECTIONERY
While confectionery sales remained affected by the drop in impulse purchases and the impact to
MILO
mobility channels amid the pandemic, our back-to-basics programme reignited the growth of our
KIT KAT brand and strengthened brand affinity in 2021.
FOODS Marking the second year of this business transformation plan, we focused on key fundamentals such
as availability, visibility, accessibility and freshness. Leveraging rising in-home and digital consumption
allowed us to meet consumers’ evolving preferences and stay continuously connected to Malaysians,
despite missed opportunities during the MCO periods.
COFFEE
These strategies culminated in our highest market penetration in the last three years and enabled us to
increase our market share in 2021.
READY-TO-DRINK
SPREADING JOY THROUGH SEASONAL BREAKS
Consumers rely on gift-giving to spread happiness among loved ones during festive seasons, making
PLANT-BASED them a crucial time for Confectionery. With strategic above-the-line marketing tactics coupled with
MEAL strong below-the-line support, we engaged with consumers throughout the seasonal periods. Driving
SOLUTIONS
top-of-mind awareness, our KIT KAT Gold and ‘Win Gold’ contest spanned across celebrations for
Christmas in 2020 and Chinese New Year in 2021, inspiring Malaysians to “share the love, share the
36
golden break” during the festivities.
ICE CREAM
Recognising that almost every food and

CONFECTIONERY
beverage has a place in the context of
a balanced lifestyle, our confectionery
portfolio aims to bring moments of
MILKS joy and little smiles to Malaysians’
daily lives with high-quality products
from world-renowned brands such as
NUTRITION
KIT KAT, MILO and NESTLÉ CRUNCH.
Winning the hearts of Malaysians since
1988, KIT KAT continues to be one of
the best-loved chocolate brands in the
HEALTH SCIENCE
country.
Annual Review
NESTLÉ
PROFESSIONAL [Second from left] Frédéric Porchet congratulating one of the Grand Prize winners of the KIT KAT Win Gold
Contest.
In 2021, our ’Raya Bersama KIT KAT’ festive campaign featured a heart-warming Hari Raya music video, showcasing popular local
influencers exchanging meaningful rhymes in a very catchy melodic tune. Along with KIT KAT EasyRecipeasy baking challenges, KIT KAT Gold
locally-inspired recipe sharing on social media and our e-commerce gifting initiative, this further encouraged consumers to celebrate Wrapped in an eye-catching and festive gold
Hari Raya with KIT KAT from the comfort of their own homes. pack, every bite of KIT KAT Gold delivers a
deliciously smooth, delectable nutty flavour.
RAISING THE BAR Indulge in a duo layer of milk chocolate with
The launch of the KIT KAT Bar in 2021 marked the brand’s a sumptuous buttery
entry into the Blocks market, enhancing our consumer appeal note, encasing the
across a brand-new segment. Imported from Nestlé Australia signature KIT KAT
and available in popular variants, Milk and Dark Chocolate, the crispy wafer.
KIT KAT Bar is made with 100% certified sustainable cocoa
supplied through the Nestlé Cocoa Plan programme. Despite
COVID-19 related challenges, we successfully introduced
KIT KAT Bar to the Malaysian market initially through selected
retailers, followed by a nationwide launch in September 2021.
KIT KAT Choco Banana

The limited-edition KIT KAT Choco Banana
NIS Learn more about the Nestlé Cocoa Plan on page 50 of the
Nestlé in Society Report.
comes in a unique collectible packaging,
showcasing Illumination’s much-loved
To raise brand awareness on this new product, on-ground mischievous Minions! The distinctive banana
infused praline pairs 37
#RayaBersamaKITKAT returned in 2021 with yet another heart- and in-store activations were supported by digital media
warming and catchy video showcasing popular local influencers. and television commercials, which have produced promising perfectly with the
Scan the QR code to watch the video!
smooth KIT KAT milk
results.
chocolate.
KIT KAT CHUNKY Raisin & Cookie

KIT KAT CHUNKY Raisin & Cookie provides
the same great taste of our signature crispy
wafer and smooth milk chocolate, with a
fruity twist. A delicious blend of crunchy and
chewy cookie bits coupled with soft dried
raisins, this is an energising snack for those
on-the-go.
Annual Review
Photo by: May Ho (@mayho10)
Our Business Review
NURTURING CHILDREN TO THEIR FULL POTENTIAL WITH A REFRESHED NESPRAY BRAND
MILKS
With a rich heritage in Malaysia, the NESPRAY brand has nourished generations of Malaysian
MILO
schoolchildren with wholesome milk powder throughout the years. Conscious of evolving consumer
dynamics, we refreshed our brand proposition this year, honing in on the brand’s well-established
nutrition credentials as the only full cream milk in Malaysia with 15 vitamins and minerals.
FOODS
To heighten brand awareness, we engaged young mothers with school-going children, positioning
NESPRAY as a wholesome milk powder that provides the right nutrition to help children reach their full
potential. Coupled with new packaging designs, our holistic communications campaign included digital
COFFEE
advertisements across multiple platforms, tie-ups with KOLs and online parenting portals, along with
on-ground activation in stores. As in-store sampling activities were limited due to MCO restrictions, we
leveraged online dry sampling, with over 30,000 samples distributed.
READY-TO-DRINK
Reflecting the success of our enhanced brand proposition, we achieved encouraging incremental sales
growth and increase in market share following the launch of the campaign. We will continue to build
PLANT-BASED momentum moving forward, catering to the growing preference among mothers for wholesome full
MEAL cream milk options to support their children’s development.
SOLUTIONS
38
ICE CREAM
Comprising trusted brands such as

CONFECTIONERY
NESTLÉ OMEGA PLUS, NESTUM,
NESTLÉ EVERYDAY and NESPRAY,
our range of dairy products delivers
MILKS everyday nutrition to individuals
and families from all walks of life.
Containing the goodness of milk which
NUTRITION
is naturally rich in calcium and fortified
with essential nutrients, our high-quality
offerings equip Malaysians with a strong
foundation for good health. MEETING EVERYDAY NUTRITIONAL NEEDS WITH NESTLÉ EVERYDAY NUTRIKUAT
HEALTH SCIENCE With the aim of reinforcing the brand relevance of NESTLÉ EVERYDAY as the milk powder of choice
for Malaysians, we kicked off our NESTLÉ EVERYDAY NUTRIKUAT campaign. Highlighting NUTRIKUAT
Annual Review
as a key ingredient comprising essential vitamins and minerals, the campaign emphasised how
NESTLÉ NESTLÉ EVERYDAY milk powder meets the nutritional needs of the whole family, with above and
PROFESSIONAL below-the-line communications spanning from a television commercial to digital platforms and in-store
promotions.
These campaigns enabled us to enhance our brand image and proposition of providing nourishment for the whole
family, solidifying our position in the Family Milk Powder category.
Representatives distributing our NESTLÉ EVERYDAY Bekalan Nutrisi packs to nourish families in need with the goodness
of milk.
NESTLÉ OMEGA PLUS EMPOWERING MALAYSIANS TOWARDS BETTER HEART HEALTH

For the 21 st consecutive year, we empowered Malaysians to take charge of their heart health with the
NESTLÉ OMEGA PLUS Walk a Million Miles campaign. In conjunction with World Heart Month in September 2021,
the campaign was held virtually for the second year, enabling us to reach out to more Malaysians nationwide to 39
walk for their heart health while staying safe in the current pandemic environment.
Not only did we meet our target, we surpassed it with close to 13,000 participants collectively clocking in almost
1.2 million steps. With this achievement, we also fulfilled our pledge to donate RM100,000 to our long-standing
partners, Institut Jantung Negara Foundation and Yayasan Jantung Malaysia.
Our successful virtual Walk a Million Miles campaign contributed to positive growth with key business metrics
achieved, enabling the NESTLÉ OMEGA PLUS brand to retain its position as a trusted heart health brand.
In place of our annual engagement activities with People’s Housing Project (PPR)
residential areas prior to COVID-19, we partnered with NGO, Empire Project
for our NESTLÉ EVERYDAY Bekalan Nutrisi campaign. Aimed at educating
consumers on the importance of nutrition, we reached out to families
Annual Review
in need in 2021 by distributing more than 20,000 Bekalan Nutrisi packs
containing NESTLÉ EVERYDAY and NESTUM products, providing nutrition
for underprivileged communities, which was all the more important amid the
[ From Left] Lam Pui Yuee and Juan Aranols virtually launching the NESTLÉ OMEGA PLUS Walk A Million Miles campaign.
pandemic.
Our Business Review
Our nutrition segment remained resilient throughout the pandemic by directing marketing and
NUTRITION
engagement efforts toward educating consumers on the wide range of benefits and features of our
MILO
products, whilst meeting their needs for affordable nutrition.
POSITIONING LACTOGROW AKTIF AS THE IDEAL CHOICE FOR PARENTS

FOODS Mindful that consumers are increasingly conscious of affordability amid the pandemic, we relaunched
our LACTOKID range as LACTOGROW Aktif in January 2021, offering parents nutritional products at
the right price point within the mainstream Growing-up Milk (GUM) category. A specially formulated
milk powder, LACTOGROW Aktif is high in calcium combined with DHA and 18 important vitamins and
COFFEE
minerals. Supporting optimal growth for children aged one to six years old, just two servings per day
helps to achieve their Recommended Nutrition Intake.
READY-TO-DRINK Sporting a refreshed look that enhances brand appeal, LACTOGROW Aktif continues to deliver the
same nutritional goodness. To drive awareness on the revamped range, we held a virtual media launch
featured on popular mainstream news programme, TV3 Buletin Utama. We also partnered with Billion
PLANT-BASED supermarket in Semenyih for a livestream segment on Shopee Live to promote LACTOGROW Aktif and
MEAL strengthen sales. As a result, we achieved significant double-digit organic growth in 2021 compared
SOLUTIONS
to 2020.
40
ICE CREAM
With more than 150 years of experience in

CONFECTIONERY
delivering balanced and age-appropriate nutrition
worldwide, we continue to be a trusted provider
of science-backed products that help parents
MILKS raise happier and healthier children.
In 2021, to contribute towards addressing

prevalent health and nutrition challenges in
NUTRITION
Malaysia, we remained focused on supporting
the optimum growth and development of
children. With parents increasingly selective in
HEALTH SCIENCE seeking out products that are both nutritious and
affordable, we positioned our LACTOGROW and Scan the QR code to catch our 2021 LACTOGROW Aktif advertisement!
LACTOGROW Aktif products as ideal choices for

Annual Review
NESTLÉ parents and explored new avenues of growth for

PROFESSIONAL our brands.
CREATING ‘GROW HAPPY’ MOMENTS
As a `Grow Happy’ brand, we strive to be a trusted partner for parents by providing positive parenting tips through LACTOGROW `Inspirasi Grow Happy’. Under this initiative, we shared ideas
for fun activities alongside practical tips for healthy growth and learning, ensuring families in Malaysia continue to enjoy `Grow Happy’ moments at home despite the pandemic.
LACTOGROW `Inspirasi Grow Happy’ was featured daily on popular TV3 talk shows, where a total of 69 tips were shared as a lead up to International Day of Happiness in March 2021, generating
top-of-mind awareness among consumers. Additionally, we leveraged the talk shows to highlight the benefits of our LACTOGROW products, which contains our exclusive probiotic L. reuteri to
support good gut health from a young age. To heighten engagement with parents as well as appeal to new consumers, we also held an Instagram filter contest, with LACTOGROW formulated
milk powder for children up for grabs as prizes.
With an outreach of over 4 million via television and social media coupled with close to 200,000 engagements on social media, we successfully strengthened brand awareness and affinity.
Ultimately, this helped to increase the LACTOGROW brand’s market penetration by 13% compared to 2020.
CREATING NEW CONSUMPTION OPPORTUNITIES FOR CERELAC

With a growing number of parents seeking more nutritious options for their children, we launched our innovative
new product, CERELAC Citarasa Ibu, which also allowed us to extend the consumption opportunity for CERELAC
beyond the weaning stage, tapping into a new segment for the brand. A savoury porridge available in Bubur Ayam
and Bubur Sayur-sayuran variants, the product contains nutritious natural ingredients along with rice crispies to
satiate the urge to chew as children reach new development milestones.
41
To overcome COVID-19 related restrictions which prevented in-store wet sampling for CERELAC Citarasa Ibu, we
tapped into digital sampling via social media and offered gift-with-purchases for LACTOGROW GUM products,
reaching out to over 4 million mothers with over 50,000 engagements via KOL social media postings.
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In view of the MCO restrictions, we organised a virtual launch to introduce CERELAC Citarasa Ibu to Malaysians. Scan
the QR code to watch the recording!
Our Business Review
UNLOCKING NEW OPPORTUNITIES WITH NUTREN GLUCOSMART
HEALTH SCIENCE
Equipped with our global R&D expertise as well as keen insights into the needs and preferences of
MILO
local consumers, we successfully launched our first novel food supplement, NUTREN GLUCOSMART.
With an estimated 23.6% of Malaysian adults at risk of developing diabetes2, we aim to provide a
convenient and user-friendly solution that can be easily integrated into consumers’ daily meals.
FOODS Containing our proprietary mulberry leaf extract which is beneficial for healthy blood glucose levels,
NUTREN GLUCOSMART need only be sprinkled onto meals before consuming to disrupt carbohydrate
digestion for a healthier diet suitable for prediabetic consumers.
COFFEE
Complementing our product launch, we established a new digital platform, the Prediabetes Programme.
The platform enables consumers to conduct diabetes risk assessments, in addition to providing tailored
recommendations for prediabetes-friendly meal plans.
READY-TO-DRINK
The introduction of NUTREN GLUCOSMART has reinforced the leading position of NHS at the forefront
of diabetes management in Malaysia, as we are able to support primary healthcare providers with an
PLANT-BASED ideal science-backed nutrition solution for both pre-diabetic and diabetic patients. This has allowed
MEAL NHS to better penetrate the primary healthcare segment.
SOLUTIONS
42
ICE CREAM
To deliver nutrition solutions that cater to the needs

CONFECTIONERY
of a wide spectrum of consumers, our Nestlé Health
Science (NHS) portfolio comprises high-quality
products that leverage science-based innovations,
targeted at addressing specific dietary requirements.
MILKS
In 2021, the COVID-19 pandemic continued to

pose a challenge for our NHS segment as medical
NUTRITION tourism and professional healthcare consultation
services remained disrupted. To mitigate the impact,
we maintained business momentum by reinforcing
our direct-to-consumer communications and
HEALTH SCIENCE exploring new sales avenues beyond hospitals and
pharmacies. With these efforts in place, we are on
track to achieve our goals with encouraging growth
Annual Review
momentum post COVID-19 as consumers have NUTREN GLUCOSMART contains our proprietary mulberry leaf extract, beneficial in maintaining healthy
NESTLÉ blood glucose levels. Scan the QR code to learn how mulberry leaf extract can help.
PROFESSIONAL become more proactive in caring for their health.
2
“National Survey Health and Morbidity (NHMS) 2020.” Institute for Public Health (IKU), 2020.
BRINGING VITALITY TO LIFE WITH NUTREN OPTIMUM
Taking our #OptimumStrengthOptimumLiving campaign that was first launched in 2020 to the next step, we focused on enhancing NOVASOURCE Renal
appeal to our target consumers aged 50 and above. Guided by our consumer insights, our campaign inspired them to achieve their Featuring a refreshed packaging, the new and
desired lifestyle aspirations of holistic health and wellness, balancing physical and mental well-being, effective illness prevention and improved formulation for our NOVASOURCE
an active way of life. Renal provides optimised serving size,

taste and flavour to deliver the latest
medical nutrition therapy. This delicious and
Responding to the post-pandemic shift among consumers from traditionally reactive to proactive healthcare, we continued building on
nutritionally-balanced product is tailored for
our direct-to-consumer communication strategy to convey the efficacy of the product and maximise brand engagement. This entailed
individuals who require enteral feeding, such
leveraging digital channels and word-of-mouth recommendations from healthcare professionals, to help consumers make informed
as those with chronic or acute renal disease or
decisions for their health.
those facing electrolyte restrictions.
Underpinned by our simple yet impactful tagline, #OptimumStrengthOptimumLiving, we also raised awareness through above-the-line
platforms with a television advertisement and via social media, as well as through below-the-line channels with in-store activations
across the nation.

43
OPTIFAST Cereal Bar

The OPTIFAST Cereal Bar is a nutritionally
complete offering for consumers embarking
on a weight management journey with very
low-calorie diets. Packed with carbohydrates,
protein, fatty acids, vitamins and minerals,
this convenient solution meets nutritional
needs while ensuring consumers feel satiated
as they work towards their health goals.
Scan the QR code to catch our NUTREN #OptimumStrengthOptimumLiving television advertisement.
Annual Review
The campaign was well-received and resulted in encouraging sales growth. The compelling nature of our television advertisement,
which featured consumers aged 50 years and above enjoying everyday moments with vitality supported by well-balanced nutrition,
garnered 3 million views, leading to a 141% increase in sample requests compared to 2020.
Our Business Review
In view of this and as part of our strategy to drive business recovery, we realigned our priority channels
NESTLÉ
for NESTLÉ PROFESSIONAL, adapting our sales structure and product offerings to maintain strong
MILO
brand relevance.
PROFESSIONAL
FOODS
COFFEE
READY-TO-DRINK
PLANT-BASED
MEAL
SOLUTIONS
44
ICE CREAM
Delivering innovative F&B solutions

CONFECTIONERY
for the foodservice industry, NESTLÉ
PROFESSIONAL offers high-quality
products from well-established household
MILKS brands such as MILO, MAGGI and
NESCAFÉ, supporting F&B businesses
and operators to continue delighting OOH
NUTRITION
consumers.
INNOVATIVE FLEXIBLE SOLUTIONS TO FULFIL OUT-OF-HOME NEEDS
As OOH channels remained significantly Responding to increasing market demand for barista-style beverages, we introduced our all-new roast
affected by the challenges of COVID-19, and ground machine in 2021, helping us establish our presence in new growing commercial outlets.
HEALTH SCIENCE Further amplifying our reach to potential customers and driving placements at new outlets, we executed
this led to shifting consumer and operator
multiple online campaigns throughout the year, complemented by attractive offers of roast and ground
trends in 2021.
machine trade packages. This enabled us to successfully penetrate many new outlets across Malaysia
Annual Review
NESTLÉ in 2021. Additionally, we embarked on nationwide consumer campaigns targeting more productive
PROFESSIONAL channels with greater consumption opportunities, including healthcare facilities, factory canteens,
cloud kitchens which operate on a delivery-only model, restaurants and modern grocery marts.
Conscious of the difficulties faced by F&B operators during the pandemic, we also leveraged
this as an opportunity to help them weather through this tough period. With a relatively smaller
size and the flexibility to create various café-style drinks, this cost-effective machine enables
our business-to-business customers to maintain manageable margins.
Meanwhile, we also provided OOH customers with refreshing, `better-for-me’ beverage options
for their menus, including the new Nestlé Lemonade flavours, Pink Lemonade and Cucumber
Lemonade. With an affordable price point, Nestlé Lemonade serves as a versatile product for
operators to develop their own unique creations to support profitable margins, thus helping to
enhance their business prospects. Despite the challenging OOH environment, we successfully
won Limited Time Offer windows with key clientele such as KFC, Marrybrown and Kyochon,
amplifying awareness and consumer reach.
CAPTURING CONSUMPTION OPPORTUNITIES FOR ‘WE PROUDLY SERVE STARBUCKS’

Building on the success of the WE PROUDLY SERVE STARBUCKS debut in 2019 and pilot
placement in 2020, we further expanded across community hubs in 2021, offering premium
coffee solutions in strategic areas where consumers study, work and play.
Conscious of safety and hygiene concerns amid the pandemic, we also deployed anti-
45
viral and anti-bacterial self-disinfecting screen protectors for our coffee machines at many CURATING OFFERINGS TO BOOST BUSINESS RECOVERY
WE PROUDLY SERVE STARBUCKS Cashless Self-Serve kiosks, providing both our OOH To further help our OOH customers unlock new prospects amid the pandemic, whilst
partners and consumers with peace of mind while utilising our coffee solutions on-the-go. accelerating opportunities for our NESTLÉ PROFESSIONAL segment, we curated delicious and
unique recipes to help food operators generate excitement amongst their consumers. Through
We will continue to work towards capturing stronger share of throat and accelerate recovery as our insights on current consumer trends and taste profiles, we were able to provide customers
OOH channels see better prospects ahead. with creative, operator-friendly concoctions to enhance their menus, encouraging improved
sales beyond traditional promotions.
Through this initiative, we secured successful product listings with key businesses, such as Iced
Blended Mango Peach and Ice Blended MILO with McDonald’s, Gong Cha’s KIT KAT Bubble Tea
and TeaLive’s NESTUM Banjir Chicken.
Nestlé NESTUM Sprinkle

A ready-to-eat multigrain cereal mix with a
crunchy texture and toasted curry leaves,
Annual Review
Nestlé NESTUM Sprinkle is ideal for food
operators and chefs to enhance their
New machine placements enabled us to extend our WE PROUDLY SERVE STARBUCKS offerings to
more consumers. finished dishes in just one simple step.
Our Leadership - Board of Directors and Company Secretary
1 Chin Kwai Fatt
2 Juan Aranols
3 YAM Tan Sri Dato’ Seri Syed

1 2 Anwar Jamalullail
4 Tengku Ida Adura Tengku Ismail
5 Datin Sri Azlin Arshad
6 YM Dr. Tunku Alina Raja

3 Muhd. Alias
7 Craig Connolly
4
8 Dato’ Hamidah Naziadin

46 (not in picture)
*Declarations by the Board:
• None of the Directors own any

shares in Nestlé (Malaysia) Berhad.
• None of the Directors have any
7
conflict of interest, any personal
5 interest or any family relationship
with any other Director and/or
6
major shareholders of the Group.
• None of the Directors have been
convicted for any offences within
the past 5 years nor have they
been imposed with any public
sanction or penalty by any relevant
regulatory bodies, other than
Annual Review
traffic offences (if any).

YAM TAN SRI DATO’ SERI SYED ANWAR JAMALULLAIL CHIN KWAI FATT
Chairman, Non-Independent Non-Executive Director Independent Non-Executive Director
Gender - Male Age - 70 Nationality - Malaysian Gender - Male Age - 66 Nationality - Malaysian
DATE OF APPOINTMENT(S) PRESENT DIRECTORSHIPS DATE OF APPOINTMENT(S) PRESENT DIRECTORSHIP 47

• 25 February 2002 (Non-Independent, • Chairman, Kenanga Investment Bank Berhad • 29 April 2021 • Independent Non-Executive Director, Dialog
Non-Executive Director) • Chairman, SP Setia Berhad Group Berhad
• 5 November 2004 (Re-designated as MEMBERSHIP OF BOARD COMMITTEES
Independent, Non-Executive Director) OTHER APPOINTMENTS
• Chairman of the Audit Committee OTHER APPOINTMENTS
• 16 April 2009 (Chairman) • Chairman, Lembaga Zakat Selangor
• Independent Non-Executive Director,
• 20 February 2018 (Re-designated as • Chancellor, SEGi University
BOARD MEETING ATTENDANCE IN THE Prudential Assurance Malaysia Berhad
Non-Independent, Non-Executive Director)
PAST EXPERIENCES FINANCIAL YEAR
MEMBERSHIP OF BOARD COMMITTEES • Chairman, Malaysia Airport Holdings Berhad PAST EXPERIENCES
• Chairman of the Governance, Nomination and • Chairman, Cahya Mata Sarawak Berhad Attended all 3 meetings 3/3 • Senior Advisor, Creador Sdn. Bhd.
Compensation Committee • Chairman, Malakoff Corporation Berhad • Various senior management positions in
• Member of the Audit Committee • Chairman, Media Prima Berhad ACADEMIC/ PROFESSIONAL PricewaterhouseCoopers Group (PwC)
• Chairman, MRCB Berhad QUALIFICATIONS in Malaysia, including Managing Partner,
BOARD MEETING ATTENDANCE IN THE • Chairman, DRB-Hicom Berhad • Fellow Member of the Institute of Chartered Corporate Finance Leader of PwC Malaysia
FINANCIAL YEAR • Chairman, EON Bank Berhad
Accountants in England and Wales (ICAEW) and Senior Advisor of PwC South East Asia
• Chairman, Uni Asia Life Assurance Berhad
• Member of the Malaysian Institute of Corporate Finance.
Attended all 6 meetings 6/6 • Chairman, Uni Asia General Insurance Berhad
Accountants (MIA) • Audit Senior, Touché Ross, London
• Chairman, Lembaga Tabung Haji Investment
ACADEMIC/ PROFESSIONAL QUALIFICATIONS Panel • Member of the Malaysian Institute Certified
• Bachelor of Arts in Accounting, Macquarie • Independent Director, Maxis Communications Public Accountants (MICPA)
University, Sydney, Australia Berhad • Bachelor of Science (Economics), University
• Chartered Accountant • Independent Director, Bangkok Bank Berhad of Hull, United Kingdom
• Member of Certified Practising Accountant • Group Managing Director, Amanah Capital
(CPA) Australia Partners Berhad
• Member of the Malaysian Institute of • Financial Accountant, Malaysian Airlines
Annual Review
Accountants Systems Berhad
• Court of Emeritus Fellows, Malaysian Institute
of Management
DATO’ HAMIDAH NAZIADIN DATIN SRI AZLIN ARSHAD

Independent Non-Executive Director Independent Non-Executive Director
Gender - Female Age - 58 Nationality - Malaysian Gender - Female Age - 48 Nationality - Malaysian
48 DATE OF APPOINTMENT(S) • Independent Non-Executive Director, MR DATE OF APPOINTMENT(S) PAST EXPERIENCES

1 May 2020 D.I.Y Group (M) Berhad 1 May 2020 • Commercial Director, MEASAT Broadcast
Network Systems Sdn. Bhd.
MEMBERSHIP OF BOARD COMMITTEES OTHER APPOINTMENTS MEMBERSHIP OF BOARD COMMITTEES • Director, Astro Awani Network Sdn. Bhd.
• Member of the Governance, Nomination • Chairman, Remuneration Committee, • Member of the Audit Committee • Deputy Chairman, Independent
and Compensation Committee Maxis Berhad Non-Executive Director, Syarikat Takaful
• Member of the Razak School of BOARD MEETING ATTENDANCE IN THE Keluarga Malaysia Berhad
BOARD MEETING ATTENDANCE IN THE Government’s Leadership Development FINANCIAL YEAR • Vice President, Industrial Development
FINANCIAL YEAR Committee Division Johor Corporation
• Board Member, Majlis Sukan Negara Attended all 6 meetings 6/6 • Non-Independent, Non-Executive Director,
Attended all 6 meetings 6/6 QSR Holdings Berhad
PAST EXPERIENCES ACADEMIC/ PROFESSIONAL • Chief Operating Officer-NJOI, ASTRO’s
ACADEMIC/ PROFESSIONAL • Advisory Council Member, Faculty of
QUALIFICATIONS Prepaid Satellite TV
QUALIFICATIONS Business and Accountancy, University of
• Honours Degree in Accounting and • Group CEO, ECM Libra Financial Group
• Bachelor of Laws, University of Malaya
Finance, University of Glamorgan (now Berhad
Wolverhampton, United Kingdom • Chief Executive Officer, CIMB Foundation
known as University of South Wales) • Deputy CEO, ECM Libra Investment Bank
• Certificate in Personnel Management, • Group Chief People Officer, CIMB Group
• Graduate of ICLIF’s High Performers’ Berhad (ECMLIB)
Malaysian Institute of Personnel • Member of Board of Commissioners, CIMB
Leadership Programme • Head of Investment Banking & Head of
Management Niaga
Structured Finance, ECMLIB
• Certified in-house Facilitator - Franklin • Member of Nomination and Remuneration
PRESENT DIRECTORSHIP • Director & Head of Corporate Finance,
Covey’s The 7 Habits of Highly Effective Committee, CIMB Niaga
People® • President of Malaysian Commercial Banks • Nil ECMLIB
Association (MCBA) • Vice President (Team Head), Maybank
PRESENT DIRECTORSHIP • Head of Group Corporate Resources, CIMB OTHER APPOINTMENTS Investment Bank Berhad
• Independent Non-Executive Director, Group • Chief Marketing Officer, Prudential BSN • Assistant Vice President, Maybank
Annual Review
Maxis Berhad • Head of Human Resources, CIMB Takaful Berhad Investment Bank Berhad
• Independent Non-Executive Director, Sime Securities Sdn. Bhd. • Committee Member, Tabung PPUM Care, • Mentor for ICAEW’s Women in Leadership
Darby Property Berhad • Personnel Officer, The Pacific Bank Berhad Pusat Perubatan Universiti Malaya Programme
YM DR. TUNKU ALINA RAJA MUHD. ALIAS JUAN ARANOLS
Independent Non-Executive Director Chief Executive Officer, Executive Director
Gender - Female Age - 58 Nationality - Malaysian Gender - Male Age - 53 Nationality - Spanish
DATE OF APPOINTMENT(S) • Independent Non-Executive Director, DATE OF APPOINTMENT(S) OTHER APPOINTMENTS 49

21 June 2021 Batu Kawan Berhad 1 December 2018 • Chairman, Malaysian Recycling Alliance
Berhad
MEMBERSHIP OF BOARD COMMITTEES OTHER APPOINTMENTS ALTERNATE DIRECTOR • Council Member, Federation of Malaysia
• Member of the Governance, Nomination and • Director, Chairperson, J A Russell & Company Alessandro Monica Manufacturers (FMM)
Compensation Committee Sdn. Bhd. • Chairman, FMM Sustainability Committee
• Consultant / Lawyer, Wong Lu Peen & Tunku MEMBERSHIP OF BOARD COMMITTEES
BOARD MEETING ATTENDANCE IN THE Alina, Advocates & Solicitors
• Nil PAST EXPERIENCES
FINANCIAL YEAR • Associate Mediator of Singapore Mediation
• Chief Financial Officer of Zone Asia, Oceania &
Centre and Malaysian Bar Council
BOARD MEETING ATTENDANCE IN THE sub-Saharan African, Nestlé S.A.
Attended all 2 meetings 2/2 • Council Member, Climate Governance
FINANCIAL YEAR • Senior Vice President, Head of Global Group
Malaysia
Control, Nestlé S.A.
ACADEMIC/ PROFESSIONAL QUALIFICATIONS • Trustee, Raja Alias Foundation
• PhD in Islamic Finance, International Centre Attended all 6 meetings 6/6 • Chief Financial Officer, Nestlé Iberian region
for Education in Islamic Finance, Malaysia PAST EXPERIENCES • Chief Financial Officer, Nestlé Caribbean
• Master in Laws (LLM) (Corporate and • Non-Independent Non-Executive Director, ACADEMIC/ PROFESSIONAL QUALIFICATIONS region
Commercial Law), King’s College, London, Chemical Company of Malaysia Berhad • Bachelor of Economic Science and Business, • Chief Financial Officer, Nestlé Plata region
United Kingdom • Independent Non-Executive Chairperson, University of Barcelona, Spain • Finance Manager of Nestlé Ice Cream and
• Advanced Management Programme, Oxford Harps Holding Berhad • Executive Development Programme, Frozen Food business, Nestlé Italy
University - Green Templeton College • Chair of the governing council, Yayasan CCM International Institute for Management • Strategic Business Controller, Nestlé S.A.
• Bachelor of Laws, University of Malaya, • Non-Independent Non-Executive Director, Development (IMD), Lausanne, Switzerland • Auditor, Nestlé Spain
Malaysia MBSB Bank Berhad
• Independent Non-Executive Director, Malaysia PRESENT DIRECTORSHIP
PRESENT DIRECTORSHIPS Building Society Berhad • Nil
• Independent Non-Executive Director, • Partner, Wong Lu Peen & Tunku Alina,
Annual Review
IJM Corporation Berhad Advocates & Solicitors
• Independent Non-Executive Director, • Legal Assistant, Skrine & Co. Position
Malaysian Pacific Industries Berhad AR The profile of Alessandro Monica can be found on page 53 of this report.
CRAIG CONNOLLY TENGKU IDA ADURA TENGKU ISMAIL

Chief Financial Officer, Executive Director Company Secretary
Gender - Male Age - 54 Nationality - Australian Gender - Female Age - 49 Nationality - Malaysian
50 DATE OF APPOINTMENT(S) PRESENT DIRECTORSHIP DATE OF APPOINTMENT(S) OTHER APPOINTMENTS

1 February 2019 • Nil 6 August 2013 • Director, ICC Malaysia Berhad
• Chairman for ICC Corporate
ALTERNATE DIRECTOR OTHER APPOINTMENTS BOARD MEETING ATTENDANCE IN THE Responsibility & Anti-Corruption working
Shahzad Umar • Committee Member, FMM Strategic FINANCIAL YEAR Committee
Policies Committee • Malaysian Trustee, ASEAN CSR Network
MEMBERSHIP OF BOARD COMMITTEES • Committee Member, Swiss Malaysian Attended all 6 meetings 6/6 • Vice Chairman, FMM Business Ethics &
• Nil Business Association Governance Committee
ACADEMIC/ PROFESSIONAL
BOARD MEETING ATTENDANCE IN THE PAST EXPERIENCES QUALIFICATIONS PAST EXPERIENCES
FINANCIAL YEAR • Chief Financial Officer, Nestlé Vietnam • Bachelor of Laws from the University of • Legal Counsel for Zone Asia, Oceania,
• Head of Nestlé Business Services (NBS), Nottingham, United Kingdom Africa & Middle East, Nestlé S.A.
Attended all 6 meetings 6/6 Philippines • Barrister-at-Law of the Honourable • Legal Counsel, Nestlé Malaysia
• Finance Shared Services Manager, Nestlé Society of Lincoln’s Inn • Legal Manager, Kumpulan Guthrie
ACADEMIC/ PROFESSIONAL Oceania • Diploma in Syariah Law and Legal Berhad
QUALIFICATIONS • National Credit Manager, Nestlé Oceania Practice, International Islamic University • Legal Practitioner
• Graduated from the Macquarie • Key Customer Service Manager, Nestlé of Malaysia
University, Australia Oceania • Called to the Malaysian Bar
• Executive Development Programme, • Leadership Course, London Business
International Institute for Management School, United Kingdom
Development (IMD), Lausanne, • Leadership Course, Melbourne Business
Switzerland School, Australia
• Leadership Course, London Business
Annual Review
School, United Kingdom PRESENT DIRECTORSHIP

• Nil
AR The profile of Shahzad Umar can be found on page 55 of this report.
THE FOLLOWING DIRECTORS HAVE RETIRED SINCE THE 37TH AGM IN 2021:
DATE OF APPOINTMENT(S)
• 1 June 2007 (Non-Independent, Non-Executive Director)
• 7 August 2008 (Re-designated as Independent, Non-Executive Director)
DATE OF RETIREMENT
28 April 2021
MEMBERSHIP OF BOARD COMMITTEES

• Chairman of the Audit Committee
• Member of the Governance, Nomination and Compensation Committee
BOARD MEETING ATTENDANCE IN THE FINANCIAL YEAR
Attended all 3 meetings before retirement 3/3
ACADEMIC/ PROFESSIONAL QUALIFICATIONS

• Chartered Accountant, Malaysian Institute of Accountants
• Fellow of the Association of Chartered Certified Accounts, United Kingdom
DATO’ MOHD. RAFIK BIN SHAH MOHAMAD • Executive Development Programme, International Institute for Management Development (IMD), Lausanne,
Switzerland
Independent Non-Executive Director 51
Gender - Male Age - 71 Nationality - Malaysian
DATE OF APPOINTMENT(S)
27 April 2018
DATE OF RETIREMENT
28 April 2021
MEMBERSHIP OF BOARD COMMITTEE

• Member of the Governance, Nomination and Compensation Committee
BOARD MEETING ATTENDANCE IN THE FINANCIAL YEAR
Attended all 3 meetings before retirement 3/3

• Degree in Medicine from the University of Mysore, India (First Class Distinction).
DATO’ DR. NIRMALA MENON
Annual Review
Independent Non-Executive Director
Gender - Female Age - 62 Nationality - Malaysian
Our Leadership - Executive Leadership Team
JUAN ARANOLS CRAIG CONNOLLY

Chief Executive Officer Chief Financial Officer
Date of Appointment - 1 December 2018 Date of Appointment - 1 February 2019
Gender - Male Age - 53 Nationality - Spanish Gender - Male Age - 54 Nationality - Australian
52
About Our Leadership About Our Leadership
BACKGROUND BACKGROUND
Juan Aranols first joined the Company in 1990 as an Internal Auditor with Nestlé Spain. He Craig Connolly first started out at Nestlé Oceania in 1986, serving in various senior capacities
later assumed the position of Strategy Business Controller for a number of categories under such as Key Customer Service Manager, National Credit Manager and Finance Shared Services
Nestlé S.A., Switzerland, and was subsequently appointed Controller of the Ice Cream and Manager. Subsequently, he took on the role of Head of Nestlé Business Services (NBS) in the
Frozen Food businesses for Nestlé Italy. He then served as Chief Financial Officer (CFO) for Philippines, where he led the establishment of NBS Centres in Manila and Cairo which provide
the Plata region (Argentina, Uruguay, Paraguay). Following this, he was appointed as CFO of services to the AOA markets. He was then appointed CFO of Nestlé Vietnam in 2014.
the Caribbean and Iberian regions in 2005 and 2008 respectively. He took on the role of Senior
Vice President at Nestlé S.A. in charge of global Group Control in 2012, before becoming ACADEMIC/ PROFESSIONAL QUALIFICATIONS
CFO for Zone AOA in 2015, coordinating also the Confectionery and NESTLÉ PROFESSIONAL • Graduated from Macquarie University, Sydney, Australia
businesses. Juan is passionate about environmental preservation and champions this cause • Executive Development Programme, International Institute for Management
throughout the Group, as well as via his current role as Chairman of the newly formed Development, Lausanne, Switzerland
Malaysian Recycling Alliance (MAREA) and Chairman of FMM’s Sustainability Committee. • Leadership Course, London Business School, United Kingdom

• Bachelor of Economic Science and Business, University of Barcelona, Spain
Annual Review
• Executive Development Programme, International Institute for Management

Development, Lausanne, Switzerland
• Leadership Course, London Business School, United Kingdom
CHEW SOI PING ALESSANDRO MONICA DATO’ ADNAN PAWANTEH
Executive Director, Sales Executive Director, Technical & Production Executive Director, Corporate Affairs
Date of Appointment - 1 November 2015 Date of Appointment - 1 August 2017 Date of Appointment - 1 April 2020
Gender - Male Age - 62 Nationality - Malaysian Gender - Male Age - 51 Nationality - Italian Gender - Male Age - 60 Nationality - Malaysian
53
About Our Leadership About Our Leadership About Our Leadership
BACKGROUND BACKGROUND BACKGROUND

Chew Soi Ping began his career at Nestlé Malaysia as a Alessandro Monica joined Nestlé Italy in 1998, serving a number Beginning his career with Nestlé Malaysia as a Trainee Engineer
Management Trainee in 1988, where he gained valuable of roles such as Head of Engineering; Market Safety, Health and in 1984, Dato’ Adnan went on to helm several roles within the
experience in the management of key brands such as MAGGI, Environment Officer; and Factory Manager for the Ice Cream, Technical area for over 30 years, including being posted to Nestlé
Chilled Dairy, Milks and Ice Cream. He was then expatriated to Culinary, Chilled and Nutrition businesses. He was appointed Australia, Turkey and Philippines. Along with his current role as
Vevey, Switzerland in 2006 as Zone AOA Regional Zone Assistant Operations Manager for the Ice Cream Strategic business unit Executive Director of Corporate Affairs at Nestlé Malaysia, he is
Adviser for the ASEAN, India, Sri Lanka and Bangladesh markets. in Nestlé Switzerland in 2011, playing a key role in putting in also responsible for the Company’s Sustainability, Government
Following this, he took on several senior roles, such as Executive place improvement strategies for competitive operations along Relations, Corporate Nutrition, Consumer Services and Halal
Director for Ice Cream and Nestlé Continuous Excellence, as the value chain, as well as contributing to the enhancement of Affairs profiles. With a keen interest in sustainability and the
well as Senior Vice President for the Ice Cream business in the managing total cost competitiveness. environment, Dato’ Adnan plays a key role in leading Nestlé
Philippines. Malaysia’s sustainability projects focusing on reforestation and
ACADEMIC/ PROFESSIONAL QUALIFICATIONS plastic circularity, amongst other areas. Aside from this, he also
ACADEMIC/ PROFESSIONAL QUALIFICATIONS • Degree in Mechanical Engineering, University of Parma, Italy serves as Chairman of the FMM Malaysian Food Manufacturing
• Masters in Business Administration, University of Central Group.
Arkansas, USA
• Bachelor of Science in Marketing (Hons), University of ACADEMIC/ PROFESSIONAL QUALIFICATIONS
Annual Review
Ozarks, Arkansas, USA • Masters of Business Administration in Management,
• Leadership Course, London Business School, United Kingdom Ohio University, USA
• Marketing Course, International Institute for Management • Bachelor’s Degree in Engineering, Loughborough University,
Development, Lausanne, Switzerland United Kingdom
Our Leadership - Executive Leadership Team
TENGKU IDA ADURA TENGKU ISMAIL NG SU YEN GEETHA BALAKRISHNA

Executive Director, Legal & Secretarial Business Executive Officer, MILO Business Executive Officer, Foods
Date of Appointment - 1 January 2017 Date of Appointment - 1 January 2020 Date of Appointment - 1 January 2020
Gender - Female Age - 49 Nationality - Malaysian Gender - Female Age - 43 Nationality - Malaysian Gender - Female Age - 57 Nationality - Malaysian
54

Tengku Ida joined Nestlé Malaysia in 2005 as a Legal Counsel. Ng Su Yen began her journey with the Company by joining the Geetha Balakrishna began her career as a Management Trainee
In 2010, she took on the role of Legal Counsel for Zone AOA and New Talent Management programme in 2004, starting out as in Nestlé Malaysia in 1988. She subsequently left to join Mattel,
the Middle East in Nestlé S.A., Switzerland. She later returned to a Field Sales Executive, and later transferred to Head Office in Inc. in various marketing and commercial leadership roles,
Malaysia in 2013, where she currently leads the legal, secretarial Brand Management MILO. In 2011, she joined the MILO Strategic followed by Cerebos Pacific Ltd. in Singapore. She later returned
and compliance functions for Nestlé Malaysia and Singapore. business unit in Vevey, Switzerland and later returned to Malaysia to Nestlé in 2011 as Marketing Director for Food and Dairy at
as Consumer Marketing Manager for MILO. She was assigned as Nestlé Singapore before being appointed as Business Executive
ACADEMIC/ PROFESSIONAL QUALIFICATIONS Business Executive Officer (BEO) for Milks and the RTD businesses Manager for the MAGGI Food business in Nestlé Philippines and
• Bachelor of Laws (Hons), University of Nottingham, prior to her current role which came into effect in March 2020. as Foods BEO in Malaysia since August 2017. Geetha strongly
United Kingdom Su Yen now drives the MILO Business as a brand with purpose, advocates building brands with purpose, with a focus on women
• Barrister-at-Law of the Honourable Society of Lincoln’s Inn, anchored in sustainability. MILO Sayang Bumi was launched in empowerment initiatives. Under her leadership, Program Mentor
United Kingdom 2021, and is leading the sustainability journey to continuously Wanita Cukup Berani MAGGI was successfully created to
• Called to the Malaysian Bar enhance our products and processes for the good of the planet. encourage and empower women to step outside of their comfort
• Diploma in Syariah Law & Legal Practice, International zone and make a positive difference for themselves, their families
Islamic University of Malaysia ACADEMIC/ PROFESSIONAL QUALIFICATIONS and communities.
• Leadership Course, London Business School, • Masters of Business, University of New South Wales,
Annual Review
United Kingdom Australia ACADEMIC/ PROFESSIONAL QUALIFICATIONS

• Leadership Course, Melbourne Business School • Bachelor of Business, University of Technology, Sydney, • Bachelor of Management Degree (Hons), Universiti Sains
Australia Malaysia
SALMAN NAZIR YIT WOON LAI SHAHZAD UMAR
Executive Director, Supply Chain Business Executive Officer, NESTLÉ PROFESSIONAL Executive Director, Human Resources
Date of Appointment - 1 February 2018 Date of Appointment - 1 August 2019 Date of Appointment - 1 March 2016
Gender - Male Age - 58 Nationality - Pakistani Gender - Female Age - 51 Nationality - Malaysian Gender - Male Age - 44 Nationality - Pakistani
55

Starting out as a Management Trainee at Nestlé Pakistan in 1993, Yit Woon Lai started out as a Brand Executive for a Nestlé Ice Cream Shahzad Umar began as a Management Trainee with Nestlé Pakistan
Salman Nazir has since served in various capacities including joint venture in 1995. She went on to take on various roles with in 2001, taking on senior roles in Human Resources. He was later
Factory Controlling, Project Management, IT, Procurement and the Company, including the roles of MILO Senior Brand Manager transferred to Thailand to oversee Compensation & Benefits for
Supply Chain Management. In 2002, he took on the position and Group Brand Manager of Chilled Dairy. She then helmed the Nestlé Indo-China. He joined Nestlé Malaysia as Human Resources
of Procurement Specialist at Nestec S.A., Switzerland. He later Chilled Dairy business and subsequently the Ice Cream business Manager for Organisational Development before returning to
returned to Pakistan as Corporate Procurement Manager before in 2012, before her current appointment as BEO for NESTLÉ Pakistan in 2012 to helm the Human Resources Division. He
assuming the role of Head of Supply Chain. He was appointed PROFESSIONAL Malaysia and Singapore which began in July currently spearheads the Human Resources department for Nestlé
Supply Chain Director of Nestlé South Africa in 2014, before Malaysia and Singapore.
2017. As the pandemic significantly affected OOH channels, Yit
moving to Malaysia in 2018.
led the team to manage evolving market dynamics and embrace
digital solutions to support OOH customers and strengthen the
ACADEMIC/ PROFESSIONAL QUALIFICATIONS • Degree in Mechanical Engineering from the University of
business to facilitate recovery in 2022.
• Bachelor of Science Degree, Punjab University Lahore, Engineering and Technology, Lahore, Pakistan
Pakistan • Leadership Course, London Business School, United
• Certified Management Accountant, Institute of Cost and Kingdom
• Bachelor’s Degree in Economics majoring in Business,
Management Accountants of Pakistan • Executive Development Course, International Institute for
University of Malaya
• Executive Development Course, International Institute for Management Development, Lausanne, Switzerland
Annual Review
Management Development, Lausanne, Switzerland • Executive Development Programme, International Institute • Masters of Business Administration, University of
• Organisational Leadership Course, London Business School, for Management Development, Lausanne Nottingham (Malaysia Campus)
United Kingdom
Our Leadership - Nestlé Leadership Team
The NESTLÉ HEALTH SCIENCE team welcoming [centre, back row] Jason Jezewski, who was
appointed as Business Executive Officer in December 2021.
NESTLÉ LEADERSHIP TEAM
THE MEMBERS OF OUR NESTLÉ LEADERSHIP TEAM

56 [ From left] April Wong and Ng Su Yen kicking off the virtual launch Juan Aranols showcasing the all-new HARVEST GOURMET products
CONTINUED TO BE ACTIVELY INVOLVED IN NUMEROUS of the MILO x Football Association of Malaysia partnership. during its factory launch.
ACTIVITIES, EVENTS AND ENGAGEMENTS THROUGHOUT

THE YEAR, RANGING FROM CORPORATE AND BRAND-
RELATED INITIATIVES TO ENVIRONMENTAL PROGRAMMES
AND MORE.
Annual Review
[Right] Frédéric Porchet with one of the Grand Prize winners of the KIT KAT Win Gold Contest. [ From left] Craig Connolly, Salman Nazir & Alessandro Monica during the PBMS factory launch.
[Second from right] Geetha Balakrishna celebrating the victory of the Resipi Berani MAGGI reality TV series [ From left] Floriane Novello showcasing the NESPRESSO `Kaleidoscope’ art installation made of recycled NESPRESSO coffee capsules,
competition winners. created in collaboration with renowned local artist, Red Hong Yi.
57
Annual Review
[Right] Teo Heng Keat and the Ice Cream team celebrating their RM500 million [ Right] Juan Aranols and other staff volunteers during the Nestlé Cares Chow Phee Chat holding up two of the 500 mangrove saplings that were later
sales milestone. (underwater) Beach Clean Up. planted at the Kuala Selangor Nature Park.
Our Leadership - Nestlé Leadership Team
[From left] Tengku Ida Adura, YAM Tan Sri Dato’ Seri Syed Anwar Jamalullail, Juan Aranols and Craig Connolly
during Nestlé (Malaysia) Berhad’s 37th Annual General Meeting, held virtually for the second year.
58 [Centre, right] Alessandro Monica bonding with the team while visiting the Jurong Factory.
[Centre] Yit Woon Lai and our NESTLÉ PROFESSIONAL team worked hard to expand machine placements for
WE PROUDLY SERVE STARBUCKS in 2021.
Annual Review
[ From left] Tengku Ida Adura, Laurent Therond, Chow Phee Chat, Juan Aranols, Dato’ Adnan Pawanteh, Ng Su Yen and Lam Pui Yuee commemorating the [ From left] Chew Soi Ping, Lam Pui Yuee and Juan Aranols checking out our eye-catching in-store market
successful Nestlé Cares Mangrove Replanting activity at Kuala Selangor Nature Park. displays featuring the NESTLÉ EVERYDAY NUTRIKUAT campaign.
[Left] Othman Chraibi during a visit to the coffee farm in Sik, [From left] YAB Dato’ Seri Amirudin Bin Shari, Menteri Besar Selangor, Juan Aranols & Duli Yang Maha Mulia [From left] Chew Soi Ping, April Wong and [right]
Kedah, under the NESCAFÉ Grown Respectfully Programme. Sultan Selangor, Sultan Sharafuddin Idris Shah Alhaj Ibni Almarhum Sultan Salahuddin Abdul Aziz Shah Alhaj Alessandro Monica reviewing Nestlé’s RTD Chinese New Year 59
viewing Nestlé’s new LIVELY Tea range, at the launch of the PBMS manufacturing facility. offerings during a market visit in Ipoh.
Annual Review
Tengku Ida Adura giving a welcome speech at Pantai Bagan Lalang, Sepang, during our annual
Sales virtual convention to share commercial plans with Sales teams in creative and engaging ways. nationwide beach clean-up.
Corporate Information
BOARD OF DIRECTORS
YAM Tan Sri Dato’ Seri Syed Anwar Jamalullail Craig Connolly
Datin Sri Azlin Arshad
Non-Independent Non-Executive Director Executive Director
Chairman of the Board of Directors Chief Financial Officer
Mr. Chin Kwai Fatt YM Tunku Alina Raja Muhd. Alias Dato’ Mohd. Rafik Shah Mohamad
Independent Non-Executive Director Independent Non-Executive Director Independent Non-Executive Director
(appointed on 29 April 2021) (appointed on 21 June 2021) (retired on 28 April 2021)
Juan Aranols Dato’ Dr. Nirmala Menon

Dato’ Hamidah Naziadin
Executive Director Independent Non-Executive Director
Chief Executive Officer (retired on 28 April 2021)
BOARD COMMITTEES COMPANY SECRETARY

60
Audit Committee Tengku Ida Adura Tengku Ismail

Chairman (MACS 01686)
Mr. Chin Kwai Fatt (appointed on 29 April 2021) (SSM PC No.: 201908001581)
Dato’ Mohd. Rafik Shah Mohamad (retired on 28 April 2021)
Tel : +603 7965 6000
Members Fax : +603 7962 7213
YAM Tan Sri Dato’ Seri Syed Anwar Jamalullail E-mail : [email protected]
Datin Sri Azlin Arshad
Governance, Nomination and Compensation Committee

INVESTOR RELATIONS
Chairman
YAM Tan Sri Dato’ Seri Syed Anwar Jamalullail
Craig Connolly
Chief Financial Officer
Members
Dato’ Hamidah Naziadin
Tel : +603 7965 6000
YM Tunku Alina Raja Muhd. Alias (appointed on 21 June 2021)
E-mail : [email protected]
Annual Review
Dato’ Mohd. Rafik Shah Mohamad (retired on 28 April 2021)

Dato’ Dr. Nirmala Menon (retired on 28 April 2021)
REGISTERED OFFICE SHARE REGISTRAR
Nestlé (Malaysia) Berhad Tricor Investor & Issuing House Services Sdn. Bhd.
Registration No.: 198301015532 (110925-W) Registration No.: 197101000970 (11324-H)
Level 22, 1 Powerhouse Unit 32-01, Level 32, Tower A

No. 1, Persiaran Bandar Utama Vertical Business Suite, Avenue 3
Bandar Utama Bangsar South, No. 8, Jalan Kerinchi
47800 Petaling Jaya 59200 Kuala Lumpur
Selangor Darul Ehsan
Tel : +603 2783 9299
Tel : +603 7965 6000 Fax : +603 2783 9222
Fax : +603 7965 6767 E-mail : [email protected]
COMPANY WEBSITE
www.nestle.com.my
AUDITORS PRINCIPAL BANKERS STOCK EXCHANGE LISTING

61
Ernst & Young PLT HSBC Bank Malaysia Berhad Main Market
(Firm No. LLP0022760-LCA & AF 0039) Registration No.: 198401015221 (127776-V) Bursa Malaysia Securities Berhad
Chartered Accountants Registration No.: 200301033577 (635998-W)
Malayan Banking Berhad
Level 23A, Menara Milenium Registration No.: 196001000142 (3813-K) Stock Code : 4707
Jalan Damanlela, Pusat Bandar Damansara Stock Name : NESTLÉ
50490 Kuala Lumpur
Tel : +603 7495 8000

Fax : +603 2095 5332
Annual Review
Corporate Directory
HEAD OFFICE FACTORIES
Nestlé (Malaysia) Berhad Shah Alam Complex Chembong

Registration No.: 198301015532 (110925-W) Nestlé Manufacturing (Malaysia) Sdn. Bhd. Nestlé Manufacturing (Malaysia) Sdn. Bhd.
Registration No.: 199401029400 (315081-K) Registration No.: 199401029400 (315081-K)
Level 22, 1 Powerhouse
No. 1, Persiaran Bandar Utama PT 927, Jalan Playar 15/1 Lot 691, Jalan Perusahaan Utama
Bandar Utama Seksyen 15, 40200 Shah Alam Kawasan Perindustrian Chembong
47800 Petaling Jaya Selangor Darul Ehsan 71300 Rembau
Selangor Darul Ehsan Negeri Sembilan Darul Khusus
Tel : +603 5522 5600
Fax : +603 5522 5999 Tel : +606 686 3900
Tel : +603 7965 6000
Fax : +606 686 4080
Fax : +603 7965 6767
Batu Tiga
Nestlé Manufacturing (Malaysia) Sdn. Bhd. Chembong (Ice Cream)
Consumer Services
Registration No.: 199401029400 (315081-K) Nestlé Manufacturing (Malaysia) Sdn. Bhd.
1 800 88 3433
Registration No.: 199401029400 (315081-K)
PT 927, Jalan Playar 15/1
Website
Seksyen 15, 40200 Shah Alam Lot 3857 – 3862 Jalan Perusahaan 4
www.nestle.com.my
Selangor Darul Ehsan Kawasan Perindustrian Chembong
62
Facebook 71300 Rembau
www.facebook.com/Nestle.Malaysia Tel : +603 5522 5600 Negeri Sembilan Darul Khusus
Fax : +603 5510 6263
Instagram Tel : +606 686 3900
@nestle.malaysia Sri Muda Fax : +606 686 4095
Nestlé Manufacturing (Malaysia) Sdn. Bhd.
Registration No.: 199401029400 (315081-K) Kuching
DISTRIBUTION CENTRE Nestlé Manufacturing (Malaysia) Sdn. Bhd.
PT 927, Jalan Playar 15/1 Registration No.: 199401029400 (315081-K)
Nestlé Distribution Centre Seksyen 15, 40200 Shah Alam
Nestlé Products Sdn. Bhd. Selangor Darul Ehsan Lot 844, Block 7 Muara Tebas Land District
Registration No.: 197901000966 (45229-H) Estet Perindustrian Demak Laut
Tel : +603 5520 6400 93450 Kuching Sarawak
Lot 7316 (PT3609) Fax : +603 5520 6500
Jalan Klang-Banting Tel : +6082 472 800
Mukim Telok Panglima Garang Fax : +6082 472 999
42500 Telok Panglima Garang
Annual Review
Tel : +603 3123 3000

Fax : +603 3123 3001
This page has been intentionally left blank.
This page has been intentionally left blank.
NESTLÉ (MALAYSIA) BERHAD
Registration No.: 198301015532 (110925-W)
Level 22, 1 Powerhouse

No.1, Persiaran Bandar Utama, Bandar Utama
47800 Petaling Jaya
Malaysia
Tel (+603) 7965 6000

Fax (+603) 7965 6767
Cover
Nestlé Consumer Services Free Phone Printed on FSC ® Certified
1-800-88-3433 Mix Credit 300gsm
Snow White
Facebook
www.facebook.com/Nestle.Malaysia Text
Printed on FSC ® Certified
Website Mix Credit 120gsm
www.nestle.com.my AA Print

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ANNUAL REVIEW 2021

Good Food Good Life, everyday everywhere

Nestlé (Malaysia) Berhad

Our Annual Reporting Suite 2

About This Report 3

Our Business 4-9

Creating Shared Value 10

Message from Our Chairman and Our CEO 12

Management Discussion and Analysis 15

Our Product Portfolio 20

Our Business Review 22

In line with our sustainability agenda, for this year’s Annual

Provides a detailed overview of our business strategy and REPORTING FRAMEWORK

Nestlé in Society Report 2021 REPORTING SCOPE AND BOUNDARIES

Nestlé (Malaysia) Berhad

CGFR Corporate Governance & Financial Report 2021

CHIEF EXECUTIVE OFFICER

Executive Director, Corporate Affairs Business Executive Officer, Ice Cream

Executive Director, Legal & Secretarial Business Executive Officer, Confectionery

Executive Director, Communications

MILO HEAD OFFICE LOCATED IN

national distribution centre

IN 2021, WE SPENT ALL OUR

RM11.6 million on community INCLUDING MALAYSIAN FAVOURITE,

as at 31 December 2021 LOCALLY-MADE HOUSEHOLD

1 Putra Brand Award 2021

2 The Edge Billion Ringgit Club (BRC) 2021

3 Randstad Employer Brand Awards 2021

4 Graduates’ Choice Award (GCA) 2021

2 5 GRADUAN Brand Awards 2021

6 Zone AOA ExtrAOArdinary Sustainability Awards

7 National Annual Corporate Reporting Awards (NACRA) 2021

8 LazMall Brand of the Year

3 9 Malaysia’s 100 Leading Graduates Employers Award (M100) 2021

BUSINESS VALUE CREATION MODEL

OUR OUR OUR

1 2 3 4 F Financial Capital (as at 31 December 2021)

INDIVIDUALS & FAMILIES

UNLOCKING THE POWER OF FOOD TO

products for consumers.

M Sales & Marketing Capital

S Social & Relationship Capital

Delivering resilient business performance in a challenging environment. Shareholders & Investors

Transportation & Uplift rural livelihoods by

FOR INDIVIDUALS AND FAMILIES

Guiding individuals and families toward happier and

FOR OUR COMMUNITIES

Develop thriving and resilient communities and supply

FOR THE PLANET

Upholding sustainability in our business and reducing

UNLOCKING THE POWER OF FOOD TO ENHANCE

OUR 2030 GLOBAL AMBITIONS

To help improve 30 million livelihoods in

OUR IMPACT AREAS

OUR CSV PILLARS

THROUGH OUR AMBITIONS, WE ARE SUPPORTING THE SDGs

The year 2021 continued

YAM Tan Sri Dato’ Seri Syed Anwar

EXPANDING OUR PRESENCE

CORPORATE GOVERNANCE UPLIFTING COMMUNITIES