Cigarette manufacturer badly hit by illicit market
Ranjit Singh | 08 Nov 2019 00:30
The biggest listed tobacco company in the country, British American Tobacco Bhd (BAT), suffered a huge decline in its 2019 third quarter (3Q19) profits and has announced that it will be reducing headcount.

JT International Bhd ( JTI), the second largest tobacco company which was delisted in 2014, was reported as saying in September that it may cut 40% of its staff over the next two years.

What has caused these companies to be affected adversely? The illicit cigarette market which constitutes 65% of the total cigarette market is the main cause.

Download and read more in the latest issue of Focus Malaysia here:
Unlock your business potential through listing

An excellent opportunity for businesses with global ambitions to gain valuable insights.

Airbnb empowers travel beyond big cities in M'sia

Airbnb hosts in Sabah and Sarawak earned approximately RM1.4m in less than a week.