Jump to full article: Business Times (my), 2009-09-11
Intro: British American Tobacco (Malaysia) Bhd (BAT) (4162) wants the government to impose stricter penalties and slap moderate excise duties to curb illegal cigarette trade.
According to the Royal Malaysian Customs, illicit cigarette trade reached a record 36.7 per cent of the country's total cigarette industry.
"We plead to the government for more concrete measures to address the explosive growth of illicit cigarettes," BAT managing director Jack Bowles said in a statement.
Over 80 per cent of illegal cigarettes are found in Peninsular Malaysia. Less than a year ago, one out of four cigarette packs in Malaysia were illegal contrabands but now the situation has worsened into more than one in every three packs.
BAT managing director Jack Bowles said legal manufacturers have lost a significant 11 per cent in legal volumes during the first half of this year to illegal operators.
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