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BAT Can Maintain Performance Despite Duty Hike, Says MIMB 

Jump to full article: Malaysian National News Agency (BERNAMA) (my), 2009-10-05

Intro:

British American Tobacco (Malaysia) Bhd (BAT) will be able to uphold its performance despite the unexpected increase in excise duty by a sen on each cigarette stick, according to MIMB Investment Bank.

BAT will be supported by its generous dividend payout, the bank said in a research note on Monday.

"We view the increase as a positive surprise as it is the least quantum of increase in comparison to historical trend," MIMB said, adding that the move might slow down the sales volume decline in the industry.

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