Business News

Published: Thursday April 25, 2013 MYT 8:59:00 AM
Updated: Thursday August 15, 2013 MYT 9:00:42 AM

Illicit trade still high, says JTI

KUALA LUMPUR: JT International Bhd says the incidences of illicit trade at 34.5% of total market last year is "still high" despite the year-on- year drop from 36.1% in 2011, said its chief financial officer Thean Nam Hooi.

"This figure is still very high. And we are the second highest illicit trade market in the world (for cigarettes) according to a Goldman Sachs report," Thean said.

He added that any further increase in any form of taxes on cigarettes "will have a negative impact" on the industry.

Tags / Keywords: Illicit trade, JTI

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