CIMB Research maintains Reduce on BAT

KUALA LUMPUR: CIMB Equities Research has reduced its earnings forecast for British American Tobacco (M) Bhd (BAT) as it lowers the earnings outlook and sales volume following the hike in selling prices with the implementation of the Goods and Services Tax (GST).

BAT will increase its cigarette selling prices by 50 sen a pack to RM14 a pack for premium cigarettes and RM12.50 a pack for VFM sticks due to the implementation of GST.