JTI to raise cigarette prices post-SST

Scomi Group Bhd surprised investors when it proposed to revise its current issued share capital reduction from RM224.96mil to RM3mil from the earlier RM40mil.

KUALA LUMPUR: JT International Bhd (JTI), the maker of Mevius and Winston cigarette brands, says it will increase the selling prices of its products due to the higher sales tax effective Sept 1.

“The introduction of sales tax at 10% for tobacco products in Malaysia translates to a price increase for all our cigarette brands, taking into account the incremental rate differential from the previous goods and services tax (GST) rates levied on cigarettes,” managing director Cormac O’Rourke said in a statement.