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Corporate News

Contraband cigarettes smoking out Big Tobacco

Major tobacco firms like BAT getting burned by illegal trade

Business

Breakfast briefing: Wednesday, April 19 (Update)

Breakfast briefing: Wednesday, April 19

Corporate News

BAT has no plan to increase cigarette prices presently

KUALA LUMPUR: Malaysia’s leading tobacco player British American Tobacco (M) Bhd (BAT) has stressed that it has no plan to increase its cigarette prices for now.

Business

NYC sues FedEx for illegally shipping cigarettes to homes

NEW YORK: New York City has sued FedEx Corp, accusing it of illegally delivering millions of contraband cigarettes to people's homes and seeking $52 million in fines and unpaid taxes.

Plantations

P&O in win-win deal

ON Nov 26, the Finance Minister via a letter from Bank Negara approved Pacific and Orient Bhds (PO) proposal to dispose 49% equity interest in Pacific Orient Insurance Co Bhd (POI), a 100%-owned subsidiary, to Sanlam Emerging Markets Propriety Ltd.

Business

Sweeter Cocoaland

WE re-iterate our “buy” recommendation on Cocoaland Holdings Bhd (Cocoaland), with an unchanged fair value of RM3.05/share. Our valuation continues to peg financial year 2013 forecast earnings to a target price to earnings of 15 times, or at a 15% discount to FN Holdings five-year mean of 18 times.

Business

Nothing positive about tobacco farming

EACH year Malaysia spends an average RM20bil to treat tobacco-related illnesses, with an estimated RM4bil channelled for lung cancer, heart and chronic obstructive airway disease treatment.

Business

Economist expects 2013 Budget to be election-oriented

PETALING JAYA: The upcoming Budget 2013 announcement will likely be an election budget with sweeteners such as pay rises for civil servants, said an economist.