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BAT ups cigarette prices by 30 sen
by Cals Mon 29 Jun 2015, 20:49
BAT ups cigarette prices by 30 sen
KUALA LUMPUR: Tobacco firm British American Tobacco (Malaysia) Bhd (BAT) ([You must be registered and logged in to see this image.] Financial Dashboard) will raise its cigarette prices today, to absorb the goods and services tax (GST) after a short-lived rate increase in April.
BAT raised prices in early April by 50 sen for its premium cigarettes, shortly after GST came into effect, but the move was scrapped soon after and tobacco prices returned to pre-GST rates.
But after absorbing the cost for close to three months, BAT in a statement yesterday announced a 30 sen increase for its premium and sub-premium cigarettes.
That means a pack of Dunhill will cost RM13.80 compared with its current price of RM13.50.
“The price revision today (yesterday) is to take into account the GST,” said BAT managing director Stefano Clini in the statement.
In April, BAT briefly raised the price of Dunhill to RM14 a pack.
The previous price increase was made in November last year, when BAT hiked prices by RM1.50 for every cigarette pack, pushing up Dunhill’s price from RM12 a pack to RM13.50. — The Malaysian Insider
This article first appeared in The Edge Financial Daily, on June 29, 2015.
KUALA LUMPUR: Tobacco firm British American Tobacco (Malaysia) Bhd (BAT) ([You must be registered and logged in to see this image.] Financial Dashboard) will raise its cigarette prices today, to absorb the goods and services tax (GST) after a short-lived rate increase in April.
BAT raised prices in early April by 50 sen for its premium cigarettes, shortly after GST came into effect, but the move was scrapped soon after and tobacco prices returned to pre-GST rates.
But after absorbing the cost for close to three months, BAT in a statement yesterday announced a 30 sen increase for its premium and sub-premium cigarettes.
That means a pack of Dunhill will cost RM13.80 compared with its current price of RM13.50.
“The price revision today (yesterday) is to take into account the GST,” said BAT managing director Stefano Clini in the statement.
In April, BAT briefly raised the price of Dunhill to RM14 a pack.
The previous price increase was made in November last year, when BAT hiked prices by RM1.50 for every cigarette pack, pushing up Dunhill’s price from RM12 a pack to RM13.50. — The Malaysian Insider
This article first appeared in The Edge Financial Daily, on June 29, 2015.
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