Another hike on cigarette tax. I guess sales for Gudang Garam is going to take a significant hike too!
“This huge tax hike, which is eight times the level of inflation, will no doubt further encourage consumers to down-trade to illegal and exceptionally low-priced cigarettes.”
An analyst at TA Securities said: “Such increases usually happen during the budget presentation. I didn’t expect it to be in-between budgets.”
The Star Online
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