Latest news with #BritishAmericanTobacco(M)Bhd
The Star
4 days ago
- Business
- The Star
BAT remains upbeat despite challenging 1Q performance
British American Tobacco (M) Bhd managing director Nedal Salem KUALA LUMPUR: British American Tobacco (M) Bhd remains upbeat on its outlook, backed by a resilient combustibles business and Dunhill's lead in the premium segment. 'We are confident that our financial performance in 2025 will strengthen as the group continues to focus on growing Dunhill's leadership in Malaysia as well as driving quality and sustainable growth in the premium, aspirational premium and value-for-money segments,' managing director Nedal Salem said in a statement. In the first quarter ended March 31 (1Q25), BAT posted a lower net profit of RM23.3mil, or earnings per share of 8.20 against RM29.9mil, or 10.50 sen in the year-ago quarter. Revenue for the quarter fell to RM321.9mil versus RM411.9mil a year ago. The board of directors has declared a first interim ordinary dividend of 7.5 sen per ordinary share, amounting to RM21.5mil, payable on July 3 to shareholders. Salem said BAT's financial performance for 1Q25 reflects the challenging operating landscape in Malaysia, citing the ongoing impact of the tobacco black market and weaker demand following the earlier start of Ramadhan. 'Despite the challenging operating landscape, the group's flagship brand, Dunhill, continued to demonstrate strength, recording a 0.7 percentage point growth in market share compared to the same period last year. This reflects Dunhill's strength as the No. 1 brand in the country with 60 years of presence in Malaysia,' he said, Commenting on the Control of Smoking Products for Public Health Act 2024 and its related regulations (Act 852) that have taken effect with measures to be implemented in phases in 2025, Salem said, 'We continue to view Act 852 as a crucial step in the right direction to regulate the tobacco and vapour industry in Malaysia. While 2025 will be a transitional year given the multiple measures that will take effect throughout the year, we are fully prepared to navigate the phased implementation of Act 852.' He added that while the industry remains affected by the tobacco black market, the group is encouraged by stronger enforcement efforts, particularly by the Royal Malaysian Customs Department, which have helped bring the black market incidence down from 56.4% in January 2024 to 54.8% in January 2025.
The Star
16-05-2025
- Business
- The Star
MSCI removes six stocks following latest review
CIMB Research said the development was negative for the excluded stocks, as it could trigger selling by passive funds that closely tracks the index. PETALING JAYA: The latest MSCI Malaysia Small Cap Index quarterly rebalancing is not expected to have a significant impact to the main index stocks, although smaller capitalised counters could see some rebalancing moving forward. MSCI has announced the removal of six stocks following its latest review. The affected stocks are British American Tobacco (M) Bhd , D&O Green Technologies Bhd , Dayang Enterprise Holdings Bhd , Pentamaster Corp Bhd , Berjaya Sports Toto Bhd , and UWC Bhd . CIMB Research said the development was negative for the excluded stocks, as it could trigger selling by passive funds that closely tracks the index. The MSCI Malaysia Small Cap Index comprises 68 stocks and accounts for about 14% of the stock market. The MSCI Malaysia Index measures the performance of the large and mid cap segments of the Malaysian market. With 30 constituents, the MSCI Malaysia Index covers about 85% of the local equity universe. 'Our analysis of the six stocks removed from the MSCI Malaysia Small Cap Index indicates that they accounted for around 4.4% of the total free float adjusted market capitalisation of the MSCI Malaysia Small Cap Index of US$36bil as at end-April 2025,' the research house pointed out. Since non-strategic foreign shareholdings in the stocks are relatively low, CIMB Research said potential fund outflows could amount to RM146mil. This is based on a worst case scenario playing out that all identified passive holders within the top 30 shareholders fully exit their positions. Meanwhile, it points out that daily foreign fund inflows surged to a record high of RM796.1mil on May 13, a day after the United States and China agreed to lower tariffs on their products for the next 90 days. This marked a de-escalation in the ongoing trade war between the world's two largest economies.
The Star
28-04-2025
- Business
- The Star
BAT to stop selling vape products from 3Q25
PETALING JAYA: British American Tobacco (M) Bhd (BAT) has announced that it will be transitioning out its current range of VUSE products of electronic cigarettes from the Malaysian market in compliance with the Control of Smoking Products for Public Health Act 2024 (Act 852) and its regulations. In a filing with Bursa Malaysia, BAT said in order to comply with the new regulatory requirements for vapour products as set out in Act 852 and its regulations that will take effect on Oct 1, 2025, the company will be transitioning out its current range of VUSE products in the third quarter of 2025. 'The company will undertake commercial assessments of its VUSE products, taking into consideration the new regulations governing such products. The company will continue to focus on delivering combustible value growth.' BAT said it expects only minimal impact on its financial performance for the financial year ending Dec 31, 2025. 'There are no foreseeable significant risks beyond the usual operational risks typically associated with the normal business activities.'
