KUALA LUMPUR, Nov 15 -- Shares of British American Tobacco (Malaysia) Bhd were slightly lower, a day after the company filed a judicial review against the Health Ministry.
At 10.23 am, BAT slipped two sen to RM17.16 with 78,600 shares transacted.
On Thursday, it announced that its wholly-owned unit, Commercial Marketers and Distributors Sdn Bhd, has filed an application for judicial review on the decisions made recently by the ministry to recategorise its product DUNHILL HTL-Cigarillo as a cigarette and to revoke its approval for sale as a non-cigarette tobacco product.
“The unexpected ‘u-turn’ decision by the Deputy Director General (Public Health) of the Health Ministry to recategorise and revoke the approval of DUNHILL HTL-Cigarillo without prior notice claiming that it is a cigarette highlights the challenging and unreasonable parameters imposed on a legal tobacco company to operate in this country,” managing director Erik Stoel said in a statement yesterday.
He noted that the product was approved as a non-cigarette not only by MoH for sale a year ago but also by the Royal Malaysian Customs.
Revoking it unilaterally without any chance of consultation is against any reasonable expectation of legal business, let alone a public listed company like us, he said.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
