KUALA LUMPUR (Nov 28): Shares of British American Tobacco (Malaysia) Bhd (BAT Malaysia) jumped as much as 43 sen or 4.79%, following the tabling of the revised Control of Smoking Products for Public Health 2023 Bill for its first reading in Dewan Rakyat on Tuesday.
BAT Malaysia shares touched an intraday high of RM9.40.
The Generational End Game (GEG) policy has been omitted from the latest Bill. However, the new version of the Bill will have laws prohibiting the sale of smoking substances or substitute tobacco products, including electronic cigarettes or vaping products to a minor or those below 18.
Clause 13 2 (a) of the proposed Bill states that a person found to have committed an offence of selling tobacco products, smoking substances or substitutes to smoking products or providing any services for smoking to a minor shall be fined not more than RM20,000 or imprisoned for not more than a year or both.
However, if the offence is committed for a second time, the person could be fined up to RM30,000, or jailed for a duration not exceeding two years, or both.
“The second reading of the Bill is scheduled for [tomorrow],” Health Minister Dr Zaliha Musafa was reported as saying.
BAT Malaysia pared some gains to end the day at RM9.35, still up 38 sen or 4.24% from Monday's closing price, emerging as the top three gainers on Bursa Malaysia. A total of 839,000 shares changed hands.
However, the stock's share price is down 16.8% year to date. Its market capitalisation stood at RM2.66 billion.