Published: Thursday April 25, 2013 MYT 12:59:00 PM
Illicit trade still high, says JTI
KUALA LUMPUR: JT International Bhd says the incidences of illicit trade at 34.5% of total market last year is "still high" despite the year-on- year drop from 36.1% in 2011, said its chief financial officer Thean Nam Hooi.
"This figure is still very high. And we are the second highest illicit trade market in the world (for cigarettes) according to a Goldman Sachs report," Thean said.
He added that any further increase in any form of taxes on cigarettes "will have a negative impact" on the industry.