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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.

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