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CGS-CIMB also pointed out that the legalisation of vaporisers in Malaysia, by way of taxing the products, will benefit British American Tobacco (Malaysia) Bhd (BAT) as this allows the company to expand its revenue base.
"We are excited about the imposition of excise duty on vaporisers in the Budget.
"With this news, BAT would finally be able to enter the burgeoning vape market, whose popularity has grown from virtually zero market share in 2017 to 9% in 4Q19. This, coupled with tighter enforc