KUALA LUMPUR (Jan 28): British American Tobacco (Malaysia) Bhd's (BAT) share price fell as much as 28 sen or 2.17% to RM12.62 in morning trade on Friday (Jan 28) after Health Minister Khairy Jamaluddin announced a day ago Malaysia’s legislative plans to not sell smoking products to anyone born after 2005.
"Announcing Malaysia’s legislative plans for a tobacco generation endgame to not sell smoking products to anyone born after 2005,” Khairy said via Twitter while attending the World Health Organization (WHO) executive board's 150th session this Monday to Saturday.
At 10.31am on Friday, BAT shares had pared losses at RM12.80 each, with 87,200 units traded.
At RM12.80, the company had a market value of about RM3.65 billion based on its 285.53 million issued shares.
Over the past one year, the counter has fallen from its closing share price of RM13.10 on Jan 29, 2021.
During the WHO executive board session, Khairy noted that Malaysia would like to highlight the negative impact of tobacco on non-communicable diseases.
He said the country hopes to pass in 2022 a legislation which will bring about a generation endgame to smoking by making it illegal the sale of tobacco and other smoking products to anyone born after 2005.
“Malaysia feels this will have a significant impact in preventing and controlling non-communicable diseases,” he added.