KUALA LUMPUR (June 22): British American Tobacco (Malaysia) Bhd (BAT) said its wholly-owned subsidiary Commercial Marketers and Distributors Sdn Bhd (CMD) had decided to withdraw the judicial review filed against the Ministry of Health (MoH) in the Kuala Lumpur High Court following a mutual settlement with the ministry.
In a filing with the bourse, it said there is no material financial impact on the company and its subsidiaries arising from the withdrawal of the judicial review application.
BAT added that there is also no liability imposed on the group arising from the withdrawal of the application.
On Nov 14, 2019, the group said the MoH had revoked its approval granted on July 12, 2018 for CMB to sell Dunhill HTL-Cigarillo (Cigarillo) as a non-cigarette tobacco product.
In a letter dated Oct 21, 2019 sent to CMD, the ministry said that it found, upon analysis of Cigarillo, that the product falls within the definition of a cigarette under the Control of Tobacco Product Regulations 2004, and that it will be required to comply with the restrictions applicable to cigarettes under the regulations.
That led to BAT filing the application for a judicial review in November 2019.
At the noon break today, BAT was four sen or 0.3% higher at RM14.46, giving it a market capitalisation of RM4.13 billion.
