Philip Morris (Malaysia) is to invest RM70 million at its Seremban tobacco processing plant to double its capacity, according to a Bernama News story relayed by the TMA and quoting the company’s managing director, Tarkan Demirbas.
But it is to discontinue cigarette manufacturing inMalaysiaprimarily due to increasing costs and the country’s high levels of smuggling.
Demirbas said the company would import all its cigarettes for sale on the domestic market as of the second quarter of next year, subject to its having obtained all of the necessary regulatory approvals.
About 220 full-time workers of the company will lose their jobs because of the restructuring exercise, he added.
Category: Breaking News