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However, with cheaper alternatives available, the citizens turned to illegal cigarettes with price tags of RM3 – RM8 (US$0.71 – US$1.89). Customs director-general Datuk T. Subromaniam appeared to be in denial, as he commented , “It (tax increase on cigarettes) is merely a measure to reduce the number of smokers in Malaysia and increase tax revenue. We cannot solely blame taxation for the rise in illicit cigarettes.” On a larger scale, Malaysia’s tobacco industry has taken a hit. In the first half of 2017, British American Tobacco – the country’s biggest cigarette manufacturer – reported a drop in 22.1% of revenue when compared to the same period in 2016. The decreasing revenue trend continues with further contraction of the legal cigarette market. According to Framework Convention on Tobacco Control (FCTC), excise duty should constitute at least 70% of the final retail price. The government had been quick to implement excise tax that constitutes roughly half of retail price today. However, the same speed did not apply to FCTC’s guidance on tobacco control programmes. The revenue collected from cigarette sales was used to finance local smoking cessation programmes like  mQuit . From the year 2016 to 2019, the Health Ministry targets to help 390,000 smokers quit the habit.

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OPP lay charges in Toronto-area tobacco bust Oct 3, 2017 - Northumberland News Click one of the buttons below or search. Here you can find useful examples and description about searching the news archive. Read it carefully to get the best results. If you need more help, please contact us. Searching is case insensitive. Words music and mUSIC return the same results. Some of the common words like the, is, etc. are not included in your search. The symbol "|" stands for OR and symbol "&" stands for AND.

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    Meanwhile, just $2.5 billion unrated or speculative grade municipal bonds has been issued through the third quarter, a 50 percent decline from the same period last year, according to data compiled by Bloomberg. “You just buy anything under the sun because you have to utilize your cash," said Mikhail Foux, head of municipal strategy in New York at Look no further than the American Dream, a mega mall and entertainment complex being built in New Jersey after more than a decade of delays. In a year full of retail bankruptcies, the deal was postponed so the underwriter, Goldman Sachs Group Inc., could drum up more buyers. Since American Dream’s $1.1 billion bonds were sold in June, prices on the longest-maturity securities have risen to 116 cents on the dollar from 103 cents. It’s “one of the last really exciting and last really cheap deals priced in the high yield area with size and liquidity in the last couple of months," said John Miller, Nuveen’s co-head of fixed income. Nuveen’s $15.6 billion high yield fund owned $370 million American Dream bonds as of August 31. The fund returned 9.3 percent through the third quarter. Miller invested about 7.5 percent of the fund’s assets in tobacco debt. Nuveen also reaped a windfall from its bet on its hometown school district. Chicago school bonds rallied after Illinois Governor Bruce Rauner signed a measure that boosts funding to the district by an additional $1.1 billion over the next five years. Chicago Board of Education bonds with a 7 percent coupon maturing in 2044 have returned 27 percent this year, Miller said.

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