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KLSE: BAT       BRITISH AMERICAN TOBACCO (M)
Last Price Avg Target Price   Upside/Downside Price Call
42.72 45.14     +2.42 (5.66%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
18/09/2017 43.92 43.50 -0.42 (0.96%) HOLD Affin Hwang Capital Price Target News
21/07/2017 44.10 47.00 +2.90 (6.58%) BUY KENANGA Price Target News
18/07/2017 43.70 40.55 -3.15 (7.21%) SELL HLG Price Target News
21/04/2017 46.98 40.00 -6.98 (14.86%) SELL UOBKayHian Price Target News
21/04/2017 46.98 52.08 +5.10 (10.86%) HOLD TA Price Target News
21/04/2017 46.98 48.60 +1.62 (3.45%) HOLD MIDF Price Target News
21/04/2017 46.98 47.10 +0.12 (0.26%) HOLD MAYBANK Price Target News
21/04/2017 46.98 42.30 -4.68 (9.96%) SELL KENANGA Price Target News
21/04/2017 46.98 40.55 -6.43 (13.69%) SELL HLG Price Target News


Price Target Research Article/News (past 6 months)
18/09/2017  Affin Hwang Capital British American Tobacco (HOLD, Maintain) - Smaller Packs, Greater Earnings?
21/07/2017  KENANGA British American Tobacco (M) - Slight Legal Market Recovery
18/07/2017  HLG TOBACCO - Plain Packaging Is Here To Stay
21/04/2017  UOBKayHian British American Tobacco: 1Q17: No Light At The End Of The Tunnel Yet
21/04/2017  TA BRITISH AMERICAN TOBACCO - Still Suffering from 2015 Price Hike
21/04/2017  MIDF BAT - Lower Volume Remains A Drag To Earnings
21/04/2017  MAYBANK British American Tobacco - Below Expectations
21/04/2017  KENANGA British American Tobacco (M) - Illicit Trade Abound
21/04/2017  HLG British American Tobacco - 1Q17- Weak Volumes Persist



  2 people like this.
 
limch BAT Malaysia raised to outperform at Credit Suisse
http://www.theedgemarkets.com/article/bat-malaysia-raised-outperform-credit-suisse
22/07/2017 04:10
goldentriangle Dow Jones closed at 21,580.07 (-31.71)(-0.15%)
23/07/2017 09:40
118888 RM 50 in Aug-Sep?
23/07/2017 10:18
curious2 DY 4.89% not yummy? Which bank offer 5% FD?
https://klse.i3investor.com/servlets/stk/4162.jsp
24/07/2017 09:24
tyrannie Top gainer today.
24/07/2017 22:47
goldentriangle Dow Jones closed at 21,513.17 -66.90 (-0.31%)
25/07/2017 05:50
goldentriangle Will be top loser today
25/07/2017 05:51
Edonald Sure Top loser today.
25/07/2017 07:02
leecuteguy how high can go within 2 months?????
25/07/2017 14:00
leecuteguy @limch thx................. I dun need to try 44.1-44.2 because today 26 July @ 12 noon the buyer price already q 44.18 and seller @ 44.20
26/07/2017 12:36
curious2 DY 4.91%. Which bank FD 5%?

T4Q DY | Payout %: 4.91% | 80.13%
https://klse.i3investor.com/servlets/stk/4162.jsp
26/07/2017 15:01
leecuteguy NOT SO EASY........
27/07/2017 11:56
goldentriangle Nasdaq was tumbling and
closed at 6,382.19 -40.56 points
28/07/2017 05:06
pedestrian_ Malay cannot smoke like they cannot gamble or drink beer? Malay in M'sia is more than Chinese and Indians combined.
28/07/2017 10:19
goldentriangle North Korea says new missile test proves it has capability to nuke any part of US
They launched second flight test of an intercontinental ballistic missile on Saturday.
http://www.oregonlive.com/today/index.ssf/2017/07/north_korea_says_new_missile_t.html
30/07/2017 10:47
goldentriangle US slams North Korea missile test as Kim claims 'whole US mainland' in reach
http://edition.cnn.com/2017/07/29/asia/north-korea-intercontinental-ballistic-missile-test/index.html
30/07/2017 10:57
goldentriangle Nasdaq collapsed and closed
at 6,348.12 -26.55 points , -0.42 %
01/08/2017 06:56
limch 43 sen dividend assured unlike Lotte.
01/08/2017 10:06
limch 43 sen divX4=RM 1.72. If RM 50 DY=3.44% better than FD?
01/08/2017 10:09
limch EPS(51.6 sen)>DPS still have rooms for higher dividend in 2nd half 2017.
01/08/2017 10:11
anonboy Post removed. Why?
01/08/2017 11:32
leecuteguy If Bat goes up also, has small effect on CI because the % weight of BAT in CI is small...........Not like Maybank
01/08/2017 12:42
leecuteguy i hold bat too............i just sound out my opinion
01/08/2017 15:02
Investingold Post removed. Why?
02/08/2017 13:10
leecuteguy why today closing price the lowest.....tomorrow ex for dividend
09/08/2017 17:32
goldentriangle Dow jones & Nasdaq both in red !
Dow Jones closed at 22,048.70 (-36.64)
Nasdaq closed at 6,352.33 (-18.13)
10/08/2017 07:01
goldentriangle All asian stock markets big plunged !
Hang Seng=> 27,276.47 (-480.62)(-1.73%)
Shanghai=> 3,240.69 (-34.88)(-1.06)
Taiwan=> 10,324.48 (-145.90)(-1.38%)
Korea => 2,342.00 (-26.39)(-1.11%)
10/08/2017 11:57
goldentriangle Nasdaq Collapsed (Tech stocks bubble burst?)
Nasdaq closed at 6,216.87 (-135.46) (-2.13%)
11/08/2017 06:07
goldentriangle Dow Jones also Tumbling Down (Economy Crisis Come?)
Dow Jones closed at 21,844.01 (-204.69) (-0.93%)
11/08/2017 06:07
rlch Maybank TP RM 47 why 45 so difficult?
07/09/2017 09:37
rlch TA TP RM 52.08 by year-end?

BRITISH AMERICAN TOBACCO - Still Suffering from 2015 Price Hike
Date: 21/04/2017

Source : TA
Stock : BAT Price Target : 52.08 | Price Call : HOLD
Last Price : 44.60 | Upside/Downside : +7.48 (16.77%)

Back

Review
BAT’s 1QFY17 earnings came in below ours and consensus expectations at 16% of full-year forecasts. Excluding all exceptional items i.e. FX losses, derivatives gains and restructuring costs (RM2.1mn), BAT’s adjusted net profit declined by 23.2% QoQ to RM120.9mn. This was due to decline in Domestic and Duty Free volume, on the back of growth in illegal cigarettes post GST implementation in Apr-15 and excise duty hike in Nov-15 whereby cigarettes prices increased to an average of RM17.50/packet from RM13.00/packet in 2014.
YoY, BAT’s revenue dropped due to 24.5% lower domestic sale and export volume. Meanwhile, operating expenses reduced by 18.1% YoY due to i) lower recharges from related entities, ii) overhead savings from the cessation of manufacturing activity, and iii) timing of spends. These have filtered down to the bottomline with core profit slipped by 31.2%.
1QFY17 revenue decreased by 8.3% QoQ to RM770.7mn due to decline in sale volume of 20%. The adjusted net profit declined by significant 23.2% due to higher taxation.
In terms of market share, the group’s market share drop from 57.1% in Dec- 16 to 53.5%. In the premium segment, Dunhill’s market share declined by 1.3p.p to 37.3% year to date. Meanwhile, Aspirational premium brands recorded a growth of 12.1% mainly due to the performance of Peter Stuyvesant’s with a 7.7% share of market gaining 0.7p.p when compared to previous quarter.
https://klse.i3investor.com/servlets/ptres/40126.jsp
08/09/2017 07:19
888888888 48 pls.
08/09/2017 09:27
Shareholderz EPF has been disposing
09/09/2017 12:18
curious2 T4Q DY | Payout %: 4.89% | 80.13%
http://klse.i3investor.com/servlets/stk/4162.jsp
09/09/2017 12:28
curious2 DY 4.89% which bank can offer better FD?
09/09/2017 12:28
curious2 Foreign funds with low interest rate in their home country(US, Japan, etc) can buy.

Shareholderz EPF has been disposing
09/09/2017 12:18
09/09/2017 12:29
rlch Maybank, Kenanga TP RM 47 if cannot come at least RM 45 must come to gain respect. If not change IB to Affin?
12/09/2017 11:56
Good_buy CI moving up 1800 soon? BAT not CI counter? Why YTD BAT down?
12/09/2017 15:42
Good_buy 20-Jul-2017 30-Jun-2017 774,090 193,976 147,310 144,078 19.03% 35.54% 51.60 43.00 1.4200 24.04% 208.73%
https://klse.i3investor.com/servlets/stk/fin/4162.jsp
12/09/2017 15:44
rlch BAT is major shareholder not EPF. If BAT sell could mean something bad. I still see DY better than FD.
14/09/2017 11:11
rlch YTD CI up. BAT not CI counter?
14/09/2017 11:25
Taurus_ Tobacco is bad but industry creates jobs
http://www.thestar.com.my/opinion/letters/2017/09/14/tobacco-is-bad-but-industry-creates-jobs/
14/09/2017 21:15
goldentriangle North Korea’s Threat Pushes Japan to Reassess Its Might and Rights

https://www.nytimes.com/2017/09/15/world/asia/japan-north-korea-missile-defense.html?mcubz=3
16/09/2017 09:31
limch Exclusive: 'Kiddie packs will help fight illicit cigarette trade'

By KALBANA PERIMBANAYAGAM and THARANYA ARUMUGAM - September 23, 2017 @ 9:37am
ALLOWING the sale of smaller packs of cigarettes makes sense for a number of reasons, tobacco companies argue.

The major reason, of course, is financial, but it is not just for the benefit of these companies, but others, such as retailers and the government.

The reason for this is the staggering numbers of illicit cigarettes available in the market, which go for anywhere between RM3 and RM5 per pack of 20 sticks, compared with between RM12 and RM17 for legal ones.

Citing government-culled statistics, they say an average of 60 per cent of cigarettes in the Malaysian market are illicit, meaning that the government loses out on 60 per cent of the revenue in the form of excise duties, and this amounts to billions of ringgit.

British American Tobacco (Malaysia) Bhd (BAT Malaysia) managing director Erik Stoel says the biggest challenge the industry faced is competing against illegal cigarette trade in Malaysia.

“The trade in illegal cigarettes in Malaysia has grown to an extent that it now dominates the market in the east coast states, where retailers are openly selling them on their shelves.

“These smugglers and retailers are not deterred by the punishment and fines they get, if caught, because the profit they make is worth the trouble.”

Stoel says penetration for illicit cigarettes varies.

For instance, he says, in states with more urban areas, the statistics are below the national average of 60 per cent.

But in the east coast, where the earning power is lower, the numbers are much higher.

Kelantan, he says, has a penetration of 83 per cent for illicit cigarettes, while Terengganu shows a 75 per cent market penetration.

“While enforcement is crucial and ongoing, it is a very challenging task to clamp down on the supply of more than 11 billion sticks of illegal cigarettes that is moving around.

“Strong enforcement to curtail supply is important, but this alone will not shift illegal into legal consumption.

“Due to this uncontrollable influx of smuggled cigarettes, the Customs Department has lost a lot to the illegal trade, especially in terms of tax revenue.”

JT International Bhd (JTI Malaysia) managing director Guilherme Silva shares Stoel’s views on the reintroduction of smaller packs, adding that there is the possibility of a reduction in cigarette consumption.

He says when a consumer buys a 20-stick pack, it is likely that he or she will finish the whole pack in a day and not keep it overnight because of freshness issues.

“If they buy smaller 10-stick packs, they might stop at one box a day and get a new box of 10 the next day.”


With the increased cigarette prices, says Silva, more and more smokers are turning to illicit ones, even though they know the risks of smoking such cigarettes are higher due to unregulated amounts of nicotine and tar.

“(If we have smaller packs), there is a possibility that these smokers will buy legal cigarettes with regulated amounts of nicotine and tar.”

Both Stoel and Silva insist that “kiddie packs” will not encourage the young to smoke.

They say excise duties on tobacco products are based on each stick, meaning that the price of a pack of 10 — between RM7 and RM9 — will still be higher than buying a pack of 20 sticks of illicit cigarettes.

Silva says the industry hopes that the government could consider their proposal for the reintroduction of small packs as a pilot project with a three-year duration, before observing its trend and impact.

“Malaysia is among the top three Asean countries in the trade of illicit cigarettes, above the Philippines, Cambodia and even Indonesia.”

He says this may well change with the introduction of “kiddie packs”.

While lauding Customs Department’s enforcement strategies over the last few years, Silva and Stoel say a joint effort between government agencies and the private sector, such as BAT and JTI, will produce better results in the fight against illicit cigarettes.

However, Stoel says, enforcement alone will not carry the day, adding that this is why the tobacco industry believes smaller packs would help the fight against illicit cigarette trade.

On the often-quoted Framework Convention on Tobacco Control (FCTC), which recommends that countries raise excise duties, among other steps, to curb smoking, both Stoel and Silva say one of the reasons illicit cigarette trade has increased so much in Malaysia is the increase in duties.

They claim that the increase in duties has been too drastic and fast, and point out that while they are recommended by FCTC, anti-tobacco lobbyists fail to realise or mention that the convention recommends a gradual increase so as to prevent such a problem as that being faced by Malaysia today.
https://www.nst.com.my/news/nation/2017/09/282946/exclusive-kiddie-packs-will-help-fight-illicit-cigarette-trade
24/09/2017 10:57
curious2 T4Q DY | Payout %: 4.94% | 80.13% DY 4.94% fake?
29/09/2017 16:45
pakatan_harapan2 Pakatan no GST can help BAT QR?
04/10/2017 11:57
curious2 Cigarettes: Kiddie packs stub out illegal sales
https://www.nst.com.my/opinion/letters/2017/10/287943/cigarettes-kiddie-packs-stub-out-illegal-sales#cxrecs_s
06/10/2017 17:22
ABSBOSS nexf year budget no increment in tabacco tax?
08/10/2017 21:34
curious2 Likely no because more people will opt for illegal cigarette defeating collecting more tax purpose.

ABSBOSS nexf year budget no increment in tabacco tax?
08/10/2017 21:34
09/10/2017 04:43
ongmari buy signal ? or wait 40
16/10/2017 10:47


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