There you go!

Rokok mahal doh, siape mau beli. Too high tax and hence the price too. Who wants to buy? No one. And how do they smoke it? Cheap cigarettes from urban region.

Latest News so far: https://www.thestar.com.my/business/business-news/2020/02/29/the-rm300bil-shadow-economy

For the full year of 2019, BAT Malaysia’s net profit fell 26.96% year-on-year to RM343.81mil, while revenue declined 11.14% to RM2.51bil. This marks the group’s fourth consecutive year of decline in performance.

[Latest 2021 Dividend Yields Stock]

Please see the latest analysis of BAT yield here:

https://malaysiainvestment88.blogspot.com/2021/01/latest-klse-best-dividend-stock-updated.html

The ROE had declined from triple digits to double digits over the past few years. The share price had followed. Why do you think the share price will uptrend?

looks like BAT might have bottomed for the longer term..only up from here

BAT Malaysia: Buying Cash Flows, Not the Narrative

British American Tobacco (Malaysia) Berhad is not your typical growth story. It is a classic case of defend and optimise. The cigarette market is structurally declining, illicit trade remains a persistent thorn, and new categories like vaping are still too small to offset the combustible base.

Yet, despite shrinking volumes, BAT Malaysia continues to generate enviable returns: a 21% ROIC and 47% ROE in 2024. Cash flows remain durable, but only if pricing power, product mix, and cost discipline consistently outrun volume attrition.

This is where the investment case gets interesting. Markets often discount such companies too heavily, focusing on past declines rather than the resilience of the cash engine.

BAT Malaysia’s premium and value-for-money brands still fund dividends and strategic bets, but with revenue flatlining and fixed costs creeping up, efficiency gains are not optional - they are survival.

The valuation math suggests limited margin of safety today, but a disciplined investor might still see opportunity when the price fully reflects structural headwinds. So, is BAT Malaysia a value trap or a cash compounder in disguise? The answer lies not in chasing growth, but in testing the durability of its cash machine.

Read the full article at Defend and Optimise: The BAT Malaysia Investment Case for more insights