Airscream Plans to Invest 100 Million Ringgit in Malaysia

Business by 2FIRSTS.ai

Apr.07.2024

Airscream Plans to Invest 100 Million Ringgit in Malaysia

Airscream, a UK e-cigarette company, to invest 100 million Malaysian Ringgit in Malaysia over the next five years.

According to a recent report from MSN, the UK-based e-cigarette company Airscream is planning to invest 100 million Malaysian Ringgit (21.07 million USD) in Malaysia over the next five years. The e-cigarette market in Malaysia is booming, with a market value of over 3 billion Malaysian Ringgit (630 million USD) and a workforce of over 30,000 employees. The company sees Malaysia as a key region for its global business.

The company's CEO, Sam Ong, stated that the maturation of Malaysia's e-cigarette market is bringing in more investments and better job opportunities. He is excited about Malaysia's newly introduced Public Health Tobacco Control Act, which regulates e-cigarettes and smoking devices, introducing new rules such as mandatory registration of all smoking products, prohibiting the sale and promotion of smokeless products, addressing previously unregulated health emergencies, and more. He mentioned that this legislation aligns Malaysia with international standards set by countries like the UK, Australia, Thailand, and Singapore.

Currently, the company has established a team in Shanghai with 40 local employees and 100 global employees. They aim to closely collaborate with local officials, industry regulators, manufacturers, distributors, and interest groups to jointly improve the e-cigarette industry.

References:

[1] Airscream Lights Up Malaysia’s Vape Market With RM100 Million Investment

Also Read:

[1] Malaysian Trucks Attempt to Smuggle E-Cigarettes into Singapore

[2] Analysis of E-cigarette Export Data to Malaysia in February 2024

[3] Discussion on Proposed Ban of E-Cigarettes in Malaysia Meeting

[4] Malaysian Health Ministry Deputy Minister Urges Parliamentary E-Cigarette Ban

[5] Increasing Trend of E-Cigarette Usage in Malaysia, Especially among Women

#Legislation #Asia #Open system e-cigarettes #Malaysia

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