British American Tobacco Malaysia Bhd
BAT
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
British American Tobacco Malaysia Bhd is a tobacco company principally engaged in the manufacture, distribution, and sale of cigarettes and other tobacco products in Malaysia. The company generates the vast majority of its revenue from its combustible cigarette segment.
The company has actively opposed public health measures in its market. In 2022, it argued that Malaysia's proposed generational smoking ban would fuel the illicit tobacco market and negatively impact the economy. A 2023 industry interference index report noted that, despite acknowledging the harms of smoking, the company stated its focus was to "drive share growth in combustibles [cigarettes] in order to drive revenue." This indicates a business strategy centered on maintaining and growing sales of its primary harmful product.
Research Sources
1 organization
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.