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17
2024
-
05
UK e-cigarette company invests $153 million to enter Malaysian market!
Recently the company said in a statement that it will move its global headquarters to Malaysia and invest 100 million ringgit (about Rs. 153 million) over the next five years in its operations there.
Author:
Airscream is a UK-based e-cigarette company founded in 2018 as a manufacturer and retailer of AirsPop e-cigarette products. The company recently said in a statement that it will be moving its global headquarters to Malaysia and investing 100 million ringgit (about Rs. 153 million) over the next five years in its operations in the country.
The company has now set up its administration, sales and marketing departments as well as a warehouse in Shah Alam, the capital of the Malaysian state of Selangor, and already employs nearly 40 people there.
Airscream founder and CEO Sam Ong said the company made the decision due to Malaysia's strong market performance and well-established ecosystem in the e-cigarette industry, which is expected to grow further, potentially driving more direct investment from foreign brands into the country and contributing to the creation of high-income jobs.
According to the Malaysian Electronic Cigarette Chamber of Commerce (MECC), the e-cigarette industry in Malaysia has grown to be worth more than RM3 billion over the past decade, providing employment opportunities for more than 30,000 Malaysians.
Sam Ong added, "We are also encouraged by the passage of the Public Health Control of Smoking Products Bill 2023, which puts Malaysia in the same league as the rest of the world in having separate legislation for tobacco and e-cigarettes."
This year, ANTY EXPO 2024 (Asia's International New Tobacco Exhibition) will be held on September 6-8 at the Malaysia International Convention & Exhibition Center. Different from traditional e-cigarette exhibitions, ANTY EXPO is an event that brings together e-cigarettes, HNB, oral cigarettes, open, e-liquids, herbal series, CBD equipment branding parties and manufacturing factories, and also the industry's upstream supply chain enterprises and service companies will gather to create a professional new tobacco whole industry chain exhibition.
At the same time, this exhibition will attract global agents, distributors and other channel businessmen to come to docking, grasp the latest product trends, explore cooperation opportunities in the field of new tobacco, and create a China-Malaysia-Southeast Asia-global production and marketing integration platform!
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