Market Comment Begin’g 1 Oct 2012
Dear Investors,
The consumer friendly budget released Friday should support our consumer related shares in the KLSE. Particularly Guiness Anchor and JTI as excise taxes on cigarettes/ alcohol were not raised as many expected.
Upstream oil and gas companies will also benefit as a 100% income tax waver for 10 years was announced for oil industry businessmen.
The 1 % reduction on income tax for all brackets will boost consumer spending and stimulate business.
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