Malaysia’s Halal-certified cosmetics co SimplySiti eyes listing

Malaysian National News Agency, Bernama, reported that cosmetics company SimplySiti is eyeing a listing on the Malaysian stock exchange.

The company’s CEO Azuddin Abdul Rahman said it is close to making 60 million ringgit ZAR 206m) in sales next year and aims to be a global player beyond 2020.

“We are open to that (listing) option. It’s our target and we are working towards it.”

The report said the company has generated 42 per cent of its sales through e-commerce platforms since 2017.

SimplySiti is targeting to enter Indonesia next month.

The company was founded in 2010 and is JAKIM certified.

source


SANHA Comments:
The need for Halaal assessment of cosmetics lies in the fact that forbidden and impure substances are commonly used in the manufacturing process. The intentional application of impurities onto the body is not only prohibited in itself, but would affect the state of one’s tahaarah (ritual purity) and the validity of salaah (prayers). Lip care products are a matter of added concern, as ingestion is always a possibility. Insect derived carmine colour is often used in lipstick and other make-up products.

Conversely certain substances are not permissible for ingestion, however, there may be no harm in external application, e.g. snail slime may not be eaten, but it is not regarded as an impure substance in itself.