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Malaysia's Halal-certified cosmetics co SimplySiti eyes listing |
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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.
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