Airscream UK plans to invest MYR100 million ($21.12 million) in its operations over the next five years and move its headquarters to Malaysia, reports the Business Times.
The company has already set up administrative, sales and marketing operations as well as a showroom in Shah Alam, with close to 40 employees locally and 100 globally.
Airscream founder and CEO Sam Ong cited a robust market and vaping industry ecosystem as reasons for the company’s decision.
Over the past decade, Malaysia’s vaping industry has grown into a MYR3 billion business, providing employment to more than 30,000 Malaysians, according to the Malaysian Vape Chamber of Commerce.
Ong believes the market is poised for further growth, potentially driving more foreign direct investments into the country and bolstering job creation.
“We are also encouraged by the passing of the Control of Smoking Products for Public Health Bill 2023, which brings Malaysia on par to other countries around the world, including the U.K., Australia, Thailand and Singapore, which have standalone legislation on tobacco and vape,” Ong was quoted as saying.
Airscream was established in 2018 as a manufacturer and retailer of the AirsPop vape product.