MyCC Slaps LFM With Notice For Alleged Price Fixing On Poultry Feed

Leong Hup Feedmill Malaysia Sdn Bhd, a wholly-owned subsidiary of Leong Hup Feedmill Berhad has been slapped with a Notice of Proposed Decision issued by the Malaysia Competition Commission over price fixing.

In a filing to Bursa, LFM confirms receiving the notice and claimed the proposed decision notice was issued premised primarily on the allegation that it had engaged in agreements and/or concerted practices to fix the quantum of poultry feed price. The offense is in breach of Section 4(1) read together with Section 4(2)(a) and 4(3) of the Act.

At this juncture, there is no indication of the proposed financial penalty, and the proposed directions are not final.

LFM states that it strongly believes that the allegation of the aforesaid infringement is without merit and intends to defend such allegation vigorously. It added that it will review the matter with the external legal counsel and submit written representations within the specified period and make an oral representation before the MyCC.

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