Leong Hup prospects still in positive territory

LHIB contended the cost hikes by feed millers was mainly due to Malaysian feed mills importing the same raw materials from overseas.

PETALING JAYA: MIDF Research has maintained its recommendation on Leong Hup International Bhd (LHIB), pending the outcome of the investigation by Malaysia Competition Commission (MyCC) into allegations Leong Hup’s subsidiary, Leong Hup Feedmill Malaysia Sdn Bhd (LFM) and four other feed millers, have engaged in price fixing in violation of the Competition Act 2010.

The MyCC, last Friday, stated LFM and other feed mills had provisionally been determined to have violated Section 4 of the Competition Act 2010 (Act 712).