MFM denies Dindings Poultry is part of cartel


MFM poultry processing Dindings

KUALA LUMPUR: Malayan Flour Mills Bhd’s (MFM) joint-venture Dindings Poultry Development Centre Sdn Bhd (DPDC) has denied it is part of any cartel or involved in price fixing, Bernama reported.

“DPDC strongly denies the allegation of the aforesaid infringement which is without merit and intends to defend such unfounded allegation vigorously.

“DPDC will review the matter with its external legal counsel and submit written representations within the specified period and make an oral representation before MyCC,” MFM said in a filing with Bursa Malaysia.

The poultry company had on Aug 5, received a notice of proposed decision issued by the Malaysia Competition Commission or MyCC pursuant to Section 36 of the Competition Act 2010 (the Act).

The proposed decision is premised primarily on the allegation that DPDC had engaged in agreements and concerted practices to fix the quantum of poultry feed price which is in breach of Section 4(1) read together with Sections 4(2)(a) and 4(3) of the Act. “The company would like to state that at this juncture the proposed decision is not final or conclusive.”

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

Hong Kong's cenbank raises interest rate after Fed hike, HSBC keeps rate unchanged
Maybank’s financial literacy programme reaches out to over 37,000 students in 2022
Oil climbs as dollar slumps, OPEC+ keeps output cut policy
Shell makes record US$40bil annual profit
Sony Q3 profit down 7.8%, but beats analysts' estimates
Adani group's market losses hit US$100bil as stocks sink after botched share sale
DNeX secures maintenance job for IRB tax system
Oil climbs as dollar slumps, Opec+ keeps output cut policy
Kerjaya Prospek subsidiary bags RM135.41mil design-and-build job
Tech counters surge on Bursa

Others Also Read