MyCC proposes RM46.36mil financial penalty on PPB's FFM

KUALA LUMPUR: Malaysia Competition Commission (MyCC) has proposed to impose a financial penalty of RM46.36 million on FFM Bhd, an 80 per cent subsidiary of PPB Group Bhd, following the findings on the alleged infringement of Section 4 of the Competition Act 2010 (Act 712).

In a filing with Bursa Malaysia today, PPB said MyCC’s allegation against FFM was in relation to purported entering into agreements or concerted practices by certain poultry feed millers in fixing the price of poultry feed.