Leong Hup faces huge fine if guilty of infringing Competition Act

In a filing with Bursa Malaysia yesterday, Leong Hup said that the Malaysia Competition Commission has also proposed LFM to cease from participating and engaging in the alleged anti-competitive horizontal agreement with regards to any discussion on price-related matters pertaining to chicken feed.’s wholly-owned subsidiary, Leong Hup Feedmill Malaysia Sdn Bhd , could be fined RM157.47mil if it is found guilty of infringing Section 36 of the Competition Act 2010.

Should LFM be found guilty, it explained that MyCC has also suggested that its subsidiary submit monthly price-related matters to MyCC, including the announcement of price adjustment to customers, a list of recent poultry feed prices and the monthly cost for poultry feed within six months from the issuance of the infringement decision.

“ “The SOP should then be submitted to MyCC within six months from the issuance of the infringement decision,” it said.

Source: Entertainment Trends (entertainmenttrends.net)

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