September 29, 2022
Malaysia-based Dindings Poultry has deadline extended to respond to price-fixing allegations
Malaysia-based Dindings Poultry Development Centre Sdn Bhd (DPDC), a partially-owned subsidiary of Malayan Flour Mills Bhd (MFM), has received a one month extension to submit a written submission in response to allegations by the Malaysia Competition Commission (MyCC) that the company was involved in poultry feed price-fixing, The Edge Markets reported.
MFM stated in a filing with Bursa Malaysia on Friday that MyCC has extended the deadline for DPDC to file its written representation from September 20 to October 21, 12pm.
MFM has been given an extra month to respond to MyCC's accusations of price-fixing, along with Leong Hup International Bhd's unit Leong Hup Feedmill Malaysia Sdn Bhd (LFM), which is owned 80% by PPB Group Bhd, and FFM Bhd.
On August 5, MyCC released a proposed decision against five feed millers, among them DPDC, FFM, and LFM, stating that the commission had provisionally found that they had violated the Competition Act 2010 by engaging in anti-competitive agreements and concerted practises in order to raise the price of poultry feed, which had soybean and maize as its primary ingredients, between early 2020 and mid-2022.
Gold Coin Feedmills (M) Sdn Bhd of the Gold Coin Group and PK Agro-Industrial Products (M) Sdn Bhd of CP Malaysia were the other two feed millers allegedly involved.
If the Competition Act of 2010 is found to have been violated by DPDC, MyCC has suggested imposing an MYR 70.02 million (~US$15.1 million; MYR 1 = US$0.22); fine, or up to 10% of DPDC's relevant turnover during the period of infringement.
- The Edge Markets