KUALA LUMPUR: Five companies have been fined a total of RM415mil for fixing the price of chicken feed, says the Malaysia Competition Commission (MyCC).
MyCC chief executive officer Iskandar Ismail said the companies were found to have infringed Section 4 of the Competition Act 2010 by forming a cartel to fix the price of chicken feed.
The five companies are Dindings Poultry Development Centre Sdn Bhd, FFM Berhad, Gold Coin Feedmills (Malaysia) Sdn Bhd, Leong Hup Feedmill Malaysia Sdn Bhd, and PK Agro-Industrial Products (M) Sdn Bhd.
They were fined RM70 mil, RM42 mil, RM97 mil, RM157 mil and RM47mil respectively.
“Cartels are a supreme evil in competition law. That is why we acted strictly to tackle these issues. It is the highest economic sabotage to the consumers,” he told a press conference at MyCC’s office here on Friday (Dec 23).