U8hash:MFM denies Dindings Poultry is part of cartel
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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.
“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 (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/or 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. MyCC has in its press statement dated Aug 5 highlighted that its findings are provisional and it should not be assumed that any enterprise has broken the law at this stage,” it said.