JOHOR BARU, Aug 27 — The Domestic Trade and Cost of Living Ministry (KPDN) will take stern action against businesses that impose conditions forcing the sale of one kilogramme (kg) of premium sugar if buyers wish to purchase coarse sugar.

Acting Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said that legal action will be taken against these businesses under the Control of Supplies Act 1961 for imposing conditions without approval from the authorities.

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"Such a condition cannot be imposed and if it is, please report it to us because businesses are not allowed to do that and we can take necessary action and settle the complaint immediately,” he told reporters here today responding to a raid on a business premises in Batu Gajah, Perak yesterday over such conditioned sales.

He said the ministry, along with the Economic Affairs Ministry, Investment, Trade and Industries Ministry, Agriculture and Food Security Ministry are looking for a long term solution to overcome sugar issues,

“We will ensure responsible manufacturers to supply 42,000 metric tons of processed sugar a month because that’s what they need to deliver, and so do our wholesalers,” he said.

In other developments, Armizan said the bill to amend the Companies Act 2016 will be tabled this October to introduce new provision to help companies facing financial difficulties comprehensively, and not just when facing a pandemic.

The ministry has conducted 13 engagement sessions and the draft has been approved by the Attorney-General’s Chambers, he said, adding that several final-stage engagement sessions between MPs will be held as well.

The amendment seeks to strengthen governance provisions by improving beneficial ownership reporting framework to curb money laundering, terrorism funding, bribery and tax avoidance, as well as shore up corporate rescue mechanisms and help those facing financial difficulties.

"The amendment will be in line with international standards and enable local companies to comply with good governance practices.

"Indirectly it will help authorities investigate any wrongdoing by companies and into certain individuals wanting to hide behind companies to conduct illegal activities.

”So this is what is done internatoinally, so Malaysia needs to strengthen reporting through the amendment,” he said. — Bernama