Hajiji disappointed with GLCs lower dividend payments this year

 

Masidi (third from left) is receiving, on behalf of the Sabah government, a mock cheque for RM50mil as a dividend payment from SMJ Sdn Bhd CEO Dr Dionysia Kibat.

KOTA KINABALU: Datuk Seri Hajiji Noor is disappointed over the lower amount of dividends paid by statutory bodies and state-owned government-linked companies (GLCs) to the Sabah government this year.

The Chief Minister said the statutory bodies and GLCs have paid RM138.7mil in dividends and contributions to the state government as of Oct 30 this year, which was 8.8% lower than the amount received last year.

“All the statutory bodies and GLCs need to beef up efforts to generate more income in the years ahead,” he said in his speech at the closing ceremony of the board of directors course and presentation of dividend and contribution at a resort here on Tuesday (Oct 31).

State Finance Minister Datuk Seri Masidi Manjun delivered Hajiji’s speech.

Among those paying dividends to the state government was the latest state GLC, SMJ Sdn Bhd (SMJSB), which paid RM50mil.

The other agencies paying dividends included Sabah Credit Corporation (RM17mil), KKIP Sdn Bhd (RM12mil), Sabah Energy Corporation Sdn Bhd (RM12mil), Innoprise Corporation Sdn Bhd (RM3.568mil) and Desa Plus Sdn Bhd (RM2mil). - Star

Flash floods hit several main roads in KL

FLASH floods have been reported along several mains roads in Kuala Lumpur due to heavy rain on Tuesday (Oct 31).

According to Astro Radio Traffic, affected roads include Jalan Kuchai Lama, Kuala Lumpur-Seremban Highway, Jalan Cheras, Jalan Yaacob Latif, Jalan Kuching, Bukit Jalil Highway, Jalan Syed Putra, Jalan Tun Razak and Jalan Lapangan Terbang Subang.

Several lanes along the roads were impassable due to stagnant water.

Traffic is slow and motorists along these routes can expect travel delays.

- Star

Ahli akademik urus kekacauan, perubahan bersama kerajaan, seru Anwar

 

Kelebihan teknologi dan kerancakan gelombang digital mampu membawa kelebihan kepada masyarakat dan negara, kata Perdana Menteri Anwar Ibrahim.

PETALING JAYA: Perdana Menteri Anwar Ibrahim menyeru ahli akademik agar gigih menguruskan segala kekacauan dan perubahan yang sedang dan akan berlaku bersama-sama kerajaan serta pemimpin.

Beliau berkata kerajaan dan ahli akademik mesti bersama-sama mencari ikhtiar paling baik dan berkesan untuk menghasilkan dapatan ilmu yang berupaya meraikan daya usaha serta daya cipta rakyat tempatan ke arah kemajuan sosial dan budaya lestari.

“Apatah lagi dengan segala kelebihan teknologi dan kerancakan gelombang digital. Saya percaya, semua itu membawa kelebihan dan potensi yang boleh diadun untuk memberi kebaikan kepada masyarakat dan negara,” katanya menurut laporan Bernama.

Teks ucapan beliau itu dibacakan Menteri Pendidikan Tinggi Mohamed Khaled Nordin pada Anugerah Akademik Negara ke-15 di ibu kota, malam ini.

Anwar berkata era sekarang yang sarat dengan cabaran dan kekacauan bukan sahaja menjadikan agenda kemajuan sering bergelut dengan nilai serta moral baik, malah pegangan terhadap ilmu dan kesarjanaan turut terhakis secara radikal.

Perdana Menteri menjelaskan ketaasuban dan pemikiran sempit, ideologi yang berpaksikan pada kemewahan material dan prinsip yang tidak konsisten juga terus merumitkan keadaan.

“Itu belum lagi kita melihat semua ini dalam lensa global yang menyaksikan pelbagai pertembungan. Pertembungan blok perdagangan, krisis alam sekitar, peperangan dan konflik yang berpanjangan.

“Kesemua ini memberi tempias yang besar kepada negara dan mesti kita uruskan dengan cara yang bukan sahaja berkesan dan strategik, tetapi pantas dan praktikal,” katanya.

Anwar berkata segala kekacauan dan kerancuan itu menuntut ahli akademik untuk menebalkan rasa tanggungjawab kepada agenda pembinaan bangsa serta aspirasi nasional.

Selain itu, beliau turut berharap ahli akademik tempatan akan memainkan peranan menjadi peneraju akal dan pemikiran bangsa khususnya dalam menggerakkan Gagasan Malaysia Madani sebagai etos nasional yang menyeru kepada kebaikan.

Sehubungan itu, Anwar memberi jaminan bahawa Kerajaan Perpaduan di bawah pimpinannya akan terus memberi dorongan kepada semua Institusi Pengajian Tinggi (IPT) khususnya dalam usaha meneroka dan mewujudkan bidang pengajian baharu termasuk bidang ekonomi, kesejahteraan dan kelestarian.

“Pengembangan dan pelebaran ufuk ilmu mesti menjadi agenda nasional yang kalis politik dan kepentingan diri.

“Malah, membangunkan suatu ekosistem pendidikan tinggi yang bertaraf global harus menjadi usaha berterusan. Kita mahu meletakkan Malaysia sebagai negara yang mengangkat dan menghormati ilmu,” katanya.

Menyentuh mengenai Anugerah Akademik Negara, Anwar berkata ia perlu dilihat sebagai perkara besar dalam meneruskan tradisi yang dimulakan kerajaan untuk meraikan kesarjanaan ahli akademik tempatan.

Katanya masyarakat sentiasa memerlukan ikon kesarjanaan dan suri teladan yang berketerampilan, berintegriti lagi berwibawa. - FMT

Malaysia diversifying exports to non-traditional markets, says Anwar

 

Prime Minister Anwar Ibrahim said the maintenance, repair and overhaul of business jets had drawn investments of RM710.25 million. (Pixabay pic)

KUALA LUMPUR: Malaysia will continue efforts to diversify its export destination, especially to non-traditional markets such as the Middle East and Latin America.

Prime Minister Anwar Ibrahim said these markets showed tremendous potential.

During the first nine months of 2023, exports to these markets recorded positive growth of 24.7% and 2.3% respectively, he said.

“Among the programmes that are being carried out include the international sourcing programme,” he said during Ministers’ Question Time at the Dewan Rakyat today.

Anwar said this was among the government’s efforts to mitigate the decline in export value following the uncertain global environment.

“The government is also implementing the trade and investment promotion mission overseas, aimed at promoting Malaysia as a choice destination for foreign direct investments.”

He said his working visit to New York recently had attracted three US companies with a potential investment commitment of RM4.74 billion in medical devices, electrical & electronics (E&E) and machinery & equipment sectors.

“Two projects in E&E and machinery & equipment sectors with potential investments worth RM2.74 billion are expected to be completed by end-2024.

“Another project involving medical devices valued at RM2.0 billion is targeted to be secured in stages until 2031. The first phase, with RM545 million as initial investment, has been approved by the Malaysian Investment Development Authority (Mida),“ he said.

On his working visit to the United Arab Emirates (UAE), Anwar said the government had succeeded in securing investment commitments from the country amounting to RM40.6 billion.

These were in the renewable energy (RE) sector and aerospace. The maintenance, repair and overhaul of business jets had drawn investments of RM710.25 million.

“Masdar has made a due diligence visit to identify several partners among local companies to carry out RE projects in stages over 10 years.

“Masdar has also signed an MoU with CitaGlobal Sdn Bhd to forge cooperation in RE projects, such as solar and wind turbines.

“Going forward, Masdar and Mida will establish a steering committee to facilitate the projects between Masdar and local companies to ensure these projects are carried out in Malaysia,” he said.

He said Masdar’s CEO and delegation would be in Malaysia this week to meet their potential partners, arranged by the investment, trade and industry ministry (Miti) and Mida.

The UAE is currently the biggest investor in Malaysia from West Asia and the second-biggest among the Organisation of Islamic Cooperation countries.

To date, UAE’s investments in various manufacturing projects implemented in Malaysia totalled US$388.8 million (RM1.48 billion).

Anwar said he had also met renowned companies in Saudi Arabia such as Public Investment Fund and Saudi Arabian Oil Co (Aramco) during his working visit to the kingdom.

Aramco had shown interest to increase investments in Malaysia in the manufacturing sector (downstream) and retail business in the petrochemical industry.

“Aramco is Petronas’ partner in refining and petrochemical projects in the Pengerang Integrated Petroleum Complex in southern Johor.

“At present, Aramco is fine-tuning its investment plan. The government is committed to providing complete facilitation (end to end) to realise this investment,” he said.

The investment commitment signed through these working visits were in line with the existing policies as outlined in the mid-term review of the 12th Malaysia Plan and the New Industrial Master Plan 2030 to encourage RE, medical devices, E&E and other priority sectors.

In ensuring the potential strategic investments from the trade and investment mission and the prime minister’s official working visits sessions can be implemented, the government has decided to set up the Investment and Trade Action Coordination Committee under Miti. - FMT

Tesla, Starlink allowed 100% foreign ownership for nation’s benefit, says Anwar

 

Prime Minister Anwar Ibrahim said the government wants to promote economic growth and technological advancement with Tesla and Starlink’s arrival. (AP pic)

PETALING JAYA: The government’s decision to grant 100% foreign ownership to companies such as Tesla and Starlink is to promote economic growth and technological advancement, says Prime Minister Anwar Ibrahim.

Anwar told the Dewan Rakyat that in the case of Starlink, the factors considered were global organisational structure, which demands a more effective decision-making process, as well as the Malaysiam Digital Bill of Guarantees and the benefits of Starlink services nationwide.

Anwar further said Tesla’s exemption on foreign ownership rules that prevent any foreigner or foreign company from owning 100% equity was in line with the government’s prior approval for new projects, expansions and diversification initiatives within the manufacturing sector.

He was replying to a question from Hamzah Zainudin (PN-Larut), who wanted to know why the government did not apply the local equity ownership requirement for either company.

The issue of equity ownership was introduced with the New Economic Policy in 1970, which aimed to help Bumiputeras achieve a 30% equity share in businesses operating in Malaysia, but the mechanics of how this is achieved varies according to industry.

Previously, Anwar had welcomed the entry of the Elon Musk-owned companies into the domestic market, pointing to the technological, economic and manufacturing benefits they would bring with them. - FMT

Court awards man RM700,000 for money stolen from crypto-wallet provider

 

Judge Sazlina Safie said the businessman had proven his claim against Luno Malaysia Sdn Bhd on the balance of probabilities. (Luno pic)

PETALING JAYA: The sessions court here today awarded a businessman RM700,000 in damages in a negligence suit filed against a crypto e-wallet provider recognised by the Securities Commission (SC).

In what is believed to be the first decision of its kind against a cryptocurrency platform in Malaysia, judge Sazlina Safie said Yew See Tak had proven his claim against Luno Malaysia Sdn Bhd on the balance of probabilities.

In her ruling delivered online, she ordered the defendant to compensate Yew with RM598,000, the sum that was withdrawn by an unknown hacker from his account.

Yew, 49, was awarded an additional RM100,000 in exemplary damages.

On Aug 28, 2021, Yew filed the suit against Luno for failing to safeguard his cryptocurrency, kept in his Luno account.

In his statement of claim, Yew said Luno was authorised by the SC to offer this crypto service and had been doing so since July 29, 2019.

He said he was registered as a customer to buy, sell and exchange cryptocurrency through the defendant.

On March 6, 2021, money kept in the account was transferred out in three tranches by an unidentified hacker.

He said the defendant had a duty to take care of the funds based on its business expertise.

Yew said he filed a complaint with the defendant’s customer service department after discovering the losses and sent a letter of demand but did not receive a positive response.

Luno – represented by Faisal Moideen, Maximilian Tai and Clarence Tang – denied the claims.

Meanwhile, Ong Yu Jian, one of the lawyers representing Yew, said today’s decision would send a clear message that cryptocurrency platforms could be held liable for third-party hacking of customer accounts.

“It is a very encouraging development in cryptocurrency law.

“Hopefully, this leads to cryptocurrency platforms being much safer to use in the eyes of the public,” he added.

The others who represented Yew were Joshua Ho and Hanani Azamuddin. - FMT

Kuda mati dilanggar pacuan 4 roda di Selayang

 

Polis sedang menyiasat dari mana datangnya kuda berkenaan kerana sehingga kini belum ada pihak yang tampil menuntut haiwan itu, kata Pemangku Ketua Polis Daerah Gombak Noor Ariffin Mohamad Nasir. (Gambar Facebook)

KUALA LUMPUR: Seekor kuda mati selepas dilanggar sebuah kenderaan pacuan empat roda di Jalan Sungai Tua-Ulu Yam, Selayang, kira-kira 6.30 pagi tadi.

Pemangku Ketua Polis Daerah Gombak Noor Ariffin Mohamad Nasir berkata siasatan awal mendapati kenderaan pacuan empat roda jenis Ford Ranger yang dipandu seorang lelaki warga tempatan berumur 54 tahun itu dalam perjalanan dari arah Antara Gapi menghala ke Sri Gombak.

“Apabila sampai di tempat kejadian, pemandu menyedari seekor kuda berada di laluannya dan tidak sempat mengelak hingga menyebabkan berlaku kemalangan.

“Pemandu Ford Ranger bersama penumpang tidak mengalami sebarang kecederaan manakala kuda itu mati di tempat kejadian. Kes disiasat di bawah Peraturan 10 Kaedah-Kaedah Lalu Lintas Jalan 1959,” katanya dalam kenyataan hari ini.

Sementara itu, Noor Ariffin ketika dihubungi Bernama berkata polis sedang menyiasat dari mana datangnya kuda berkenaan kerana sehingga kini belum ada pihak yang tampil menuntut kuda itu.

“Saya difahamkan di sekitar kawasan kemalangan mempunyai kandang kuda tetapi belum dapat dipastikan sama ada kuda yang mati itu milik kandang berkenaan (atau tidak),” katanya.

Polis meminta orang ramai yang mempunyai maklumat mengenai kemalangan itu untuk tampil membantu siasatan dengan menghubungi Penolong Pegawai Penyiasat Trafik Mohd Sakri Mat di talian 019-9145899 atau Ibu Pejabat Polis Daerah Gombak di talian 03-61262222. - FMT

Sarawak gets nod for undersea power cable project to Singapore

 

Abang Johari Openg said the undersea power cables would link Tondong in Sarawak to Singapore. (Bernama pic)

SIBU: Sarawak has been given the green light by the federal government to hold discussions with Singapore on an undersea power cable project linking the state to the island republic.

Sarawak premier Abang Johari Openg said the project, which will pass through Indonesian territory, would enable Sarawak to export up to 1,000 megawatts (MW) of electricity.

“I am glad to announce that studies on the project to export up to 1,000MW of electricity to Singapore can begin, especially undersea power cables linking Tondong in Sarawak to Singapore.

“The federal government has given us the green light to hold talks on the implementation of the project and it has been decided in principle,” he said in a statement issued by the Sarawak Public Communications Unit (Ukas).

Ukas said Abang Johari held a bilateral meeting with International Hydropower Association (IHA) president Malcolm Turnbull in conjunction with the 2023 World Hydropower Congress in Bali, Indonesia, today.

At the meeting, Abang Johari shared the advantages enjoyed by Sarawak as a state with abundant renewable energy resources, especially in electric power generation.

He said Sarawak’s vast network of rivers and high rainfall catchment enabled it to generate electric power in a sustainable manner through hydroelectric dams.

Meanwhile, Abang Johari said Singapore had agreed to set up a consulate office in Kuching to enhance bilateral relations between Sarawak and the republic.

He said the setting up of the consulate-general office was agreed upon during the 10th Malaysia-Singapore annual leaders’ retreat on the island republic yesterday.

He added the setting up of the consulate office would also boost the state’s economy, especially the tourism sector.

“I have also discussed with transport minister Loke Siew Fook, while in Singapore, about a proposal to let our airline, MASwings, fly to Singapore.”

The premier said the flights would strengthen the Sarawak tourism industry, especially with more tourists from Singapore.

Abang Johari, who was among those who attended the retreat, also paid a courtesy call on Singapore president Tharman Shanmugaratnam. - FMT

Mat Sabu shoots down call for Sabah to import rice

Mohamad Sabu said Putrajaya had already taken steps to stabilise the supply and price of rice in East Malaysia and Labuan, including providing an imported rice subsidy of RM950 per tonne.

PETALING JAYA: The federal government has no plan to allow Sabah to import rice on its own for now to help stabilise the supply and price of the commodity.

Agriculture and food security minister Mohamad Sabu said the current policy on importing rice remained the best way to tackle supply-related issues.

Bernas is currently the government’s sole importer, a concession which has been extended to 2031.

“This policy has allowed the country to face global rice price instability, shielding us from the uncertainties of the international market,” he said in a parliamentary reply.

Mohamad was responding to a question by Isnaraissah Munirah Majilis (Warisan-Kota Belud), who had asked if Putrajaya would allow Sabah to import rice on its own.

Last month, Sabah deputy chief minister Jeffrey Kitingan said the state should be given the autonomy to manage its rice imports.

Kitingan, who is also the state’s agriculture, fisheries and food industry minister, proposed the idea after Bernas said the price of imported white rice was expected to rise by up to 36%.

Mohamad, better known as Mat Sabu, said Putrajaya had already taken steps to stabilise the supply and price of rice in East Malaysia and Labuan, including providing an imported rice subsidy of RM950 per tonne and earmarking some 50,000 hectares of land in Sabah and Sarawak for rice planting.

On Sept 26, Mohamad said it was difficult to end Bernas’ monopoly on rice imports, adding that there had to be solid reasons for doing so.

Separately, Mohamad said the government had in July signed a research and development MoU with Iran’s Agricultural Research, Education and Extension Organization.

The agreement, to develop the agriculture industry, would strengthen trade relations with Iran in the agro-food sector, including the halal industry.

Mohamad said agro-food exports to Iran went up by 88.7%, or RM125.5 million, last year.

Mohamad was replying to Abdul Hadi Awang (PN-Marang) who had asked what form of cooperation would be carried out between Putrajaya and Tehran in food security and the halal industry. - FMT

Vaping in Malaysia: an impending tragedy

 

From James Chong

The recent Netflix documentary “Big vape: the rise and fall of Juul” drew attention to the US e-cigarette company, which at one time held a lion’s share of the market there. The US Food and Drug Administration (FDA) has since banned Juul from selling certain products.

Mitch Zeller, who was the director of FDA’s Center for Tobacco Products, said: “The ultimate tragedy in the tortured story of Juul is that they had succeeded where every predecessor had failed.

“They had succeeded with technology that more efficiently delivered nicotine into the lungs without having to burn tobacco leaves and inhale tobacco smoke.

“The tragedy isn’t the product that they produced — the tragedy is that they then engaged in advertising, marketing and promotion, coupled with a product that did a better job of delivering an addictive drug that appealed to kids, whether they intended it or not.

“By doing that, they blew up all the progress that was being made. That is the ultimate tragedy.”

In Malaysia, in April this year, vaping liquids containing nicotine were exempted from the restrictions of the Poisons Act 1952.

Those products, no longer regulated, can be sold to anyone (even those aged under 18). They can be advertised, marketed and promoted everywhere. They can contain any ingredient or any nicotine concentration.

Malaysia is now in the same position as the US during the rise of “Big Vape”. Back then, there were no regulations governing the vape products and vape industry.

Policymakers and regulators in Malaysia have an opportunity to stop the same situation arising here by enacting vape regulations.

However, it is clear that vape liquids will not be banned in Malaysia. Prime Minister Anwar Ibrahim said in the 2023 budget earlier this year: “The government plans to impose an excise duty on liquid or gel products containing nicotine used for electronic cigarettes and vapes.

“Although nicotine-containing vape products are still illegal, in reality they are widely sold and estimated to be worth more than RM2 billion. It would be better if its use is regulated and taxed.”

The proverbial horse has long bolted from the open barn door. It is now time to rein in the vape industry’s advertising, marketing and promotion and to ensure that vape consumers are protected from unsafe vape products.

It is also clear that the health ministry is unable to push through the passage of the controversial Control of Smoking Products for Public Health Bill 2023.

It failed to pass during the previous Ismail Sabri Yaakob government and it has failed to pass during this Anwar Ibrahim government despite being listed twice for debate in Parliament (June 12, 2023 and Oct 9, 2023).

Most of the debate on the bill centred on the Generational End Game (GEG) proposal. It is very clear that it does not have the full support of MPs.

The insistence of the ministry to insert GEG into the bill has led to its own failure to regulate vape products and the vape industry.

The urgency is to introduce vape regulations. No one opposes that, not even the vape industry. Perhaps, the government should just do that first and then only engage in the endless academic debates on GEG.

Vape consumers need protection, and vape consumers need protection now.

There are two routes to regulate vape products and the vape industry. The first is to have a specific bill in Parliament to provide the ministry with the necessary powers.

The second and quicker option is to enact regulations under the Food Act 1983.

Tobacco products and the tobacco industry have so long been regulated by the Control of Tobacco Products Regulations 2004, under the Food Act 1983.

The definition of “tobacco” is wide enough to cover vaping liquids containing nicotine. Indeed, the current rule against smoking within three metres of eateries also prohibits vaping.

If vaping in public places can be prohibited by an existing regulation, why can’t vaping products and the vaping industry be regulated in a similar way?

The stumbling block to this more efficient route is the ministry’s insistence on the GEG proposal, which cannot be enacted through ministerial regulations and must be passed by Parliament.

Meanwhile, we can only brace ourselves for the tragedy that will unfold due to the lack of vape regulations. - FMT

James Chong is an FMT reader.

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.

Annuar Musa made PAS deputy election chief

 

New PAS deputy election chief Annuar Musa said he will meet Sanusi Nor in due course to discuss his role in the party.

PETALING JAYA: Former Umno secretary-general Annuar Musa, who joined PAS six months ago, has been named its deputy election chief.

Speaking to FMT, the former Ketereh MP said PAS secretary-general Takiyuddin Hassan informed him of the decision after the party’s meeting yesterday.

He said he would meet PAS president Abdul Hadi Awang and party election chief Sanusi Nor to discuss his new role as well as his position in the party’s committee.

“I would like to thank the president and the committee for the trust placed in me. I will try to give my best as a member,” Annuar told FMT.

Last June, Annuar, who is also a former communications and multimedia minister, officially joined PAS after being expelled from Umno in December 2022.

Earlier, Takiyuddin announced the appointment of Annuar and another former Umno leader, Shahidan Kassim, to PAS’s central committee along with seven others.

Shahidan, the Arau MP, was expelled from Umno for standing for parliamentary elections on a Perikatan Nasional ticket after Umno dropped him from its list of candidates. - FMT

Govt to continue strengthening national water management

 

Prime Minister Anwar Ibrahim said the government will continue to empower national water management through the National Water Policy which will be finalised after engagement sessions with state governments are conducted.

“I have chaired the 5th National Water Council Meeting (MAN 5), an important platform involving the federal and state governments responsible for setting policies, direction and approaches relating to national water management and development,” he said in a Facebook post today.

To reduce the risk of disasters related to dam failures which pose a threat to people, Anwar said the Dam and Water Infrastructure Technical Centre (PTE) would be streamlined with the placement of experienced officers with cross-sector expertise to undertake monitoring and inspection of dam safety and technical aspects on a centralised basis.

Anwar said the government paid serious attention to the issue of water pollution and he had directed all departments and agencies at the federal level to monitor and take appropriate actions in collaboration with state governments based on the National River Water Quality Status Report.

“I touched on the need to strike a balance between national water availability and needs by managing water resources more effectively based on best governance principles so that it could be utilised in an optimum manner to meet the needs of the people,” he said.

- Bernama

Armizan: Chicken prices can drop lower than RM9.40 per kg after Nov 1

The price of chicken can be much lower than the previously set controlled price of RM9.40 per kg, even after subsidies and price controls are discontinued from Nov 1.

Acting Domestic Trade and Cost of Living (KPDN) Minister Armizan Mohd Ali said industry players have assured the government there would not be a surge in prices of chicken from Nov 1 following the termination of subsidies and price controls, and that supply of chicken would be adequate.

"After implementing (subsidies and price controls on chicken) for 20 months, we see that with the industry’s assurance, we can float the price of chicken.

“The industry has also guaranteed that the supply will be sufficient, and they are able to sell it at a lower rate than the (previous) controlled prices," he told reporters after officiating at the Malaysia Competition Commission (MyCC) Open Day today.

Earlier, the government set the ceiling price for chicken at RM9.40 per kg.

Minister of Agriculture and Food Security (MAFS) Mohamad Sabu yesterday announced that the government has agreed that subsidies and price controls for chicken will be fully terminated starting Nov 1, while subsidies and price controls for grade A, B and C eggs will remain according to the existing mechanism.

Mohamad said the rationale for ending subsidies in bulk for chicken is to reduce subsidy leakage, which has also been enjoyed by foreigners and high-income groups.

He also called on consumers not to resort to panic buying during the coming days as the supply of chicken is guaranteed to be sufficient.

Price monitoring

The media has reported concerns among the public regarding the implementation of the floating price system for chicken as many were afraid that the prices would soar, making it difficult for lower-income groups to purchase this raw material.

Armizan said that the industry players' commitment was translated through studies and engagement sessions held previously in collaboration with MAFS.

Despite the assurances from the industry, Armizan said KPDN will still mobilise 900 officers to all areas tomorrow to monitor chicken prices and take legal action if necessary.

In another development, Armizan said KPDN is in the final stages of amending the Competition Act 2010 (Act 712) and the Competition Commission Act 2010 (Act 713), which would likely be tabled in the first session of the Dewan Rakyat next year.

On amendments to Act 712, he said it would include introducing a new component known as the merger and acquisition control regime to regulate, should there be a tendency for companies to merge and collude to limit prices and production.

Since 2012 until October 2023, MyCC has taken action against 247 companies with financial penalties amounting to RM175 million for offences under Act 712, while 430 cases are still under investigation, he added.

- Bernama