At a press conference, MyCC CEO Iskandar Ismail said these companies increased the price quantum of poultry feed which contains soybean meal and maize as its main ingredients between early 2020 and mid-2022.

However, he maintained that these were provisional findings and that the firms cannot be assumed to have broken the law as yet.

He said these enterprises had a presence throughout the national supply chain.

According to Iskandar, the commission had started investigations early this year by conducting raids where documents were seized to assist in the probe. He said statements were also taken from relevant individuals.

“We started our probe after complaints from many industry players over several months on the increase in the price of chicken feed,” he said.

The companies have been given 30 days to respond to the results of our probe, and more time if they wish to make an oral representation. Following this, MyCC would issue a final decision based on their representation and the evidence gathered during the investigation.

During this time, the businesses involved are allowed to continue operating as usual.

If found guilty of infringing the Competition Act 2010, MyCC can impose a fine of up to 10% of the enterprises’ turnover during the period of infringement.

Iskandar urged the public to allow the law to take its course and not make any speculations.

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