In a filing with Bursa Malaysia today, PPB said MyCC’s allegation against FFM was in relation to agreements and concerted practices by certain poultry feed millers in fixing the price of poultry feed.

“Subject to the findings in relation to the alleged infringement, MyCC had proposed to impose a financial penalty of RM46.36 million on FFM.

“There is no operational or material financial impact to the group,” it said.

It said FFM may submit a written representation to MyCC by Sept 20 and the company was working with its advisers on the matter.

The filing said the proposed decision and potential penalty of RM46.36 million were neither final nor conclusive at this juncture as MyCC had, in its press statement dated Aug 5, highlighted that its findings were provisional and it should not be assumed that any entity had broken the law at this stage.

On Aug 5, MyCC issued provisional findings against five feed millers for infringing Section 4 of the Competition Act 2010 (Act 712).

The other four feed millers which received the same notice from MyCC are Dindings Poultry Development Centre Sdn Bhd, Gold Coin Feedmills (Malaysia) Sdn Bhd, Leong Hup Feedmill Malaysia Sdn Bhd and PK Agro-Industrial Products (M) Sdn Bhd.