(C) Flickr, mike juwen
Last updated on May 6th, 2021 at 07:05 am
PETALING JAYA – Domestic Trade and Consumer Affairs Minister Datuk Alexander Nanta Linggi announced today that sellers may be penalised up to RM500,000 if caught selling surgical face masks above RM1 when the price ceiling will be implemented on Saturday.
The fine was inline with the Price Control and Anti-Profiteering Act 2011 that also includes a compound up to RM250,000 per offence.
Individual caught committing the offence could be compounded up to RM50,000 or imprisonment of up to three years. A maximum fine should also be given if convicted.
Alexander also warned retailers or resellers on attempting to violate the price ceiling by masking their prices.
They can be fined up to RM50,000 or compounded up to RM25,000. Companies on the other hand, can fined up to RM100,000 or compounded up to RM500,000. According to Domestic Trade and Consumer Affairs Minister, authorities have conducted over 45,000 random checks on facemask up to August 11, they were able to seize 55 boxes of masks valued at RM536,951 while issuing RM392,400 compound to those caught violating.
A Market Catching Its Breath The Singapore market turned noticeably quieter after the Straits Times Index (STI) went down, reflecting…
In response to a sudden and highly visible spike in strategic naval operations, the attention of the world has been…
The fast naval build-up in the area of Taiwan and Japan is causing the tension of East Asia to be…
The future of Asia in 2026 has an excellent combination of both opportunities and risks: a fresh wave of IPO…
On a dining table, food from many different cultures may look the same, but that is not the case. After…
Asia Power Index 2025 reveals a significant change of the region of Asia, transforming the entire continent. While the struggle…
This website uses cookies.
Read More