H
Hanzo Kattori
Guest
Friday January 7, 2011
Two firms under probe over cooking oil supply
KUALA LUMPUR: Two more cooking oil repackaging companies are being investigated on suspicion of manipulating supplies of the household item meant for the domestic market, Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said.
He added that the companies would be investigated under the Control of Supplies Act 1961, which carries a maximum fine of RM250,000 if found guilty.
“I have recommended that their licences be revoked by the Malaysian Palm Oil Board (MPOB),” he said after visiting a cooking oil repacking plant in Bandar Tun Razak here yesterday.
Sufficient supply: A worker packing 1kg bags of cooking oil at the plant which Ismail Sabri visited in Bandar Tun Razak, Kuala Lumpur yesterday.
It was reported on Wednesday that the ministry was investigating four operators suspected of exporting subsidised cooking oil meant for the domestic market.
The operators were believed to be diverting subsidised cooking oil to foreign markets at higher prices.
Cooking oil sold locally is priced at RM2.50 per kilo whereas it is tagged at RM3.80 per kilo on the international market.
Ismail Sabri said companies under suspicion would be investigated by a special task force comprising representatives from his ministry, the Plantation and Commodities Ministry, MPOB, Malaysian Anti-Corruption Commission, Companies Commission of Malaysia and the Inland Revenue Board.
He reiterated that there would be sufficient supply in the market now that the Government has added another 14,000 tonnes of cooking oil to overcome the shortage, in addition to the 70,000 tonnes supplied every month.
“Give it another week or so for the new supplies to come in,” he said, reminding consumers not to panic.
