Latest news with #SimYangHok
Free Malaysia Today
a day ago
- Business
- Free Malaysia Today
Ramly Food to delay price hike, says Armizan
Domestic trade and cost of living minister Armizan Mohd Ali said they had summoned frozen food company Ramly Food for an explanation following public concern over the price hike. PETALING JAYA : Frozen food company Ramly Food has agreed to temporarily postpone a planned price hike for its products, says domestic trade and cost of living minister Armizan Mohd Ali. Armizan said his ministry summoned the company following public concern, and a meeting was held last Tuesday to clarify the situation, Astro Awani reported. 'The ministry has issued a 'Goods Information Confirmation Notice' under Section 21 of the Price Control and Anti-Profiteering Act to obtain justification for the planned price increase,' he was quoted as saying at a press conference today. The issue gained traction after a vendor notice dated April 14 from Ramly Food Marketing Sdn Bhd began circulating online, stating that product prices would go up starting next Monday. The notice attributed the increase to rising raw material costs. In a separate case, Armizan said Sim Yang Hok Industries Sdn Bhd, which recently went viral over claims it had increased the price of ice products from RM3.70 to RM6, has denied the allegation. He said the company clarified that no official notice was issued and that it had lodged a police report over the viral claims. 'So far, both companies have stated that any proposed price increase is due to operating costs and not the implementation of the sales and service tax (SST),' he said. He also advised companies to consult the ministry before implementing any price adjustments to ensure they do not violate anti-profiteering laws. The SST expansion, which took effect on Tuesday, maintains a zero rate for essential goods while imposing a 5% to 10% tax on non-essential items.
Malay Mail
a day ago
- Business
- Malay Mail
Ramly Burger, ice supplier postpone price hikes after Domestic Trade Ministry steps in, says Armizan
PUTRAJAYA, July 3 — Two companies — an ice supplier and a frozen food manufacturer — have agreed to postpone their product price hikes after being summoned by the Ministry of Domestic Trade and Cost of Living (KPDN) to explain the rationale behind the price review. Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said during the meeting last Tuesday, both companies were given appropriate advice and instructed to consult the Enforcement Division of KPDN before implementing any price adjustments. 'The companies made the announcement on Tuesday (July 1), stating that the price hike would be postponed. 'We have advised that if the matter is true, they must submit the necessary information as stipulated under Section 21 of the Price Control and Anti-Profiteering Act 2011,' he told reporters after attending the Strategic Partner Appreciation Ceremony in conjunction with the KPDN Enforcement Day celebration here today. Armizan said the two companies clarified that the price hike was not related to the revised Sales and Services Tax (SST) rate or its expanded scope but was instead due to higher operating costs. Claims alleging that Sim Yang Hok Industries Sdn Bhd would raise the price of a block of ice to RM6 from RM3.70, and that Ramly Burger had implemented a 10 per cent price hike effective July 1, 2025, have recently gone viral on social media. Armizan said the ice supplier had dismissed the viral post linking the price increase to the expansion of the Sales and Services Tax (SST) scope, describing it as false, and had lodged a police report for further investigation. 'Ramly Burger has been issued a Goods Information Verification Notice (NPMB) under Section 21 of the AKHAP 2011 to review the grounds for the proposed price revision of its products,' he said. Armizan stressed that KPDN would enhance its monitoring and carry out transparent investigations to curb profiteering and ensure that consumers are not burdened. — Bernama
