Subsidiary of CAB receives notice of infringement

by TMR

CAB Cakaran Corporation Bhd (CAB) announced that Tong Huat Poultry Processing Factory Pte Ltd (THPPF), a 51% owned subsidiary of CAB and and Ban Hong Poultry Pte Ltd (BHP), a wholly-owned subsidiary of THPPF, has received a Notice of Decision on Infringement of the Section 34 of the Competition Act from the Competition and Consumer Commission of Singapore (CCCS).
The Infringement Decision against THPPF, BHP and other parties were in regards to their participation in anti-competitive agreements and practices in not competing for each other’s customers.
In a exchange filing yesterday, CAB noted the two groups were meant to coordinate the quantum and timing of price movements in relation to the supply of fresh chicken products in Singapore and was triggered between 2007 and 2014. CCCS will impose a penalty of RM10.9 million on THPPF and BHP after an investigation was initiated in March 2014.