LABUAN: The Enforcement Division of the Ministry of Domestic Trade and Cost of Living (KPDN) Labuan on Friday issued two Goods Information Verification Notices (NPMB) to traders under the Price Control and Anti-Profiteering Act 2011 (Act 723) as part of Ops Kesan 6.0.
KPDN Labuan Chief Enforcement Officer Amiluddin Malang said the notices were issued to obtain information on pricing in the agricultural sector as part of the ministry’s ongoing nationwide price monitoring initiative.
He said the traders concerned are required to submit complete responses within the period stipulated in the notices.
“Failure to comply is an offence under Section 21(5) of the Price Control and Anti-Profiteering Act 2011 and is punishable under Section 57,” he said.
According to Amiluddin, corporate offenders may face fines of up to RM100,000, while repeat offences may attract penalties of up to RM250,000.
Individuals found guilty may be fined up to RM50,000, imprisoned for up to two years, or both. Repeat offenders may face fines of up to RM100,000, imprisonment of up to five years, or both.
He also reminded traders to ensure that all information, statements and supporting documents submitted to the ministry are accurate, complete and not misleading in order to avoid legal action.
Amiluddin said KPDN Labuan would continue to intensify Ops Kesan 6.0 enforcement activities to ensure effective price monitoring and safeguard consumer interests.
