SHAH ALAM: A supermarket chain company was charged at the Sessions Court here today for making unreasonable profit by hiking the price of a product sold at its premises.
Trendcell Sdn Bhd, represented by its director Ting Pooi Guan pleaded not guilty to the charge under Section 14(1) of the Price Control and Anti-Profiteering Act 2011 which was read before judge Ahmad Azhari Abdul Hamid.
The charge said Trendcell had committed the offence at Mutiara Tropicana in PJU 3, in Petaling Jaya at about 4.39pm on May 6 last year by raising the price of Sweet Meadow New Zealand Wild Flower Honey 500g.
The company had raised its price to RM43.99 from RM28.90.
By hiking the price, an extra profit margin of RM1.41 was made. The original RM2.33 profit was raised to RM3.74.
By doing so, the company had failed to comply with Rule 2 (2) (b) of the Price Control and Anti-Profiteering (Mechanism to Determine Unreasonably High Profit) (Net Profit Margin) Regulations 2014.
The offence is punishable under Section 18(A) of the same Act which carries a fine of not more than RM500,000 and not more than RM1 million for the second or subsequent offence.