Latest news with #KPDN
The Sun
13 hours ago
- Business
- The Sun
No price hikes in Kelantan after SST adjustment, says KPDN
KOTA BHARU: The Domestic Trade and Cost of Living Ministry (KPDN) in Kelantan has reported no price increases following the Sales and Service Tax (SST) adjustment implemented on July 1. State director Azman Ismail stated that inspections under 'Op Kesan 4.0' have monitored 195 essential items across 39 premises. 'Our focus remains on SST-exempt goods like fresh produce and canned foods to prevent unjustified price hikes,' Azman said during a media briefing at PKT Supermarket in Pasir Tumboh. 'No complaints or enforcement actions have been recorded so far.' The ministry will continue monitoring the supply chain from manufacturers to retailers to deter exploitation of the SST adjustment. Azman added that Ops Kesan 4.0 targets SST-affected items, registered businesses, compliance timelines, and profit margins to curb profiteering. Regarding reports of subsidised cooking oil being resold to food operators, Azman clarified that no formal complaints have been lodged, though investigations are ongoing. 'To address leakages, we are testing an app in Sabah, Johor, and Selangor to regulate purchases. Once implemented, it will track Kelantan's 2,300-metric-tonne quota,' he said. - Bernama
The Sun
a day ago
- Business
- The Sun
Serious irregularities found in 2025 Auditor-General's Report
KUALA LUMPUR: Serious irregularities were uncovered in three audits detailed in the 2025 Auditor-General's Report (LKAN) Series 2, tabled in the Dewan Rakyat today. Governance weaknesses were identified in FELCRA Berhad's oil palm plantation leasing procurements, involving RM241.76 million from 2022 to 2024. Auditor-General Datuk Seri Wan Suraya Wan Mohd Radzi highlighted flaws in Universiti Kebangsaan Malaysia's (UKM) tender procurement process, involving RM58.45 million. 'Late penalty charges of RM162.75 million for the GEMPITA supply contract remain uncollected, while RM1.42 million in penalties were not imposed for maintenance services,' she said. Additionally, RM107.54 million in procurements were fragmented. The subsidised cooking oil programme by the Ministry of Domestic Trade and Cost of Living (KPDN) also showed monitoring lapses, with no targeted allocation for eligible groups. Wan Suraya urged KPDN to continue reducing quotas to curb leakages. The Selective Pre-Q Procurement Method introduced by the Ministry of Finance was criticised for lacking transparency. 'Some companies failing initial evaluations were still selected at later stages,' she noted, recommending open tenders for accountability. Five audits covering RM48.873 billion in programmes were reviewed, with 22 recommendations submitted. The National Audit Department recovered RM157.73 million from 2024 to June 2025 through penalties and tax collections. The report is accessible via and - Bernama
BusinessToday
a day ago
- Business
- BusinessToday
Subsidised Cooking Oil Program Marred By Lapses, Says Audit
The Auditor-General's Report 2/2025 revealed widespread weaknesses in the implementation, monitoring and enforcement of the subsidised cooking oil programme under the Ministry of Domestic Trade and Cost of Living (KPDN), citing breaches in regulations and standard operating procedures (SOPs). Among the issues were open sales to all consumer categories, sales exceeding the set limit and non-compliance with the Scheduled Controlled Goods Retail Licence (CSA). The report also flagged violations such as subsidised oil being priced above the RM2.50 ceiling, damaged oil lacking clear SOPs for disposal and the absence of halal certification for several suppliers. 'Existing policies also do not specify that subsidised oil should be distributed only to targeted groups in need, resulting in even foreigners benefiting from the government aid,' the report said. A key finding showed that 55,167kg of subsidised oil was sold to ineligible groups such as eateries, hawkers and NGOs, which violated paragraph 7.3.4(g) of the COSS (Cooking Oil Price Stabilisation Scheme) SOP. It was also revealed that 713,442kg of subsidised cooking oil was sold beyond the permitted limit of three packets per person per transaction, as stated in a ministry directive dated July 21, 2022. The audit highlighted data manipulation among wholesalers and retailers, with a discrepancy involving 13,124kg in stock transaction records. Some subsidised oil was sold between RM2.60 and RM4 per packet, breaching the price control cap. Additionally, 942kg of damaged oil was found stored by two companies intending to sell it to used-oil collectors, while 16 companies were identified repackaging spoiled oil. Nine out of 72 packing firms sampled lacked halal certification and six of them falsely printed halal markings on packaging. The report recommended that KPDN revise and enhance the COSS SOPs periodically, including the management of spoiled oil and stricter halal certification monitoring. It also proposed a clear policy ensuring that only eligible households receive subsidies. A more comprehensive digital system like eCOSS should be adopted for real-time tracking of distribution and sales to reduce data manipulation. Internal audits and cross-verification of sales reports were also advised. The ministry was urged to review existing licensing regulations, including suspending or revoking CSA licences for violations, especially when multiple licences are registered at the same premises. The Auditor-General further recommended KPDN to enforce retail price monitoring aggressively with support from local authorities to uphold the RM2.50 price ceiling and to establish a complete damaged oil management SOP, enforce mandatory halal certification and prosecute false halal labelling under the Trade Descriptions Act 2011. Expanding the subsidy channel via the Sumbangan Asas Rahmah (SARA) programme was also among the suggested improvements. Related
Malaysian Reserve
a day ago
- Business
- Malaysian Reserve
Consumer Credit Bill 2025 passed, regulating commission to be set up
KUALA LUMPUR — The Consumer Credit Bill 2025 was passed in the Dewan Rakyat today to protect the interests of credit consumers in the country. Deputy Finance Minister Lim Hui Ying said the bill was enacted to address significant gaps in the unregulated industry, particularly businesses that target vulnerable credit consumers who are susceptible to exploitation. The bill also aims to standardise the regulatory framework in the currently diverse consumer credit landscape in Malaysia. The bill was unanimously approved after debate by 24 members of parliament. Under the Consumer Credit Act 2025, the Consumer Credit Commission (CCC) will be established to regulate credit businesses that currently operate without a licence or specific monitoring. 'The Consumer Credit Act 2025 will be framed as a master act that is complementary to existing acts under the administration of authorities, regulators and supervisors, and does not duplicate the functions or roles of existing ministries and agencies. 'This includes the Ministry of Housing and Local Government (KPKT), the Ministry of Domestic Trade and Cost of Living (KPDN), the Malaysia Cooperatives Commission, Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC),' she said when winding up the debate. She explained that the integrated regulatory approach will be implemented in phases by taking into account the readiness of the industry and the capabilities of the CCC which will be enhanced from phase to phase. For Phase 1 preparations, she said, KPKT as the regulatory and supervisory authority will ensure that licensed money lenders comply with the aspects of credit consumer protection introduced through the act. With the enactment of the act, KPKT will receive an additional legal mandate to regulate syariah-compliant businesses for both sectors, namely the regulation of loans with pawnshops. KPDN will also amend several provisions in the Hire Purchase Act 1967 to strengthen consumer protection and modernise existing provisions. Commenting on the maximum interest rate charged by credit businesses, Lim explained that the government will not set any interest rate cap in phase 1. 'We will not set (interest rates) in phase 1… however, we must collect data in phase 1 and 2,' she said. In phase 2, which is expected to start in 2028, the regulatory functions currently held by the KPKT and KPDN will be transferred to the CCC. This includes money lending, pawnshop business, hire purchase and credit sales activities. Meanwhile, phase 3, targeted to begin in 2031, will focus on the regulatory consolidation of all consumer financial activities under one centralised entity after a comprehensive review by the government. — BERNAMA
The Sun
2 days ago
- Business
- The Sun
Subsidised cooking oil flaws found in KPDN audit report
KUALA LUMPUR: Weaknesses in the implementation, monitoring, and enforcement of Malaysia's subsidised cooking oil programme have been highlighted in the 2025 Auditor-General's Report. The findings, tabled in the Dewan Rakyat, point to regulatory gaps in the Ministry of Domestic Trade and Cost of Living's (KPDN) policies. The report identified multiple issues, including the sale of subsidised cooking oil beyond permitted limits, open sales to ineligible consumers, and non-compliance with retail licensing rules. Prices exceeding the RM2.50 per packet ceiling, lack of halal certification, and improper handling of spoiled oil were also flagged. 'Current policy does not specify that distribution must target eligible groups, allowing foreigners to benefit from subsidies,' the report stated. Auditors found that 55,167 kg of subsidised oil were sold to eateries, restaurants, and NGOs, violating programme guidelines. Further discrepancies included wholesalers and retailers manipulating sales records, with 713,442 kg sold above the three-packet purchase limit. Some retailers charged between RM2.60 and RM4.00 per packet, breaching the controlled price. The audit also uncovered poor management of spoiled cooking oil, with two companies storing 942 kg for resale to used oil traders. Additionally, 16 firms were found repackaging spoiled oil. Among 72 packaging firms sampled, nine lacked halal certification, with six falsely printing halal logos. To address these issues, the report recommended that KPDN strengthen the Cooking Oil Price Stabilisation Scheme (COSS) SOPs, enforce targeted distribution, and adopt digital monitoring via eCOSS. Stricter penalties, including licence revocation for violators, were also suggested. 'KPDN must collaborate with enforcement agencies to ensure compliance with the RM2.50 price cap,' the report urged. The ministry was also advised to develop clear procedures for spoiled oil disposal and make halal certification mandatory for all packaging firms. – Bernama
