KUALA LUMPUR: Malayan Flour Mills Bhd's (MFM) subsidiary, Dindings Poultry Development Centre Sdn Bhd (DPDC), has filed for a judicial review of the Competition Appeal Tribunal's (CAT) decision not to suspend a RM70 million fine imposed by the Malaysia Competition Commission (MyCC).
In early December, CAT dismissed DPDC's application for a stay of the MyCC's decision on the fine pending the disposal of DPDC's appeal to the CAT against the MyCC's decision with no order as to costs.
According to a Bursa Malaysia Securities filing, MFM said the High Court has scheduled the hearing for DPDC's leave application on Jan 2, 2025.
"On Dec 16, 2024, DPDC filed an application for leave to institute judicial review proceeding against the CAT decision on Stay and seek a stay order in relation to the MyCC's decision."
"On Dec 18, 2024, MyCC filed an application to enforce the MyCC's Decision under Section 42 of the Act," the filing said.
At 5 PM, its stock rose by 0.94 per cent, increasing by half a sen to 53.5 sen from the previous closing price of 53 sen, bringing its market capitalisation to RM662.95 million.