Yakin Maju fined for failing to keep records of business operations

SEREMBAN: Retail and wholesale company Yakin Maju Peruncit dan Pemborong Sdn Bhd was fined RM12,000 by the Sessions Court here today for failing to keep and maintain proper records relating to its business operation.
Judge G.Ramesh handed down the punishment after the company director, Abd Jalil Syamaun, 58, pleaded guilty to the charge.
The company, a supplier of soya bean, was charged with failing to keep a record of its business operations, which included keeping and maintaining proper records, like receipts and sales book, as well as invoices from suppliers, for the month between January and April last year.
The offence was committed at 3.15 pm on Oct 27 last year.
As director of the company, Abd Jalil was fined RM7,000, in default three months' jail, for the same offence. He paid the fine.
According to the facts of the case, the Domestic Trade, Cooperatives and Consumerism Ministry received a complaint that the company had increased the price of 50kg of soya bean for RM126 from RM119.
The company gave the excuse that that price rise was due to the Goods and Services Tax (GST).
However, in the receipt given to the buyer, the payment for GST and the GST registration number were not stated.
Based on the complaint, the ministry conducted a check at the company's premises in Batu Kikir on April 3 last year and found evidence of profiteering.
A notice under Section 21 of the Price Control and Anti-Profiteering Act was issued to the company, which failed to provide the necessary documents that were requested.
In failing to do so, it hampered the ministry from probing further into alleged profiteering activities by the company.
The company was charged under Section 53(1)(a) of the Price Control and Anti-Profiteering Act for failing to keep and maintain records of its business operations.
The prosecution was conducted by deputy public prosecutor from the Domestic Trade, Cooperatives and Consumerism Ministry. Abd Jalil was unrepresented. — Bernama