Cartel: LKIM to appoint company to buy fish for stock

LKIM chairman Datuk Syed Abu Hussin Hafiz Abdul Fasal said the move would curb the cartels' growing monopoly.

"The government through the company appointed by LKIM will buy, store, process and market fish on a large scale to prevent the cartels from monopolising the business during the seasons of fish abundance," he said at a press conference after handing over outboard engines in Kampung Tebuk, Matang, near here, today.

A total of 46 fishermen at the Kampung Tebuk and Kampung Matang Gelugor jetties received the outboard engines costing RM494,000 to help them increase their income.

Syed Abu Hussin said at the moment, the supply of fish was experiencing high prices as it was being monopolised by cartels that bought the fish in large quantities during a good season.

He said LKIM was confident that appointing a company would stabilise or reduce the price of fish in the market.

"The issue of cartels is not a new thing as they have already moved in to buy fish at the landing locations during the seasons of abundant supply which enabled them to determine the market price," he added.