3rd July 2025 - 3 min read
There is good news for anyone worried about paying more for ice or burgers. The ice supplier Sim Yang Hok Industries and the ever-popular Ramly Burger have both agreed to hold off on raising their prices, at least for now!
This decision came after the Ministry of Domestic Trade and Cost of Living (KPDN), called both companies in to explain why they wanted to increase prices.
During their meeting, KPDN reminded the companies to check with its Enforcement Division before making any changes.
On 1 July, the two companies announced they were putting the planned price hikes on hold. KPDN also told them they need to follow the rules in the Price Control and Anti-Profiteering Act 2011 if they decide to adjust prices in the future.
What’s Really Going On?
Minister Datuk Armizan Mohd Ali made sure to clear the air about what is really going on. He said the ice supplier and Ramly Burger both explained that the planned price hikes had nothing to do with the updated Sales and Services Tax(SST).
Instead, they said higher operating costs like electricity, petrol, or raw materials were pushing them to consider raising prices.
In case you missed it, social media has been buzzing with claims that Sim Yang Hok Industries was planning to increase the price of a block of ice from RM3.70 to RM6.
At the same time, there were rumours that Ramly Burger was adding a 10% price increase starting 1 July 2025. These stories went viral and made many people worry about paying more for basic goods and favourite snacks.
False Alarm!
The ice supplier quickly responded, saying the viral post linking their price hike to the expanded SST was completely false. They have already filed a police report to find out who spread the misleading information.
Meanwhile, the ministry has given Ramly Burger an official notice asking them to explain why they were considering new prices.
This step, called the Goods Information Verification Notice, is an important part of making sure companies stay fair and follow the law.
The Ministry’s Watching Closely
Armizan said KPDN will be stepping up its monitoring to make sure businesses do not take advantage of the situation by unfairly raising prices. The ministry wants everything to stay transparent so consumers do not end up paying more than they should.
Officials are also urging companies to be honest and clear about any price changes they plan to make.
(Source: Bernama)
Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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