Tuesday, December 27, 2016

AMENDMENTS ON TRADE DESCRIPTIONS (CHEAP SALE PRICE) 1997

In view of the economic downturn the Government is stepping up efforts to reduce the impact. 
Effective January 1, 2017 traders could only hold cheap sales limited to four times a year. These will be based on the dates pre-determined by the Government which include 1 to 30 March, 1Malaysia Mega Sales Carnival from 15 June to 31 August and 1Malaysia year-end sales from November 1 to December 31 next year. Traders are also allowed to identify and recommend a date in addition to the pre-fixed events. 

A minimum of 10 percent discount is allowed on the prices of the goods. The price tags will be based on the lowest price offered in the previous three months. 

The Director of Enforcement of Ministry of Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) said that the amendments to the Regulations under the Trade Descriptions (Cheap Sale Price) 1997 is the government's initiative on the sales execution in Malaysia to maximize its efficiency.