Carcinogens Detected in Popular Malaysian Snack... Company States "Compliance with Safety Standards"
Explanation on "Compliance with Food Safety Standards" According to Hong Kong Consumer Council Survey Results
"Compliance with Food Safety Standards" Explanation Based on Hong Kong Consumer Council Survey Results
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[Asia Economy Reporter Ki Ha-young] Following the investigation results revealing the presence of carcinogens in a famous Malaysian snack, the company's stock price plummeted significantly. The company immediately issued a statement asserting compliance with food safety standards and took steps to manage the situation.
According to Bloomberg and other sources on the 25th, the stock price of Malaysian confectionery company Hup Seng recorded its largest drop in 19 months. This came after the Hong Kong Consumer Council (HKCC) announced that carcinogens were detected in cream crackers produced by the company.
On the 22nd, trading volume exceeded the daily average by more than 30 times, causing the stock price to fall by 3.9%. This was the steepest decline since March of last year.
Earlier, the Hong Kong Consumer Council announced that carcinogens such as glycidol and acrylamide were detected in 60 types of biscuits and crackers sold in Hong Kong. Hup Seng cream crackers were included in this list. Acrylamide is a probable carcinogen that naturally forms when carbohydrate-rich foods are heated or cooked at temperatures above 120 degrees Celsius.
In response, Hup Seng clarified over the past weekend that the cream crackers produced and sold in Malaysia are safe for consumption and comply with local food safety standards. The company also stated it would actively cooperate with any necessary investigations.
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The Food Safety and Quality Management Division of the Malaysian Ministry of Health is also conducting an investigation. They explained, "The Hup Seng factory holds HACCP certification and a certificate from the Malaysian Ministry of Health (KKN)."
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