tiprankstipranks
Advertisement
Advertisement

Leong Guan Avoids MUIS Enforcement Over Past Halal Labelling Lapses

Story Highlights
  • Leong Guan admitted past halal labelling lapses tied to delayed certificate renewals at two key subsidiaries.
  • MUIS will not pursue enforcement but requires stricter controls, monitoring and staff training on halal compliance.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Leong Guan Avoids MUIS Enforcement Over Past Halal Labelling Lapses

Claim 55% Off TipRanks

Leong Guan Holdings Ltd. ( (SG:LGH) ) just unveiled an announcement.

Leong Guan Holdings has updated shareholders on past non-compliances with Singapore’s Administration of Muslim Law Act, arising from delays in renewing halal certificates for its subsidiaries LG Bean Manufacturer and Leong Guan Food Manufacturer, during which some products continued to be sold bearing halal logos while renewal applications were pending. The company disclosed that the Islamic Religious Council of Singapore (MUIS) will not take enforcement action, citing Leong Guan’s voluntary disclosure, absence of substantive halal compliance issues and implementation of remedial measures, but has imposed strict ongoing conditions including adherence to certification validity, tighter manufacturing and labelling controls, enhanced internal monitoring, and comprehensive staff training to prevent future lapses.

More about Leong Guan Holdings Ltd.

Leong Guan Holdings Limited is a Singapore-based food manufacturing group whose subsidiaries include LG Bean Manufacturer and Leong Guan Food Manufacturer, producing halal-certified food products for the local market. The group’s operations are closely tied to maintaining halal certification standards, given their reliance on Muslim consumers and halal-compliant manufacturing and labelling processes.

Average Trading Volume: 904,150

For a thorough assessment of LGH stock, go to TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1