Stricter Trade Descriptions (Cheap Sale Price) Regulations have been gazetted and enforced on Wednesday, said Domestic Trade, Cooperatives and Consumerism Minister Ismail Sabri Yaakob.

He said the amended regulations compel traders to list the old and new price while items on cheap sale should comprise 70 percent of goods in the premises.

"Traders must also display cheap sale notices and the price list of items at places that can be easily seen," he told reporters at a press conference in Putrajaya today.

Under the regulations, traders holding cheap sales would have to serve the ministry 14 days notice to get registration numbers and must keep records of the price of items six months before the cheap sale dates.

Ismail said they were also not allowed to hold cheap sales 14 days after the last sale ended except for the Malaysia GP Sale, Malaysia Mega Sale Carnival and the Malaysia Year End Sale (M-Yes).

"The sales must not exceed 30 days. Only five sales are allowed annually, the dates of three of which are fixed by the government, while two others can be held on the traders' dates of choice," he added.

Traders who flout the regulations could be fined not more than RM100,000 or three years' jail or both, while second offenders can be fined not more than RM200,000 or six years' jail or both.

Companies can be fined not more than RM250,000 for a first offence and RM500,000 for the second offence.

- Bernama