Latest news with #MalaysiaCompetitionCommission
The Star
09-07-2025
- Business
- The Star
MyCC, MAICSA combine efforts to strengthen corporate governance
KUALA LUMPUR: The Malaysia Competition Commission (MyCC) and the Malaysian Institute of Chartered Secretaries and Administrators (MAICSA) have agreed to a strategic collaboration aimed at enhancing awareness and compliance with the Competition Act 2010 as well as strengthening governance practices within the corporate sector. In a statement, MyCC said the partnership reflects the shared commitment of both parties to promote greater understanding and practical application of competition principles and corporate governance best practices among professionals, corporate secretaries and industry players at large. 'This collaboration between MyCC and MAICSA marks a pivotal step in strengthening a culture of compliance and ethical corporate governance. Together, we aim to embed the principles of healthy competition into the fabric of corporate management, driving a more resilient, transparent and competitive business ecosystem in Malaysia,' said Tan Sri Idrus Harun, chairman of MyCC. MAICSA president Datuk Akbar Moidunny added that strong corporate governance must go hand-in-hand with adherence to competition law. "This partnership with MyCC is a timely and strategic initiative that reinforces MAICSA's commitment to promoting not just governance excellence, but also a deeper appreciation of competition compliance as a cornerstone of responsible corporate stewardship,' he added.
New Straits Times
08-07-2025
- Business
- New Straits Times
MyCC fines three companies RM2.98mil for bid rigging
KUALA LUMPUR: The Malaysia Competition Commission (MyCC) has imposed a penalty of RM2.98 million on three enterprises for engaging in bid rigging in six tenders worth RM45 million. The three enterprises are Abadi Malaysia Sdn Bhd, Kota Lanskap Sdn Bhd and Usia Maintenance Sdn Bhd. The tenders involved several projects related to building and facility maintenance, landscaping and civil engineering works in Putrajaya. MyCC chief executive officer Datuk Iskandar Ismail said following a complaint on potential bid rigging, MyCC conducted an assessment and identified nine enterprises suspected in a bid rigging cartel. "As a result of the investigation, MyCC issued a proposed decision to the enterprises on Sept 10 last year and subsequently received their representations on Nov 11 (last year) and March 13 this year. "After thoroughly reviewing these representations, MyCC concluded that the enterprises had infringed the Competition Act," he told a press conference today. He said the bid rigging modus operandi was coordinated by Abadi Malaysia.
The Star
24-05-2025
- Business
- The Star
GPs warned against imposing new charges
PETALING JAYA: Private medical practitioners have been warned not to introduce new service-related charges as it could infringe the Competition Act 2010, says the Malaysia Competition Commission (MyCC). Its chairman Tan Sri Idrus Harun said the commission expressed grave concern over recent reports from multiple media outlets regarding proposals by associations of private medical practitioners in Sarawak, Penang, Selangor and Kuala Lumpur to impose the fees. 'These include additional fees such as prescription charges, registration fees, regulatory compliance charges and facility fees, either already implemented or currently under consideration. 'MyCC firmly maintains that any decision made by associations, including those representing private general practitioners (GPs) to introduce these additional fees, may infringe the Competition Act 2010 (Act 712),' he said in a statement yesterday. Under Section 4(2)(a) of the Act, GPs are considered 'enterprises' and any agreement between enterprises, including the decision by association to set prices or trading conditions may be deemed anti-competitive. 'Such conduct is categorised as a serious infringement. 'It constitutes a breach of the Act regardless of whether it is implemented or simply agreed upon,' Idrus added. He said when associations collectively agree to introduce new charges, such action may be interpreted as an agreement to fix trading conditions. 'Similarly, any recommendation of a price range, regardless of whether it is binding or not, may be regarded as the conduct of price fixing under Section 4 of the Act,' he said. Idrus said the MyCC urged the Society of Private Medical Practitioners Sarawak to retract its advisory issued to members encouraging the implementation of specific new fees. 'MyCC also calls upon the Private Medical Practitioners' Association of Selangor and Kuala Lumpur and the Penang Medical Practitioners Society to refrain from convening meetings or taking any steps that may result in collective decisions to fix fees or introduce uniform charges,' he said, adding that these actions may be considered infringements of the law. Should there be such breaches of the Act, the MyCC may impose a financial penalty of up to 10% of its worldwide turnover for the duration of the infringement.
The Star
23-05-2025
- Business
- The Star
MyCC warns GPs against introducing new charges
PETALING JAYA: Private medical practitioners have been warned not to introduce new service-related charges as it could infringe the Competition Act 2010, says the Malaysia Competition Commission (MyCC). Its chairman Tan Sri Idrus Harun said the commission expressed grave concern over recent reports from multiple media outlets regarding proposals by associations of private medical practitioners in Sarawak, Penang, Selangor and Kuala Lumpur to impose the fees. 'These include additional fees such as prescription charges, registration fees, regulatory compliance charges and facility fees, either already implemented or currently under consideration. 'MyCC firmly maintains that any decision made by associations, including those representing private general practitioners (GPs) to introduce these additional fees, may infringe the Competition Act 2010 (Act 712),' he said in a statement on Friday (May 23). Under Section 4(2)(a) of the Act, GPs are considered 'enterprises' and any agreement between enterprises, including the decision by association to set prices or trading conditions may be deemed anticompetitive. 'Such conduct is categorised as a serious infringement. 'It constitutes a breach of the Act regardless of whether it is implemented or simply agreed upon,' Idrus added. He said when associations collectively agree to introduce new charges, such action may be interpreted as an agreement to fix trading conditions. 'Similarly, any recommendation of a price range, regardless of whether it is binding or not, may be regarded as the conduct of price fixing under Section 4 of the Act,' he said. Idrus said the MyCC urged the Society of Private Medical Practitioners Sarawak to retract its advisory issued to members encouraging the implementation of specific new fees. 'MyCC also calls upon the Private Medical Practitioners' Association of Selangor and Kuala Lumpur and the Penang Medical Practitioners Society to refrain from convening meetings or taking any steps that may result in collective decisions to fix fees or introduce uniform charges,' he said, adding that these actions may be considered infringements of the law. Should there be such breaches of the Act, MyCC may impose a financial penalty of up to 10% of its worldwide turnover for the duration of the infringement. 'The MyCC will not hesitate to investigate and take strict enforcement action against any party engaged in anti-competitive conduct,' Idrus said. He added that the MyCC is closely monitoring this matter and strongly urges all stakeholders, especially those in the healthcare sector, to fully comply with the Act.
