MyCC warns against price fixing

The Malaysia Competition Commission (MyCC) may impose a financial penalty or take any other direction that it considers appropriate to ensure future compliance by associations and business enterprises.

In a statement today, MyCC said in the wake of the recent fuel price increase, it has been receiving enquiries and complaints concerning the role of associations in facilitating anti-competitive behaviour, in particular price fixing by its members.

MyCC said the price increases by themselves were not anti-competitive in nature.

"The commission has no role in policing price increases but if the price increases were a result of collusion through price-fixing agreeemnts by any associations or any groups or sellers, suppliers or manufacturers, those are considered a contravention of Section 4 of the Competition Act 2010," it said.

Section 4 of the Act prohibits enterprises, including associations, from fixing, directly or indirectly a purchase or selling price or any other trading conditions for goods and services, it said.

MyCC said it may impose a financial penalty not more than 10% of the worldwide turnover of the enterprises over the period of the infringement, or impose any other direction that it considers appropriate to ensure future compliance by associations and business enterprises. - Bernama