MyCC probing 563 firms for suspected cartel activities
The Malaysia Competition Commission (MyCC) is investigating 563 companies suspected of involvement in trade cartels, with a particular focus on an alleged RM2.66 billion public procurement bid-rigging scheme, says the domestic trade and cost of living ministry.
However, the ministry did not provide a timeline for the current investigations, nor did it disclose which sectors the 563 companies operate in or details regarding the alleged RM2.66 billion bid-rigging scheme.
Minister Armizan Mohd Ali also said that since 2012, the commission has imposed nearly RM648 million in penalties on 265 companies found guilty of being part of trade cartels.
“All MyCC decisions regarding the aforementioned cases, including the RM647.9 million in financial penalties, are published on the MyCC website for public viewing, in line with the requirements of the Competition Act 2010,…
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