MyCC warns against price fixing

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

In a statement on Wednesday, 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 agreements 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 prohibited 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 said it may impose a financial penalty not more than 10 per cent 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.