KUALA LUMPUR: Amendments to the Competition Act 2010 designed to combat cartel activities have reached their final stages and will be presented to Parliament by year-end.
Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali confirmed the impending legislative changes aim to introduce more comprehensive competition legislation covering all industries.
“The 13th Malaysia Plan outlines the centralisation of competition regulation under specific legislation, a step that will involve amending Act 712 and other related laws,” he said during his ministry’s winding-up speech on the 13MP motion in the Dewan Rakyat.
The proposed amendments by the Malaysian Competition Commission will strengthen investigative powers and introduce a merger control regime to prevent market monopolies.
Armizan added that his ministry had noted suggestions to improve detection of cartel activities before procurement processes conclude.
MyCC can initiate investigations through four methods including ex-officio actions or based on information from the public and government agencies.
“During any ongoing investigation, MyCC does not have the power to instruct ministries or government agencies to remove or exclude any bidder from the screening and selection process for suppliers or contractors for a particular tender if they have not yet been proven to have violated Act 712,” he clarified.
Enforcement records show MyCC has identified 270 businesses violating the Competition Act with 268 enterprises involved in cartel activities.
Two companies abused monopoly positions while 26 breached Section 4 for bid-rigging cartels resulting in total fines of RM97.71 million. – Bernama
