Latest news with #CompetitionAct2010
The Star
3 days ago
- Business
- The Star
MYCC to hold second public consultation on digital economy study next week
KUALA LUMPUR: The Malaysia Competition Commission (MyCC) will have a public consultation for the draft final report on the Digital Economy Ecosystem Market Review on Tuesday, Aug 19, 2025, between 8.30am and 2pm, at Asian Institute of Chartered Bankers (AICB) Centre of Excellence here. In a statement today, MyCC said the initiative is conducted under section 11 of the Competition Act 2010 [Act 712], marking a pivotal development in MyCC's ongoing efforts to enhance competitive practices within Malaysia's dynamic digital ecosystem. It said the comprehensive market review evaluates potential barriers to effective competition across five key strategic sectors - mobile operating and payment systems, e-commerce (retail marketplace), digital advertising services, online travel agencies, and data privacy and protection (cross-cutting theme). "Following an extensive stakeholder engagement process which include focus groups, interviews with government agencies, industry players and associations, along with written submissions received during the public consultation on the interim report, MyCC has identified critical issues across market structure, competition and regulation. "These insights have shaped a comprehensive set of proposed recommendations that will be shared with relevant regulatory bodies for their consideration," it said. MyCC urged all relevant industry players including businesses and associations to attend and contribute at the public consultation session. "Participation is free of charge and interested parties are strongly encouraged to register by Aug, 18, 2025 to secure their seats," it said. The registration link: For more information, please visit or contact the secretariat; Competition Economics Division (CED) at ced-digitalmr@ or call +603-3009 3009. - Bernama
Barnama
3 days ago
- Business
- Barnama
MyCC To Hold Second Public Consultation On Digital Economy Study Next Week
KUALA LUMPUR, Aug 13 (Bernama) -- The Malaysia Competition Commission (MyCC) will have a public consultation for the draft final report on the Digital Economy Ecosystem Market Review on Tuesday, Aug 19, 2025, between 8.30am and 2pm, at Asian Institute of Chartered Bankers (AICB) Centre of Excellence here. In a statement today, MyCC said the initiative is conducted under section 11 of the Competition Act 2010 (Act 712), marking a pivotal development in MyCC's ongoing efforts to enhance competitive practices within Malaysia's dynamic digital ecosystem. It said the comprehensive market review evaluates potential barriers to effective competition across five key strategic sectors – mobile operating and payment systems, e-commerce (retail marketplace), digital advertising services, online travel agencies, and data privacy and protection (cross-cutting theme).
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.
Express Tribune
08-07-2025
- Business
- Express Tribune
Merger deals bring $50m foreign investment
Listen to article The Competition Commission of Pakistan (CCP) approved a total of 69 merger and acquisition (M&A) transactions during fiscal year 2024-25, facilitating foreign direct investment (FDI) inflows of approximately $50 million. These transactions spanned diverse sectors including food, finance, logistics, aerospace, media and e-commerce, underscoring the CCP's critical role in promoting fair competition and enhancing investor confidence in Pakistan's economy, according to a statement issued on Tuesday. Prominent FDI transactions included a joint venture between National Logistics Corporation (NLC) and DP World Logistics, facilitated by the Special Investment Facilitation Council (SIFC), and the acquisition of Wemsol by Bazaar Technologies in the e-commerce sector. In agribusiness, Italy's Euricom acquired 50% of Fatima Euricom Rice Mills. The media sector saw Berkeley Square Holding acquire a 50% stake in Ogilvy & Mather, Mindshare and Soho Square Pakistan. Additionally, Saudi firm Wakeb Data Company acquired an 80% stake in drone technology company Woot Tech. In addition to foreign investment transactions, the CCP approved 64 domestic M&A deals across sectors such as retail, services, logistics, energy, food and manufacturing. Sector-wise, 25 transactions were made in the industrial and manufacturing category, 14 in energy and power, 13 in services, 11 in financial services, five in consumer goods and retail and one in real estate. Major domestic transactions included Asyad Holding's acquisition of 77.42% shares in Shell Pakistan via UAE-based Wafi Energy, marking a key move in the energy sector. Alfalah Asset Management took over fund management rights from Faysal Asset Management while Sapphire Fibres and Mindbridge jointly acquired Uch Power and Uch-II Power. Other notable domestic transactions were PPR Holding acquiring full ownership of SadaPay Technologies, Nimir Industrial Chemicals acquiring assets of Procter & Gamble Pakistan, Naubahar Bottling Company acquiring bottling assets of JK Sugar Mills and the merger of DWP Engineering Industries with Digital World Pakistan. Additionally, during FY25, the CCP granted 38 conditional and time-bound exemptions under the Competition Act 2010. These exemptions were given across sectors like automotive, pharmaceuticals, consumer goods, food & beverages, energy, logistics, telecommunications, banking & finance, tobacco, aviation and packaging.
The Sun
08-07-2025
- Business
- The Sun
RM2.98 mln penalty for bid-rigging cartel in Putrajaya tenders
KUALA LUMPUR: The Malaysia Competition Commission (MyCC) has imposed a total penalty of RM2.98 million on three companies for participating in a bid-rigging cartel involving maintenance work tenders in Putrajaya. The companies penalised are Abadi Malaysia Sdn Bhd, Kota Landskap Sdn Bhd, and Usia Maintenance Sdn Bhd. The cartel activities involved six tenders issued by Perbadanan Putrajaya (PPj) between 2018 and 2021, valued at nearly RM45 million. MyCC found the companies violated Section 4 of the Competition Act 2010 (Act 712) by coordinating bids through WhatsApp, email, and meetings. MyCC CEO Datuk Iskandar Ismail revealed that Abadi Malaysia acted as the coordinator, with tender documents prepared jointly by employees of all three companies at a single location. Evidence showed centralised document handling at Kota Landskap's premises. Investigations uncovered family and friendship ties among company directors, though no PPj officials were implicated. Usia Maintenance and Abadi Malaysia each won two tenders but were penalised for collusion in all six projects. Kota Landskap was found guilty for involvement in every tender submission. MyCC issued a Proposed Decision in September 2024 and reviewed company representations before finalising the penalty. Iskandar urged businesses to compete ethically, warning against collusion in procurement processes. The commission is currently investigating 14 other cases involving over 500 companies and RM2.3 billion in tenders. - Bernama
