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Malaysia: Fuel price hikes earn MyCC warning

 |  September 11, 2013

The Malaysia Competition Commission made a statement Wednesday warning fuel companies of the influx of complaints and enquiries regarding the recent price hikes of gas, warning firms that the MyCC is not afraid to take action against anticompetitive practices, including price-fixing.

While the MyCC said it had “no role” in gatekeeping prices, but assured that if such price hikes were the result of collusion, it would be considered a violation of the nation’s competition law.

The watchdog can impose a fine of up to 10 percent of annual turnover should it find a company fixed prices.

Full Content: New Straits Times

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