A PYMNTS Company

Malaysia: MyCC fines five enterprises for price fixing

By  |  June 2, 2016

The Malaysia Competition Commission has imposed a financial penalty of RM645,774 on five enterprises for infringing Section 40 of the Competition Act 2010.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The decision was issued by MyCC against an information technology service provider for the shipping and logistics industry in Penang, Containerchain (M) Sdn Bhd, for engaging in price-cartel activities, involving namely Containerchain (M) Sdn Bhd together with four container depot operators, which are Ayza Industries Sdn Bhd/Ayza Logistics Sdn Bhd, ICS Depot Services Sdn Bhd, E.A.E. Depot & Freight Forwarding Sdn Bhd and Prompt Dynamics Sdn Bhd.

    MyCC said Containerchain and other container depot operators had agreed to increase depot gate charges imposed on their customers from RM5 to RM25 and along with fixing a rebate of RM5 offered to hauliers in respect of the depot gate charges.

    MyCC said the agreement to fix the RM25 depot gate charges together with the RM5 rebate, is deemed to have the object of significantly preventing, restricting or distorting competition in the market for the provision of empty container storage, maintenance and handling services within a five to 15km radius of the Penang Port.

    In the same decision, MyCC also imposed an additional penalty of RM7,000 a day for failure to comply with remedial actions within 30 days from the date of the decision.

    Full Content: The Sun Daily

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.