KUALA LUMPUR: The Malaysia Competition Commission (MyCC) imposed penalties amounting to RM415.5mil on five major chicken producers in Malaysia last year, says Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.
He said that a total of RM1.5mil in financial penalties was also imposed on 15 companies for their involvement in bid-rigging.
"At the same time, the commission has issued three proposed decisions against 92 other companies and one final decision against seven companies based on evidence of their involvement in bid-rigging cartels.
"To date, MyCC continues to investigate over 500 companies suspected of being involved in bid-rigging related to government tenders worth RM2.3 billion," he said in a statement on Thursday (Jan 16).
Meanwhile, Armizan said to better combat cartel activities, the government has allocated RM27mil for the commission under Budget 2025, the highest amount that the independent body has ever received since its establishment in 2011.
According to Armizan, the ministry hosted a competition law symposium today titled "Behind Closed Doors: The Hidden Drivers of Market Distortion” to delve into critical issues related to competition, such as bid-rigging in public procurement, rising food prices, merger control regimes, and the dominance of digital economy players, as part of the efforts to strengthen the commission. - Bernama
