Thursday, 21 September 2017
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malaysia - Competition Law - News

MyCC grants Conditional Block Exemption for Liner Shipping Agreements

KUALA LUMPUR, June 21 (Bernama) - The Malaysia Competition Commission (MyCC) has decided to grant a block exemption for liner shipping agreements for vessel-sharing agreements (VSAs) and voluntary discussion agreements (VDAs) within Malaysia or effecting on liner shipping services in Malaysia. In a statement today, MyCC said, the exemption was ...
Date: 21 June 2017; Type: Legal News; Source: Bernama

MyCC to raise Private, Public Sectors Awareness of Bid Rigging

KUALA LUMPUR, May 23 (Bernama) - The Malaysia Competition Commission (MyCC) remains focus on raising the awareness of stakeholders in both the private and public sectors, as well as educating them about the implications of bid rigging and enforcing the Competition Act 2010.
Date: 23 May 2017; Type: Legal News; Source: Bernama

MyCC proposes Renewal of Block Exemption Order for Liner Shipping Agreements for Another Two Years

KUALA LUMPUR, May 12 (Bernama) - The Malaysia Competition Commission (MyCC) is proposing to renew the block exemption order (BEO) for the vessel sharing agreements (VSA) and voluntary discussion agreements (VDA) in respect of liner shipping services for another two years.
Date: 12 May 2017; Type: Legal News; Source: Bernama

SSM offers 70 per cent Discount to Companies to settle Compounds

KUALA LUMPUR, April 17 (Bernama) - The Companies Commission of Malaysia (SSM) is offering 70 per cent discount for compounds imposed on companies and company directors, beginning today until May 17, 2017.
Date: 17 April 2017; Type: Legal News; Source: Bernama

Competition Appeal Tribunal dismisses Appeal of Prompt Dynamics

KUALA LUMPUR, 3 March 2017 - The Competition Appeal Tribunal (CAT) dismissed the appeal brought by Prompt Dynamics Sdn Bhd (the Applellant), one of the container depot operators found by the Malaysia Competition Commission (MyCC) for engaging in price-cartel activities which infringed Section 4(2)(a) of the Competition Act 2010 (the Act). The ...
Date: 03 March 2017; Type: Legal News; Source: Competition Commission

PIAM, Members given a Month to provide Evidence on Non-infringement of Competition Act

PETALING JAYA, March 6 (Bernama) - The General Insurance Association of Malaysia (PIAM) and its 22 members have been given a month to forward evidence proving that they had not breached Section 4 of the Competition Act 2010. This is against the backdrop of the MyCC recently imposing a RM213.4 million penalty on PIAM and the 22 local general in ...
Date: 06 March 2017; Type: Legal News; Source: Bernama

MyCC successfully sends Strong Signal to Business Community - Hamzah

KUALA LUMPUR, March 6 (Bernama) - The Malaysia Competition Commission (MyCC) has made its mark in sending strong signals to the Malaysian business community on the importance of their obligations and compliance as contained under the Competition Act 2010.
Date: 06 March 2017; Type: Legal News; Source: Bernama

PIAM hopes MyCC will reconsider Proposed Decision, Penalty

KUALA LUMPUR, March 1 (Bernama) - The General Insurance Association of Malaysia (PIAM) hopes the Malaysia Competition Commission (MyCC) will reconsider its proposed decision and the imposition of the financial penalty against PIAM and its 22 members.
Date: 01 March 2017; Type: Legal News; Source: Bernama

MyCC's Proposed Decision against PIAM will impact Consumer Interest, says BNM

KUALA LUMPUR, March 1 (Bernama) - The Malaysia Competition Commission's (MyCC) proposed decision against the General Insurance Association of Malaysia (PIAM) will severely impact consumer interest, says Bank Negara Malaysia (BNM).
Date: 01 March 2017; Type: Legal News; Source: Bernama

MyCC issues Proposed Decision against PIAM and 22 Members

KUALA LUMPUR, Feb 28 (Bernama) - Malaysia Competition Commission (MyCC) has issued a proposed decision against the General Insurance Association of Malaysia (PIAM) and 22 of its members for being parties to an anti-competitive agreement, Chief Executive Officer Datuk Abu Samah Shabudin said. MyCC said the parties fixed the parts trade discount ...
Date: 28 February 2017; Type: Legal News; Source: Bernama

Industry Updates

Budget 2018: 13,837 Ideas, Proposals from the Public received

KUALA LUMPUR, Sept 20 (Bernama) - Datuk Seri Najib Tun Razak said today that 13,837 ideas and proposals were received through the Budget 2018 'crowdsourcing' campaign carried out for 15 days from Sept 4 to 18.

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Malaysia-Thailand to ink MoU on Security Cooperation

BANGKOK, Sept 20 (Bernama) - There will be closer security cooperation between Malaysia and Thailand with the establishment of a Joint Committee on Security Cooperation, according to a cabinet resolution document released by the Thai government.

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EPF to boost Investments in Shariah-Compliant Private Equity Funds

KUALA LUMPUR, Sept 19 (Bernama) - The Employees Provident Fund (EPF) is prepared to increase its investments in shariah-compliant private equity (PE) funds, said its Investment Deputy Chief Executive Officer, Datuk Mohamad Nasir Ab Latif.

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BNM seeks More Focused Delivery of Mandates under Malaysian Development Financial Institutions

KUALA LUMPUR, Sept 19 (Bernama) - Bank Negara Malaysia (BNM) is planning to work with the leadership of local financial institutions and other stakeholders in government to address a more focused delivery of mandates under the Malaysian Development Financial Institutions.

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Renewal Application for Special Scheme expiring 31st March 2018 onwards

Renewal application shall be made six months prior to the expiry date and must be submitted two months before the expiry date​.

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MTUC urges Local Authorities to take Stern Action against Illegal Premises

BUTTERWORTH, Sept 18 (Bernama) - The Malaysian Trades Union Congress (MTUC) has called on local authorities to take strict legal action against illegal buildings or premises, particularly educational institutions.

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ASEAN enhances Coordination to tackle Cyber Threats

SINGAPORE, Sept 18 (Bernama) - ASEAN member states have agreed on the importance of enhancing coordination to ensure that its cybersecurity efforts across various platforms in countering increasingly sophisticated cyber threats are focused, effective and in synergy with one another.

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UPNM Cadet Murder Case transferred to High Court

KUALA LUMPUR, Sept 15 (Bernama) - The case involving six Universiti Pertahanan Nasional Malaysia (UPNM) students who are accused of murdering their fellow Navy cadet officer Zulfarhan Osman Zulkarnain and other related charges has been transferred to the High Court.

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Mega Malaysia-US Trade Deals to be positive in the Medium to Long-term

KUALA LUMPUR, Sept 15 (Bernama) - Mega bilateral trade deals concluded between Malaysia and the United States (US) during Prime Minister Datuk Seri Najib Tun Razak's just-concluded visit to the latter is poised to be very positive for the country's economy in the medium- to-long-term, says an economist.

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Mida approves RM1.3 Bln DISF Grant till July 2017

SUNGAI PETANI, Sept 14 (Bernama) - The Malaysian Investment Development Authority (Mida) has approved grants totalling RM1.3 billion under the Domestic Investment Strategic Fund (DISF) since the fund was established in July 2012 until July this year.

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SC establishes Fintech Cooperation with Three Financial Centres

KUALA LUMPUR, Sept 14 (Bernama) - The Securities Commission Malaysia (SC) has signed a series of innovation cooperation agreements with three regulators in major financial centres, in a move to spur greater cooperation in facilitating and regulating innovations emerging within the digital finance industry.

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CIDB wants Governement to cut Machinery Taxes in Budget 2018

KUALA LUMPUR, Sept 14 (Bernama) - The Construction Industry Development Board (CIDB) has asked the government to reduce taxes for construction machinery for the Industrialised Building System (IBS) projects to between five and zero per cent in Budget 2018.

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