MyCC Chief Executive Officer Dr Mohd Khalid Abdul Samad said while price hikes on their own are not anti-competitive in nature, price hikes which result from collusion through price fixing agreements by any association or group of sellers, suppliers or manufacturers could be investigated under Section 4 of the Competition Act 2010.
“We take note of PPIM’s concerns on the possibility of traders colluding to fix high prices, and look forward to collaborating with PPIM on gaining leads regarding such cases at the grassroots level,” he said in a statement here today.
PPIM Chief Activist Datuk Nadzim Johan said the consumer watchdog is always at the forefront in championing issues to help the public.
“I look forward to working even more effectively with the MyCC on unearthing any anti-competitive conduct by traders that burdens consumers,” he added.
Section 4 of the Competition Act 2010 prohibits enterprises, including associations, from directly or indirectly fixing a selling price or any other trading condition for goods and services.
The Commission may impose a financial penalty which is not more than 10 per cent of the worldwide turnover of the enterprise over the period of the infringement, or impose any other direction that it considers appropriate to ensure future compliance by associations and business enterprises.
Anyone with information concerning conduct by associations and business enterprises which engage in price fixing activities should contact the MyCC at +603-2273 2277 or vie email at complaints@mycc.gov.my.
— BERNAMA
