No more price fixing: Sand operators of four districts in Kelantan make an 'Aku Janji'

KUALA LUMPUR: The Malaysia Competition Commission, (MyCC) has accepted an 'Aku Janji' from a group of sand operators in Kota Bharu, Pasir Mas, Tanah Merah and Machang districts in Kelantan, regarding the alleged fixing of sand prices.
MyCC Chief Executive Officer Datuk Abu Samah Shabudin said the sand operators involved have pledged to rescind the issued price list of sand dated 10 January 2017, terminate any other anti-competitive behaviour in relation to the price list as well as issue a press release of their 'Aku Janji' in major newspapers.
"Price fixing is prohibited under Section 4(2)(a) of the Competition Act 2010 (Act) as it reduces competition in the market, resulting in higher prices paid by the consumer.
This and other anti-competitive behaviours which harm consumer welfare is the main focus of the MyCC as the regulator of competition law in Malaysia," he said in a press statement, here today.
He said any price cartel is prohibited under the Act as it hinders efficiency, innovation and entrepreneurship and thereby consumers will not enjoy competitive pricing and choices.
"Therefore, the MyCC will not hesitate to take action against any cartel to protect the consumers of Malaysia," said Abu Samah.
He also urged the public with any information on possible cartels or anti-competitive behaviours, to come forward.
Established in June 2011, MyCC is an independent body responsible for enforcing the Competition Act 2010, which was implemented to create healthy competition which would in turn stimulate productivity and innovation, thus creating wider choices of products for consumers, with better quality, at reasonable prices.
The Act applies to all commercial activities undertaken within and outside Malaysia that affect competition in the Malaysian market.
It provides a regulatory framework including powers to investigate, adjudicate and impose penalties on the perpetrators of anti-competitive practices or conduct under the competition laws. For more information on the Act and the MyCC's activities, log on to www.mycc.gov.my. — Bernama