MyEG’s penalty reaches RM9.46m

08 Feb 2019 / 17:42 H.

KUALA LUMPUR: The financial penalty imposed on My EG Services Bhd for infringing the Competition Act 210 has accumulated to RM9.46 million to date, revealed the Malaysia Competition Commission (MyCC).

“The daily penalty of RM7,500 will continue to accumulate until compliance by MyEG with the directives imposed by the Competition Appeal Tribunal (CAT) in paragraph 58 of the CAT Decision,“ MyCC said in a statement today.

It said MyEG has continuously been in non-compliance with the decision of the CAT dated Dec 28, 2018 which affirmed MyCC’s decision dated June 24, 2016.

“Upon the dismissal of MyEG’s judicial review application by the High Court on Jan 22, 2019, MyCC has instructed its solicitors to demand compliance with the remedial orders as set out in paragraphs 58 (iii) and 58 (iv) of the CAT decision and for the payment of the daily penalty.”

On Jan 24, MyEG said it will appeal the RM9.34 million penalty imposed by MyCC because it has already conformed to the changes required by the anti-competition watchdog.

MyCC had slapped the penalty on MyEG for abusing its dominant position in the provision of services related to online foreign worker permit renewals.

“MyCC is prepared to take all actions deemed necessary to ensure MyEG’s compliance with the directives.”

MyCC is the primary competition authority responsible for safeguarding the competition process in Malaysia. It is empowered by the Competition Act 2010 to investigate any abuse by dominant players or monopoly in the market.

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 the competition laws.

email blast