KUALA LUMPUR, June 19 (Bernama) -- The Malaysia Competition Commission (MyCC) has received seven official complaints in respect of suspected anti-competitive practices by the business sector.
Of the seven, two are from consumer groups and the rest from enterprises affected by suspected anti-competitive conduct by other businesses.
"This is a positive indication that both consumers and traders are aware of the Competition Act 2010 and the MyCC's role in enforcing the legislation.
"The MyCC has to date initiated two investigations against companies for potential infringement of Section 4 of the Competition Act 2010," said MyCC's Chief Executive Officer, Shila Dorai Raj in a statement today.
If it is established that there was an infringement, the companies could be imposed a financial penalty of 10 per cent of the worldwide turnover over the period, during which the infringement occurred.
Two other complaints are being assessed to determine if the information provided meets the legal threshold for the MyCC to act upon.
"We hope complainants when lodging complaints will provide details of the alleged infringement. All complaints received are treated with strict confidentiality," Shila added.
Complaints can be lodged by filling in the form available at the MyCC website at www.mycc.gov.my