Bernas, Puspakom, Pharmaniaga, MyEG under review by government

The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) - a unit of Malaysia's Berjaya Corporation Bhd - told Reuters that if the ruling was upheld, she had little hope of recouping her bank's $10 million from the perpetrator, who was sentenced to life imprisonment. "We can't afford to lose the case. This represents 70 percent of our capital. Our business may get suspended," Josephine Yei said in an interview.

KUALA LUMPUR: Padiberas Nasional Bhd (Bernas), Puspakom, Pharmaniaga Bhd and MyEG Services Bhd have been identified as monopolies and are currently being reviewed by the government, according to Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.

He said a special task force had been set up to study the monopoly of some businesses and services that could have contributed to the high cost of living in the country.

“A lot of sources are being controlled by some individuals and big companies. The government is looking for ways to spur businesses towards healthy competition in the market,” Saifuddin said at the MIDF Group luncheon talk on the rising cost of living on Wednesday.

He said the task force would make recommendations on the four companies to Cabinet.