MyCC says merger doesn’t need its clearance

MyCC’s stance: Iskandar says the company will be under MyCC’s purview if it starts abusing its dominant position in the market.

WHILE there have been concerns that YTL Cement Bhd’s acquisition of Lafarge Malaysia Bhd may breach competition laws in the country, the competition watchdog says that it is not in a position to stop such mergers and acquisitions (M&As) from taking place.

The Malaysia Competition Commission (MyCC) chief executive officer, Iskandar Ismail, says to date, the provision of M&As has yet to be inserted into the Competition Act 2010 (CA 2010).