Court of Appeal upholds ruling on decision against MY EG

MY EG said the Court of Appeal had dismissed the two companies’ appeal against the ruling by the Kuala Lumpur High Court which had affirmed the MyCC’s decision.

KUALA LUMPUR: The Malaysia Competition Commission’s (MyCC) decision and its fine imposed on My E.G. Services Bhd (MYEG) and MY E.G. Commerce Sdn Bhd (MYEC) for violating the competition law was upheld by the Court of Appeal.

In an announcement to Bursa Malaysia on Monday, MY EG said the Court of Appeal had dismissed the two companies’ appeal against the ruling by the Kuala Lumpur High Court which had affirmed the MyCC’s decision.

The two companies were deemed by the MyCC for violating competition law and having a dominant position in relation to the sale of mandatory insurance for online applications of temporary employment permits for foreign workers (Pas Lawatan Kerja Sementara or PLKS).

“There is no financial or operational impact for the financial year ending Dec 31,2021 arising from the above as MYEG and MYEC had paid the fines amounting to RM9.64mil and had fully complied with the decisions made earlier by the MyCC and the Competition Appeal Tribunal (CAT), with the concurrence of MyCC.

“In this respect, the board of directors may file a leave to appeal to the Federal Court to appeal the decision by the Court of Appeal, ” it said.