PETALING JAYA:The Malaysia Competition Commission (MyCC) has set up a special task force to investigate the chicken and chicken eggs industry for anti-competitive practices.
In a statement on Tuesday (Feb 1), the enforcement agency, which was mandated to oversee competition law, said it supported the decisions of the National Action Council on Cost of Living (NACCOL) Special Meeting that was chaired by Prime Minister Datuk Sri Ismail Sabri Yaakob to resolve the price increase of chicken and chicken eggs issue.
"MyCC will not hesitate to take stern action based on its powers under the Competition Act 2010 towards any party that are involved in economic sabotage and has taken advantage of the plight of the people especially during this pandemic era, by engaging in cartel or abuse of dominant power or monopoly activities in the chicken and/or the chicken egg industry.
"In light of the directives given to the MyCC by the same meeting, the MyCC has set up a special task force to thoroughly investigate the competition related issues in the chicken and chicken eggs industry," said the MyCC.
Parties that are found guilty of transgressing competition law will be subjected to the imposition of maximum penalties and other stern actions, MyCC said.