PETALING JAYA: The Malaysian Competition Commission (MyCC) says it is aware of the various issues surrounding the supply and sale of sugar within the market, especially hoarding.
It said there were also practices of conditional sale and refusal to supply by certain players in the market.
"These practices are now being monitored closely and MyCC is committed to taking appropriate action to safeguard competition in the market, which includes protecting the interest of customers," said MyCC chief executive officer Iskandar Ismail in a statement on Wednesday (June 7).
MyCC urged all players in the sugar industry, from downstream to upstream, not excluding producers and wholesalers to re-evaluate their conduct or policies to ensure their activities are in line with the relevant laws, especially the Competition Act 2010.
"The commission emphasised that imposing conditions such as tying or bundling to the supply and/or sale of sugar by any major player at any level of the market is also considered an infringement under Section 10(2)(e) of the Act.
"Additionally, it is prohibited under Section 10(2)(c) of the CA 2010 for any significant players within the sugar market to refuse supply or sale on purpose to any buyers," he said.
MyCC added that all these practices are prohibited and can attract penalties of up to 10% of the players worldwide turnover.
"It is pertinent to note that MyCC possesses the authority to impose financial penalties independently, not withstanding any enforcement actions imposed under other relevant laws enforced by the Domestic Trade and Cost of Living Ministry (KPDN), such as the Control of Supply Act 1961.
"We are now working closely with KPDN to ensure the market is free from any distortion for the sake of the consumers.
"Consumers can trust MyCC's commitment to enforcing the Act in order to maintain a level playing field within the sugar industry," added Iskandar.
