PETALING JAYA: The Malaysia Competition Commission (MyCC) has dedicated a significant number of resources to enforce the Competition Act following the implementation of targeted diesel subsidies in Peninsular Malaysia.
Its chief executive officer Iskandar Ismail said that MyCC would act against those who retaliate through economic sabotage behaviours and called on the public to report those who commit such acts. Iskandar said, following the announcement on the implementation of targeted diesel subsidies, the commission remained committed to ensuring competitive market practices.
MyCC is working with the Finance Ministry and Domestic Trade and Cost of Living Ministry in getting access to data that would allow it to detect and respond to signs of market distortion, particularly cartel activities.
“While we acknowledge the existence of competition in the relevant markets, we will continue to closely monitor any signs of anti-competitive behaviour,” he said, adding that the commission would act without fear or favour against those showing signs of preventing, restricting or distorting competition in any market for goods or services.
