KUALA LUMPUR: GISB Travel & Tours Sdn Bhd is among 81 companies that may face financial penalties for allegedly participating in a price-fixing agreement for umrah travel services in Malaysia from early 2023.
Malaysia Competition Commission (MyCC) chairman Datuk Seri Mohd Hishamudin Yunus said, in a statement Monday (Sept 30), that a proposed decision has been issued against all the involved companies.
He noted that the cartel activities of these 81 companies could be considered a violation under Section 4 of the Competition Act 2010 (Act 712).
"Through an investigation at the proposed decision stage, MyCC found that all these companies, which are members of a registered association in Malaysia, had agreed to set a floor price for both economy and premium umrah packages during several meetings in early 2023.
"MyCC also found that the association involved had made an announcement to the media to inform the public about the agreed floor prices," he said in the statement.
Mohd Hishamudin emphasised that the proposed decision issued by MyCC is an initial finding.
Therefore, he said, it cannot be assumed at this stage that any of the named companies have violated Act 712.
"As provided by the Act, all companies named in this proposed decision have been notified of the financial penalties proposed by MyCC," he said.
Mohd Hishamudin added that these companies are given the opportunity to submit written representations to MyCC within 30 days of receiving the proposed decision.
After that, he said, the same companies will also be given the opportunity to present their oral representations to the Commission on a date to be determined later.
"MyCC will only issue a final decision after considering the representations by these companies along with evidence obtained during the investigation process," he said.
