KUALA LUMPUR, June 19 (Bernama) -- In light of the recent issue on the cement price hike announcements, the Malaysia Competition Commission (“the Commission”) will focus its efforts to consistently monitor the cement industry in order to complement the Government’s initiative in protecting the welfare of the consumers.

“The Ministry of Domestic Trade and Consumer Affairs (“MDTCA”) has called for a meeting with the cement industry players yesterday. We are currently working closely with the Ministry to provide our input and will further assess the matter under the provisions of the Competition Act 2010 if necessary,” said Iskandar Ismail, Chief Executive Officer of the Commission.

While the Commission has taken note of the price increase notices that have been issued by the cement and ready mixed concrete players, the Commission also took cognizance of the effect of the recent merger between YTL and Lafarge which has led to the market being more concentrated at the upstream and downstream level.

Section 4 and Section 10 of CA 2010 clearly prohibits enterprises from entering into any anti-competitive agreement and abusing their dominant position in the market, respectively. The Commission strongly believes in promoting and protecting the process of competition and urge members of the public to lodge their complaints with the Malaysia Competition Commission at complaints@mycc.gov.my should they encounter any suspicious conduct in the cement industry. 

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About Malaysia Competition Commission (MyCC)

Established in June 2011, MyCC is an independent body responsible for enforcing the Competition Act 2010, which was implemented to create healthy competition which would, in turn, stimulate productivity and innovation, thus creating wider choices of products for consumers with better quality and reasonable prices.

The Act applies to all commercial activities undertaken within and outside of Malaysia that affect competition in the Malaysian market. It provides a regulatory framework including powers to investigate, adjudicate and impose penalties on the perpetrators of the competition laws.

For more information on the Act and MyCC activities, log on to www.mycc.gov.my. 

Source: Malaysia Competition Commission (MyCC)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Noorliza Abdul Latiff
Communication and Advocacy Division
Malaysia Competition Commission
Tel: +603 2273 2277 (ext 111)
Email:noorliza@mycc.gov.my

--BERNAMA