MyCC warns MyEG over non-payment of penalty for abusing position

This article first appeared in The Edge Financial Daily, on February 11, 2019.
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KUALA LUMPUR: The Malaysia Competition Commission (MyCC) has issued a warning to MyEG Services Bhd over its non-compliance of an order to pay a penalty — accumulated to RM9.46 million to date — for abusing its dominant position.

In a statement last Friday, MyCC said upon the dismissal of MyEG’s judicial review application by the High Court on Jan 22, MyCC then instructed its solicitors to demand compliance with the remedial orders as set out in paragraphs 58 (iii) and 58 (iv) of the Competition Appeal Tribunal (CAT) decision and for the payment of the daily penalty.

The order is a demand for penalty of RM9.34 million, comprising a financial penalty of RM307,200 and daily penalties from Oct 7, 2015 to Jan 22, 2019 amounting to RM9.03 million.

“The daily penalty of RM7,500 will continue to accumulate until MyEG’s compliance with the directives imposed by the CAT in paragraph 58 of the CAT decision,” MyCC said.

MyCC is the primary competition authority safeguarding the competition process in Malaysia. It is empowered by the Competition Act 2010 to investigate any abuse by dominant players or monopoly in the market.

MyCC said it is prepared to take all actions necessary to ensure MyEG’s compliance with the directives.