MyCC to focus efforts on monitoring cement industry
Last update: 19/06/2019
KUALA LUMPUR, June 19 (Bernama) -- The Malaysia Competition Commission (MyCC) says it will focus its efforts on consistently monitoring the cement industry in order to complement the government’s initiative in protecting the welfare of consumers.
Chief executive officer Iskandar Ismail said the Ministry of Domestic Trade and Consumer Affairs (MDTCA) had called for a meeting with cement industry players yesterday.
In a statement today, he said the commission is currently working closely with the ministry to provide input and will further assess the matter under the provisions of the Competition Act 2010 (CA 2010) if necessary.
While the commission has taken note of the price increase notices that have been issued by the cement and ready mixed concrete players, MyCC said it also took cognisance 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 levels.
“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,” it added.