Malaysia's competition law, policy moving in right direction - MyCC

KUALA LUMPUR, Sept 22 (Bernama) -- The development of competition law and policy in Malaysia is headed in the right direction, said the Malaysia Competition Commission (MyCC).

Chief executive officer Iskandar Ismail said it is heartening to see all sector regulators joining hands together to provide the platform for competition law to be considered in the issuance of any industrial policy by the respective regulators, which, inevitably, will have a positive impact on Malaysia’s economic growth.

“MyCC values the commitment by the respective sectoral regulators to work together in achieving a competitive economic landscape in the interest of both businesses and consumers in Malaysia,” he said in a statement today.

A Special Committee on Competition convened on Sept 20, 2022, to serve as a platform for key sectoral regulators in the country to discuss competition-related developments and chart the way forward in facilitating the harmonisation of competition provisions in the respective sectoral legislations for the benefit of the markets.

The committee comprises the MyCC, the Malaysian Communications and Multimedia Commission (MCMC), the Energy Commission (EC), the National Water Services Commission, Bank Negara Malaysia, the Securities Commission Malaysia, the Intellectual Property Corporation of Malaysia, the Companies Commission of Malaysia and the Malaysian Aviation Commission

According to MyCC, MAVCOM shared its two recent merger decisions, namely the approved merger between Korean Air Lines Co. Ltd. (Korean Air Lines) and Asiana Airlines Inc. (Asiana Airlines), as well as the anticipated merger between SIA Engineering Company Ltd and Pos Aviation Engineering Services Sdn Bhd in the ground handling sector in July this year.

On the telecommunication front, MCMC highlighted that it has issued a notice of no objection following the conclusion of its substantive assessment of the proposed merger application between Celcom Axiata Bhd and  Digi.Com Bhd, wherein parties will now advance to the next phase of the proposed transaction.

“MCMC further highlighted the positive outcomes arising from the joint effort with MyCC since 2020, in addressing exclusivity arrangements between telecommunications service providers and property developers or building management companies in high-rise buildings including residential complexes following complaints from the public.

“Both parties have decided to take this collaboration a step further by exploring the idea to ink a memorandum of understanding that would be beneficial to both parties and the public at large,” it said.

Meanwhile, the EC briefed on its three key priorities in ensuring energy security, energy equity and environmental sustainability.

“To that end, the EC has embarked on a review of all laws under its jurisdiction to ensure that all legislations are future-proof and in line with competition law and policy.

“This would heighten the competitiveness of industry players that is in line with the aspirations of the country,” it added.

-- BERNAMA