THE Malaysian Competition Commission (MyCC) announced today plans to intensify enforcement against bid-rigging cartels as it hosted the MyCC Competition Summit 2025 at Sunway Pyramid Convention Centre.
The summit emphasised the crucial role of governance in promoting healthy competition and ensuring sustainable market integrity. Key discussions focused on combatting bid-rigging cartels and enhancing governance in mergers and acquisitions through improved regulatory regimes.
MyCC highlighted recent enforcement efforts, revealing that 26 companies have been found in breach of bid-rigging regulations involving RM540.72 million in tenders, resulting in financial penalties totaling RM97.3 million.
Currently, 14 bid-rigging investigations are underway, involving 563 companies and tenders valued at RM2.7 billion.
The commission plans to strengthen collaboration with government agencies involved in public procurement, coordinated through the Ministry of Domestic Trade and Cost of Living (KPDN), by signing Letters of Understanding with 16 ministries to ensure fair and transparent competition in government contracts.
The summit also witnessed the signing of two Memoranda of Understanding. One formalises collaboration between MyCC and the Philippine Competition Commission (PCC), and the other establishes a partnership with SME Corporation Malaysia.
These agreements will support information exchange, advocacy, training programmes, research, and the sharing of best practices, as well as facilitate regular dialogues to enhance understanding and coordination on competition policies at both national and regional levels.
Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said these initiatives will reinforce a more competitive and sustainable market environment across Malaysia and the region.
Themed “Strengthening Competition Through the ‘G’ in ESG for a Sustainable Future,” the summit brought together nearly 500 participants, including policymakers, regulators, academics, and industry experts from Malaysia and abroad.
Prime international speakers included representatives from the Turkish Competition Authority (TCA), Korea Fair Trade Commission (KFTC), Hong Kong Competition Commission (HKCC), and the Organisation for Economic Co-operation and Development (OECD). Local panelists represented the Ministry of Finance, PETRONAS, Khazanah Nasional Berhad, Bursa Malaysia, SME Corporation Malaysia, and Bank Negara Malaysia. -October 30, 2025
