KUALA LUMPUR: The Malaysian Competition Commission (MyCC) has fined eight companies a total of RM1.94 million in penalties for bid rigging through ten...
: The Malaysian Competition Commission has fined eight companies a total of RM1.94 million in penalties for bid rigging through tenders offered by the National Academy of Arts, Culture and Heritage .
MyCC chief executive officer Iskandar Ismail said investigations found that the companies colluded to share tenders, prepare documents with one another and manipulated the price in the tenders, apart from the winner of the tender sharing profits with the losing bidder. “There were bid rigging for three quotations and one tender offered by Aswara and in each bid, the companies formed secret pact or cartels among them.
“Their action is detrimental to the government and strict action needs to be taken ... a clear example is that the government actually needed to spend RM100 million for one contract, but because of the bid rigging, the government had to pay RM150 million, thus incurring a loss of RM50 million,“ he told a press conference here today.
He said bid rigging is a serious offence under the Competition Act 2010 and urged those with information on it to report the matter. —
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