Construction companies that didn’t sign VRP settlement agreement are off the hook | The Citizen

  • 📰 TheCitizen_News
  • ⏱ Reading Time:
  • 78 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 75%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Eight construction companies – were among 15 firms that reached settlement agreements with the Competition Commission. Find out more 📱

The eight companies in the CIDB’s sights for contraventions of its code of conduct were G Liviero & Sons Building, Giuricich Bros Construction, Haw & Englis, Hochtief Solutions, Norvo Construction, Rumdel Construction, Tubular Technical Construction and Vlaming.

Ebrahim Patel, then minister of economic development and now minister of trade, industry and competition, confirmed at a media conference in February 2017 to announce the signing of the VRP by the listed companies, that it was now capable of being extended to other parties.“We will be engaging with the other companies to say to them: ‘This is the framework, you have been implicated and there are still outstanding matters involving you and it would be good for you to come on board.

The commission referred a further 19 cases to the Competition Tribunal for prosecution, two of which resulted in fines. Delatoy Investments agreed to pay a fine of R4.1 million, while GCP was fined R900 000 after being found guilty of engaging in cover pricing. “Such societal organisations, or even individual citizens, might, where warranted, litigate using other avenues – such as the Prevention and Combating of Corrupt Activities Act [Precca] and Prevention of Organised Crime Act [Poca], because collusion is not only anti-competitive, it is also organised crime – and make a case to National Treasury to blacklist convicted offenders from public procurement for a period of time.

He said the majority of Safcec members are committed to these codes, because they are constantly reminded of them as part of the self-regulatory mechanism in line with Safcec’s continuous commitment to promoting the image of SA’s civil engineering construction industry.In terms of the VRP settlement agreement, the seven listed construction companies agreed to:

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 6. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Construction companies that didn’t sign VRP settlement agreement are off the hookEight construction companies off the hook from CIDB disciplinary action, for 2010 infrastructure bid-rigging, price fixing and collusion. Moneyweb PriceFixing
출처: Moneyweb - 🏆 5. / 77 더 많은 것을 읽으십시오 »