Acting domestic trade and cost of living minister Armizan Ali said MyCC was currently investigating over 430 companies suspected of engaging in cartel activities.
“Approximately 250 companies have been fined more than RM150 million by MyCC,” acting domestic trade and cost of living minister Armizan Ali said in a written Dewan Rakyat reply. The companies believed to be involved in cartel activities affect not only the public’s basic needs, but also goods and services that influence the cost of living, he added.
He said with the amendment, any company found guilty of involvement with a cartel could be subject to financial penalties of up to 10% of their company’s total revenues.