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MyCC slaps fines on seven companies for bid-rigging cartel

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Mycc,Bid-Rigging,Cartel

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PETALING JAYA: The Malaysia Competition Commission has fined seven companies a combined sum of RM446,092.95 for participating in a bid-rigging cartel involving tenders from the Defence Ministry between 2017 and 2020.The companies involved include Agenda Eksklusif Sdn Bhd , Star Apex Enterprise , Nekad Waja Resources , Spectron Sdn Bhd , Teknokrat Makmur Enterprise , Prospectrum Sdn Bhd , and NK Panorama Enterprise .

AESB was identified as the key player in one of the cartels, actively orchestrating the bidding strategies in all four tenders.SAE was fined RM109,701.11, and SSB, RM43,889.92, while the remaining companies were given smaller fines. MyCC chief executive officer Iskandar Ismail said that bid-rigging cartels have long undermined public procurement, wasting public funds.

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