PETALING JAYA: The Kuala Lumpur High Court has upheld the Malaysia Competition Commission’s (MyCC) decision against MYEG Services Bhd and MYEG Commerce Sdn Bhd (collectively referred to as MyEG) for abusing their dominant position.
In dismissing the judicial review application by MyEG, High Court Judge Datuk Azizah Nawawi agreed with the Competition Appeal Tribunal’s findings, which reaffirmed MyCC’s decision.
Earlier, MyCC said MyEG had abused its dominant position by imposing different conditions in equivalent transactions in the purchase of mandatory insurance for the renewal of the Visitor’s Pass (Temporary Employment) for foreign workers.
Consequently, MyEG was ordered to pay a penalty of RM307,200 and daily penalties from Oct 7, 2015 until Jan 22, 2019 amounting to RM9.03 million. At the same time, MyEG is still liable for a daily penalty of RM7,500 until it complies with the directives imposed by MyCC in its decision.
“This case is a testament to MyCC’s commitment, without fear or favour, to take stern action against abusive monopoly or dominant players in the market. We will continue to support the government in ensuring that the market is free from any harmful or wasteful monopoly,” MyCC CEO Iskandar Ismail said in a statement today.
Meanwhile, the company told Bursa Malaysia that it will be filing for a stay in the daily penalty and an appeal to the Court of Appeals immediately.
On Bursa Malaysia today, MyEG fell 1.96% or 2 sen to close at RM1 with 49.56 million shares traded, making it the fifth most active counter of the day.
Source: The Sun Daily