RM9.4 Million Penalty Imposed On MyEG For Infringing The Competition Act 2010

KUALA LUMPUR, Feb 8 (Bernama) — The Malaysia Competition Commission (“MyCC”) wishes to state on record that as of the date of this press release, MyEG has continuously been in non-compliance with the decision of the Competition Appeal Tribunal (“CAT”) dated 28 December 2018 which affirmed MyCC’s decision dated 24 June 2016 (“CAT Decision”).

Upon the dismissal of MyEG’s Judicial Review application by the High Court on 22 January 2019, MyCC has instructed its solicitors to demand compliance with the remedial orders as set out in paragraphs 58 (iii) and 58 (iv) of the CAT Decision and for the payment of the daily penalty. The daily penalty of RM7,500.00 will continue to accumulate until compliance by MyEG with the directives imposed by the CAT in paragraph 58 of the CAT Decision. The total financial penalty, to date, has accumulated to RM9,464,700.00 

http://mrem.bernama.com/viewsm.php?idm=33778

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