KUALA LUMPUR, Feb 28 — The Malaysia Competition Commission (MyCC) has fined eight companies RM92.8 million for participating in a bid-rigging cartel involving government tenders.
According to The Star, MyCC chief executive officer Iskandar Ismail said investigations found the companies had violated Section 4 of the Competition Act 2010 by manipulating three government tenders worth about RM474 million.
“Following an extensive investigation, MyCC has imposed a total financial penalty of RM92,876,078.90 on the infringing enterprises,” he was quoted as saying.
The eight companies involved are Dutamesra Bina Sdn Bhd, IDX Multi Resources Sdn Bhd, Mangkubumi Sdn Bhd, Menang Idaman Sdn Bhd, Meranti Budiman Sdn Bhd, Pintas Utama Sdn Bhd, NYL Corporation Sdn Bhd, and Kiara Kilat Sdn Bhd.
Iskandar explained that under the Competition Act, MyCC has the authority to impose fines of up to 10 per cent of a company’s worldwide turnover.
The investigation revealed that Mangkubumi was the mastermind behind the cartel, while Pintas Utama played a central role in coordinating the bid-rigging scheme.
MyCC’s probe uncovered evidence, including emails and tender documents, showing that the cartel members shared information and manipulated bids at Pintas Utama’s office.
Iskandar stressed that bid rigging distorts procurement, inflates costs, and burdens both the government and the public, adding that MyCC is also investigating 13 other bid-rigging cartels involving 561 companies.
