Sunday, September 25, 2011

Malaysian Competition Commission launches website

KUALA LUMPUR: The Malaysian Competition Commission (MyCC) launched its corporate logo and website on Friday, Sept 23.

MyCC chairman Tan Sri Siti Norma Yaakob said'' the website, which would link'' MyCC and its stakeholders, would'' be a platform for MyCC to disseminate and share information on the law, enforcement and advocacy activities.

She said the MyCC was drawing up the guidelines and it would consult the private sector and the business community before finalising these guidelines.

It was necessary, she said, for the commission and the business community to understand and clarify the important factors relating to the act.

'This has to be done carefully as consistency and clarity in the application of the law is crucial and this would boost confidence of the market players,' she said.

The MyCC is an independent body established under the Competition Commission Act 2010 to enforce the Competition Act 2010. Its main role is to protect the competitive process for the benefit of businesses, consumers and the economy.

Moving towards Jan 1, 2012 when the act would be implemented, she said the MyCC had begun advocacy programmes and public consultation programmes to bring the business community up to speed with the act, issues surrounding the act and compliance.

'The Malaysian businessman would need a clear understanding of the law and the guidelines so that compliance would not be difficult,' she added.

She also said the website would be a platform for the public remain informed and to participate and engage with MyCC so it can perform the duties it was set up to do more effectively.

'The public could use this media to channel information and complaints on any market manipulation and cartel activities. Such information is crucial for MyCC to act effectively,' she pointed out.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said that the launch of the website and logo were symbolic and should not be seen as just a 'routine' ceremony.

He added that the occasion was a historic one as it stands to show the nation, and the world, how serious and committed the government is in championing principles of healthy competition and creating a 'level playing field' for businesses.


He also said that the Competition Act was necessary for the creation of a healthy economy. It helps increase standards, quality, productivity and motivates efficiency.

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