KUALA LUMPUR, Oct 3 (NNN-BERNAMA) — The Malaysia Competition Commission (MyCC) is proposing a slap of RM86.7 million fine on\u00a0Grab Inc for collectively breaching the Competition Act 2010.<\/p>\n\n\n\n
MyCC Chief Executive Officer Iskandar Ismail said it also proposed a daily penalty of RM15,000 against the e-hailing firm from today after it was found that Grab abused its dominant position by imposing some restrictive clauses on its drivers.<\/p>\n\n\n\n
“We found Grab prevented its drivers from promoting and providing advertising services for Grab\u2019s competitors in the e-hailing and transit media advertising market.<\/p>\n\n\n\n
“MyCC proposed to impose a financial penalty of RM86,772,943.76 against Grab as well as a daily penalty of RM15,000 from the date of service of the proposed decision,” he said in a press conference at the MyCC headquarters here today.<\/p>\n\n\n\n
Iskandar said the restrictive clauses had the effect of distorting competition in the relevant market that is premised on multi-sided platforms by creating barriers to entry and expansion for Grab\u2019s existing and future competitors.<\/p>\n\n\n\n
Under Section 10 of the Act, an enterprise is prohibited from engaging, whether independently or collectively, in any conduct which amounts to an abuse of a dominant position in any market for goods or services.<\/p>\n\n\n\n
It was reported that MyCC would monitor Grab for possible anti-competitive behaviour after its acquisition of close rival Uber Technologies Inc’s Southeast Asian business in March last year.<\/p>\n\n\n\n
However, Iskandar said the decision to fine Grab was not final as the company has 30 days to make a representation to the commission. <\/p>\n\n\n\n
“Commission will then make its final decision under Section 39 or 40 of the Act after it has considered the said representation and all available information and evidence,” he added.<\/p>\n\n\n\n
On a side note, Iskandar said the commission was planning to propose an amendment to the existing law to include new provisions on merger and acquisition.<\/p>\n\n\n\n
“Malaysia or MyCC do not have merger power like Singapore and the Philippines.<\/p>\n\n\n\n
“However, as an agency under the Ministry of Domestic Trade and Consumer Affairs, any amendment or enhancement to the law will be from the ministry,” he said.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, Oct 3 (NNN-BERNAMA) — The Malaysia Competition Commission (MyCC) is proposing a slap of RM86.7 million fine on\u00a0Grab Inc for collectively breaching the Competition Act 2010. MyCC Chief Executive Officer Iskandar Ismail said it also proposed a daily penalty of RM15,000 against the e-hailing firm from today after it was found that Grab abused […]<\/p>\n","protected":false},"author":19,"featured_media":44654,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/44845"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44845"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/44845\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/44654"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44845"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}