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Tuesday, October 6, 2015

MyEG abused dominant position, says MyCC

The company has applied different conditions to equivalent transactions with other trading parties that may harm competition.
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KUALA LUMPUR: The Malaysia Competition Commission (MyCC) has found MyEG Services Bhd (MyEG) abusing its dominant position in the management of online foreign workers permit renewal applications.
In a statement today, MyCC said MyEG was found to have infringed Section 10 of the Competition Act 2010.
“They had applied different conditions to equivalent transactions with other trading parties that may harm competition.
“The investigation found that MyEG has harmed the level of competition in the selling of mandatory insurance policies for online permit renewal applications as it is also competing against other insurance companies in the market,” it said.
MyEG’s wholly-owned unit, MyEG Commerce Sdn Bhd, is an agent of RHB Insurance Bhd which sells the mandatory insurance policies.
The insurance policies are foreign workers insurance guarantee, foreign workers hospitalisation and surgical scheme and foreign workers compensation.
The commission is allowed under the law to impose a penalty of up to 10% of the worldwide turnover of each enterprise and any remedial action.
MyCC said it proposed to impose a penalty of RM307,200 and an additional penalty of RM15,000 for each day that MyEG failed to comply with the remedial actions.
“The remedial actions are that MyEG Commerce is to terminate the existing agency agreements relating to the mandatory insurance policies and shall not enter into similar nature of agency agreements and that MyEG is to provide an efficient gateway to all insurance companies selling the mandatory insurances which allow them to compete at the same level,” it said.
– BERNAMA

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