Tri­bunal up­holds MyCC’s fine on MyEG

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: MyEG Ser­vices Bhd said its ap­peal against Malaysia Com­pe­ti­tion Com­mis­sion’s (MyCC) fine of RM2.272 mil­lion for abus­ing its dom­i­nant po­si­tion in the on­line for­eign work­ers per­mit (PLKS) re­newals has been dis­missed by the Com­pe­ti­tion Ap­peal Tri­bunal (CAT).

In a fil­ing with Bursa Malaysia yes­ter­day, MyEG said the group had re­viewed CAT’s de­ci­sion with its le­gal coun­sel and in­tends to seek a ju­di­cial re­view and ap­ply for a stay against the tri­bunal’s de­ci­sion.

CAT also im­posed an ad­di­tional daily penalty amount­ing to RM7,500 com­puted from June 25, 2016 to Dec 28, 2017.

MyEG was in­structed to im­me­di­ately cease im­pos­ing dif­fer­ent con­di­tions to equiv­a­lent trans­ac­tions in the pro­cess­ing of manda­tory in­sur­ances for on­line PLKS re­newal ap­pli­ca­tions.

MyEG said CAT’s de­ci­sion is not ex­pected to have any ma­te­rial fi­nan­cial and op­er­a­tional im­pact on the company.

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