KUALA LUMPUR (Sept 5): The Malaysia Competition Commission (MyCC) on Thursday said it is penalising seven privately-held companies for alleged involvement in a cartel to bid for four defence tenders worth RM20 million.

The combined fine was RM446,092.95 against the seven firms - Agenda Eksklusif Sdn Bhd, Star Apex Enterprise, Nekad Waja Resources, Spectron Sdn Bhd, Teknokrat Makmur Enterprise, Prospectrum Sdn Bhd, and NK Panorama Enterprise - according to a statement from MyCC.

“Bid-rigging cartels have long threatened the integrity of public procurement, draining valuable public resources meant for the benefit of the nation and rakyat,” said Iskandar Ismail, the agency’s chief executive officer. “MyCC stands resolute in its mission to eliminate these unethical practices.” 

The fines and penalty, which include requiring five of the companies to enroll in a competition compliance programme and training approved by the commission, comes following a proposed decision issued in December 2023. 

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