Posted on 19 Apr 2016
MyCC Clears Megasteel Of Infringement Of Competition Act
The Malaysia Competition Commission (MyCC) has found that there is no
infringement of the Competition Act 2010 by Megasteel Sdn Bhd.
In a statement today, the MyCC said it had initiated an investigation
in October 2012 upon receipt of a complaint relating to the alleged
abuse of dominant position by Megasteel, an infringement of Section
10(1) of the Competition Act 2010.
"After deliberating on the written and oral representations submitted
by Megasteel, the MyCC has conducted further analysis and came to the
conclusion that Megasteel neither abuse its dominant position nor
practice margin squeeze in the relevant markets.
"The MyCC therefore finds that there is no infringement of the
Competition Act 2010 by Megasteel," it said, adding it had issued a
Finding of Non-Infringement in relation to the conduct of the company.
Megasteel was alleged to have charged higher than the international
price of hot rolled coil as the sole supplier of the product, which is
an essential material to produce cold rolled coil (CRC).
The complainant had also alleged that Megasteel is competing in the CRC market and often undercuts its price.
