6 industry regulators discuss mergers, competition with MyCC

MyCC chairman Hishamudin Yunus. (Bernama pic)

KUALA LUMPUR: Regulators from six sectors recently attended a special committee on competition chaired by the Malaysia Competition Commission (MyCC) to address complaints related to competitions including mergers.

MyCC chairman Hishamudin Yunus said the regulators include the Malaysian Communications and Multimedia Commission (MCMC), Energy Commission, Bank Negara Malaysia, Securities Commission, Malaysian Aviation Commission (Mavcom), and Intellectual Property Corporation of Malaysia (MyIPO).

“The discussion is pertinent for the development and consistent application of competition laws and policies,” he said in a statement.

Hishamudin said a key issue discussed was the provisions on mergers and acquisitions, MyCC’s main focus in its plan to amend the relevant laws.

“MCMC and Mavcom are of the opinion that any laws or guidelines on M&A that will be introduced by MyCC in the near future should have similarities with each other in order to achieve consistency in the implementation of M&A policies,” he said.

Hishamudin said the committee was briefed on the key findings and recommendations of the recently launched MyCC’s market review on food sector.

“The members also shared the latest development in their industries, particularly Malaysia’s accession to the Madrid Protocol where international trademark registrations can soon be done with a single filing application through MyIPO. This will benefit domestic business owners and attract foreign investment,” he said.