MyEG fined RM2.7mil for harming competition in foreign worker insurance sale !

MyEG fined RM2.7mil for harming competition in foreign worker insurance sale

MyEG fined RM2.7mil for harming competition in foreign worker insurance sale !

myeg picture 01

The Star Online

Friday, 24 June 2016 | MYT 5:56 PM

KUALA LUMPUR:

The Malaysia Competition Commission (MyCC) has fined MY E.G. Services Bhd (MyEG) RM2.272mil for abusing its dominant position in how it manages online foreign workers permit (PLKS) renewals.In a statement on Friday, MyCC said by virtue of their shareholdings and directorships, MyEG and MY E.G. Commerce Sdn Bhd (MyEG Commerce) were a single economic unit as defined under the Competition Act 2010. (MyEG Commerce is 100% owned by MyEG.)MyCC said it found that MyEG, together with MyEG Commerce, had infringed the Act by “abusing its dominant position in harming competition in the downstream market in which MyEG Commerce is participating as an insurance agent for online PLKS renewal applications.

”The competition authority said different conditions were imposed to equivalent transactions with its competitors to the extent that it had harmed competition in the downstream market for the sale of mandatory insurances.The RM2.272mil financial penalty imposed on the e-government services provider comprises a fine of RM307,200 for the infringement periods of Jan 5, 2015, to Jan 22, 2015, and May 2, 2015, to Oct 6, 2015, as well as a daily penalty of RM7,500 from Oct 7, 2015, to the date of MyCC’s decision (June 24).

The Commission also imposes several remedial actions on MyEG, for which non-compliance may lead to a higher daily penalty for the subsequent period of non-compliance.These remedial actions include asking MyEG to cease and desist immediately from imposing different conditions to equivalent transactions in the processing of mandatory insurances for online PLKS renewal applications.MyEG must also provide an efficient gateway for all its competitors in the market of sale of the mandatory insurances and allows the other competitors to compete at the same level within 60 days.

The company must also provide an undertaking in the form and manner acceptable to the Commission, to be fully compliant with the rules and regulations of General Insurance Association of Malaysia within 60 days.In an announcement to Bursa Malaysia on the same day, MyEG said its board of directors would review MyCC’s decision with the company’s legal counsel and it intended to file in an appeal to MyCC.MyEG shares shed 1 sen to close at RM1.94 on Friday, with 7.046 million shares traded.

http://www.thestar.com.my/business/business-news/2016/06/24/myeg-fined-rm2pt7mil-for-harming-rivals-in-foreign-worker-insurance-mart/

http://www.mycc.gov.my/media-releases

Foreign Worker Insurance FB Wall Post

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ACPG Management Sdn Bhd

Malaysia Experience Foreign Worker Insurance Risk Management Solution Provider since year 1989.

Head Office

158-3-7, Blok 158, Kompleks Maluri,

Jalan Jejaka, Taman Maluri,

55100 Kuala Lumpur, Malaysia.

ACPG Careline +603-92863323

enquiry@acpgconsultant.com

www.acpgconsultant.com

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星洲网 24/06/2016

MyEG违竞争法罚227·竞争委会:若不补救提高罚款MyEGMyEG商业公司触犯2010年竞争法令,被大马竞争委员会(MyCC)罚款2272200令吉。

(吉隆坡24日讯)

MyEGMyEG商业公司触犯2010年竞争法令,被大马竞争委员会(MyCC)罚款2272200令吉。MyCC今日发文告指出,如果MyEG没有落实MyCC所提出的补救行动,MyCC将会在接下来的期间对该公司实施更高的每日罚款。

文告说,MyCC接获数宗投诉,指责MyEG滥用其网上更新外劳准证服务所占有的主导地位。

滥用主导地位“根据调查发现,MyEGMyEG商业公司的确违法,滥用其主导地位,危害下游市场的竞争,因为MyEG商业公司加入成为网上更新外劳准证的保险代理,其所售卖的强制保险,让其对手在进行相同的交易,却需遵守不同的条件。”文告指出,上述罚款包括在去年15日至22日,以及去年52日至106日期间触法的罚款307200令吉,还有从107日那天起每天7500令吉的罚款。

文告说,实施每日罚款是因为MyEG持续滥用主导地位的行为,而且至今还未为其对手提供充份进入市场的门槛,MyEG所销售的强制保险,造成其对手无法在相同的水平与之竞争。

文告指出,竞争委员会建议MyEG采取的补救行动包括停止在网上更新外劳准证的强制保险中,在相同的交易中向对手实施不同的条件丶从MyCC下决定起的60天内为对手提供相同的竞争平台和以MyCC接受的方式承诺遵守大马普通保险协会(PIAM)条例。

文告说,MyCC这项决定的通告将会上载至其官网,可以浏览http://www.mycc.gov.my

http://www.mycc.gov.my/media-releases

http://www.sinchew.com.my/…/myeg%E8%BF%9D%E7%AB%9E%E4%BA%89…

Shared Information By

ACPG Management Sdn Bhd

Malaysia Experience Foreign Worker Insurance Risk Management Solution Provider since year 1989.

Head Office

158-3-7, Blok 158, Kompleks Maluri,

Jalan Jejaka, Taman Maluri,

55100 Kuala Lumpur, Malaysia.

ACPG Careline +603-92863323

enquiry@acpgconsultant.com

www.acpgconsultant.com

www.facebook.com/acpg.management

Foreign Worker Insurance FB A4

MYEG Foreign Workers & Maids Insurance

MYEG SKIM PAMPASAN PEKERJA ASING (FWCS)

MYEG SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

MYEG SKIM INSURANS PEMBANTU RUMAH

Myeg Foreign Worker Insurance Guarantee (FWIG)

Myeg Foreign Worker Compensation Scheme (FWCS)

Myeg Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

Myeg Domestic Servant Insurance Scheme (DSIS)

Myeg Maids Insurance Scheme (MIS)

MSIG Foreign Workers & Maids Insurance

MSIG SKIM PAMPASAN PEKERJA ASING (FWCS)

MSIG SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

MYEG SKIM INSURANS PEMBANTU RUMAH

MSIG Foreign Worker Insurance Guarantee (FWIG)

MSIG Foreign Worker Compensation Scheme (FWCS)

MSIG Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

MSIG Domestic Servant Insurance Scheme (DSIS)

MSIG Maids Insurance Scheme (MIS)

Allianz Foreign Workers & Maids Insurance

Allianz SKIM PAMPASAN PEKERJA ASING (FWCS)

Allianz SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

Allianz SKIM INSURANS PEMBANTU RUMAH

Allianz Foreign Worker Insurance Guarantee (FWIG)

Allianz Foreign Worker Compensation Scheme (FWCS)

Allianz Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

Allianz Domestic Servant Insurance Scheme (DSIS)

Allianz Maids Insurance Scheme (MIS)

Lonpac Foreign Workers & Maids Insurance

Lonpac SKIM PAMPASAN PEKERJA ASING (FWCS)

Lonpac SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

Lonpac SKIM INSURANS PEMBANTU RUMAH

Lonpac Foreign Worker Insurance Guarantee (FWIG)

Lonpac Foreign Worker Compensation Scheme (FWCS)

Lonpac Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

Lonpac Domestic Servant Insurance Scheme (DSIS)

Lonpac Maids Insurance Scheme (MIS)

Pacific Foreign Workers & Maids Insurance

Pacific SKIM PAMPASAN PEKERJA ASING (FWCS)

Pacific SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

Pacific SKIM INSURANS PEMBANTU RUMAH

Pacific Foreign Worker Insurance Guarantee (FWIG)

Pacific Foreign Worker Compensation Scheme (FWCS)

Pacific Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

Pacific Domestic Servant Insurance Scheme (DSIS)

Pacific Maids Insurance Scheme (MIS)

AXA Foreign Workers & Maids Insurance

AXA SKIM PAMPASAN PEKERJA ASING (FWCS)

AXA SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

AXA SKIM INSURANS PEMBANTU RUMAH

AXA Foreign Worker Insurance Guarantee (FWIG)

AXA Foreign Worker Compensation Scheme (FWCS)

AXA Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

AXA Domestic Servant Insurance Scheme (DSIS)

AXA Maids Insurance Scheme (MIS)

AIG Foreign Workers & Maids Insurance

AIG SKIM PAMPASAN PEKERJA ASING (FWCS)

AIG SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

AIG SKIM INSURANS PEMBANTU RUMAH

AIG Foreign Worker Insurance Guarantee (FWIG)

AIG Foreign Worker Compensation Scheme (FWCS)

AIG Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

AIG Domestic Servant Insurance Scheme (DSIS)

AIG Maids Insurance Scheme (MIS)

Kurnia Foreign Workers & Maids Insurance

Kurnia SKIM PAMPASAN PEKERJA ASING (FWCS)

Kurnia SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

Kurnia SKIM INSURANS PEMBANTU RUMAH

Kurnia Foreign Worker Insurance Guarantee (FWIG)

Kurnia Foreign Worker Compensation Scheme (FWCS)

Kurnia Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

Kurnia Domestic Servant Insurance Scheme (DSIS)

Kurnia Maids Insurance Scheme (MIS)

Tokio Marine Foreign Workers & Maids Insurance

Tokio Marine SKIM PAMPASAN PEKERJA ASING (FWCS)

Tokio Marine SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

Tokio Marine SKIM INSURANS PEMBANTU RUMAH

Tokio Marine Foreign Worker Insurance Guarantee (FWIG)

Tokio Marine Foreign Worker Compensation Scheme (FWCS)

Tokio Marine Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

Tokio Marine Domestic Servant Insurance Scheme (DSIS)

Tokio Marine Maids Insurance Scheme (MIS)

Takaful Malaysia Foreign Workers & Maids Insurance

Takaful Malaysia SKIM PAMPASAN PEKERJA ASING (FWCS)

Takaful Malaysia SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

Takaful Malaysia SKIM INSURANS PEMBANTU RUMAH

Takaful Malaysia Foreign Worker Insurance Guarantee (FWIG)

Takaful Malaysia Foreign Worker Compensation Scheme (FWCS)

Takaful Malaysia Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

Takaful Malaysia Domestic Servant Insurance Scheme (DSIS)

Takaful Malaysia Maids Insurance Scheme (MIS)

RHB Foreign Workers & Maids Insurance

RHB SKIM PAMPASAN PEKERJA ASING (FWCS)

RHB SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

RHB SKIM INSURANS PEMBANTU RUMAH

RHB Foreign Worker Insurance Guarantee (FWIG)

RHB Foreign Worker Compensation Scheme (FWCS)

RHB Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

RHB Domestic Servant Insurance Scheme (DSIS)

RHB Maids Insurance Scheme (MIS)

P&O Foreign Workers & Maids Insurance

P&O SKIM PAMPASAN PEKERJA ASING (FWCS)

P&O SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

P&O SKIM INSURANS PEMBANTU RUMAH

P&O Foreign Worker Insurance Guarantee (FWIG)

P&O Foreign Worker Compensation Scheme (FWCS)

P&O Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

P&O Domestic Servant Insurance Scheme (DSIS)

P&O Maids Insurance Scheme (MIS)

Berjaya Sompo Foreign Workers & Maids Insurance

Berjaya Sompo SKIM PAMPASAN PEKERJA ASING (FWCS)

Berjaya Sompo SKIM KEMASUKAN HOSPITAL DAN PEMBEDAHAN

PEKERJA ASING (SKHPPA)

Berjaya Sompo SKIM INSURANS PEMBANTU RUMAH

Berjaya Sompo Foreign Worker Insurance Guarantee (FWIG)

Berjaya Sompo Foreign Worker Compensation Scheme (FWCS)

Berjaya Sompo Foreign Worker Hospitalisation and Surgical Insurance Scheme (SKHPPA)

Berjaya Sompo Domestic Servant Insurance Scheme (DSIS)

Berjaya Sompo Maids Insurance Scheme (MIS)