Investigations into the share agreement between Malaysian Airline System Sdn Bhd and AirAsia Bhd are still ongoing, says the Malaysia Competition Commission (MyCC).

“I cannot make any announcement... we are still investigating (the share swap agreement). When the time is right, we will tell you,” its chairperson, Siti Norma Yaakob said today.

She was speaking to reporters after officiating the two-day workshop on ‘The Competition Act 2010: A Review of Market Behaviour’, at Universiti Sains Malaysia (USM) in George Town today.

MyCC’s commissioner, Dr S Sothi Rachagan, said the investigation would take a longer time, as it was a complex process involving an examination of agreements.

Previously, Domestic Trade, Cooperative and Consumerism Minister Ismail Sabri Yaakob had said that the MyCC’s investigation on the share swap deal would focus on whether it involved an abuse of monopoly or formation of a cartel.

Commenting on the Competition Act which came into force in January this year, Siti Norma said it took the government about 20 years for its introduction.

“Although the Act is new to the business community in Malaysia, education is vital in spreading its purpose and objective, as well as how it could attract business and change mindsets.

The Competition Act is aimed at promoting the process of market competition and protecting the interest of consumers. It applies to all business activities by both private and government-linked companies, within and outside Malaysia.

Siti Norma said the Competition Act will result in more players in the market, encourage investments via dynamic efficiency, and generate real prices through allocative and static efficiency.

About 40 participants at the workshop were exposed to the Competition Act’s role in promoting healthy competition and fair business, anti-competition behaviour as well as abuse of dominant position.

- Bernama