The Malaysia Competition Commission (MyCC) has announced that it has found that there has been no infringement of the country’s competition act by the largest Malaysian flat steel producer Megasteel Sdn Bhd.
In October 2012, the commission initiated an investigation upon receipt of a complaint relating to alleged abuse of dominant position by Megasteel. The complainant alleged that Megasteel as the sole supplier of hot rolled coil (HRC) was charging higher than the international price of HRC. The complainant also alleged that Megasteel was competing in the CRC market and often undercut its price.
After deliberating on the written and oral representations submitted by Megasteel, the MyCC has concluded that Megasteel neither abused its dominant position nor practiced margin squeeze in the relevant markets.