KUALA LUMPUR, 9 JULY 2025 – The Malaysia Competition Commission (MyCC) and the Malaysian Institute of Chartered Secretaries and Administrators (MAICSA) yesterday formalized a strategic collaboration through the signing of a Memorandum of Understanding (MoU) aimed at enhancing awareness and compliance with the Competition Act 2010 as well as strengthening governance practices within the corporate sector.
The MoU Signing Ceremony took place at Bangunan MAICSA, Kuala Lumpur. It was signed by YBhg. Tan Sri Dato’ Sri Idrus bin Harun, Chairman of MyCC and YBhg. Dato’ Akbar bin Moidunny, President of MAICSA. Also present were the Chief Executive Officers of both organisations, YBhg. Datuk Haji Iskandar bin Ismail (MyCC) and Mr. Justin J Anthony (MAICSA), who witnessed the signing.
This partnership reflects the shared commitment of MyCC and MAICSA to promote greater understanding and practical application of competition principles and corporate governance best practices among professionals, corporate secretaries and industry players at large.
“This collaboration between MyCC and MAICSA marks a pivotal step in strengthening a culture of compliance and ethical corporate governance. Together, we aim to embed the principles of healthy competition into the fabric of corporate management, driving a more resilient, transparent and competitive business ecosystem in Malaysia,” said Tan Sri Dato’ Sri Idrus bin Harun, Chairman of the Malaysia Competition Commission.
“As the professional body for governance professionals, MAICSA recognises that strong corporate governance must go hand in hand with adherence to competition law. This partnership with MyCC is a timely and strategic initiative that reinforces MAICSA’s commitment to promoting not just governance excellence, but also a deeper appreciation of competition compliance as a cornerstone of responsible corporate stewardship,” said Dato’ Akbar bin Moidunny, President, MAICSA.
Following the signing ceremony, a panel discussion titled "Strengthening Corporate Governance Through Competition Compliance: A Dialogue Between MyCC and MAICSA" was held, moderated by Mr. Justin J Anthony, CEO of MAICSA. The discussion featured insightful perspectives from Datuk Haji Iskandar bin Ismail, Dato’ Akbar bin Moidunny and Puan Mek Yam @ Mariam Hassan, General Manager of Corporate Secretarial (International) at PETRONAS.
The discussion reinforced the vital role of collaboration among regulators, professional bodies and corporations in cultivating a business culture rooted in transparency, accountability and healthy competition.
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About the Malaysia Competition Commission (MyCC)
Established in June 2011, MyCC is an independent body responsible for enforcing the Competition Act 2010, which was implemented to create healthy competition that would, in turn, stimulate productivity and innovation, thus creating wider choices of products for consumers with better quality and reasonable prices.
The Act 712 applies to all commercial activities undertaken within and outside of Malaysia that affect competition in the Malaysian market. It provides a regulatory framework including powers to investigate, adjudicate and impose penalties on the perpetrators of the competition laws.
MyCC celebrated its 14th anniversary on 1 April 2025 and to date, MyCC has taken decisive action against more than 200 companies relating to cartels and abuse of dominant positions, resulting in a cumulative penalty of more than RM667 million. MyCC’s current priorities include amending the Act to introduce the merger control regime, actively targeting bid rigging cartels and cartels in the food and agriculture sectors, as well as focusing on the challenges brought by the digital economy to competition law and policy. For more information on the Act and MyCC activities, log on to www.mycc.gov.my.