Bismillahirrahmanirrahim Assalamualaikum Warahmatullahi Wabarakatuh, and a very good morning

YB Datuk Alexander Nanta Linggi
Minister of Domestic Trade and Consumer Affairs

YB Datuk Rosol Wahid,
Deputy Minister of Domestic Trade and Consumer Affairs

Ybhg. Dr. Alauddin Sidal,
Deputy Secretary-General of the Ministry of Domestic Trade and Consumer Affairs (Domestic Market)

Ybhg. Tuan Mohamed Zahari Razali,
Deputy Secretary-General of the Ministry of Domestic Trade and Consumer Affairs (Consumer Empowerment)

Ybhg. Iskandar Ismail,
Chief Executive Officer of the Malaysia Competition Commission

Distinguished guests,

Ladies and gentlemen,

Good Morning,

  1. Welcome to the launching of the Market Review on the Service Sector in Malaysia under the Competition Act 2010. I am pleased to be here today to witness another milestone achieved by the Malaysia Competition Commission (MyCC). To all our distinguished guests, and participants, I am deeply thankful for your presence at this event.
  2. As most of you are aware, MyCC is an independent regulatory body and agency established on 1 April 2011 under the Ministry of Domestic Trade and Consumer Affairs. Next year, will be our 10th year anniversary. Another milestone to be achieved by MyCC.
  3. The roles and functions of MyCC are to enforce the Competition Act 2010 in order to protect and promote the competitive process in Malaysia for the benefit of businesses, consumers and the economy. Additionally, MyCC is also an all-rounded body that functions more than enforcements and regulations. As you can see today, conducting market reviews is one of the functions granted to us under Section 11 of the Competition Act 2010. The objective is to determine whether any feature or combination of features of the market prevents, restricts, or distorts competition in the market. We will get to that later.
  4. Other than that, MyCC also has the power to execute compliance and advocacy roles such as policy advice, advocacy initiatives, and guidelines. As of now, MyCC has issued 55 policy advice, conducted 294 advocacy programmes and published 7 guidelines on Competition Law.

Ladies and gentlemen,

  1. Allow me to take this opportunity to express my utmost gratitude to our Minister, Yang Berhormat Datuk Alexander Nanta Linggi, who will be gracing today’s momentous occasion. Yang Berhormat Menteri, thank you for your support and trust in MyCC. With your support and guidance, MyCC, together with the Ministry of Domestic Trade and Consumer Affairs will grow and continue to work harder than ever toward our goals in protecting the process of competition and interests of consumers.
  2. Back to the Market review. Today’s Market Review marks the 6th Market Review by MyCC since its inception. The other five (5) market reviews conducted by MyCC are research on:
    1. Domestic Broiler Market
    2. Fees by Professional Bodies
    3. Pharmaceutical Sector
    4. Building Materials in the Construction Industry
    5. Food Sector
  3. On top of that, we have also started embarking on our 7th market review last month. The 7th market review will be focusing on the Transportation Sector and is expected to be completed in March 2021. InsyaAllah.
  4. Perhaps some of us are wondering why does the market review matter to any of us? It is because not only are the findings and recommendations of this Market Review going to be made available for the public, but it will also be shared to relevant ministries, agencies, and the stakeholders. This is one of the ways how MyCC works with other Ministries, agencies and other relevant bodies in ensuring competition policies and laws are implemented effectively.

Ladies and gentlemen,

  1. Before I end my speech, I would like to thank the young and energetic team in MyCC for their efforts in working hand in hand for the past twelve months in preparing the Market Review Report and organising this event today. We received tremendous responses in which the majority are positive with our Market Review on the Food Sector last year and we are expecting an incredible response and feedback for this market review. My greatest gratitude and appreciation goes to each one of them in ensuring the report is ready within the timeline despite the pandemic we are facing and managing the event from start till the end.

Ladies and gentlemen,

  1. At the end of this event, there will be a brief presentation by the CEO of MyCC; Encik Iskandar Ismail and I believe this presentation will provide more insight about the Market Review.  I do not wish to explain further and with that, I would like to once again extend my sincerest gratitude to Yang Berhormat Menteri and distinguished guests from the Ministry of Domestic Trade and Consumer Affairs, government agencies, the business communities, academicians, the media and of course, the public for coming to today’s event.

Thank you.