KUALA LUMPUR (Nov 12): A proposed amendment to the Competition Act 2010 to incorporate merger controls is expected to be tabled at the next parliamentary session, said Minister of Domestic Trade and Living Costs Datuk Armizan Mohd Ali.

The amendment seeks to empower the Malaysia Competition Commission (MyCC) to regulate merger and acquisition (M&A) activities to combat cartel practices and monopolies in the market, Armizan noted.

Malaysia is currently the only country in Southeast Asia whose competition commission lacks the authority to regulate M&A activities.

"We aim to table the amendment bill in the upcoming parliamentary session, once the Cabinet gives its approval," Armizan told the Dewan Rakyat during the ministry’s winding-up speech for the 2025 Supply Bill.

Meanwhile, Armizan said MyCC is investigating the issuance of approved permits (APs) and import permits (IPs) for food imports, including onions, meat, and coconuts.

The investigation is being conducted under instructions from the National Economic Action Council (MTEN), he said. "MyCC is actively engaging with government agencies and industry players, and the findings are expected to be presented to MTEN before the end of this year."

The Domestic Trade and Living Costs Ministry will be launching enforcement operations to monitor the prices of goods and services to counter profiteering amid the implementation of minimum wages and subsidy rationalisation efforts, said Armizan.

"The operation will be similar to 'Ops Kesan', which the ministry launched after the diesel subsidy rationalisation earlier this year. The ministry will announce the mechanism for determining unreasonably high profits in due course," he said.

He warned that the ministry would take strict action against traders who violate the Price Control and Anti-Profiteering Act 2011.

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