Piam hopes MyCC rethink decision, penalty
Published on: Thursday, March 02, 2017
Kuala Lumpur: The General Insurance Association of Malaysia (PIAM) hopes the Malaysia Competition Commission (MyCC) will reconsider its proposed decision and the imposition of the financial penalty against Piam and its 22 members.Piam Wednesday issued a statement in response to MyCC's proposed decision against the association and its members for being parties to an anti-competitive agreement that was reached with the Federation of Automobile Workshop Owners' Association of Malaysia (FAWOAM).The agreement was for the hourly rates and spare part prices chargeable for commonly used vehicles including Proton, Perodua, Naza, Nissan, Toyota and Honda.
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