The Competition Act of Malaysia

Nazlan Ghazali, General Counsel & Company Secretary, Maybank

The Competition Act of Malaysia was passed in July 2010. The said Competition Act 2010 (the “Act”) came into force on 1 January 2012. The objective of the Act is to promote economic growth, protect the process of competition and the interest of consumers. The Act applies to all commercial activities relating to goods or services, both within and outside Malaysia, provided that such commercial activity has an effect on competition in any market in Malaysia.