Oral reply to PQ on Letters warning of anti-competitive behaviour issued to businesses for attempts to initiate price coordination

Question: 

Mr Dennis Tan Lip Fong: To ask the Minister for Energy, Trade and Industry (Energy and Industry) (a) how many warning letters the Competition and Consumer Commission of Singapore has issued for unilateral anti-competitive invitations or attempts to initiate price coordination in the past five years; (b) whether the Government assesses that warning letters may not be an adequate deterrent against such conduct; and (c) whether the Government will consider further measures, including legislative changes.  

Oral Answer (to be attributed to Minister for Energy, Trade and Industry (Energy and Industry) Dr Tan See Leng 

1.       The Competition Act 2004 prohibits anti-competitive agreements and concerted practices involving price-fixing and price coordination between businesses. In the past five years, CCS has issued one warning letter for a unilateral attempt to initiate price coordination. 

2.       In this particular case, there was no eventual anti-competitive agreement nor concerted practice that led to price-fixing and price coordination. Nonetheless, CCS issued a warning letter to make clear that businesses should determine their prices independently and that any anti-competitive attempt to fix or coordination prices will not be condoned.