13 vehicle traders face action for rigging bids at auctions
Published on Sep 06, 2012
The Competition Commission of Singapore (CCS) is taking 13 motor vehicle traders to task for anti-competitive actions.
In a statement on Thursday afternoon, the Commission accused the traders of contravening the Competition Act.
The group was said to have engaged in an anti-competitive agreement to suppress bids at public auctions of motor vehicles.
The CCS said that the infringing conduct involved bid-rigging through an agreement to suppress bids at these auctions, which has the "object of preventing, restricting or distorting competition".
Read the full story in Thursday's edition of The Straits Times.
