SIXTEEN coach operators plying between Singapore and Malaysia and their association have been fined $1.69 million for price-fixing.
The Competition Commission of Singapore (CCS) has found the companies and the Executive Bus Agencies Association (EBAA) guilty of setting a minimum price for coach tickets sold here and for a fuel and insurance surcharge on each ticket.
This collusion took place between 2006 and June last year.
The fines, ranging from $10,000 to $518,167, are pegged to the company's size and the amount earned from the price-fixing.
The total fine is the biggest penalty handed down by the CCS, which promotes healthy competition in the various industries and administers the Competition Act.
In the only other time it has wielded its powers, it fined six pest exterminators a total of $263,000 for bid-rigging in January last year.
Read the full story in Wednesday's edition of The Straits Times
mariaa@sph.com.sg
