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13 vehicle traders face action for rigging bids at auctions

Published on Sep 6, 2012 4:38 PM
 

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".

 
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