Malaysia targeting monopolies, lopsided deals in bid to cut costs

Move comes as govt tries to boost spending power, ease financial pressure on the public

Tan Sri Syed Mokhtar Albukhary, who has close ties to the government, controls both Bernas and Puspakom. Last week, Communications and Multimedia Minister Gobind Singh Deo lifted a freeze on a telco regulation which he said would lower broadband Inte
Last week, Communications and Multimedia Minister Gobind Singh Deo lifted a freeze on a telco regulation which he said would lower broadband Internet prices by 25 per cent by the end of the year. It was not the only policy approved - there is also a new Cabinet committee that will look at breaking up monopolies that have resulted in inflated prices. PHOTO: REUTERS
Tan Sri Syed Mokhtar Albukhary, who has close ties to the government, controls both Bernas and Puspakom. Last week, Communications and Multimedia Minister Gobind Singh Deo lifted a freeze on a telco regulation which he said would lower broadband Inte
Tan Sri Syed Mokhtar Albukhary, who has close ties to the government, controls both Bernas and Puspakom. PHOTO: REUTERS
Shannon Teoh Malaysia Bureau Chief In Kuala Lumpur
Updated
Published
June 24, 2018 at 5:00 AM
Gift this subscriber-only story to your friends and family

Having ridden into power on a wave of public anger over rising costs of living, the Pakatan Harapan (PH) government has begun casting its eye on Malaysia's many lopsided deals and monopolies, as it tries to reduce prices of basic goods and services.

The government has taken the popular step of abolishing the 6 per cent goods and services tax (GST), but this move has mainly helped businesses, while the prices of teh tarik in cafes and milk powder in supermarkets have not fallen.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

ST One Digital

 $9.90/month

No contract

ST app access on 1 mobile device

Subscribe now

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Sunday Times on June 24, 2018, with the headline Malaysia targeting monopolies, lopsided deals in bid to cut costs. Subscribe

Available for
iPhones and iPads
Available in
Google Play

MCI (P) 076/10/2022, MCI (P) 077/10/2022. Published by SPH Media Limited, Co. Regn. No. 202120748H. Copyright © 2023 SPH Media Limited. All rights reserved.

Back to the top