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Nov 4, 2009
16 coach companies fined <!--10 min-->
16 operators colluded to set minimum prices for tickets <!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Maria Almenoar </td></tr> <tr valign="bottom"> <td width="330">
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The amount of fines payable depends on the company's size and the amount earned from price-fixing. -- ST PHOTO: STEPHANIE YEOW
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SIXTEEN coach operators plying between Singapore and Malaysia and their association have been fined $1.69 million for price-fixing.
<table valign="top" align="left" width="200"> <tbody><tr><td class="padr8"> <!-- Vodcast --> <!-- Background Story --> <style type="text/css"> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </style> Penalties imposed
1. Transtar Travel $518,167
2. Five Stars Tours $450,207
</td></tr> </tbody></table> 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.
[email protected]
Nov 4, 2009
16 coach companies fined <!--10 min-->
16 operators colluded to set minimum prices for tickets <!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Maria Almenoar </td></tr> <tr valign="bottom"> <td width="330">
</td> <td width="10">
The amount of fines payable depends on the company's size and the amount earned from price-fixing. -- ST PHOTO: STEPHANIE YEOW
</td></tr> </tbody></table> <!-- START OF : div id="storytext"-->
SIXTEEN coach operators plying between Singapore and Malaysia and their association have been fined $1.69 million for price-fixing.
<table valign="top" align="left" width="200"> <tbody><tr><td class="padr8"> <!-- Vodcast --> <!-- Background Story --> <style type="text/css"> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </style> Penalties imposed
1. Transtar Travel $518,167
2. Five Stars Tours $450,207
... more
</td></tr> </tbody></table> 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.
[email protected]
