4 companies issued Proposed Infringement Decision
The Competition Commission of Singapore has issued a Proposed Infringement Decision or P-I-D against four Japanese bearings manufacturers and their local subsidiaries.
This gives the companies six weeks to submit representations to the Commission before it finalises its decision on whether there's been an infringement.
The companies were said to be involved in anti-competitive agreements - and this includes an illegal exchange of information on ball and roller bearings prices.
They were said to have met regularly, in Japan and Singapore, to discuss sale prices for bearings sold to customers in Singapore, in order to protect their profits and sales.
This is an infringement of the Competition Act.
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