According to a news report
, the Chief Executive Officer (‘CEO’) of the Malaysia Competition Commission (‘MyCC’) has said that the MyCC proposes to amend Malaysia’s competition law to introduce merger control provisions sometime this year.
The news report further reported that the MyCC’s CEO said that the introduction of merger control provisions “would enable it to approve or reject mergers and acquisitions, or impose conditions on potential deals
No further details have been provided in the news report. It remains to be seen whether the merger control regime in Malaysia will be a voluntary or compulsory regime and what thresholds will be introduced in order for the controls to apply.
Previously, unofficial sources had suggested that merger control provisions would be introduced by mid-2020.
The introduction of merger control will be a game changer in the merger and acquisition space in Malaysia.