4 bakeries warned for colluding to raise prices

[Parkingidiot]

How come they never take action on Petrol Cartel???!!

 

 

April 16, 2008

 

4 bakeries warned for colluding to raise prices. Watchdog body acts after fa gao confectioners announce joint price increase

 

PRICE-FIXING: The Competition Commission stopped four major manufacturers of fa gao (above) from jointly raising the selling price of the Chinese cupcake.

 

 

FOUR manufacturers of a traditional Chinese cupcake thought they could have their cake and eat it as well.

 

The four, among the biggest manufacturers of fa gao and which together corner half the market here, had agreed to jointly raise the selling price of the cakes.

In this way, they would cover their increased production costs and yet not lose business to each other.

 

The collusion landed them in hot water with the competition watchdog.

The Competition Commission of Singapore, on confirming this as an instance of price-fixing, warned the four against the practice. They could have been fined.

 

Fa gao is a steamed cupcake offered during prayers at Chinese festivals or at the tombs of ancestors.

 

... full story

 

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[Kingcopa]

Well what is new

[Kenko]

replace "bakeries" with "petrol companies"

and replace "fa gao" with "petrol"

and i'll be very happy

Edited April 16, 2008 by Kenko

[Bmz3]

I need petrol, I don't need fa gao.

[Rickster]

Toking about petrol...it looks almost set that another round of price increase is coming out way!

 

1) Petrol price raised in Nov 07 is in response to oil hovering around US$90-$100.

2) The 1st raise in March 08 came when petrol constantly hits US$105.

3) The 2nd raise in March 08 came when petrol hovers around US$110.

 

My prediction....

 

4) 3rd raise will be coming anytime next week because oil has been constantly above US$110 and hitting US$115 for the past 1 week.

[Chilli_crab]

It's a damn shame that the Competition Commission only dare to take on local enterprises, but chicken out when dealing with the petrol MNCs. Moreover, these 4 bakeries only cover half the market while the petroleum companies monopolise the entire market.

[Tckrto]

tell those watchdog go investigate petroleum company instead of small cake company lah. Price fixing isn't it obvious enough??

[Chongster]

agree Fa Gao is the least of everyone's worry, god knows who eat fa gao these days (except maybe the chinese god).

 

bank interest rates also price fixing btw.

[Apollo]

欺 弱 怕 强

[Darth_mel]

What about petroleum companies ? They don't collude meh ?

 

Watchdogs same as running dogs lah. They will only go after those that they can bully.

 

No balls to tackle the MNCs.....

Edited April 16, 2008 by Darth_mel

[Mzrmazda3]

Most people buy Fa Gao only on eve of Lunar 1st & eve of Lunar 15th plus some other occasion niah as compared to petrol which we need to pump 3-6 days interval

 

Why target on these little things when they could have done better by switching their target board to somewhere else

[Mzrmazda3]

欺 弱 怕 强

 

[Apollo]

mebbe they refused to collude and sell under housebrand?

Edited April 16, 2008 by Apollo

[Mzrmazda3]

 

[Tunge]

tell those watchdog go investigate petroleum company instead of small cake company lah. Price fixing isn't it obvious enough??

this is TOTALLY dumb... they are so free to monitor fa gao pricing when petrol price fixing is freaking IN YOUR FACE and they are not doing anything.... argh... I.D.I.O.T.S

[Typhoonz]

Seems like these watchdogs are very selective in the things they watch for...

[Seaweed]

SMALL FLY vs BIG EAGLE !!!! U think people dare to go against BIG EAGLE ??? They run away...Half sillypore sink...

[Xefera]

provided the watchdog can get concrete evidence against the cartels, which i doubt they can