Lionflyer Neutral Newbie March 28, 2013 Share March 28, 2013 http://www.channelnewsasia.com/stories/sin...1262831/1/.html SINGAPORE: The Competition Commission of Singapore has penalised 12 motor vehicle traders for engaging in bid-rigging activities at public auctions, contravening the Competition Act. CCS said the action by the traders not to outbid each other created the false impression that the winning bids were actually the result of a fair and competitive bidding process. This resulted in lower bids for the motor vehicles for the government agencies whose public auctions were affected. The infringements were conducted over a period of three years from January 2008 to March 2011. The traders have been fined some S$180,000. The CCS said investigations started in May 2010. It received information from various agencies, including the Land Transport Authority, the National Environment Agency, Singapore Civil Defence Force, Singapore Customs and the Singapore Police Force. Investigations showed that the traders entered into an agreement to refrain from bidding against each other at public motor vehicles auctions held by the government agencies. A sole bidder, usually Pang's Motor Trading, would bid for the vehicles after which the traders would conduct their own "private" auctions for the vehicles that were earlier won at the public auctions. The difference in the bid price of the vehicles between the public auctions and the "private" auctions would be put into a common pool and shared amongst those present at the "private" auctions. Pang's Motor Trading was fined the most, S$50,733. It was followed by Tim Bock Enterprise, which was fined S$37,795. Most of the other traders -- namely Auto & Carriage Engineering, Gold Sun Motor Vehicle Charter & Rental, Hup Lee Second Hand Auto Parts, Kiat Lee Scrap Vehicles Centre Pte Ltd, Minsheng Agencies, PKS Scrap Vehicle Centre, Seng Guan Auto Parts and Seng Hup Huat Second Hand Auto Parts -- were fined S$8,000. The remaining two traders are Kiat Lee Machinery Pte Ltd and Yong Soon Heng Auto Parts, who were fined S$17,566 and S$8,977 respectively ↡ Advertisement Link to post Share on other sites More sharing options...
Hamburger Hypersonic March 28, 2013 Share March 28, 2013 too late...... Link to post Share on other sites More sharing options...
Glyuen 3rd Gear March 28, 2013 Share March 28, 2013 this is just the tip of the iceberg 1 Link to post Share on other sites More sharing options...
Darthrevan Supercharged March 28, 2013 Share March 28, 2013 the fine is just a slap on the wrist..the amount of monetary gains these dealers generated could be much larger than the fines Link to post Share on other sites More sharing options...
Evillusion Supersonic March 28, 2013 Share March 28, 2013 (edited) how come starhub and singtel never kana for bid-rigging? :angry: :angry: oh! sorry sorry....they cheat the people not the gov! so its ok. Edited March 28, 2013 by Eviilusion 5 Link to post Share on other sites More sharing options...
Blackyv Turbocharged March 29, 2013 Share March 29, 2013 how come starhub and singtel never kana for bid-rigging? :angry: :angry: oh! sorry sorry....they cheat the people not the gov! so its ok. Why no body mention oil cartel huh?... all brand offer the same base price all the time but not investigated... oops.. yahor.. they cheat public money, not gov... so its ok... 4 Link to post Share on other sites More sharing options...
Evillusion Supersonic March 29, 2013 Share March 29, 2013 Why no body mention oil cartel huh?... all brand offer the same base price all the time but not investigated... oops.. yahor.. they cheat public money, not gov... so its ok... hahaha.....where got oil cartel in sg....government say they are innocent of all charges what! how can we say otherwise! Link to post Share on other sites More sharing options...
Lionflyer Neutral Newbie March 29, 2013 Author Share March 29, 2013 It makes the whole issue of begging MAS for help because of the loan restrictions seem a tad hypocritical. 1 Link to post Share on other sites More sharing options...
Raymondism Twincharged March 29, 2013 Share March 29, 2013 http://www.channelnewsasia.com/stories/sin...1262831/1/.html SINGAPORE: The Competition Commission of Singapore has penalised 12 motor vehicle traders for engaging in bid-rigging activities at public auctions, contravening the Competition Act. CCS said the action by the traders not to outbid each other created the false impression that the winning bids were actually the result of a fair and competitive bidding process. This resulted in lower bids for the motor vehicles for the government agencies whose public auctions were affected. The infringements were conducted over a period of three years from January 2008 to March 2011. The traders have been fined some S$180,000. The CCS said investigations started in May 2010. It received information from various agencies, including the Land Transport Authority, the National Environment Agency, Singapore Civil Defence Force, Singapore Customs and the Singapore Police Force. Investigations showed that the traders entered into an agreement to refrain from bidding against each other at public motor vehicles auctions held by the government agencies. A sole bidder, usually Pang's Motor Trading, would bid for the vehicles after which the traders would conduct their own "private" auctions for the vehicles that were earlier won at the public auctions. The difference in the bid price of the vehicles between the public auctions and the "private" auctions would be put into a common pool and shared amongst those present at the "private" auctions. Pang's Motor Trading was fined the most, S$50,733. It was followed by Tim Bock Enterprise, which was fined S$37,795. Most of the other traders -- namely Auto & Carriage Engineering, Gold Sun Motor Vehicle Charter & Rental, Hup Lee Second Hand Auto Parts, Kiat Lee Scrap Vehicles Centre Pte Ltd, Minsheng Agencies, PKS Scrap Vehicle Centre, Seng Guan Auto Parts and Seng Hup Huat Second Hand Auto Parts -- were fined S$8,000. The remaining two traders are Kiat Lee Machinery Pte Ltd and Yong Soon Heng Auto Parts, who were fined S$17,566 and S$8,977 respectively Pang's motor? i sold my first car to Mr Pang..... Link to post Share on other sites More sharing options...
Twnll 1st Gear March 29, 2013 Share March 29, 2013 Who blow the whistle? Probably one of the 'partners' who did not get the COE. How else can the commission find out? I don't see anything illegal. 2 Link to post Share on other sites More sharing options...
Raymondism Twincharged March 29, 2013 Share March 29, 2013 Who blow the whistle? Probably one of the 'partners' who did not get the COE. How else can the commission find out? I don't see anything illegal. anti-competition??? Link to post Share on other sites More sharing options...
Mcf777 Turbocharged March 29, 2013 Share March 29, 2013 Are all these Chiong Kong (confiscate) vehicle by the mata? example drug or criminal vehicle? Link to post Share on other sites More sharing options...
Briansoh 1st Gear March 29, 2013 Share March 29, 2013 I think there are chiong kong ones bust mainly the retired and deregistered police/TP/civil defense vehicles. Those old corollas and bikes in other words. Link to post Share on other sites More sharing options...
Sabian Turbocharged March 29, 2013 Share March 29, 2013 Wait got new MCF member come in and protest innocence and defend them. Link to post Share on other sites More sharing options...
Blackyv Turbocharged March 29, 2013 Share March 29, 2013 Wait got new MCF member come in and protest innocence and defend them. Where got time now.... busy raising fund for the fine... Link to post Share on other sites More sharing options...
Pisces69 6th Gear March 29, 2013 Share March 29, 2013 how come starhub and singtel never kana for bid-rigging? :angry: :angry: oh! sorry sorry....they cheat the people not the gov! so its ok. And e oil cartel. Ty also cheat pple not gharmen. In fact ty pay high taxes so gharmen sarpok them like brothers. SG its ok to cheat e pple. Gharmen does it all e time. But u cheat gharmen n ty come after u like a hungry shark. 1 Link to post Share on other sites More sharing options...
Pisces69 6th Gear March 29, 2013 Share March 29, 2013 Why no body mention oil cartel huh?... all brand offer the same base price all the time but not investigated... oops.. yahor.. they cheat public money, not gov... so its ok... Gharmen sarpok oil cartel cos ty brothers. Both cheat e pple so its ok. Afterall cheating pple in SG is ok. Just dun cheat gharmen. Link to post Share on other sites More sharing options...
Mustank Hypersonic March 29, 2013 Share March 29, 2013 Where got time now.... busy raising fund for the fine... I thot the fine is on those pte ltd gong see and not the directors themselves? ↡ Advertisement Link to post Share on other sites More sharing options...
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