King & Wood Mallesons on how the construction industry should prepare for Hong Kong’s new competition regime
The appointments of the chairperson and members of the Competition Commission were announced a few days ago.
The chairperson, Anna Wu, is a non-official member of the Executive Council and was previously chairperson of the Equal Opportunities Commission and the Consumer Council. Hong Kong will move quickly now to fully implement the Competition Ordinance — passed last year but as yet not in effect — by the end of 2013 or early 2014.
The construction industry is likely to be an early target, as bid rigging and other cartel-like practices have been in the regulatory limelight recently. Take, for example, the South African investigation into over 20 companies for bid-rigging and collusion, out of which a number of companies have admitted to bid-rigging a week ago; the Malaysian regulator stating that bid-rigging will be a focus for 2013 and the Singaporean regulator’s latest enforcement last month on suppression of bids…
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