KUALA LUMPUR, Feb. 28 -- The Malaysia Competition Commission (MyCC) has fined eight companies RM92.8 million for participating in a bid-rigging cartel involving government tenders.

According to The Star, MyCC chief executive officer Iskandar Ismail said investigations found the companies had violated Section 4 of the Competition Act 2010 by manipulating three government tenders worth about RM474 million.

"Following an extensive investigation, MyCC has imposed a total financial penalty of RM92,876,078.90 on the infringing enterprises," he was quoted as saying.

The eight companies involved are Dutamesra Bina Sdn Bhd, IDX Multi Resources Sdn Bhd, Mangkubumi Sdn Bhd, Menang Idaman Sdn Bhd, Meranti Budiman Sdn Bhd, Pintas Utama Sdn Bhd, NYL...