TEN FOREIGN FREIGHT FIRMS caught price fixing, expected to pay fines over...

2014-12-12

The penalties amount to over 7m usd$ Ten foreign freight forwarding firms have been fined for price fixing by the Competition Commission of Singapore.

Apart from fixing certain fees and surcharges, the firms had also exchanged price and customer information in relation to the provision of air freight forwarding services for shipments from Japan to Singapore.

This is CCS’s second international cartel case involving foreign-registered companies and their Singapore subsidiaries or affiliates. The financial penalties amount to S$7,150,852.

Source: http://m.todayonline.com

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Source from : CNSS

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