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On Top of Our Game 26
We Ensure Players Play by the Rules
Manufacturing: Ball and Roller Bearing Industry
The $9.3 Million Penalty nature of the infringement Summary of Financial
Penalties Imposed on the
Price-fixing is one of the most and the circumstances in
serious infringements of the which the infringement was Parties
Competition Act. This case also committed, the duration of the
marked CCS’s first international infringement, aggravating and undertaking Financial
cartel case in the manufacturing mitigating factors, as well as Penalty
sector that involved foreign- representations made by the Koyo Nil
Parties. In addition, reductions
registered companies and
Nachi
their Singapore subsidiaries. On in financial penalties were S$7,564,950
27 May 2014, CCS issued an given to the three leniency NSK S$1,286,375
Infringement Decision against applicants as part of CCS’s NTN S$455,652
the four Japanese manufacturers leniency programme. The first Total S$9,306,977
and their Singapore subsidiary undertaking to notify CCS was
companies, and imposed a granted full immunity from the
total penalty of $9.3 million on financial penalties while the
them. In levying the financial subsequent leniency applicants
penalties, CCS took into
were given reductions of up to
account factors such as the 50% of the financial penalties.
Case Team Members (From Left to Right): Lynette Chua, Assistant Director, Legal & Enforcement; Loy Pwee Inn, Senior
Assistant Director, Policy & Markets; Serene Seet, Senior Assistant Director, Legal & Enforcement; Lim Wei Lu, Competition
Analyst, Policy & Markets; Stephanie Christine Panayi, Principal Legal Counsel, Legal & Enforcement; Soh Yan Wei, Assistant
Director, Business & Economics
We Ensure Players Play by the Rules
Manufacturing: Ball and Roller Bearing Industry
The $9.3 Million Penalty nature of the infringement Summary of Financial
Penalties Imposed on the
Price-fixing is one of the most and the circumstances in
serious infringements of the which the infringement was Parties
Competition Act. This case also committed, the duration of the
marked CCS’s first international infringement, aggravating and undertaking Financial
cartel case in the manufacturing mitigating factors, as well as Penalty
sector that involved foreign- representations made by the Koyo Nil
Parties. In addition, reductions
registered companies and
Nachi
their Singapore subsidiaries. On in financial penalties were S$7,564,950
27 May 2014, CCS issued an given to the three leniency NSK S$1,286,375
Infringement Decision against applicants as part of CCS’s NTN S$455,652
the four Japanese manufacturers leniency programme. The first Total S$9,306,977
and their Singapore subsidiary undertaking to notify CCS was
companies, and imposed a granted full immunity from the
total penalty of $9.3 million on financial penalties while the
them. In levying the financial subsequent leniency applicants
penalties, CCS took into
were given reductions of up to
account factors such as the 50% of the financial penalties.
Case Team Members (From Left to Right): Lynette Chua, Assistant Director, Legal & Enforcement; Loy Pwee Inn, Senior
Assistant Director, Policy & Markets; Serene Seet, Senior Assistant Director, Legal & Enforcement; Lim Wei Lu, Competition
Analyst, Policy & Markets; Stephanie Christine Panayi, Principal Legal Counsel, Legal & Enforcement; Soh Yan Wei, Assistant
Director, Business & Economics
