Malaysia’s general competition law, the Competition Act of 2010, does not contain any merger control provisions. However, amendments to the Competition Act is currently being discussed at the Malaysian Parliament which will introduce a merger control regime in Malaysia administered and enforced by the Malaysian Competition Commission (MyCC).

There are also merger control provisions in the 2010 Malaysian Aviation Commission Act (MACA) and the Communications and Multimedia Act, 1998, specific to the aviation and communications industry, respectively.

No data available.

There are 3 avenues in which MyCC will be able to assess an M&A transaction:

1. Mandatory notification of anticipated merger that exceeds the notification threshold;
2. Voluntary notification of anticipated merger that does not exceed the notification threshold; and
3. Voluntary notification of merger that does not exceed the notification threshold.

In assessing the merger, MyCC will be using the “substantial lessening of competition” test (SLC).

The periods and timelines of review are as follows:

1. 120 working days for mandatory notification of anticipated merger
   
   Phase 1: 40 working days
   
   Phase 2: 80 working days
2. 150 working days for voluntary notification of anticipated merger
   
   Phase 1: 60 working days
   
   Phase 2: 90 working days

Under MACA and CMA, notification with the authorities are voluntary at any time before an anticipated transaction that exceeds the notification threshold is carried into effect. MACA is based on turnover while the CMA prescribes a market share based threshold.

The draft merger control law which will be enforced by the MyCC exempts the following sectors:

1. Communication and multimedia sector;
2. Energy relating to gas supply and electricity supply;
3. Upstream petroleum operations;
4. Aviation sector;
5. Postal services sector;
6. Water services sector;
7. Mergers involving banks, insurance companies and investment banks; and

Mergers involving institutions that is part of the Malaysian capital markets framework such as the Bursa Malaysia (a private enterprise that runs Malaysia’s stock exchange platform) and clearing houses