Philippines becoming a regional leader in antitrust enforcement — report
MANILA, Philippines — The Philippines is gaining headway in the region in monitoring mergers and enforcing antitrust laws, a new report said.
According to findings of 2019 “Global Trends Monitor” report published by competition news and analysis company PaRR, the Philippines climbed three notches to 5th place in 2018 out of 10 Asia-Pacific economies in terms of antitrust enforcement and policy developments.
Another “noticeable climber” was Indonesia, which ranked 6th last year from 7th in 2017. China took the top spot, followed by India, Australia and South Korea.
In its report, PaRR took note of the steps taken by the Philippine Competition Commission to strengthen its power, as well as the cases that the country’s competition watchdog looked into.
“The Philippine Competition Commission is strengthening its enforcement framework this year with the introduction of a leniency program and the addition of rules on forbearance and dawn raids to its arsenal of investigative tools,” the report read in part.
“The PCC will see an increase enforcement activity as a result of leniency and dawn raids. The agency plans to prioritize supply chain logistics, corn milling and trading, petroleum refining, manufacturing and trading, sugar and pesticides for competition analysis and enforcement in 2019,” it added.
“It is already closely monitoring activity in the agricultural sector, with an emphasis on the rice and garlic trade. The liner shipping sector is expected to apply for a block exemption order once the forbearance rules are released.”
In early 2018, the PCC began its review of ride-hailing firm Grab’s acquisition of rival Uber to address anti-competitive concerns.
In 2018 alone, the antitrust body received 40 mergers and acquisition (M&A) transactions, cumulatively worth P438 billion, of which 33 were approved.
The PCC also last year released revised guidelines for the mandatory notification of M&A deals, raising the threshold for the size of person to P5 billion and the size of transaction to P2 billion.
FROM BUSINESSWORLD: With higher threshold, PCC expects number of M&A notifications to drop
— Ian Nicolas Cigaral
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