PRETORIA, South Africa's Competition Commission says Anglo-Dutch consumer goods multinational Unilever must pay a fine of 10 per cent of its annual turnover in this country after it found that Unilever and the local subsidiary of Malaysia's Sime Darby had entered in a sale agreement not to compete with each other.
The Commissioner of the Competition Commission, Tembinkosi Bonakele, said here Wednesday that it was currently seeking measures to prevent further occurrences of similar cases.
He said the commission had already settled with Sime Darby last year. "They have admitted everything and they have paid the fine. We are now going for Unilever," added Bonakele.
"Now, the next thing is to make sure that this doesn't happen again and the first thing is to increase fines. But the next level, I suppose is going to be how to get people who are involved personally liable."
Sime Darby Hudson & Knight Pty Ltd, the local subsidiary of Malaysian conglomerate Sime Darby Berhad, disclosed in April 2014 that its subsidiary was being investigated for alleged contravention of South Africa's Competition Act.
Source: NAM NEWS NETWORK