The Competition Commission of Singapore (CCS) has fined a cartel of 14 electrical and building works companies a total of US$190,000 for rigging bids.The companies were found to have colluded on tender bids for ten projects from July 2007 to April 2009.
CCS began investigating the cartel after receiving a tip-off from one of the companies concerned, Arisco, which revealed that its previous management had entered into bid-rigging arrangements with other companies to co-ordinate the price of quotations. Full Story
