Mr Max Loh, Chairman of the Competition and Consumer Commission of Singapore,

Excellencies,

Distinguished Guests, Ladies and Gentlemen, 

 

Introduction

 

1          A very good evening to all of you. Thank you for inviting me to join you this evening to celebrate the 20^th anniversary of the Competition and Consumer Commission of Singapore (CCS).

 

2          The CCS was established in 2005 as the Competition Commission of Singapore to ensure fair competition and strengthen Singapore’s competitiveness.

 

3          Over the years, CCS’ role has evolved and expanded – from fair trading in 2018, to new roles such as consumer product safety as well as weights and measures this year.

 

4          These changes reinforce the importance of competition law and consumer protection for Singapore – not just as safeguards for businesses and individuals, but also as a key strength of our global competitiveness.  

5          As a small and open economy, we cannot compete on size and scale alone. Our competitiveness must also rest on the confidence that investors, businesses and consumers have in our system. Clear rules, fair enforcement, and well-functioning markets are key pillars of our economic success and resilience.

6          The world in which CCS operates today is very different from that in 2005 when it was first set up. Technology and new business models are reshaping competitive forces and market practices.

7          CCS’ role is not static – it must adapt its tools, improve its regulatory agility, and step up its regional and international engagements, so that our system remains credible and relevant in a fast-changing world.

Refreshing its toolkit

 

8          Take e-commerce as an example.

a.             Online shopping has become part of everyday life for Singaporeans, but it has also introduced new risks.

 

b.             Consumers can be misled by fake reviews, hidden charges, design features or algorithms that steer choices in ways that they are unaware of.

 

c.              Merchants too can face unfair practices from large platforms, where the balance of influence is tilted heavily against them.

 

d.             And with more transactions taking place online, scams have become a growing concern. 

 

9          To address these issues, we introduced a national standard – the Technical Reference 76 for E-commerce Transactions or TR76.

 

a.      The TR76 was first introduced in 2020 to provide guidelines for businesses and platforms, covering practices from pre- to post-purchase activities.

 

b.      This was revised in 2022 to include anti-scam guidelines for e-retailers and e-commerce marketplaces.

 

10        Tonight, I am pleased to announce that the TR76 has been further enhanced to strengthen safeguards for both consumers and merchants.

 

a.      The enhanced TR76 sets out clearer standards across the entire transaction journey.

 

                                                               i.                   It will provide guidance to businesses to address consumer concerns relating to how products are presented, such as headline descriptions and search rankings, as well as fake reviews and misleading design features.

 

                                                             ii.                   It will provide guidance to e-marketplaces and e-retailers on how to engage with merchants fairly and transparently, as well as on effective dispute resolution mechanisms. It will also guide these platforms on the appropriate use of automated tools and AI.

 

b.      This update was the result of a multi-stakeholder Working Group that was appointed by EnterpriseSG through the Singapore Standards Council. Among the stakeholders are industry players and associations, CASE, CCS and other Government agencies.

c.       I hope this update will provide consumers with greater confidence in their e-commerce transactions, and enable them to make more informed choices.

 

d.      I also hope that this update will provide businesses, especially smaller players, with fairer conditions to compete and grow.

 

11        In addition to the digital marketplace, CCS is also updating its tools in the physical marketplace.

 

a.             In this regard, CCS will be publishing a guide on quality-related claims soon to help businesses make accurate and substantiated claims on the qualities, uses and benefits of their products, including green claims.

 

12        These initiatives I’ve outlined illustrate how CCS is updating and enhancing its tools to keep our markets fair and trusted, especially as technology and business practices evolve rapidly.

 

Transforming service delivery

 

13        Just as importantly, we must make sure that regulation is delivered in a way that is clear, efficient and keeps pace with how businesses operate today.

 

a. Since 2007, CCS has reviewed over 100 merger notifications under its voluntary notification regime, with 80% cleared without conditions.

 

b.      I am therefore pleased to share that, building on its experience, CCS intends to focus on cases that are more likely to raise competition concerns, so that it can target its resources more effectively. This will enable it to reduce the compliance burden on businesses and processing time where possible.

 

c.       CCS also intends to streamline its enforcement work, by rolling out an enhanced settlement framework that offers stronger incentives for earlier resolution.

 

                                       i.                   This will incentivise faster case resolution, reduce legal and administrative costs for businesses, and enable CCS to dedicate its resources to focus on more complex cases.

 

                                     ii.                   Faster settlements also mean markets and consumers will benefit from greater certainty sooner.

 

d.      CCS will share more details and conduct a public consultation on these proposals before finalising the changes.

 

14        Together, these initiatives will help businesses move more quickly to seize new opportunities, while ensuring that competition continues to be fair and consumers’ interests are protected.

 

Stepping up regional and international engagement

 

15        The challenges of emerging digital platforms, rapid technological change and geopolitical uncertainties are not unique to Singapore. Regulators around the world are grappling with similar issues and challenges.

 

a.            Within ASEAN, CCS has been working with its counterparts to build capacity and promote greater consistency in competition laws. This will reduce barriers for businesses that operate across the region, and complement our efforts to facilitate and deepen trade within ASEAN.

 

b.             Globally, CCS has been active in the International Competition Network (ICN), sharing Singapore’s perspectives, and contributing to the development of best practices.

 

 i.                CCS’s Chief Executive Alvin Koh was recently elected as Vice-Chair of ICN.

 

 ii.            This new role will allow CCS to further demonstrate its thought leadership, and help shape international norms in the field of competition and consumer protection. 

 

Closing

 

16        As we celebrate CCS’ 20^th anniversary, I would like to congratulate the Board, the management, and all the staff of CCS for the good work that has been done over the past two decades.

 

17        By continuously adapting its tools, strengthening its regulatory agility, and contributing to regional and international frameworks on competition law, CCS will help ensure that our markets remain fair, trusted and resilient.

 

18        This will give businesses the confidence to invest and innovate, provide consumers the assurance that their interests are safeguarded, and ensure that Singapore can continue to preserve our competitiveness on the global stage.

 

19        Thank you.