OCT - 2011
In June 2010, the Competition Commission of Singapore (CCS) ruled against SISTIC for abuse of its dominant position in the market and acting anti–competitively. CCS imposed on SISTIC a fine of $989,000 for requiring various event promoters and venue operators to engage its ticketing services exclusively.
The much–anticipated hearing of the appeal against the ruling by CCS commenced on 26th September 2011 and heard by the Competition Appeal Board (CAB). It saw counsel for SISTIC argue that the contracts with venue operators allowed for termination without reason by 6 months‘ notice. Also, the exclusive contracts should not be viewed as anti–competitive as the contracts were entered into pursuant to negotiations between the parties and awarded based on merit. He also asserted that SISTIC‘s dominance was not a certainty, citing the increasing distribution channels of the competitors.
Singapore has recently been ranked first in Asia and second in the World for the protection of intellectual property. The findings were taken from an annual competitiveness survey covering 142 countries that was released by the Geneva-based World Economic Forum (WEF). Singapore‘s overall competitiveness moved up a notch to second place, as did its IP protection capability.