An Allied Electronics- (Altron-) commissioned independent investigation has cleared the group’s subsidiaries of alleged collusion in the 2015 set-top box (STB) tender for government’s digital terrestrial television (DTT) project.
Altech UEC had failed in its bid for the DTT tender in 2014; however, allegations of collusion emerged late last year, which subsequently led to the launch of a Competition Commission investigation into three Altron subsidiaries and 12 other businesses.
Altron appointed law firm Bowmans to conduct an independent investigation into the allegations following the November raids by the Competition Commission on its subsidiaries and the other businesses.
Bowmans’ investigation concluded that there was no anticompetitive conduct on the part of these entitles, particularly with regard to tender collusion or price fixing.
“The Altron board is satisfied with this finding and again confirms that Altron obeys the laws and regulations of all countries in which it operates and remains committed to uncompromising ethical business practices through stringent corporate governance,” the company said in an update to shareholders on Thursday.