DNeX to challenge MyCC over RM17m fine for monopoly

KUALA LUMPUR: Dagang NeXchange Bhd (DNeX) will challenge the proposed RM17.39mil fine to be imposed by the Malaysia Competition Commission (MyCC) for alleged monopoly abuse by its subsidiary.

The MyCC had proposed to fine Dagang Net Technologies Sdn Bhd for abusing its position as a monopoly in the provision of trade facilitation services under the National Single Window (NSW).

DNeX announced on Thursday the proposed decision was not final as Dagang Net was given until Aug 20 to submit its written representation and also indicate to MyCC if it wanted to make an oral representations before MyCC.

“The company and Dagang Net in consultation with their externallegal counsel will take all necessary and appropriate actions to challenge the proposed decision,” it said.

Shares of DNeX fell two sen to 37.5 sen at midday.

On Wednesday, MyCC said in a statement the probe into Dagang Net was undertaken after it received complaints.

MyCC has also proposed to impose a directive on Dagang Net to cease and desist its infringing conduct and any future conduct which may disrupt competition in the present and future market.

In addition, it has proposed that the directors and senior management of Dagang Net and its related companies undergo a competition law compliance programme within three months of the issuance of the proposed decision.

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