PETALING JAYA: Dagang Nexchange Bhd's (DNeX) shares fell 2.46% to 39.5 sen this morning, after its wholly owned subsidiary Dagang Net Technologies Sdn Bhd obtained an extension of time until Sept 3 to make an oral representation to the Malaysia Competition Commission (MyCC) with regard to a proposed RM17.4 million fine for alleged abuse of dominant power.
 
At 10.40am the stock was trading at 40 sen with 1.62million shares done.

DNeX is challenging MyCC's proposed decision.

MyCC alleged that Dagang Net abused its position as a monopoly in the provision of trade facilitation services under the National Single Window, refusing to supply electronic mailboxes to end users of the Customs Information System, and imposing barriers to entry to the extent that may harm competition.

Dagang Net was also provisionally found to have imposed an exclusivity clause on its business partners, which would have had the effect of distorting competition in an upcoming market by creating barriers to entry for Dagang Net's competitors.

MyCC proposed a directive on Dagang Net to cease and desist the infringing conduct of imposing any future clauses in its MyChannel Partner Agreements and any future conditions that new and/or additional mailboxes will not be provided to end users.

It also proposed for Dagang Net's directors and senior management to enrol into a competition law compliance programme and training within three months.