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DNeX to appeal MyCC’s decision

Dagang Net Technologies Sdn Bhd, a wholly-owned subsidiary of Dagang NeXchange Berhad (“DNeX”), had on 26 February 2021 received a Notice of Finding of an Infringement from the Malaysian Competition Commission (“MyCC”) pursuant to Section 40 of the Competition Act 2010, and been imposed a penalty of RM10.3 million.

We would like to affirm that Dagang Net has always conducted its business in full compliance with all relevant laws and regulations.

In consultation with our external legal counsels, we will take all necessary and appropriate actions to appeal against the decision.

We would like to assure all our customers that services provided by Dagang Net will operate as usual.

Dagang Net has been the operator of Malaysia’s National Single Window (“NSW”) for Trade Facilitation since 2009. Connected to Sistem Maklumat Kastam, the NSW for Trade Facilitation facilitates and eases electronic Customs-related transactions and duty payments, and electronic document transfer in the country’s vibrant trading community made up of such members as manufacturers, importers & exporters, forwarders, shipping agents, terminal & port operators, banks, port authorities, permit issuing agencies and Customs.

DNeX’s full Bursa announcement issued today as per the link below:

26 February 2021