By Yantoultra Ngui

SINGAPORE, March 19 (Reuters) - The Competition and

Consumer Commission of Singapore has not received notification

from ride and delivery companies Grab or GoTo

on a proposed merger, it said on Wednesday.

The commission said that it is aware of media reports

regarding a possible merger between the two companies, and that

the parties should seek legal advice on whether any proposed

merger complies with competition laws in Singapore.

"CCCS is open to engaging with the parties via our merger

notification and pre-notification discussion processes," it said

in an emailed statement to Reuters.

Singapore-headquartered Grab, which is backed by Uber ( UBER )

, and its smaller Indonesian rival GoTo, have reportedly

engaged in several rounds of talks over a potential merger.

GoTo reiterated on Wednesday that there was no agreement

with any party about a potential transaction after Bloomberg

News reported this week that Grab had begun due diligence to

take over GoTo.

If combined, Grab and GoTo would hold a market share of

almost 90 percent in Singapore and more than 91 percent in

Indonesia in the ride-hailing sector, according to Euromonitor

International.

CCCS in 2018 fined Grab and Uber ( UBER ) a combined S$13 million

($9.76 million) after Grab failed to notify it of its merger

with Uber ( UBER ), which substantially reduced competition in Singapore.

Last year, Grab called off its proposed acquisition of

Singapore's third-largest taxi operator, Trans-cab.

The commission said it can impose penalties of up to 10% of

the turnover of a company's business in Singapore for each year

of infringement, up to a maximum of three years, if a company is

found to have breached competition laws.

"Directions can be made under the law to remedy, mitigate or

eliminate the adverse effects arising from the merger, including

unwinding the merger," it said.

Where necessary, the CCCS could impose interim measures to

preserve market competition, it added.

Grab did not immediately respond to an emailed request

seeking comment. GoTo said it has no comment beyond its latest

disclosure to the stock exchange on Wednesday.

($1 = 1.3318 Singapore dollars)