PETALING JAYA: MNC Wireless Bhd and M3 Technologies (Asia) Bhd (M3Tech) have emerged as among the first technology firms to establish a presence in the Malaysia Digital Free Trade Zone (DFTZ) after entering a memorandum of understanding (MoU) for the development of an e-commerce platform.
In a filing with the exchange, MNC said that the collaboration would entail an inclusive e-commerce platform with integrated payment gateway solutions and end-to-end logistics support, which will be operated in the DFTZ.
M3Tech, which was incorporated in 1999, is a specialised mobile value-added service provider with hardware capabilities and is listed on the Ace Market. As a mobile content provider, the firm covers a wide range of consumer, enterprise and partnership products and services.
Its business encompasses a wide range of mobile solutions and platforms catering to various segments from business-to-business and business-to-consumer supported by hardware capabilities, providing a seamless experience across the whole value chain.
According to MNC, the MoU is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of MNC for the financial year ending Dec 31, 2017.
The DFTZ is a newly established site to cater to the growth in Malaysia’s e-commerce and other technology markets. As the first DFTZ outside of China, the venture has the potential to double the growth rate of Malaysian SME exports by 2025.
The zone comprises three components, namely the e-Fulfillment hub, satellite services hub, and a virtual zone for the e-services platform.
The share prices of the respective companies had advanced in recent days prior to the announcement. MNC’s shares closed down 0.5 sen to eight sen apiece on Wednesday, while its warrants closed unchanged at 4.5 sen.
M3Tech’s stock, meanwhile, closed down 0.5 sen to eight sen, while its warrants closed unchanged at five sen.