KUALA LUMPUR: Dagang Nexchange Bhd (DNeX) has signed a memorandum of understanding (MoU) with Saudi Arabia-based Ajlan & Bros Holding Group (Abilitii) to explore business synergy between both companies.
Under the MoU, DNeX said both parties will look into business collaboration in such areas as technology, software products and platforms for facilitating trade, oil and gas production and trade, software development, system integration and consultation services.
In addition, the two companies will leverage on each other’s expertise to explore business opportunities and consider establishing a joint venture company (JVCo) in Saudi Arabia to achieve agreed-upon collaborative arrangements.
Group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said together with Abilitii, the group will explore the vast opportunities in Saudi Arabia namely efforts in the country’s modernisation and digitalisation as part of the Kingdom’s Vision 2030 through its services and solutions in technology consulting and system integration as well as trade facilitation.
“We intend to bring best practice from Malaysia and experience that we had accumulated through our decades-long experience in the sector and find ways to build, complement and enhanced the service offerings available in the Kingdom with the help of Abilitii,” he said in a statement.
“We are honoured to partner with Abilitii, as it enables us to combine DNeX Group’s technical know-how and expertise in the trade facilitation, system integration and oil and gas sector with Abilitii’s regional expertise, access to market and funding.
“Such partnership may also lead to both parties to find opportunities in the semiconductor industry in both Malaysia and Saudi Arabia,” Syed Zainal said.