KUALA LUMPUR: Dagang Nexchange Bhd
’s (DNeX) wholly owned subsidiary, Dagang Net Technologies Sdn Bhd (DNT), has entered into an agreement with Shanghai E&P International Inc (E&P) to provide cross-border trade facilitation solutions.
In a filing with Bursa Malaysia, DNeX said the agreement is with the intent to collaborate on exploring the provision of cross-border trade facilitation solutions and exchange connecting enterprises in Malaysia with their counterparts in China.
“The collaboration shall become effective on the date of the agreement and shall, unless sooner terminated in accordance with the agreement, continue for a period of one year as the parties may extend the term by mutual agreement made in writing,” the company said.
DNeX said the vision behind the agreement is a cross-border visualisation of sea freight logistics movements and the carbon footprint impact between Malaysian and China ports.
“Through the agreement, we envision cooperation and connectivity for cross-border clearance facilitation to Shanghai and other regional e-ports in China, as well as trade documents exchange to facilitate clearance and utilisation in both trade and non-trade processes,” it said.
DNeX also said the entry into the agreement forms a basis of commitment by the parties for the collaboration and exploration of cross-border trade facilitation solutions by creating a mutual understanding of the strategy and business needs.
This will enable a broader understanding of the benefits of working with each other for mutual benefit.
“The agreement will not have any material effect on the net assets per share and gearing of the company for this year, and it is not expected to have any material effect on the company’s earnings per share for this year,” the company added. — Bernama
