KUALA LUMPUR (May 5): NetX Holdings is partnering with China-based E-DO Business Technology Corp to provide e-commerce online payment, e-wallet and loyalty programme solutions services in Cambodia, Malaysia and Thailand.

In a filing with Bursa Malaysia today, NetX's subsidiary Payallz Sdn Bhd entered into a technology partnership agreement with E-DO, which specialises in the provision of payment services for Alipay, WePay and Union Pay.

The project costs and detailed investment terms of each available site shall be determined on a case-to-case basis mutually between the parties, said NetX.

"The partnership agreement is for an initial period of one year and renewed annually, commencing on the date of this agreement, unless otherwise mutually extended or terminated," said NetX.

NetX said the agreement will not have material effect on the company's issued and paid-up capital, earnings and net assets for the financial year ending June 30, 2017.

Shares in NetX closed up 2.5 sen or 50% to 7.5 sen today, with 267.26 million shares traded for a market capitalisation of RM43.79 million.