Kuala Lumpur (Jan 18): Dagang NeXchange Bhd (DNeX) is tapping into the Asian renewable energy market via a memorandum of understanding (MoU) with three companies. The move forms a part of DNeX's diversification into the energy sector.

In a statement today, DNeX, an e-commerce specialist, said its subsidiary Forward Energy Sdn Bhd signed the MoU with China Everbright International Ltd, Broadgate Engineering (M) Sdn Bhd and HydroChina International Enginnering Co Ltd.

DNeX said: "Under the MoU, the parties will collaborate and cooperate specifically in submitting business proposals for waste-to-energy technology projects in Malaysia and regional markets."

"Through the MoU, DNeX will be making the first step into the waste-to-energy sector with strong international partners, namely China Everbright and HydroChina, as the technology providers. Broadgate, meanwhile, is DNeX's partner for engineering and subcontracting works within Malaysia and in the region," DNeX said.

DNeX said it signed the MoU in Shenzhen, China, recently.

According to DNeX, power generation forms a portion of its energy sector diversification, which included upstream oil and gas (O&G) ventures, besides O&G support services.

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