DNeX to explore Middle East markets with UAE-based Estemarat

-A +A

KUALA LUMPUR (Jan 14): Dagang NeXchange Bhd (DNeX), through its unit Dagang Net Technologies Sdn Bhd, will be collaborating with United Arab Emirates (UAE)-based Estemarat Services LLC to explore the Middle East markets for DNeX services.

Under the collaboration, DNeX will serve as the solutions provider for Estemarat, in the provision of e-commerce services for trade facilitation and radio frequency identification (RFID) solutions.

In a statement today, DNeX said the two companies will first team up to undertake an assessment study with Egypt’s Ministry of Transportation, on the application and implementation of “secure and latest smart technology systems and applications to improve coordination, integration and connectivity between the transportation sector and the rest of sectors in Egypt”.

The Ministry of Transportation Egypt has signed a memorandum of understanding with Estemarat for the company and DNeX to undertake the assessment study, said DNeX.

At the signing ceremony held in Cairo, Egypt, DNeX said Estemarat was represented by its chairman Khamis bin Salem Alsuwaidi, while the ministry was represented by Dr Eng Maged Soltan, the minister’s information technology (IT) advisor.

DNeX was represented by DNeX RFID Sdn Bhd's chairman Datuk Roslan Ramli.

Through Dagang Net, DNeX currently operates Malaysia’s National Single Window, which facilitates electronic Customs-related transactions and duty payments.

The electronic document transfer between members of its trading community are made up of manufacturers, importers and exporters, forwarders, shipping agents, terminal and port operators, banks, port authorities, permit issuing agencies and the Customs.

DNeX RFID, on the other hand, provides a range of RFID solutions.

At 3.38 pm, DNeX shares were trading 0.5 sen or 2.08% lower at 23.5 sen, valuing the company at RM182.18 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations)