KUALA LUMPUR (Sept 24): Dagang NeXchange Bhd's (DNeX) 51%-owned subsidiary DNeX RFID Sdn Bhd has teamed up with Universiti Teknologi Mara (UiTM) to collaborate on information technology (IT)-based research.

Under a memorandum of understanding (MoU) signed between the two parties today, both DNeX RFID and UiTM will undertake research, product commercialisation, and business venture activities, as well as explore establishing strategic long-term projects.

"In addition, both parties will discuss business opportunities by leveraging on expertise, competency and experiences to develop strategic and sustainable industry collaborative platform," said DNeX in a statement today.

DNeX executive deputy chairman Datuk Samsul Husin said the group is looking to set up research and development capability to enhance and improve its offerings to customers.

"The partnership with UiTM is a very strategic move in the right direction for our long-term business sustainability," he added.

He said this partnership will also leverage on strengths and expertise of both parties in their respective fields who will also work together in efforts to improve competency and skills to meet industry demand.

"We welcome such platform of collaboration between academia and industry and we look forward to working with DNeX in advancing IT solutions through strategic research and commercialisation activities," said UiTM vice-chancellor Professor Emeritus Dr Mohd Azraai Kassim.

He said the collaboration will also provide opportunities for both parties to undertake development of workforce with relevant expertise and knowledge for Industry 4.0.

At 4.55pm, DNeX shares were up 0.5 sen or 1.82% at 28 sen, with 6.52 million shares done, bringing a market capitalisation of RM 492.25 million.