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DNeX’s JV 1Trade Thailand signs MoU with CAT Telecom towards improved cross border trade

DNeX’s JV 1Trade Thailand signs MoU with CAT Telecom towards improved cross border trade

Cyberjaya, 20 November 2019 – 1Trade Thailand Company Limited (“1Trade Thailand”), a joint venture company of Dagang NeXchange Berhad (“DNeX”), has inked a memorandum of understanding (“MoU”) with CAT Telecom Public Company Limited (“CAT Telecom”) to provide a comprehensive cargo and trade management system in Thailand.

Through the partnership, 1Trade Thailand and CAT Telecom will implement a Trade Facilitation Platform and Air Community System for the trade and logistics community in that country.

In addition, the companies will undertake development of eServices such as trade finance as well as support and promote marketing to bring in customers from both the government and private sectors.

At the signing agreement held in Bangkok, Thailand recently, 1Trade Thailand was represented by its Chairman Mr Suwit Ratanachina, and CAT Telecom was represented by Dr Dhanant Subhadrabandhu, Senior Executive Vice President, Marketing and Service. Also present at the signing was Dato’ Patrick Wong, Executive Director of DNeX.

“The partnership between 1Trade Thailand and CAT Telecom can facilitate more efficient cross border trade for Thailand through the availability of a total cargo and trade management system that converges supply chain and cross border logistics processes to simplify cargo and trade management processes,” said Datuk Samsul Husin, Executive Deputy Chairman of DNeX.

He said the partnership will allow 1Trade Thailand and CAT Telecom to leverage on each other’s strengths to capture the trade and logistics community in Thailand.

“This is also in line with our initiatives to expand on cross border business, and overseas venture as well as creation of a new revenue stream for us,” he added.

In October last year, DNeX through subsidiary company DNeXPORT Sdn Bhd, signed a shareholders agreement with TIFFA EDI Services Co Ltd of Thailand to set up 1Trade Thailand, which is 49 per cent owned by DNeX.