Kuala Lumpur, 18 December 2019 – Export-Import Bank of Malaysia Berhad (“EXIM Bank”) has entered into a collaboration agreement with Dagang NeXchange Berhad (“DNeX”), through DNeX’s subsidiary company SEALNET Sdn Bhd (“SEALNET”), to offer its trade finance and insurance products and services online for the trade facilitation and logistics community.
Under the agreement, financial and insurance products and services provided by EXIM Bank will be integrated into the SEALNET portal, and is expected to go live by mid 2020.
The agreement was signed earlier today in Kuala Lumpur and witnessed by Deputy Minister, Ministry of International Trade and Industry, Yang Berhormat Dr Ong Kian Meng.
At the signing, EXIM Bank was represented by Chairman Dato’ Feizal Mustapha and President/Chief Executive Officer Dato’ Nazri Abdul Rahim, while DNeX was represented by its Executive Director Dato’ Patrick Wong and Dato’ Haji Chik Omar Chik Lim, Chairman of SEALNET Sdn Bhd.
The SEALNET portal is a Web-based digital platform for total cargo and trade management services that connects exporters and importers with all relevant parties, such as freight forwarders and customs, and enables the exchange of trade data digitally. Targeted at businesses in the trade facilitation and logistics sector, SEALNET converges supply chain and cross-border logistics processes to simplify cargo and trade management systems and approaches.
On this game-changing alliance, Dato’ Nazri said: “The collaboration with DNeX is in line with efforts to meet our mandate in stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services. The arrangement of finances and insurance will be streamlined through one single platform to better enable and empower cross-border businesses in a speedy manner.”
“We are pleased to be working with EXIM Bank to further advance growth of businesses in the trade facilitation and logistics sector. Leveraging on DNeX’s experience in trade facilitation, SEALNET was introduced to provide an integrated, Web-based business-to-business (“B2B”) solution that seamlessly connects domestic and international logistic communities. With this collaboration, we are now able to increase the efficiency of financing by reducing the processing cost and time, as well as offer our customers value-added services that will assist their businesses to grow,” said Dato’ Patrick Wong.
The event was also attended by senior officials of MITI, the Board members and senior management teams of EXIM Bank, DNeX and SEALNET.