Under the agreement, both companies will set a joint venture company in Thailand towards this end, and offer services of South East Asia Logistics Network (“SEALNET”), a Web-based one-stop portal for total cargo and trade management services from DNeX, in Thailand. The joint venture company will be 49 per cent owned by DNeX.
Kuala Lumpur, 22 October 2018 – Dagang NeXchange Berhad (“DNeX”), through subsidiary company DNeXPORT Sdn Bhd, has signed a shareholders agreement with TIFFA EDI Services Co Ltd of Thailand to implement trade facilitation and cross border business.
Under the agreement, both companies will set a joint venture company in Thailand towards this end, and offer services of South East Asia Logistics Network (“SEALNET”), a Web-based one-stop portal for total cargo and trade management services from DNeX, in Thailand. The joint venture company will be 49 per cent owned by DNeX.
Targeted at businesses in the Trade Facilitation and Logistics sector, primarily exporters and importers and logistics service providers, SEALNET by DNeX converges supply chain and cross border logistics processes to simplify cargo and trade management processes.
At the signing agreement held earlier today in Bangkok, Thailand, DNeX was represented by its Executive Director Dato’ Patrick Wong while TIFFA EDI was represented by President of TIFFA Group Mr Suwit Ratanachinda and its Managing Director Mr Anusorn Lovichit.
SEALNET’s capabilities in total cargo and trade management can help users improve on their productivity, and on a larger scale create cross border business opportunities, according to Dato’ Patrick Wong.
“We are excited to firm up our partnership with TIFFA EDI and embark on facilitating cross border trade between Malaysia and Thailand. With SEALNET’s capabilities in total cargo and trade management, we can help create cross border business opportunities for Thailand and other countries in ASEAN as well,” he said.
SEALNET captures data from multiple sources – from the initial stage of importers’ and exporters’ invoicing and packing list through the forwarding and shipping journey, regulatory and agency clearance and approval, and up to the delivery point.
With this, customers can track and trace not only movement of goods but also electronic documents on these goods such as status of clearance from a single convenient point. It is also integrated with capability for seamless integration of all systems, applications, business partners and cloud services.
SEALNET can also make business and regulatory reporting easier, and is able to fast generate customised reports and statistics for either internal review or improved efficiency in audit.
