KUALA LUMPUR (Nov 20): Dagang NeXchange Bhd (DNeX) is teaming up with Thailand's state-owned CAT Telecom Plc to provide a comprehensive cargo and trade management system in that country.

1Trade Thailand, which is 49% owned by DNeX, has inked a memorandum of understanding (MoU) with CAT Telecom, for both companies to implement a Trade Facilitation Platform and Air Community System for the trade and logistics community in Thailand.

"In addition, the companies will undertake the 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," DNeX said in a statement today.

DNeX executive deputy chairman Datuk Samsul Husin said the partnership 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.

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.

Last October, DNeX's subsidiary DNeXPORT Sdn Bhd signed an agreement with Thailand's TIFFA EDI Services Co Ltd to set up 1Trade Thailand.

1Trade Thailand's main offering is South East Asia Logistics Network (SEALNET), a Web-based one-stop portal for total cargo and trade management services from DNeX, said the company.

Targeted at businesses in the trade facilitation and logistics sector, primarily exporters and importers and logistics service providers, SEALNET converges supply chain and cross-border logistics processes to simplify cargo and trade management processes.

Shares of DNeX closed one sen or 3.57% higher at 29 sen today, valuing the group at RM509.85 million. Some 22.57 million shares were traded.