KUALA LUMPUR (Dec 18): Export-Import Bank of Malaysia Bhd (Exim Bank) has signed an agreement with Dagang NeXchange Bhd (DNeX) through DNeX’s subsidiary, SEALNET Sdn Bhd to offer trade finance and insurance products and services online to boost the logistics segment.

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.

EXIM Bank president/chief executive officer Datuk Nazri Abdul Rahim said that with the agreement in place, financial and insurance products and services provided by Exim bank will be intergrated into the SEALNET portal.

“The collaboration is expected to go live by mid 2020,” he said in a statement today.

“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,” Nazri said.

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.

The signing of the agreement was witnessed by Deputy International Trade and Industry Minister Dr Ong Kian Ming.