The Board of Directors of Dagang NeXchange Berhad wishes to announce that Dagang Net Technologies Sdn. Bhd., a subsidiary of the Company had on 18 October 2023 accepted the Letter of Acceptance (“the Letter”) from Port Klang Authority ("PKA") in relation to the supply, install, develop, configure, integration, migration, testing, commission, maintain and implement the Malaysia Maritime Single Window Phase 1 (“MMSW”) for the Ministry of Transport of Malaysia (“MMSW Project”).

PKA was duly appointed as the executing agency to carry out Phase 1 of the MMSW system on behalf of the Ministry of Transport Malaysia.

The tenure of the MMSW Project is for a period of three (3) years and six (6) months from 23 October 2023 to 22 April 2027. The total value of the MMSW Project amounts to RM18,075,544.00.  

MMSW is a unified digital platform to facilitate trade and shipping services at the national level. A central digital database will be developed to facilitate end-to-end information flow which in turn will serves as a one-stop portal through a single sign-on and single submission for maritime regulatory and port services transactions.

The Board of Directors is of the view that the acceptance of the MMSW Project is in the best interest of the Company and its subsidiaries (collectively referred to as “the Group”), and will further complement DNeX Group’s existing National Single Window system in processing international trade through a single window so as to reduces cargo release time, cost of doing business and increase competitiveness and efficiency of the Country’s trade network which will create value for industry players and government agencies. Accordingly, the Board of Directors expect the MMSW Project to contribute positively to the earnings and net assets per share of the Group for the financial years ending 31 December 2023 onwards.

The Board of Directors do not foresee any exceptional risks other than the normal operational risks associated with the MMSW Project.

None of the directors and/or major shareholders and persons connected with a director or major shareholder has any interest, direct or indirect, in the MMSW Project.

This announcement is dated 18 October 2023.