KUALA LUMPUR (Mar 7): Dagang NeXchange Bhd (DNeX) is planning to collaborate with Korea Trade Network (KTNET) on several initiatives involving port community system, electronic customs and IT consultancy services for trade facilitation.

KTNET is South Korea’s national paperless trade infrastructure operator, according to DNeX's bourse filing on Thursday, and operates the uTradeHub Platform for all businesses in international trade, in collaboration with the Korean government. The company is also known to have implemented its e-customs systems in other countries, it said.

DNeX's wholly-owned Dagang Net Technologies Sdn Bhd (DNT) has inked a two-year memorandum of understanding with KTNET for the deployment of home-grown technologies from DNT and global capabilities from KTNET to assist in the transformation of the trade facilitation industry, jointly develop products and services by leveraging on the expertise of both parties, and to expand the offerings each has to offer to their respective clients.

DNeX made a net loss of RM14.59 million for its financial quarter ended Dec 31, 2023, on revenue of RM283.65 million. No comparative figures were available as the company changed its financial year end to Dec 31, from June 30.

For the 18 months ended Dec 31, 2023, DNeX incurred a net loss of RM119.95 million, on revenue of RM1.91 billion.

DNeX shares closed one sen or 2.86% higher at 36 sen, bringing the group a market capitalisation of RM1.14 billion.