DNeX teams up with Chinese, Saudi firms to explore businesses in MENA
23 Oct 2023
Dagang NeXchange Bhd (DNeX) is establishing access to China’s high technology information technology (IT) solutions and strengthening ties with its partner in the Middle East to expand its geographical footprint into the Middle East and North Africa (MENA) region.
DNeX entered into an agreement with Zhongheguoji Construction Group Co Ltd (CSI) to set up a joint venture enterprise (JVE) to source for state-of-the-art technology and solutions from China.
CSI is a state-owned enterprise tasked to capitalise on the resource advantages in China.
Under Phase 1 of the JVE, DNeX via CSI, will secure access to Smart City technology from Chinese technology partners which include Tencent, the developer of WeChat and a leading technology company listed on the Hong Kong Stock Exchange Kong as well as Tsinghua University Urban Institute, under Tsinghua University, which is ranked 12th on the 2024 World University Rankings.
The JVE is also set to expand its technological scope by partnering with other Chinese entities specialising in various sectors such as supply chain and logistics, intelligent transportation, electrical manufacturing, clean energy, data centres and equipment
DNeX, through subsidiaries SealNet Sdn Bhd and DNeX MENA Sdn Bhd, has also signed a collaboration agreement with Ajlan & Bros Information Systems Technology (Ajlan Tech) and CSI to explore opportunities in commercial projects in Saudi Arabia in offering Smart City solutions and other relevant technology solutions.
Ajlan Tech is a business unit under Ajlan & Bros Holding Group, one of the largest private sector conglomerates in the Middle East region, employing over 15,000 people in more than 25 countries.
DNeX executive chairman Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said the agreements will pave the way for DNeX’s rapid expansion in the MENA region.
“They grant DNeX access to China’s cutting-edge technology solutions across a wide array of domains, including Smart City applications, such as e-government services and e-commerce, as well as emerging technologies like the Internet of Things (IoT), AI, and block chain, ” he said in a statement.
“The market potential is attractive, and our partnership is designed to leverage on these global trends in digital transformation.
“We are actively exploring and bidding for a wider range of IT projects with a specific focus on projects in Smart City infrastructure, advancements in e-government services and expansion of digital commerce,” he said.