Dagang NeXchange Bhd unit, Dagang Net Technologies Sdn Bhd, has been awarded an RM18.08 million contract for Malaysia Maritime Single Window Phase 1 project by the Port Klang Authority. The board expects it to contribute positively to the earnings for the financial years ending Dec 31, 2023 (FY2023) onwards.

KUALA LUMPUR (Oct 18): Dagang NeXchange Bhd's (DNeX) subsidiary, Dagang Net Technologies Sdn Bhd has accepted RM18.08 million contract for Malaysia Maritime Single Window Phase 1 (MMSW) project from the Port Klang Authority.

In a Bursa Malaysia filing on Wednesday, the group said the project is expected to commence in October this year for a period of three years and six months.

“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 serve 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 group, and will further complement DNeX’s existing National Single Window system in processing international trade through a single window so as to reduce 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 Dec 31, 2023 (FY2023) onwards,” it said.

Shares in DNeX finished unchanged at 42.5 sen, giving it a market capitalisation of RM1.34 billion.

Year to date, the stock has dropped by 18.27%.