KUALA LUMPUR (Sept 6): MyEG Services Bhd said it has teamed up with an agency of China's customs in a bid to secure the Royal Malaysian Customs's “single window” project.

The government e-service provider has signed a heads of agreement (HOA) with East Logistics Link Co Ltd (ELLC) to work exclusively together on securing and operating the project.

ELLC is a wholly owned agency of the General Administration of Customs of the People’s Republic of China.

Under the HOA, the parties will collaborate on implementing the project, defining its structure, obtaining regulatory approvals, developing a business plan, securing funding, and pitching to the relevant Malaysian agencies.

The project will proceed only if a legally binding definitive agreement is negotiated and signed by the parties and all necessary regulatory or third-party approvals are obtained.

In a separate statement, MyEG said the initiative enhances the partnership between MyEG and ELLC, building on their existing collaboration on ZTrade - a Web 3 service for verifying and exchanging digital trade documents on the Zetrix blockchain platform.

MyEG said this collaboration combines its expertise in e-government services and Web 3 technology with East Logistics' experience in China’s international trade systems, including the development and maintenance of cross-border trade e-commerce platforms.

The company added that the parties also aim for the project to be developed on the Zetrix blockchain, further advancing the adoption of Web 3 technology in Malaysia and across the Asean region.

Shares of MyEG closed unchanged at 91.5 sen on Friday, giving the company a market capitalisation of RM6.88 billion.
 

https://www.theedgemarkets.com/node/725902