Export-Import Bank of Malaysia Berhad (“EXIM Bank”) enters into a collaboration with Dagang NeXchange Berhad (“DNeX”), through DNeX’s subsidiary company SEALNET Sdn Bhd (“SEALNET”), to integrate its financial and insurance products and services into the SEALNET portal which is expected to go live by mid 2020.
The SEALNET portal is a Web-based digital platform for total cargo and trade management services that connects and enables the trade and logistics community to exchange trade data digitally. SEALNET converges supply chain and cross-border logistics processes to simplify cargo and trade management systems and approaches.
According to Dato’ Nazri Abdul Rahim, President/Chief Executive Officer of EXIM Bank, “The collaboration is in line with the efforts to meet our mandate in stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services. The arrangement of finances and insurance will be streamlined through one single platform to better enable and empower cross-border businesses in a speedy manner.”
“We are pleased to be working with EXIM Bank to further advance growth of businesses in the trade facilitation and logistics sector. Leveraging on DNeX’s experience in trade facilitation, SEALNET was introduced to provide an integrated, Web-based business-to-business (“B2B”) solution that seamlessly connects domestic and international logistic communities,” Dato’ Patrick Wong, Executive Director of SEALNET Sdn Bhd said.
“This collaboration will enable us to increase the efficiency of financing by reducing the processing cost and time, as well as offer our customers value-added services that will assist their businesses to grow,” Dato Wong added.
The signing of the event was witnessed by Deputy Minister, Ministry of International Trade and Industry, Yang Berhormat Dr Ong Kian Meng, and also attended by senior officials of MITI, the Board members and senior management teams of EXIM Bank, DNeX and SEALNET.