Dagang NeXchange Berhad to establish access to Chinese high technology information technology solutions and strengthen the company’s ties with its partner in the Middle East to expand its geographical footprint into the Middle East and North Africa region.
At a signing ceremony held in the Kingdom of Saudi Arabia recently, DNeX entered into a joint venture Agreement with Zhongheguoji Construction Group Co Ltd (“CSI”) for the establishment of a joint venture enterprise (“JVE”) to source for state-of-the-art technology and solutions from China. CSI is a Chinese enterprise owned by the whole people of China (ultimately owned by the ChinaGovernment) and is tasked to capitalise on the resource advantages in China, including IT industry, digital platforms, research institutions, and local China connections to implement urban intelligence, rural modernisation, and other IT execution work.
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.
In addition, 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 the KSA 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.
