JAI’S STUFF: Dagang NeXchange Bhd’s recently launched (DNeX) digital trade and logistics platform SealNet will increase revenue 300% through trade facilitation for the private sector in the fiscal year ending June 30, 2022, according to DNeX Group Managing Director Tana Sri Sayed. Zaynal Abidin Sayed Mohamed Tahir.
He said SealNet aims to become the market leader in the digital commerce and logistics segment, and the group will acquire existing startups if the acquisition creates value for the group.
“We strive to be the preferred trading partner for all businesses, from microenterprises to multinationals. Clients need a variety of services, for example, marine insurance, warehouses, retail facilities. We are working with business partners to provide end-to-end integration so that it can better serve customers, ”he said in a virtual press conference following today’s launch of SealNet.
He said the growth opportunities for the digital commerce and logistics segment are enormous as total trade traffic in and out of Malaysia grew 35% year over year in May, according to trade facilitation platform DNeX.
He added that trade (within and outside Malaysia) grew 25% in the first five months of this year compared to the same period last year.
“In cross-border trade and logistics, digitalization is definitely changing our business. This led to the emergence of Logistics 4.0, or Intelligent Logistics, a new trend that is expected to change the industry to a great extent.
“Smart logistics involves the use of new technologies such as artificial intelligence, robotic process automation, radio frequency identification (RFID) and blockchain. These new technologies are expected to result in faster, more flexible supply with more transparency at a lower cost, ”he said.
He said that traders and logistics companies are aware of the importance of digitalization, but their internal systems may currently be siled.
“This is one of the problems in the industry that we need to address as it can lead to stagnation in efficiency and unnecessary costs,” he said.
He said SealNet is intelligently built to connect and digitize components in the global supply and logistics chain to improve the efficiency of transport and trade facilitation mechanisms, increase the productivity of traders and the logistics industry, and provide a better electronic system for logistics and cross-border trade. …
Meanwhile, commenting on DNeX’s acquisition of a 60% stake in SilTerra Malaysia from Khazanah Nasional Bhd, he said the group has many pipeline plans to expand SilTerra to make it profitable.
“We will finalize the Silterra product range. He has a lot of products and customers at different selling prices. We invite our dedicated experts to improve our product portfolio. We will improve our product range with better quality products and selling prices to improve the company’s margins and profits.
“A stable customer base is important for a manufacturing company. We have several long term partners (for SilTerra) who will double (profit) the margins of some products and we will be making an announcement soon. This is one of the promises we made to Khazana.
“We will continue to supply chips and components for the automotive industry, in particular for electric vehicles,” he said.
On Foxconn, he said that the recent appointment of Dr. Bob Wei-Ming Chen as an independent non-executive director of DNeX would benefit the DNeX board.
“His experience and know-how is essential to DNeX in understanding industry trends and ensuring that the group’s SilTerra plan is in line with market demands.”
He added that Chen is currently vice president and head of the (semiconductor business group) Hon Hai Technology Group, also known as Foxconn.