DNEX (4456) Dagang Nexchange Berhad
KUALA LUMPUR (Oct 30): Malayan Banking Bhd (Maybank) and Dagang Nexchange Bhd (DNex) are targeting RM5 billion in trade financing, through a planned online trade financing facility.
In a statement today, Maybank said it was collaborating with DNex, an information communication technology company, to launch the centralised online trade financing facility. The facility is targeted at Malaysian export-based small and medium enterprises (SME).
The facility, known as Trade2Cash, is estimated to serve more than 100,000 SME customers nationwide.
This will be done via the national single window e-commerce trade facilitation service, managed by DNex.
Maybank said myTrade2Cash, to be launched tomorrow, was expected to facilitate some RM5 billion worth of trade financing in the first 3 years.
"This is also expected to significantly boost Maybank's total trade finance volume," Maybank said.
At 12.30pm, Maybank shares settled unchanged at RM9.70, for a market capitalization of RM90.38 billion.
DNex declined 0.5 sen or 1.75% to 28 sen, for a market value of RM217.1 million.
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