PETALING JAYA: Dagang NeXchange Bhd (DNeX) has signed a memorandum of understanding (MoU) with Saudi Arabia-based Ajlan & Bros Holding Group (Abilitii) to explore business collaboration in technology, software products and platforms for facilitating trade, oil and gas production and trade, software development, system integration and consultation services.
In addition, the two companies will leverage on each other’s expertise to explore business opportunities and consider establishing a joint venture company (JVCo) in Saudi Arabia to achieve agreed-upon collaborative arrangements. Furthermore, these opportunities may also include investment from Abilitii in specific venture undertaken by DNeX.
DNeX group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said the partnership allows the group to expand its footprint in the Middle East and Northern Africa (Mena).
“Together with Abilitii, we will explore the vast opportunities in Saudi Arabia namely efforts in the country’s modernisation and digitalisation as part of the Kingdom’s Vision 2030 through our services and solutions in technology consulting and system integration as well as trade
facilitation. We intend to bring best practice from Malaysia that we had accumulate through our experience in the sector and find ways to build, complement and enhanced the service offerings available in the Kingdom with the help of Abilitii.
“The partnership enables us to combine DNeX group’s technical know-how and expertise in the trade facilitation, system integration and oil and gas sector with Abilitii’s regional expertise, access to market and funding. Such partnership may also lead to both parties to find opportunities in the semiconductor industry in both Malaysia and Saudi Arabia,” he added.
Ajlan & Bros Holding Group, headquartered in Riyadh, Saudi Arabia, is one of the largest private sector conglomerates in the Middle East region established in 1979, employing over 15,000 people in more than 25 countries and across 75 companies. The diversified group has investments in several countries across various portfolio such as real estate development, international investments, logistics, infrastructure, ports, energy, mining, healthcare, tourism. Ajlan & Bros Holding Group has businesses and coverage in more than 20 sectors. It is ranked 34th in Forbes List of Top 100 Arab Family Businesses in the Middle East 2021.
