DNeX expects SealNet revenue to grow 300%

by NUR HANANI AZMAN / pic by TMR FILE

DAGANG NeXchange Bhd (DNeX) expects its newly launched digital trade and logistics platform, SealNet, to grow its revenue exponentially by 300% driven by demand for the platform’s one-stop cloud-based logistics and cross border services to ease trade processes.

DNeX group MD Tan Sri Syed Zainal Abidin Syed Mohamed Tahir (picture) did not specify a time frame to meet the growth target but hopes SealNet will be profitable because the platform provides services that are needed by customers.

“The data of traffic that came to DNeX in terms of trade for the first five months this year (5M21) compared to 5M20 is 20%-25%. In May this year, we grew about 35% which means people are now pushing for export with the global market slowly opening up. I believe growth potential is still high,” he told reporters after the virtual official launch of SealNet yesterday.

“We are very competitive in the way we charge our fees to customers, because our view is not to burden our customers. I’m quite sure SealNet’s revenue will continue to grow and eventually it will contribute to the profit of DNeX,” he added.

Targeted at importers, exporters, manufacturers and trade-related businesses, SealNet empowers customers with a platform that is easy to use and can be accessed anytime.

SealNet digitalises information flow and logistics management across all parties and across borders involved in trade value chain without compromising data security.

Syed Zainal Abidin said SealNet’s contribution is small at present as the group has not been very aggressive to promote the service but the time is right now to ride on the new wave of growth and demand in logistics and trade.

“Our aim is to become a trade facilitator partner of choice. We want to be a global trade digital connector. We have the infrastructure, right people and now we have a platform,” he added.

SealNet covers key parts of trade facilitation value chain from the initial stage of importers and exporters invoicing and packing list, through the forwarding and shipping journey, regulatory and authority clearance and approvals, right up to the delivery point.

SealNet comprises a suite of products and services that can bring connectivity and reduce redundancy in data collection and information flow across the supply chain.

Syed Zainal Abidin said all lodged applications and submissions, be it domestic or international, can be done through SealNet.

Common information is then shared and replicated, ensuring re-usability of data to avoid re-keying in of the same data more than once, across the supply chain.

“The integration among stakeholders would lead to quicker decision-making, faster shipment clearance and turnaround time at each key process,” he added.