Dagang NeXchange Berhad (“DNeX”), through subsidiary company DNeX RFID Sdn Bhd, has signed a Memorandum of Agreement with Universiti Teknologi Mara (“UiTM”) to drive development and commercialisation of Radio Frequency Identification (“RFID”) solutions.

Under the agreement, the two parties agree to work together for the establishment of an Industrial Research Laboratory to carry out research and development in RFID.

DNeX will be responsible for the commercialisation activities of products developed from the project. In addition, DNeX will be privy to acquire patents for new products and systems developed, which can help the company gain sustainable competitive advantages.

The agreement is expected to pave the way for further collaboration on DNeX’s digital technology capabilities and services such as its Dagang Net eScroll, a blockchain-backed innovative platform for employers, graduates, universities and training providers to authenticate academic and training certificates.