DNeXchange Berhad announced that the parent companies of the China JVE to be incorporated, namely DNeX MENA Sdn. Bhd., the Company's wholly-owned subsidiary and CSI had on 21 October 2023 entered into a Collaboration Agreement with the parent companies of the KSA JVCo to be incorporated, namely SealNet Sdn. Bhd.

The Collaboration Agreement is intended for the Parties to enter into discussions and explore avenues of working together to complement each other for making bids and undertaking commercial projects including but not limited to the Kingdom of Saudi Arabia ("KSA") ("Proposed Project"). The discussion shall include but not limited to: (a) Exploring and agreeing on the possible formal collaboration structure between the Parties; (b) Defining the scope of the Proposed Project. (c) Identifying the roles and responsibilities of the Parties; (d) Such other matters as the steering committee may deem necessary of fit to be considered.

The Collaboration Agreement may be terminated by: (a) Any of the Parties, for convenience by giving a written notice thirty (30) days showing its intention to terminate its obligations under the Collaboration Agreement; or (b) The execution of the definitive agreement., Whichever is earlier. The Collaboration Agreement will enable DNeX to expand its geographical presence globally and anticipate a wide spectrum of opportunities across various sectors where DNeX will be able to provide products, services and technological expertise with a specific focus on solutions in smart city infrastructure, advancements in e-government services and expansion of digital commerce in Middle East, North Africa and Greater China region.