PRNewswire
Kuala Lumpur [Malaysia], May 26: MY E.G. Services Berhad ("MYEG"), Malaysia's leading e-government and digital services provider, today signed a Memorandum of Understanding ("MoU") with Singapore Trade Data Exchange Services Pte. Ltd. ("SGTraDex"), Singapore's digital infrastructure for trade data exchange. The strategic partnership seeks to enable both parties to collaboratively facilitate seamless, digital cross-border trade between Malaysia and Singapore, setting a new standard for digital trade connectivity in the ASEAN region.
Signed at the ASEAN-GCC-China CEO Roundtable hosted by the ASEAN Business Advisory Council ("ASEAN-BAC"), the MoU underscores the deepening partnership between Malaysia and Singapore in advancing digital economic cooperation. This collaboration reflects a shared vision to develop interoperable, cross-border digital solutions and serves as a foundation toward broader regional integration across ASEAN.
Under the terms of the agreement, MYEG's Zetrix and SGTraDex will explore the technical integration of their respective platforms to enable a secure and interoperable channel for the exchange of trade-related data. The collaboration aims to catalyse the transition from paper-based to digital trade flows, including the use of verifiable electronic records, aligned with the region's push for trade facilitation and supply chain resilience.
"This partnership signals a new era for trade digitalisation in ASEAN," said Dato' Fadzli Shah, Co-Founder of Zetrix. "By aligning Malaysia's and Singapore's trusted digital infrastructure, we're creating the building blocks for a digitally unified ASEAN, one that reduces friction, enhances trust, and accelerates growth."
"Our collaboration with MYEG reflects SGTraDex's commitment to fostering open and trusted digital trade. By aligning efforts with close partners like Malaysia, we are taking steps toward greater interoperability and connectivity, which will contribute to more inclusive digital growth across the region," said Mr. Tan Chin Hwee, Chairman of SGTraDex.
The collaboration supports the ASEAN Digital Economy Framework Agreement ("DEFA"), and complements broader efforts to enable mutual recognition of Digital ID, electronic trade documents, and regulatory credentials across borders. With blockchain technologies such as MYEG's Zetrix Layer-1 chain and frameworks like TradeTrust on SGTraDex, immutability and traceability of verified information exchanged between governments and enterprises is ensured, fostering greater transparency and security in cross-border transactions.
SGTraDex is a public-private digital utility founded by Singapore's Infocomm Media Development Authority ("IMDA") alongside a banking, trade and logistics industry consortium including Advario, DBS, Jurong Port, OCBC, ONE, PIL, PSA, Standard Chartered, Trafigura, and UOB. The initiative plays a critical role in digitising logistics and trade finance by interconnecting data silos across the supply chain. Through this partnership, both parties will explore new B2B and B2B2G flows, and co-develop services tailored for cross-border use cases.
The MoU outlines areas of collaboration including:
* Platform-to-platform connectivity between MYEG and SGTraDex
* Joint product development for trade document verification
* Technical integration using blockchain and interoperable data standards
* Regulatory knowledge exchange and sandbox coordination
The partnership is expected to serve as a launchpad for wider regional integration, including with China and the Gulf Cooperation Council ("GCC") countries.
By leveraging Malaysia's and Singapore's leadership in digital infrastructure and policy, the partnership is poised to reinforce the broader vision of ASEAN as a digitally interconnected economic bloc; strengthening the region's digital infrastructure by facilitating secure, inclusive, and efficient trade.
About MY E.G. Services Berhad ("MYEG")
MYEG is Malaysia's premier digital services company. Having commenced operations in 2000 as the flagship e-government services provider, MYEG continues to play a leading role in driving technological change in the region, bringing a diverse and complete range of innovations spanning the online delivery of major government services to a variety of commercial offerings in the areas of immigration, automotive and financial services, among others. Committed to staying firmly at the forefront of the global digital revolution, MYEG has embraced the potential of blockchain technology to enhance all aspects of life and is actively pioneering its adoption across the region through its Layer 1 platform Zetrix. Besides its home market, MYEG's presence spans other key regional markets such as mainland China, Philippines and Hong Kong SAR.
About SGTraDex
Launched on 1 June 2022, the Singapore Trade Data Exchange ("SGTraDex") is a digital utility that facilitates the sharing of data between supply chain ecosystem partners, streamlining information flows through a common data highway where data can be shared in a trusted, secure and inclusive manner.
SGTraDex is a public-private partnership founded by IMDA, PSA, Trafigura, DBS, Jurong Port, OCBC, ONE, Advario, PIL, Standard Chartered and UOB. Their proprietary technology aims to resolve pain points in supply chain ecosystems including a heavy reliance on a paper-based system which lacks efficiency, transparency, and sustainability.
The move to digitalise information will increase productivity and build supply chain resilience. New efficiencies and opportunities will be unlocked when ecosystem partners can collaborate to achieve a shared visibility of the end-to-end supply chain.
For more information, visit sgtradex.com
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