KUALA LUMPUR: Dagang NeXchange Bhd's sub-subsidiary Innovation Associates Consulting Sdn Bhd (IAC) has bagged a RM3.09 million contract from the Securities Commission to set up a registration, licensing and authorisation platform for applications made to the SC.
New features include customised functionalities and workflows as well as automated monitoring list and investor alerts. Data-driven insights will also be made available for internal and external stakeholders for improved decision-making.
The project is part of the SC's technology and analytics masterplan aimed at enhancing its capabilities to navigate emerging technology risks as the capital market embraces digitalisation.
The project will run for 27 months until January 31, 2026 and support the SC's transformation journey to be a future-ready organisation in effectively combating fraud and financial misconduct amidst the increasingly complex capital markets.
According to DNeX executive chairman Tan Sri Syed Zainal Abidin Syed Mohamed Tahir the contract from the SC, signifies the company's established track record in implementing projects to drive digitalisation in the public and private sectors.
"Organisations and governments worldwide are paying more attention to cybersecurity as it poses a significant threat not only in the capital markets but to the global ecosystem a large. With cyber threats increasing in volume and sophistication, it's imperative to prioritise risk-mitigation solutions that safeguard both investors and the integrity of the markets," he said.
DNeX's track record includes development of the Integrated government financial and management accounting system for Ministry of Finance, Hasil integrated taxation system for Inland Revenue Board of Malaysia and serving as the operator of Malaysia's National Single Window for Trade Facilitation since 2009.
The company's share price was up 1.18 per cent to 43 sen as at 4.26pm, following the announcement at midday break earlier.