KUALA LUMPUR, Sept 18 — MyEG Services Bhd’s shares rose 8.60 per cent in the early trade after the company announced its collaboration with the Federation of Malaysian Freight Forwarders (FMFF) to promote ZTrade as Malaysia’s National Single Window (NSW) for cross-border trade facilitation.

At 10.10am, MyEG advanced eight sen to RM1.01, with 72.88 million shares traded.

In a filing with Bursa Malaysia on Tuesday, MyEG said the parties inked a memorandum of understanding (MoU) to work together on several initiatives related to the positioning of ZTrade — a blockchain-based trade document system — as the NSW for domestic trade as well as cross-border trade to and from Malaysia.

Among other things, the MoU entails promoting the platform to businesses and government ministries and agencies, providing training and support to platform users, and jointly introducing and promoting ZTrade’s services to FMFF members.

FMFF, recognised and endorsed by the Ministry of Transport as a national association representing the logistics industry, currently has 1,500 members nationwide. — Bernama