PETALING JAYA: Dagang Nexchange Bhd
(Dnex) will continue to leverage on its competitive strengths across its three core businesses while remaining resilient amidst the challenging environment.
Executive chairman Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said a positive for the group is the global semiconductor industry exhibiting long-term growth potential, driven by continuous technological advancements.
“Dnex remains focused on enhancing its product offerings with emerging technologies that are expected to boost both revenue and profitability. Ongoing product testing and qualifications with global customers position Dnex to efficiently meet market demand when the industry rebounds,” he said.
He added the group, which is involved in the technology, energy and information technology sector, has cultivated partnerships with key technology leaders and global companies including Mimos Bhd, Accenture Solutions Sdn Bhd and Strateq Sdn Bhd to create joint digital and technology offerings.
“Globally, we have entered into collaborations with reputable organisations including Ajlan & Bros, and key Chinese technology partners to bid for technology projects in the Middle East and North Africa region.
“Potential projects include smart city developments, digital ID, e-government service offerings and system integration works,” he noted in a statement.
He added the group considers the recent extension of voluntary oil production cuts by the Organisation of the Petroleum Exporting Countries and its allies positively, as it will contribute to higher oil prices, strengthening its position as an upstream producer. He added this will also drive demand for technical products and equipment.
“We are committed to becoming the technology partner of choice by developing innovative solutions that accelerate digital transformation to enhance efficiencies and lower operating cost for users.
“Our strategic plan involves expanding our service offerings by advancing our capabilities and seizing opportunities in new technology areas such as IoT, Big Data and analytics,” he said.
The group had also launched TradeSwift Dagangnet, an all-in-one trade facilitation SuperApp, designed to handle, pay and manage trade transactions from any place.
For the quarter ended Sept 30, 2023 Dnex recorded a net profit of RM13.3mil on the back of RM327.4mil in revenue.
The group’s technology division registered a higher revenue of RM157.2mil for the quarter, compared to RM128.1mil in the last quarter driven by both higher wafer shipments and higher average selling price per wafer.
Revenue from the energy division also improved to RM114.8mil during the quarter under review from RM91.7mil recorded in the preceding quarter, driven by higher lifted volumes and average oil prices.
Revenue from the IT division stood at RM55.5mil driven by the increase in trade transaction volume. It has changed its financial year from June 30 to Dec 31.
