BUSINESS

DNeX to focus on building resilience for sustainable returns

07/12/2022 12:21 AM

KUALA LUMPUR, Dec 6 (Bernama) -- Dagang NeXchange Bhd’s (DNeX) diverse businesses has put the group on a solid footing to buffer against the expected challenging environment in 2023.

DNeX’s various businesses include technology, energy and the information and technology (IT) sectors.

Group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said the group’s strategic investments in SilTerra Malaysia Sdn Bhd and Ping Petroleum Ltd have propelled DNeX to greater heights, driven by the successful turnaround at the semiconductor wafer foundry as well as the recurring contribution from the upstream oil and gas (O&G) operator.

He said in the technology segment, which is anchored by SilTerra, the 10 per cent capacity expansion which is scheduled to be completed in the first half of 2023 will enable the group to add more capacity to the manufacturing of emerging technologies for long-term sustainability.

“Efforts to increase production output at Ping’s Anasuria Cluster in the North Sea, United Kingdom, are ongoing. The completion of the riser reinstatement and a major maintenance turnaround is expected to boost field production rates.

“We are confident that our energy business anchored by Ping will continue to grow as a Malaysian-led company and expand and unlock the potential of other assets within the UK and Southeast Asia region,” he said in a statement today.

Within the IT sector, he said National Single Window (NSW) transactions have grown due to the lifting of COVID-19 restrictions, and this trend is likely to increase in the coming months in line with seasonal festivities.

DNeX is also expanding its presence into regional and international markets via strategic collaborations with leading IT principals and multinational corporations.

To this end, he said that DNeX is steadfast in terms of the company’s focus on building resiliency across its business segments for the purpose of yielding sustainable returns through the optimisation of cost and operating efficiencies. 

DNeX also announced the resignation of Tan Sri Abd Rahman Mamat as chairman.

In a filing with Bursa Malaysia today, DNeX cited “to be in line with good corporate governance practices and to pursue other corporate interests” as the reason for his resignation. 

-- BERNAMA

 

 


 


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