DNeX wins contract to supply Portable Container Systems for petroleum products nationwide

The PCS, a self-contained modular fuel storage and dispensing unit, is targeted to be used for the supply of petrol at the fish landing jetty in Malaysia.

Media Contact

Sharifah Kasim Al Edrus
Head, Media & Investor Relations
Dagang NeXchange Berhad
tel: +603 2730 0300
fax: +603 2713 3131
hp: +6013 342 1505
email: media@dnex.com.my

Kuala Lumpur, 6 July 2017 – Dagang NeXchange Berhad (“DNeX”), through wholly-owned subsidiary OGPC Sdn Bhd, has been awarded a contract to supply Portable Container Systems (“PCS”) for petroleum products by Petro Teguh (M) Sdn Bhd.

The contract involves designing, engineering, procurement, construction, installation and commissioning of up to 100 units of PCS for two years. In addition, the contract also covers maintenance and supply of parts for ten years.

In total, the contract price ranges from RM50 million to RM75 million. The contract price of a PCS station with single storage is RM500,000 while the contract price for a PCS station with double storage is RM750,000. Each PCS station will have a storage capacity that will be based on the requirement of the location and the captive market it is designed to serve.

The PCS, a self-contained modular fuel storage and dispensing unit, is targeted to be used for the supply of petrol at the fish landing jetty in Malaysia.

“We are grateful to be given the opportunity to undertake the implementation of this project. This is in line with our plan to pursue opportunistic contracting work in downstream sector leveraging on our expertise in delivering innovative engineered systems in short-cycle projects. The project augurs well with our strategy to expand on our Energy division and further strengthen this business segment, and provide growth moving forward,” said En Zainal Abidin Jalil, Group Managing Director of DNeX.

He said the project can also help DNeX raise its earnings, improve resiliency across markets and position the company for sustainable value creation for its shareholders, customers and other stakeholders.

“After a successful strategic transformation into a two core businesses namely IT and e-Services as well as Energy, DNeX has been making significant progress in both of its business divisions with this project adding on to its portfolio,” he added.