Semiconductor segment swings to RM16million Profit Before Tax (“PBT”); Energy upstream revenue grows 4% despite gas field maintenance; IT’s PBT rises 40%; Group remains in net cash position of RM527million
Cyberjaya, 21 August 2026 – Dagang NeXchange Berhad (“DNeX” or “the Group”) today announced stronger financial performance for the second quarter ended 30 June 2026 (“2QFY2026”), with Group Profit Before Tax (“PBT”) rising to RM32.7 million from RM9.0 million in 2QFY2025, supported by improved performance across its Semiconductor and Information Technology (“IT”) businesses.
For the six months ended 30 June 2026 (“1HFY2026”), Group PBT grew 71% to RM56.0 million (1HFY2025: RM32.7 million), while Group Profit After Tax (“PAT”) stood at RM44.9 million, compared with a loss of RM82.3 million in 1HFY2025. The prior-year results included a one-off, non-cash accounting deferred tax charge of RM105.0 million relating to changes to the United Kingdom Energy Profits Levy (“EPL”).
Group revenue for 1HFY2026 was RM552.4 million (1HFY2025: RM559.5 million), with reported revenue affected by the translation impact of a stronger Ringgit against the US Dollar and Pound Sterling; excluding currency translation effects, revenue grew 4% year-on-year (“YoY”). Cash generated from operations more than quadrupled to RM216.5 million (1HFY2025: RM53.6 million), supporting RM179.5 million of capital expenditure across the Group’s semiconductor and energy assets.
In 2QFY2026, Group revenue increased 8% YoY and 6% QoQ to RM284.8 million. Profit attributable to owners rose 33% YoY to RM26.6 million, while basic earnings per share increased to 0.76 sen from 0.57 sen in 2QFY2025.
Segmental Performance 2QFY2026
Semiconductor
The Semiconductor segment recorded revenue of RM187.4 million, 21% higher than RM155.3 million in 2QFY2025, supported by higher shipment volumes and a higher average selling price. Emerging Technology products contributed 57% of segment revenue, up from 45% a year earlier. Segment PBT was RM16.0 million, compared with an LBT of RM28.9 million in 2QFY2025, reflecting higher revenue and improved operating margins.
Energy
The segment recorded revenue of RM54.7 million (2QFY2025: RM67.0 million) and PBT of RM7.0 million (2QFY2025: RM24.9 million). Reported revenue reflects the translation impact of a stronger Ringgit and a lower contribution from the downstream business. Excluding currency translation effects, upstream revenue grew 4% YoY, with lifting volumes rising 13% to 153,600 barrels (2QFY2025: 136,400 barrels) and the average realised crude oil price increasing 5% to USD72.9 per barrel. The prior-year PBT comparative included a foreign exchange gain of RM14.4 million; excluding foreign exchange effects, PBT was RM7.1 million against RM10.5 million previously, reflecting higher operating costs associated with planned maintenance works at a gas field.
Information Technology
The IT segment delivered PBT of RM21.7 million, 40% higher than RM15.5 million in 2QFY2025, supported by higher revenue and improved margins from the Trade Facilitation business. Segment revenue rose 5% to RM42.7 million, driven by increased trade activities and higher transaction volumes processed during the quarter. The segment continues to be supported by long-term contracts, providing recurring revenue visibility.
Financial Position
As at 30 June 2026, DNeX maintained a strong net cash position, with total cash balances of RM694.7 million against borrowings of RM167.1 million. Total assets stood at RM3.6 billion and total equity at RM1.7 billion.
Management Commentary
Vinie Chong Pui Ling, Interim Officer-in-Charge, Group Chief Operating Officer and Group Chief Financial Officer of DNeX said, “Our improved earnings reflect the benefits of the strategic consolidation, together with the cost optimisation and integration initiatives across the Group. These efforts have strengthened our balance sheet, improved operating leverage and placed the Group on a stronger and more resilient footing.”
In Semiconductor, the portfolio continues to shift towards higher-value Emerging Technology products. Demand is underpinned by artificial intelligence (“AI”), high-performance computing, automotive electronics and data centre applications. The Group’s priorities remain capacity expansion, optimised utilisation and yield improvement, alongside selective partnerships as global supply chains realign.
In Energy, the Group remains focused on maximising value from the producing Anasuria Cluster in the United Kingdom North Sea while progressing towards first oil at the Abu Cluster in Malaysia. During the period, Ping Petroleum Limited also acquired a 20% equity interest in TI Exploration & Production Sdn Bhd, a joint venture with Terengganu Inc’s energy arm, further strengthening its presence in Malaysia’s upstream sector.
In IT, the Group continues to build on its established base in mission-critical government and trade facilitation systems, integrating cloud and AI capabilities into its existing platforms and service offerings. The segment also took on a broader role in Saudi Arabia’s Makkah Route initiative for the 2026 Hajj season, building on its trade facilitation and government systems franchises.
“Looking ahead, we remain focused on revenue growth and operational excellence by driving greater efficiency, cost discipline and productivity across our businesses, while maintaining disciplined capital management and prudent allocation of resources. Our objective is to build a more resilient, profitable and sustainable Group, with a clear focus on long-term growth and value creation for our shareholders,” she added.