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DNeX positions itself for the future; diversifies customer base and revenue streams

Cyberjaya, 19 June 2024 – Dagang NeXchange Berhad (“DNeX”) is actively diversifying its customer base and revenue streams across its three core business segments of Technology, Energy and Information Technology (“IT”).

Speaking at DNeX’s 53rd Annual General Meeting (“AGM”) which was conducted virtually, Tan Sri Syed Zainal Abidin Syed Mohamed Tahir Jamalullail, Executive Chairman of DNeX shared insights into the Group’s expansion efforts.

“We have significantly broadened our customer base and scaled up our operations across our three core business segments. In the Technology segment, the Group has onboarded several new customers in emerging fields such as artificial intelligence (“AI”), health science and electric vehicle (“EV”) sectors. Product testing and qualifications with customers are on-going, and we anticipate higher manufacturing volumes upon completion. Furthermore, following a 20 per cent capacity expansion that was completed in 2023, we are well-positioned for the upcoming industry upcycle,” he said.

The Group is also exploring opportunities in the recently launched National Semiconductor Strategy notably in grants and subsidies for establishing new manufacturing and R&D facilities.

In the Energy segment, DNeX has successfully diversified beyond its sole producing oil and gas (O&G) asset, Anasuria Cluster in North Sea, UK. The Group now boasts a geographically diverse late-life O&G portfolio, including assets in the UK (Anasuria, Avalon, and Fyne) and Malaysia (Meranti Cluster, A Cluster, and Abu Cluster). The Group remains committed to expanding its portfolio further in the UK and Malaysia to create a robust pipeline of development opportunities. In addition, efforts are underway to upgrade the Kemaman Supply Base workshop to enhance service offerings and broaden capabilities in the downstream sector.

For the IT division segment, DNeX is positioning itself as a key player in supporting the Government’s digital transformation agenda.

“We are actively tendering for significant IT projects both domestically and internationally. We are also expanding our Trade Facilitation services through enhancements to the National Single Window, incorporating new B2B services and integrating additional government agencies,” Tan Sri Syed Zainal Abidin Syed Mohamed Tahir Jamalullail said.

Highlighting its commitment to environmental, social, and governance (“ESG”) principles, DNeX is balancing profitable growth with environmental and social responsibilities including net-zero emissions by 2050,” he added.