Kuala Lumpur, 2 May 2017 – Dagang NeXchange Berhad (“DNeX”) has successfully delivered on its strategies and completed transformation into a two-core business namely Energy as well as IT and e-Services.
The Group continues to strengthen its position in providing e-Services in the Business-to-Government (“B2G”) segment while at the same time making inroads in Business-to Business (“B2B”) and Business-to-Consumer (“B2C”) services thus adding value and complementing its existing offerings.
In addition, DNeX has managed to expand on its IT & e-Services through such initiatives as the Vehicle Entry Permit and Road Charges System Project that involves foreign-registered vehicles entering Malaysia via Johor, and the development of the eWork Permit System for the rehiring programme involving foreign workers without permits from 15 countries.
Under the Energy division, newly acquired OGPC Group and Ping Petroleum Limited (“Ping”) have also contributed positively to the Group’s financial results.
DNeX registered a strong set of results in the financial year ending 31 December 2016 (“FY 2016”). Its revenue nearly doubled to RM178.5 million compared to RM95.6 million in 2015, and net profit surged eight times to RM132.2 million compared to RM15.8 million in 2015.
And for the first time since DNeX’s strategic transformation started in 2014, the Group paid out dividends amounting to 1.5 sen per share for FY 2016, bringing the total payout to shareholders to RM16.4 million.
“We are pleased with what we have achieved so far especially having completed the strategic transformation into a two-core business namely Energy as well as IT and e-Services,” said Encik Zainal Abidin Jalil, Group Managing Director of DNeX.
“The Group needs to remain innovative and agile in both sectors and continue to strengthen the business model to achieve a sustainable growth trajectory and long-term profitability. The Group is also looking to expand our geographical reach to maintain our growth momentum and become a leading multi-national company with a diversified portfolio of profitable businesses,” he added.