×

Kuala Lumpur, 6 August 2018 – Dagang NeXchange Berhad (“DNeX”) has announced a strong set of financial results for the second quarter ended 30 June 2018 (“2Q 2018”), and the six months period ended 30 June 2018 (“1H 2018”).

In 2Q 2018, revenue grew to RM51.2 million from RM49.1 million in the previous year’s corresponding quarter (“2Q 2017”) while profit after tax (“PAT”) settled at RM11.6 million as compared to RM11.7 million in 2Q 2017.

For 1H 2018, DNeX’s revenue rose 32 per cent to RM122.3 million in 1H 2018 as compared to RM92.9 million a year ago. The bulk of the Group’s revenue came from IT & e-Services division, representing 81 per cent of the total revenue, while the remaining 19 per cent was contributed by Energy division. The overall higher revenue was mainly attributed to continued growth of the Group’s business-to-business and business-to-Government services, and the consolidation of post acquisition results from Genaxis Group.

Meanwhile, 1H 2018 PAT increased 51 per cent to RM40.3 million as compared to RM26.7 million in first half 2017 (“1H 2017”).

DNeX’s robust growth in 1H 2018 financial performance was attributed to the improved earnings performance across its two core divisions.

The IT & e-Services division registered an increase of 44 per cent in profit before tax (“PBT”) to RM32.1 million against RM22.3 million in 1H 2017, contributed mainly from recurring revenue stream.

Meanwhile, PBT from Energy division almost doubled to RM10.4 million in 1H2018 from RM5.6 million in 1H2017. The improvement was mainly attributed to the increase in earnings contribution from DNeX’s associate company, Ping Petroleum Limited, which is involved in upstream crude oil production and has benefited from stronger crude oil prices.

Commenting on the Group’s financial results, Executive Deputy Chairman of DNeX Datuk Samsul Husin said, “We are pleased to note that our growth trajectory remained solid in the first half of 2018. The strong financial results are testament to our commitment in building, managing and improving our service platform eco system in Trade Facilitation, Transport and Halal eco system.”

“Moving forward, the Group remains focus on effective execution of our planned initiatives as well as exploring new opportunities by leveraging on existing business building blocks in both divisions to drive earnings resiliency and business competitiveness,” he said.

As at 30 June 2018, the Group’s net assets per share improved to 26 sen from 24 sen as at 31 December 2017.

Latest News

Get updates and announcements from Dagang Net

View All

Read more +22 January 2021

DNeX strengthens investment in upstream Oil and Gas

Cyberjaya, 22 January 2021 – Dagang NeXchange Berhad (“DNeX”) has entered into a conditional share sale and purchase agreement ("SSPA") with the other shareholders of Ping Petroleum Limited (“Ping") to acquire an additional 60 per cent of the issued share capital in Ping not owned by DNeX, for USD78.0 million (RM314.3 million). (Exchange rate USD1.00: RM4.03). Based on the SSPA, DNeX may nominate DNeX Energy Sdn Bhd (“DNeX Energy”), its wholly owned subsidiary, to be the transferee and registered holder of those shares.
Read more +18 January 2021

NOTIFICATION – INTERUPTION OF POWER SUPPLY FOR GENSET ON LOAD TEST AT FCZ BUILDING, KLIA

Please be informed that Building Services – Ancillary Building Engineering Division will be carrying out the Genset ON Load Test at FCZ Building, KLIA from Sunday, 24 January 2021 (Between 1000hrs to 1700hrs).
Read more +13 January 2021

NOTIFICATION: E-FORM D TRANSACTION CANNOT BE FOUND IN VIET NAM CUSTOMS SYSTEM

Reference made to the above subject, where this is to inform that currently Vietnam Customs is facing technical issues whereby the system is unable to generate response messages [AS2/AS3/(RES REC/RES NOT)] to some ASEAN Member States (AMS) including Malaysia.
TOP