Kuala Lumpur, 17 October 2018 – Dagang NeXchange Berhad ("DNeX"), through subsidiary DNeX Telco Services Sdn Bhd, has been awarded two contracts for marine fibre optic cable repair worth a total of USD2.8 million by Pt Bina Nusantara Perkasa.

The first contract, worth about USD1.4 million, is for repair works of SEA-US Cable System in Davao, Philippines. Also worth about USD1.4 million, the second contract is for repair works of Indonesia Global Gateway (“IGG”) Segment 13 off Palu, Makassar and Segment 15 off Manado, Indonesia.

Each of the projects is expected to complete in 29 days based on the approved plan of work with an option for extension up to 35 days.

These two projects, according to Executive Deputy Chairman of DNeX Datuk Samsul Husin, show encouraging progress for DNeX in its new line of business contribution.

“With a new line of business, we need to make sure that there is business sustainability, and these two latest projects attained within a short time frame from the first project is indeed a healthy indication,” he said.

Earlier in August this year, the company was awarded its maiden project in this business segment when it bagged a sub-contract of marine fibre optic cable installation for Telkom Infra in Indonesia.

The project, worth USD6.3 million (about RM25.8 million), was awarded by Pt. Bina Nusantara Perkasa, the consortium company that serves as the main contractor of the project.

Under the project, DNeX will be responsible for the design, construction and installation of about 700 kilometres of fibre optic installation for two lines namely Matanusa and SMPCS Patara as part of the Indonesia Global Gateway Cable System. DNeX will be working with Kokusai Cable Ship Co Ltd of Japan in this project.