Cyberjaya, 29 May 2025 – Dagang NeXchange Berhad (“DNeX”) reported a revenue of RM296.8 million for the first quarter ended 31 March 2025 (“1QFY2025”), driven primarily by its Technology segment which contributed RM178.7 million, or 60% of the Group’s total revenue. This was followed by the Energy division which generated RM78.8 million, representing 27% of Group revenue; while the Information Technology (“IT”) segment contributed RM39.3 million, accounting for the remaining 13% of total revenue.
The Technology segment delivered a strong performance in 1QFY2025, with revenue rising 30% year-on-year to RM178.7 million, up from RM138.0 million in the same quarter last year. This robust growth was driven by higher wafer shipments and improved product pricing, underpinned by strong market demand in the company’s semiconductor solutions.
Meanwhile, the Energy segment recorded revenue of RM78.8 million in 1QFY2025, compared to RM105.9 million in 1QFY2024, mainly attributed to lower average crude oil prices during the quarter at USD74.3/bbl (1QFY2024; USD87.7/bbl).
The IT segment posted revenue of RM39.3 million in 1QFY2025 versus RM38.4 million a year earlier, supported by ongoing project progress and consistent contributions from the National Single Window for Trade Facilitation platform.
The Group posted profit before tax of RM23.7 million in 1QFY2025, marking a significant increase from RM0.4 million in 1QFY2024. The growth was driven by lower operating expenses and finance costs, reflecting the Group’s ongoing efforts to enhance operational efficiency and strengthen its capital management strategies.
The Group recognised a one-off, non-cash accounting adjustment of deferred tax expenses totalling RM112.1 million, following the UK Government’s extension of the Energy Profits Levy (“EPL”) scheme to 31 March 2030, as enacted under the UK Finance Bill 2024/25 during the current quarter. This accounting charge is expected to reverse over time, resulting in tax credits in the Group’s statement of profit or loss moving forward.
Excluding the EPL charge, the Group’s normalised Profit After Tax would be RM20.2 million in 1QFY2025, representing a significant turnaround from the normalised Loss After Tax of RM22.3 million in 1QFY2024.
Commenting on the strong Q1FY2025 results, Vinie Chong Pui Ling, Group Chief Financial Officer of DNeX, said “DNeX has returned to profitability this quarter, driven by optimised capital structure and operational leverage. Our strategic investments in high-value, emerging semiconductor technologies are delivering tangible results where our innovative solutions are enhancing a broad range of industries, from enabling high-speed, energy-efficient data transmission in hyperscale data centres to supporting critical applications in biomedical instruments, electric vehicles, smart devices and renewable energy systems.
On our Energy segment, despite a more subdued crude oil price environment, our disciplined cost structure and emphasis on production efficiency are expected to sustain profitability. By leveraging synergies between our upstream and downstream operations, we are building a more integrated and agile energy platform – positioned to drive value creation across the full energy value chain.”
“DNeX continues to play a pivotal role in Malaysia’s digital transformation by delivering high-impact IT solutions across critical sectors of the economy. We are expanding our business from digital transformation projects to becoming a leading provider of AI-enabled sovereign cloud infrastructure, supported by custom, in-house developed AI solutions. These developments underscore DNeX’s ongoing evolution into a comprehensive, cloud-enabled, AI-driven digital solutions provider, with a strategic focus on both government-driven initiatives and transformative private sector projects,” she added.
As of 31 March 2025, the Group maintains a strong net cash position with a total cash balance of RM541.9 million, total asset of RM4.2 billion and total equity of RM2.1 billion.
