Dagang Nexchange (DNeX) (former Time Engineering)

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vested

4Q Results

Revenue: RM 300m
Loss: RM 77m
Net Asset: 0.52

https://disclosure.bursamalaysia.com/Fi ... TTACHMENTS

https://www.bursamalaysia.com/market_in ... id=3528795

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DNeX plans one-for-three bonus issue of warrants

By Izzul Ikram

An exercise price of 19 sen per warrant has been fixed with an entitlement date to be announced later.

It represents a discount of 29.6% to the five-day volume weighted average market price up to and including Thursday, May 8.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/754692

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Dagang NeXchange swings to loss in 1Q on higher interest expense

By Yap Yan Qing

Net loss of RM79.04 million for the first quarter, compared with a net profit of RM14.46 million a year earlier, mainly due to a higher interest expense.

The company's quarterly revenue fell 4.19% to RM296.83 million from RM309.82 million in 1QFY2024, mainly due to weaker contributions from the energy and information technology segments, which offset gains in the technology segment.

Revenue from the technology segment rose 30% to RM178.71 million.

Revenue from the energy segment fell 26% to RM78.81 million.

Revenue from the information technology segment dropped 40% to RM39.31 million, primarily due to the absence of contributions from the subsea telco business following its divestment.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/757291

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DNeX unit clinches RM104 mil iGFMAS contract from MoF

By Syafiqah Salim

Secured a RM103.76 million contract from the government to continue providing support for the Integrated Government Financial and Management Systems (iGFMAS) over a period of 60 months.

DNeX’s IT business segment — comprising Dagang Net Technologies Sdn Bhd, IAC, DNeX Solutions Sdn Bhd and its joint-venture unit Gamuda DNeX Cloud Sdn Bhd — offers an integrated suite of industry-leading solutions that support digitalisation across both the public and private sectors.

The IT segment contributed 19.2% of the group’s total revenue for the financial year ended Dec 31, 2024 (FY2024). The technology segment, driven by its semiconductor arm SilTerra Malaysia Sdn Bhd, contributed 53.6%, while the energy segment accounted for 27.2%.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/759527

[winston]

vested

Dagang NeXchange Berhad - Recalibrating for Future Growth

Date: 2025-06-23
Firm: BIMB
Price Target: 0.33
Price Call: BUY

Following our meeting with Dagang NeXchange Berhad (DNeX), we came away with better clarity on the group’s strategic direction, operational focus and emerging growth pillars.

The company continues to anchor itself in three high-impact verticals;-
1. Semiconductor via Silterra
2. Energy via Ping Petroleum and
3. IT services via Dagang Net Technologies
each playing a role in reshaping Malaysia’s industrial and digital ambitions.

While its latest 1Q25 headline earnings were largely impacted by a deferred tax adjustment, core operational improvements across wafer volumes and ASPs, energy production and digital margins reflect the company’s gradual regain to momentum.

We reiterate our BUY call with a revised SOP-derived target price (TP) of RM0.33, as we roll forward our valuation to 2026F while adjusting for more conservative monetization assumptions, primarily on the technology fronts.

The group exited the 1Q25 with a net cash balance of RM106mn, while total borrowings were nearly halved to RM132mn, thanks to the full settlement of the USD50mn Nordic bond tied to Ping’s UK operations.

Source: BIMB

https://klse.i3investor.com/web/priceta ... arch/75721

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DNeX 2Q25 profit surges fourfold to RM19.9mil

“In the UK, Ping Petroleum Limited remains focused on maximising production from the Anasuria Cluster, while in Malaysia, the group is progressing towards first oil from the Abu Cluster,” Chong said.

For the second quarter ended June 30 (2Q25), DNeX’s net profit surged nearly fourfold to RM19.9mil, or 0.57 sen per share, from RM5mil, or 0.15 sen, a year earlier.

Revenue, however, slipped to RM262.7mil from RM298.1mil.

Despite the stronger quarterly earnings, the group posted a net loss of RM59.1mil on revenue of RM559.5mil for the first half.

As at June 30, DNeX maintains a strong net cash position with a total cash balance of RM533.1mil, total asset of RM4.1bil and total equity of RM2.1bil.

Source: The Star

https://www.thestar.com.my/business/bus ... o-rm199mil

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Dnex eyes next-generation projects after NSW win

BIMB Research said it was maintaining the group’s earnings forecasts.

The bigger picture, however, is the transformation of Dnex’s IT playbook.

Dnex, through its subsidiary Dagang Net Technologies Sdn Bhd secured a one-year extension starting Sept 1, with the option for another one-year extension.

BIMB Research said while the NSW continues to anchor Dnex’s IT segment, contributing around 74%, and 8% to the group’s topline, the company is pivoting toward higher-value, next-generation projects.

These include the Malaysia Maritime Single Window, iGFMAS, and sovereign cloud project, a landmark partnership with Google Cloud and Gamuda Bhd under a 50:50 joint venture.

These initiatives are expected to collectively enhance recurring revenue for the IT segment, which now contributes roughly 14% of the group’s overall revenue.

The NSW is a one-stop digital platform that links businesses with government agencies, banks, and logistics partners through a single system.

It supports over 45,000 users, handles more than 100 million transactions every year, and connects to 36 agencies, 16 banks, and 167 Customs stations nationwide.

Under the renewed contract, Dnex will continue providing its six key services, eDeclare, eManifest, ePCO, ePermit, ePermitSTA, and ePayment, which enable smooth, secure, and efficient trade operations.

This is the sixth consecutive extension to operate the NSW platform, cementing Dnex’s reputation as one of the digital gatekeepers for Malaysia’s trade infrastructure.

This marks over 16 years of uninterrupted stewardship, with exclusivity remaining firmly with Dnex since the platform’s inception.

NSW charges reportedly remain unchanged at 75 sen per kilobyte for government users and 80 sen per kilobyte for private-sector users, along with RM5 per successful permit or certificate of origin application, consistent with previous terms and reaffirming the annuity-like nature of this income stream.

Source: The Star

https://www.thestar.com.my/business/bus ... er-nsw-win