DNEX eyes double-digit revenue, profit growth
PETALING JAYA: Dagang NeXchange Bhd (DNEX) is eyeing double-digit revenue and profit growth this year, driven mainly by its IT and e-services business, as well as the growing power business.
Group managing director Zainal Abidin Jalil said the company managed to expand its IT and e-services segment through initiatives such as the Vehicle Entry Permit and Road Charge System project involving foreignregistered vehicles entering Malaysia via Johor and the eWork Permit System development for the rehiring of illegal foreign workers from 15 countries.
“The company continues to strengthen its position in providing e- services in the business-to-government segment, while making inroads into business- to- business and business- to- consumer services, thus adding value and complementing its existing offering,” he told reporters after the company’s annual general meeting yesterday.
Going forward, he said power business was expected to play a bigger role in the company’s growth and become a par contributor to its revenue alongside IT and e- services business.
He said the company was planning to invest less than RM50 million this year for capital expenditure, with most of the investment meant for power business.
Zainal Abidin said the company was also keen to enter Indonesia’s power generation sector and was currently in the bidding process to build a mini hydro plants in the country with the capacity of two to three megawatt (MW), as well as a geothermal station with the capacity of 30 MW.
“Indonesia, being hungry for power, has a large number of deals, tenders and opportunities. It is also quite diverse and that is why we are participating in Indonesia. The tariff is also better compared with other places,” he said, adding that the conclusion of the bidding process was expected to be announced by year-end.
Besides Indonesia, the company is also participating in the bidding process for a solar farm in Malaysia and the result is also expected to be announced by year-end. — Bernama