Dagang NeXchange bags overseas contracts worth RM11.5mil

PETALING JAYA: Dagang NeXchange Bhd (DNeX) has bagged two contracts for cable repair works in the Philippines and Indonesia totalling US$2.78mil (RM11.54mil).

In separate filings with Bursa Malaysia yesterday, DNeX said its 51%-owned subsidiary DNeX Telco Services Sdn Bhd, had accepted the award from Indonesian submarine cable system services provider Pt Bina Nusantara Perkasa to carry out the works for cable ship KDDI Pacific Link.

DNeX said the project will be valid for a principal of 29 days, with an option for extension of up to 35 days.

“Barring any unforeseen circumstances, the project is expected to contribute positively towards the future earnings and net assets per share of DNeX over the tenure of the project,” the company said.

In August, DNeX was awarded a sub-contract of marine fibre optic cable installation for Telkom Infra in Indonesia valued at US$3.6mil (RM15mil).

Under the project, DNeX said that it would be responsible for the design, construction and installation of about 700 km 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.

DNeX is a provider of award-winning e-Services for trade facilitation and has a wealth of knowledge, expertise and operational knowhow in the provisioning of e-Services for trade facilitation, IT consultancy and cyber security. It is also making its mark in the oil and gas and energy sectors.

DNeX’s net profit for its second quarter ended June 30 grew 2% to RM12.16mil from RM11.93mil in the previous corresponding period, boosted by recurring income from operating and managing its vehicle entry permit and road charge system.

Earnings were also bolstered by continued growth in the group’s business-to-business and business-to-government segments.

Revenue in the second quarter increased to RM51.18mil from RM49.11mil a year earlier.