DNeX to give attention to price optimisation

KUALA LUMPUR: Dagang Nexchange Bhd (DNeX) will give attention to optimising prices whereas maximising enterprise worth to make sure long-term sustainability, in line with group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir.

“In view of the worldwide financial uncertainties forward, the Group will give attention to optimising prices whereas maximising enterprise worth to make sure long-term sustainability.

“Moreover, the strengthening of the US greenback is beneficial to the group with greater than 80% of the group’s income transacted in US greenback. Notably at SilTerra Malaysia Sdn Bhd, we’ll proceed to give attention to investing in new rising applied sciences that command larger common promoting costs for long-term sustainability,” he stated in a press release.

Syed Zainal stated its vitality division is anticipated to learn from stabilising Brent crude oil costs over the close to time period on the again of Russian oil sanctions and manufacturing cuts by OPEC+.

“We’re eager to unlock the remaining financial reserves by infill drilling and facility debottlenecking. We’re assured that our Vitality enterprise, anchored by Ping Petroleum Restricted, will proceed to develop as a Malaysian-led firm and broaden and unlock the potential of different belongings throughout the UK and Southeast Asia area,” he added.

Within the first quarter ended Sept 30, DNeX’s web revenue tumbled 85.8% to RM41.7mil, or earnings per share of 1.32 sen towards RM293.6mil, or 9.81 sen in the identical quarter final yr.

“Included in 1Q22 PAT was a one-off detrimental goodwill of RM264.5mil from the acquisition of SilTerra. Excluding this, PAT for 1Q23 elevated by 85%, and revenue after tax and non-controlling curiosity improved by 44% year-on-year,” DNeX stated.

Income, nonetheless, surged 55% to RM419.6mil from RM270.9mil a yr prior, pushed by larger contribution from the expertise and vitality companies.

DNeX’s steadiness sheet continues to stay wholesome. As at Sept 30, the group was in a web money place with complete money of RM1.05bil exceeding complete borrowings of RM322.6mil.