DNeX posts net profit of RM51.6mil in Q3

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KUALA LUMPUR: Dagang Nexchange Bhd (DNeX) posted a net profit of RM51.6 million in the third quarter ended March 31, 2022 after chalking up income of RM382.64 million for the quarter beneath overview.

There is not any comparability for the quarter ended March 31, 2022 as a result of change in the monetary year-end from Dec 31 to June 30, 2022.

“The new know-how and vitality segments continued to be the principle earnings contributor to the group, underpinned by DNeX’s strategic investments in SilTerra Malaysia Sdn Bhd and Ping Petroleum Ltd,” it mentioned in an announcement right now.

The firm mentioned the brand new know-how section that included SilTerra, stood as the most important contributor at RM232.1 million, accounting for 60.7 per cent of whole income, adopted by the vitality section with RM102.9 million in income or 26.9 per cent whereas the remaining RM47.6 million or 12.4 per cent was from the data know-how section.

Group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir mentioned the strong set of monetary outcomes regardless of the geopolitical uncertainty and volatility affecting world markets.

“This is a outcome of the group’s resilience and relentless pursuit to concentrate on methods that enhance bottom-line efficiency,” he added.

Syed Zainal mentioned SilTerra would proceed to profit from the prolonged world semiconductor business upcycle, supported by a number of long-term wafer provide agreements and a shift in product combine to incorporate new applied sciences which are geared in the direction of information centres, 5G networks and life sciences purposes.

“In addition, the deliberate enlargement to ramp up SilTerra’s annual manufacturing capability by 10 per cent by early 2023 will translate to raised economies of scale, with additional enchancment in manufacturing value,” he mentioned.

The group can also be exploring new alternatives to develop its semiconductor fabrication capabilities and handle the robust world demand for semiconductors. – Bernama



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