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[公司专区] 4456 DNEX 迪耐

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发表于 2018-6-6 13:50 | 显示全部楼层
First four members of National Agriculture Advisory Council named

PUTRAJAYA, June 5 — The first four members of the National Agriculture Advisory Council who among others will help the government raise the level of national food security and agricultural exports, were named today.

They are Dagang NeXchange Bhd chairman Tan Sri Abdul Rahman Mamat, Leong Hup International Sdn Bhd executive director Tan Sri Francis Lau Tuang Nguang, Universiti Putra Malaysia Institute of Agriculture and Food Policy Studies director Datin Paduka Fatimah Mohd Arshad and young influential entrepreneur Mohd Najib Asaddok.

Agriculture and Agro-based Industry Minister Salahuddin Ayub, who announced the names during a press conference at his ministry here today, said their involvement was expected to contribute substantially to the ministry and to achieve the objectives set out.

“The selection of these figures is appropriate in making recommendations to the ministry as the country still has a national food safety level that is dependent on imports and on boosting agricultural exports,” he said.

Salahuddin said the council in the early stages would meet every two weeks chaired by Abdul Rahman and they were given the freedom to give insights into the future of the country’s agriculture.

He said one of his ministry’s deputy secretary-general will sit on the council to serve as a facilitator, especially on matters pertaining to bureaucracy and administration.

On the Hari Raya celebration, Salahuddin said his ministry would continue to play a role in ensuring all agricultural supplies were sufficient for the celebration.

“As there is no Ministry of Domestic Trade, Cooperatives and Consumerism (KPDNKK) yet, Prime Minister Tun Dr Mahathir Mohamad has assigned both the KPDNKK’s secretary general and my ministry’s secretary-general to carry out the duties of enforcing price controls,” he said.

On the proposal to revoke Padi Beras Nasional Bhd’s (BERNAS) concession as the sole importer of rice, Salahuddin said he had instructed the ministry’s secretary-general to make a proposal on it.

“We will also ask an advisory body consisting of authoritative figures to make a proposal to do away with this monopoly and then it will be combined with the ministry’s proposal paper for the preparation of the Cabinet papers to be brought to the Cabinet meeting for approval,” he said. — Bernama

https://www.malaymail.com/s/1638 ... isory-council-named

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发表于 2018-6-6 15:33 | 显示全部楼层
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发表于 2018-6-6 19:38 | 显示全部楼层
DNeX targets to increase profit by 20% over two years

Wednesday, 6 Jun 2018 3:32 PM MYT

KUALA LUMPUR: Dagang Nexchange Bhd  (DNeX) is targeting to grow its revenue by 30% and increase its net profit by 20% over the next two years.

This will be driven by the expansion of its business-to-business offerings. They include trade facilitation, financial and accounting services, RFID solutions, portable container systems, as well as scaling up of its upstream oil and gas business.

In financial year 2017, the IT & e-services segment constituted 69% or RM140.2mil of total group revenue and the energy segment accounted for the remaining 31%  or RM63.7mil.

Speaking after the group’s AGM, DNeX group managing director Zainal Abidin Jalil said DNeX was well-positioned for profitable growth.

“With our two core business divisions, IT & e-services as well as energy, we have a sustainable business model.

“DNeX is committed to create and capturing new opportunities. It is set to continue expanding its business through executing planned initiatives and exploring opportunities that leverage on the company’s core competencies as well as pursue strategic investments,” he said.

Zainal added that as a technology inclined company, the group was well-positioned to participate in the open tender system, competing based on merit.

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发表于 2018-6-6 23:31 | 显示全部楼层
DNeX upbeat on prospects under new govt, targets 20% PAT growth

Justin Lim / theedgemarkets.com

KUALA LUMPUR (June 6): Dagang NeXchange Bhd (DNeX) is upbeat about its prospects under the new government that has pledged to be business-friendly, and says the group is set to continue to expand its business via planned initiatives as well as the exploration of new opportunities.

The group is targeting a 20% growth in profit after tax for its financial year ending Dec 31, 2018 (FY18), on a 30% growth in revenue, which its group managing director Zainal Abidin Jalil told reporters today would be driven by improved performance from its two core business divisions.

DNeX's FY17 core profit after tax grew 76% year-on-year to RM55.2 million from RM31.3 million in FY16 — after excluding a one-off recognition of negative goodwill of RM88.9 million arising from the acquisition of Ping Petroleum Ltd in FY16 — as revenue rose 14% y-o-y to RM204 million from RM178.4 million.

"We are well positioned for profitable growth and with our two core business divisions namely IT and e-Services, as well as energy, we have a sustainable business model.

"DNeX is committed to create and capture new opportunities by leveraging on the company's core competencies as well as pursue strategic investments," Zainal said after the group's annual general meeting.

The group is also eyeing a tender that it expects the government to call for — implementation of the Road Charge Vehicle Entry Permit (RCVEP) project for the Malaysia-Thai borders. "The new government will likely call for a tender for that, and we are getting ready," Zainal said.

The group was appointed the exclusive project consultant for the RCVEP project last year.

On the expected value of the tender, Zainal declined to speculate, saying only that it might be different than the RCVEP system that involves foreign-registered vehicles entering Malaysia via Johor, as the volume of cars crossing the Malaysia-Thai border is lower.

The company secured the RM104.3 million contract last year to manage operate and manage the southern RCVEP system for five years.

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发表于 2018-6-7 08:11 | 显示全部楼层
本帖最后由 snowman1621 于 2018-6-7 14:48 编辑

DNeX poised for further expansion this year

07 June, 2018

KUALA LUMPUR: Dagang NeXchange Bhd (DNeX) is set to continue expanding its business through executing planned initiatives and exploring opportunities that leverage its existing business building blocks.

Group managing director Zainal Abidin Jalil said the company’s business was firmly anchored on two business divisions, namely information technology (IT) and e-Services, as well as its successful diversification into energy where it had established a business model with positive results.

“The company is committed to creating and capturing new opportunities by leveraging on the company’s core competencies as well as pursue strategic investments,” he told reporters after the company’s annual general meeting yesterday.

In the energy sector, he said DNeX had reaped returns from its acquisitions in OGPC Group and investment in Ping Petroleum Limited, which had contributed positively towards the company’s financial results.

Meanwhile for the IT and e-Services, Zainal said trade facilitation continued to be a significant segment with the extension of the National Single Window concession to August 2019 and plans to expand similar services abroad.

DNeX executive deputy chairman Datuk Samsul Husin said under the trade facilitation, the company had expanded its services to business-to-business (B2B) e-Services, namely through SEALNET, a web-based one-stop portal for total cargo and trade management services.

The company was also building its competency in accounting and financial services with the acquisitions of two consultant and accounting system services companies – Genaxis Sdn Bhd and Innovation Associates Consulting Sdn Bhd, he added.

Commenting on the new government, Zainal said that DNeX is well positioned to participate in the new regime’s open tender policy.

“The (new) Malaysian government is very pro-business. They are also putting a lot of emphasis on ‘government process improvement’ with focus on transparency and related matters.

“We no longer need to rely on intermediary organisations to secure contracts, as we can now compete based on merit. So I hope we can prove that we can actually compete through merit,” he added. — Bernama

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发表于 2018-6-7 09:49 | 显示全部楼层
KUALA LUMPUR: Dagang Nexchange Bhd (DNeX) is expanding on its business-to-business offerings by focusing on five growth areas.

These areas are trade facilitation, financial and accounting services, RFID solutions, portable container systems, as well as scaling up of its upstream oil and gas business.

Speaking after its AGM, group managing director Zainal Abidin Jalil (pic) said DNeX is competing and building scale in the trade facilitation services segment.

“We are working with the Pan Asian Alliance community and other international players to establish our presence in cross-border trade facilitation.

“We are expanding our target market in the Asian Pacific and we have to create value by integrating cross-border connectivity with all players in the Asia-Pacific,” he said.

DNeX is targeting to grow its revenue by 30% and increase its net profit by 20% over the next two years.

For the financial year ended Dec 31, 2017 (FY17), DNeX registered a revenue of RM204mil, of which the IT and e-services segment constituted 69% while the energy segment accounted for the remaining 31%.



Net profit in FY17 fell 53.5% to RM56.6mil, due to a one-off recognition of negative goodwill of RM88.9mil arising from the acquisition of Ping Petroleum Ltd in FY16.

Apart from that, DNeX shall scale up and build its strengths in the services and offerings in recently acquired consulting and accounting system services companies, Genaxis Sdn Bhd and Innovation Associates Consulting Sdn Bhd (IAC).

The acquisition comes with a yearly profit guarantee of RM5mil for a total of three years.

Genaxis and IAC are expected to achieve a combined revenue of RM50mil to RM60mil by year-end.

Meanwhile, DNeX also intends to tender for the vehicle entry permit (VEP) and road charge (RC) systems project at the Malaysia-Thailand border.

Zainal said the group is working on the proposal, but declined to elaborate further.

As for the energy segment, DNeX is setting up a joint-venture company to establish its market presence in the small-scale renewable energy sector.

The group shall also continue to seek additional opportunities in the North Sea, and achieve a balanced and diversified portfolio of assets.

DNeX intends to secure additional exploration blocks of oilfields this year.

On the new government and its pro-business stance, Zainal said with DNeX being a technology-inclined company, the group is well-positioned to participate in open tender systems and compete based on merit.

   

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发表于 2018-6-7 14:50 | 显示全部楼层
本帖最后由 snowman1621 于 2018-6-7 14:52 编辑

DNeX identifies five growth areas

Thursday, 7 Jun 2018

KUALA LUMPUR: Dagang Nexchange Bhd (DNeX) is expanding on its business-to-business offerings by focusing on five growth areas.

These areas are trade facilitation, financial and accounting services, RFID solutions, portable container systems, as well as scaling up of its upstream oil and gas business.

Speaking after its AGM, group managing director Zainal Abidin Jalil said DNeX is competing and building scale in the trade facilitation services segment.

“We are working with the Pan Asian Alliance community and other international players to establish our presence in cross-border trade facilitation.

DNeX is targeting to grow its revenue by 30% and increase its net profit by 20% over the next two years.

For the financial year ended Dec 31, 2017 (FY17), DNeX registered a revenue of RM204mil, of which the IT and e-services segment constituted 69% while the energy segment accounted for the remaining 31%.

Net profit in FY17 fell 53.5% to RM56.6mil, due to a one-off recognition of negative goodwill of RM88.9mil arising from the acquisition of Ping Petroleum Ltd in FY16.

Apart from that, DNeX shall scale up and build its strengths in the services and offerings in recently acquired consulting and accounting system services companies, Genaxis Sdn Bhd and Innovation Associates Consulting Sdn Bhd (IAC).

The acquisition comes with a yearly profit guarantee of RM5mil for a total of three years.

Genaxis and IAC are expected to achieve a combined revenue of RM50mil to RM60mil by year-end.

Meanwhile, DNeX also intends to tender for the vehicle entry permit (VEP) and road charge (RC) systems project at the Malaysia-Thailand border.

Zainal said the group is working on the proposal, but declined to elaborate further.

As for the energy segment, DNeX is setting up a joint-venture company to establish its market presence in the small-scale renewable energy sector.

The group shall also continue to seek additional opportunities in the North Sea, and achieve a balanced and diversified portfolio of assets.

DNeX intends to secure additional exploration blocks of oilfields this year.

On the new government and its pro-business stance, Zainal said with DNeX being a technology-inclined company, the group is well-positioned to participate in open tender systems and compete based on merit.

Read more at https://www.thestar.com.my/busin ... SvB2PDFwcOsVQ6Yo.99

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发表于 2018-6-7 18:18 | 显示全部楼层
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发表于 2018-6-7 19:07 | 显示全部楼层
单一窗口到期后面临新竞争 DNeX营收仍可成长30%

Sinchew  07 June, 2018

(吉隆坡7日讯)尽管单一窗口(NSW)在明年9月截止后,新竞争者虽对迪耐(DNEX,4456,主板贸服组)营业额造成些许影响,但管理层相信,该公司仍可维持亮眼表现,未来营业额及税前净利成长可分别取得30%及20%。

迪耐董事经理再纳阿比丁在股东大会后表示,基于单一窗口特许经营权将在明年9月到期,届时有新的竞争者加入下,营业额可能会下跌少许,但相信仍可维持不错的表现。

国家单一窗口业务主要是为政府提供设计、开发、营运和维修政府,属于迪耐旗下资讯科技业务(IT)。

获泰VEP合约

再纳也表示,大马新政府执政下,开放竞标合约,更处于有利环境。“我们曾经是政府相关公司,但过去4年进行了多项重组计划,现在已经不再是了。”

再纳表示,迪耐亦获得泰国政府委任外国车辆入境准证(VEP)项目处理顾问合约。

他说:“若大马新政府有意招标上述项目,我们也准备好了。”

不过,再纳拒绝透露竞标合约的价值。

再纳透露,2015至2017年,该公司IT业务营业额从9230万令吉增长至1亿4020万令吉,税前盈利从2440万令吉走高至4380万令吉。

他表示:“2017年至2019年,大马政府IT开销预期从6162万6000令吉至6845万9000令吉,高于全球平均开销水平,预期未来仍会成长。”

再纳透露,迪耐另一核心业务——OGPC及Ping石油公司仍可做出正面贡献及成长。

“2015年,能源业务税前亏损为400万令吉,但2017年税前盈利却成长至2030万令吉。”

点评

謝謝分享  发表于 2018-6-9 15:03

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发表于 2018-6-7 21:35 | 显示全部楼层
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发表于 2018-6-7 22:06 | 显示全部楼层
“国家单一窗口”具竞争优势
迪耐有信心保政府合约

Nanyang 2018年6月7日  

再纳:迪耐极力摆脱官联企业的形象,但仍有不少政府合约。

(吉隆坡6日讯)在新政府积极检视政府合约之际,迪耐(DNEX,4456,主板科技股)有信心旗下相关合约不受影响,包括明年8月杪截止的“国家单一窗口”(NSW)系统。

迪耐集团董事经理再纳阿比丁,今天在第48届股东常年大会后,被问及是否担心被政府中途终止合约时,做出上述回应。

“政府是检视每一家公司(与政府合作)的合约。至少我们还具有市场竞争优势。”

“当然,每个人都想知道(检视)的结果。我相信我们的项目可维持现况,因为我们是一家专业的科技公司。”

“国家单一窗口”是迪耐为政府提供的电子服务系统,主旨是提高国家的贸易便捷。

再纳也提到,我国政府注重改善行政效率且亲商,同时在资讯和科技(IT)领域上的投资额增长率,高于世界平均水平4.5%,达到5.7%。

虽然迪耐在过去一段时间极力摆脱官联企业的形象,不断拓展私人领域的版图,甚至多元化至油气业,但现仍有不少政府合约贡献盈利。

该公司于2009年获得“国家单一窗口”项目,并获得前朝政府连续延长项目有效期。在去年12月20日,该合约再次获延长至明年8月31日。

据2017财年年度报告,该项目为迪耐贡献了46%营业额。

今年净利料增20%

另一方面,迪耐放眼今年的营业额和净利,能够分别获得按年30%和20%的增长。

迪耐在2017财年的营业额劲扬86.77%,报1亿7845万5000令吉;净利1亿3374万3000令吉,暴增10.91倍。

另一方面,在今年1月收购51%股权的GENAXIS集团私人有限公司,能为该公司带来最高6000万令吉的总营业额,并在未来3年贡献每年500万令吉的保证盈利。

至于在泰国公路收费(Road Charge,RC)及外国车辆入境准证(Vehicle Entry Permit,VEP)系统,再纳仅透露,该公司正与TIFFA EDI服务有限公司合作竞标,不过没有列出合约价值。

迪耐在去年2月,获TIFFA EDI受委为上述边境相关项目的专用项目顾问。

点评

謝謝分享  发表于 2018-6-9 15:04

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发表于 2018-6-8 21:55 | 显示全部楼层
本帖最后由 snowman1621 于 2018-6-8 22:17 编辑

DNeX set to continue business expansion

Kuala Lumpur, 6 June 2018 – Dagang NeXchange Berhad (“DNeX”) is set to continue expanding on its business through executing planned initiatives, and exploring opportunities that leverage on existing business building blocks.

The company’s business is firmly anchored on two business divisions namely IT & e-Services, and Energy, which diversification has been successfully executed, and business model has been established and results have been positive.

DNeX’s performance is motivated from the company’s determination to create long term value for shareholders through translating its core competencies into business opportunities.

The company registered a strong set of results in the financial year ending 31 December 2017 (“FY2017”) where it recorded RM204.0 million in revenue, an increase of 14 per cent from RM178.4 million in the financial year ended 31 December 2016 (“FY2016”).

Trade Facilitation and Business-to-Business (“B2B”) segments continue to serve as core revenue drivers of DNeX. In addition, the company made good progress during the year as it ventured into new business revenue streams across both its core business divisions.

Its growth in revenue is also attributable to higher contribution from the Energy segment, which more than doubled to RM63.7 million from RM28.9 million in FY2016, mainly due to the full year consolidation of OGPC Group (“OGPC”).

DNeX’s FY2017 core profit after tax (“PAT”) grew by 76 per cent to RM55.2 million from the core PAT of RM31.3 million in FY2016, excluding the one-off recognition of negative goodwill of RM88.9 million arising from the acquisition of Ping Petroleum Limited (“Ping”) in FY 2016.

“We are well positioned for profitable growth and with our two core business divisions namely IT & e-Services as well as Energy, we have a sustainable business model. DNeX is committed to create and capture new opportunities by leveraging on the company’s core competencies as well as pursue strategic investments,” said En Zainal Abidin Jalil, Group Managing Director of DNeX. He said in Energy, DNeX has reaped returns from its acquisitions in OGPC Group and investment in Ping Petroleum Limited (“Ping”), which have also contributed positively to the company’s financial results.

In IT & e-Services, meanwhile, Trade Facilitation continues to be a significant segment with the extension of the National Single Window (“NSW”) concession to August 2019, and plans to expand similar services abroad.

According to Datuk Samsul Husin, Executive Deputy Chairman of DNeX, under Trade Facilitation, DNeX is expanding its services to Business-to-Business (“B2B”) e-Services namely through SEALNET, a Web-based one-stop portal for total cargo and trade management services.

In the Halal segment, he said, DNeX has hit key milestones recently with the launch of AIIVA, a Web-based Halal Logistics Management System (“HLMS”), and two memoranda of understanding to work together in the development of a Halal Park in the Philippines.

The company is also building its competency in accounting and financial services with the acquisitions of two leading consulting and accounting system services companies, Genaxis Sdn Bhd (“Genaxis”) and Innovation Associates Consulting Sdn Bhd (“IAC”), he added.

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发表于 2018-6-8 21:58 | 显示全部楼层
本帖最后由 snowman1621 于 2018-6-12 22:54 编辑

DNeX unfazed by contracts review

Thursday, June 7th, 2018        at , Business | News

By FARA AISYAH

Dagang NeXchange Bhd (DNeX) is not worried about the status of its ongoing contracts despite concern that the present government intends to probe into all projects related to the previous administration.

DNeX group MD Zainal Abidin Abdul Jalil believes the company will retain all existing contracts related to the government.

“The government has been reviewing everyone’s contracts. However, we are not worried as we are seen as a technocrat-driven company.

“I think it’s a good thing. I believe the opportunity to participate when there is an open tender is an advantage,” he told reporters at DNeX AGM in Kuala Lumpur yesterday.

Zainal Abidin said the company hopes to achieve 30% and 20% increases in revenue and net profit year-on-year (YoY) respectively on the back of its trade facilitation, financial and accounting services, radio frequency identification solutions and portable container systems services.

DNeX registered a strong set of results in the financial year ending Dec 31, 2017 (FY17), with RM204 million in revenue, an increase of 14% YoY on higher contribution from its energy segment.

Its trade facilitation and business-to-business segments continue to serve as its core revenue drivers.

The energy business’ revenue rose to RM63.7 million last year from RM28.9 million in FY16, mainly due to the fullyear consolidation of OGPC Group.

DNeX’s FY17 core net profit grew 76% YoY to RM55.2 million, excluding the one-off recognition of negative goodwill of RM88.9 million, arising from the acquisition of Ping Petroleum Ltd in FY16.

On information technology and e-services, trade facilitation continues to be a significant segment with the extension of the National Single Window (NSW) concession to August 2019, along with plans to expand similar services abroad.

Although DNeX will no longer be the exclusive operator for NSW by September 2019, Zainal Abidin is confident the company will remain a dominant player in the sector.

“We have been appointed as one of two service providers of NSW post-September 2019 that deliver similar services. Our revenue from NSW might drop a little, but we will still retain a substantial amount,” he added.

DNeX hit a key milestones recently in the halal segment with the launch of a web-based halal logistics management system — AIIVA — and the signing of two memoranda of understanding to develop a halal park in the Philippines.

The company is also building its competency in accounting and financial services with the acquisitions of two leading consulting and accounting system services companies, Genaxis Sdn Bhd and Innovation Associates Consulting Sdn Bhd.

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发表于 2018-6-9 16:26 | 显示全部楼层
DNeX - 1QFY18 - Genaxis growth

Author: kltrader   |    Publish date: Fri, 25 May 2018, 05:30 PM

- DNeX 1Q17 core profit grew 18% yoy and 21% qoq mainly due to structural boost from IT segment. Overall, 1QFY18 core earnings of RM17.7m were inline with ours and consensus’ estimate at 28% and 26% respectively.

- IT services pretax profit almost doubled to RM25.3m yoy due to of 51% stake in Genaxis and 60% of Genaxis’ subsidiary, the Innovation Associates Consulting (IAC).

- Delay of PCS delivery and weaker contribution from Ping led to sequential decline in pretax profit of the energy segment.

- We maintain our BUY call with an unchanged TP of RM0.52. We see its selective M&As including Genaxis and IAC will further enhance its position in e-government space.

Core earnings growth remained intact
After adjusting for impairment on inventory losses worth RM1.2m, DNeX’s 1Q18 core earnings grew 18% yoy and 21% qoq to RM17.7m, driven by acquisition of Genaxis boosting its IT segment. Overall, 1Q18 core earnings were inline with ours and consensus’ estimates at 28% and 26% respectively.

Enhancing IT segment through acquisition
The pretax profit of the IT segment grew significantly to RM25.3m (1Q17: RM14.1m; 4Q17: RM8.8m) following consolidation of Genaxis. Recall that DNeX acquired 51% stake in Genaxis and 60% of its subsidiary (i.e. Innovation Associates Consulting) on 25 Jan 2018 for a total sum of RM33.7m.

Energy segment turned weaker

On quarterly basis, pretax profit of the energy segment eased to RM4.3m (4Q17: RM9m) due to weaker results from both Ping and ex Ping business segments. The ex-Ping pretax losses widened to RM1.8m (4Q17 LBT: RM0.2m) as revenue fell 41% to RM11.8m (4Q17: RM19.9m) amidst delay in delivery of portable container system (PCS) at select fisherman ports. Management attributed the delay to site readiness and local authorities’ approval. Recall that in 4Q17, the PCS business contributed RM3.8m of revenue. Meanwhile, contribution from Ping declined further to RM6.1m (4Q17: RM9.2m) despite potentially benefitting from higher realised crude oil prices.

Maintain BUY with unchanged TP at RM0.52
We maintain our BUY call on the stock with unchanged TP of RM0.52, derived using SOP methodology. We think the combination of various expertise through acquisition exercise (such as Genaxis and IAC) would benefit DNeX and enhance its position in e-government space going forward.

Source: BIMB Securities Research - 25 May 2018

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发表于 2018-6-9 20:45 | 显示全部楼层
本帖最后由 snowman1621 于 2018-6-12 23:00 编辑

DNeX focuses on trade facilitation - https://www.youtube.com/watch?v=3GPpUezZCtU

Dagang Nexchange Bhd (DNeX) executive deputy chairman Datuk Samsul Husin is establishing its presence in cross-border trade facilitation by working with the Pan Asian Alliance community and other international players.


DNeX looking to expand its National Single Window - http://www.theedgemarkets.com/ar ... ional-single-window

DAGANG NeXchange Bhd (DNeX) is looking to replicate its National Single Window (NSW) for trade facilitation in Asia-Pacific and Africa.


DNeX partners with Chinese party to enhance cross border trade - https://www.nst.com.my/business/ ... -cross-border-trade

KUALA LUMPUR: Dagang NeXchange Bhd (DNeX) has signed a memorandum of understanding (MoU) with Asia-Pacific Model E-Port Network (APMEN) Operational Center to work together towards more efficient cross border trade between Malaysia and China.

Under the MoU, DNeX and APMEN Operational Center will seek to energise trade between the two countries through the adoption of a comprehensive and innovative cooperation programme.

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发表于 2018-6-11 10:38 | 显示全部楼层
本帖最后由 snowman1621 于 2018-6-12 22:57 编辑

DNex sees demand for portable container systems for fuel in rural areas

Posted on 10 June 2018 - 08:21pm
Last updated on 10 June 2018 - 08:58pm
V. Ragananthini
sunbiz@thesundaily.com

PETALING JAYA: Diversified business group Dagang Nexchange Bhd (DNex) sees demand for portable container systems (PCS) as a source of fuel supply in remote areas, especially among communities which rely on the pricey community drumming for fuel supplies.

The PCS, a 20-feet self-contained modular fuel storage and dispensing unit, with a capacity of holding up to 30,000 litres of fuel, is targeted to be used for the supply of petrol at the fish landing jetty in Malaysia.

DNex was awarded a contract worth between RM50 million and RM75 million by Petro Teguh Sdn Bhd to design, engineer, procure, construct, instal and commission of up to 105 units of PCS across the country, for two years.

Petro Teguh is among the three mini petrol station chains operating in the rural areas of Malaysia, following a Cabinet decision in 2008 to standardise operations of unbranded mini stations. The other two companies are IPTB Sdn Bhd which operates Buraqoil and Smart Stream Resources.

Dnex managing director Zainal Abidin Jalil said there is a “clear demand and interest” for the service which offers RON 95 petrol at retail price of RM2.20 and diesel to replace the community drumming fuel supply, which could go up to RM8.50 per litre.

The price is further subsidised to RM1.65 for fishermen.

“Remote places have been left behind and we want to decentralise economic activities to where people are working and living,” he said.

The group is looking to complete at least 50 units of PCS by year end and the remaining by 2019.

Zainal Abidin said the PCS’s are in various stages of completion and there is one up and running in Sabak Bernam, Selangor.

The contract also covers maintenance and supply of parts for 10 years, from which DNex is looking to recognise a revenue of RM2 million per annum from 2020.

Petro Teguh managing director Datuk Azmin Mustam Abdul Karim said the idea is to create a one-stop centre for the fishermen community which comprises not only a fuel station but refrigeration and drying facilities for fish and a Kedai Rakyat 1Malaysia 2.0.

A PCS will cost RM600,000 to RM750,000 as opposed to a full-fledge petrol station which would cost between RM3 million and RM5 million.

Maintenance cost for a petrol station would be about RM3,000 a month and would only require one or two operators.

Prior to the DNex deal, Petro Teguh already had 27 PCS stations under its wing, including one in Pulau Tuba, Langkawi.

Petro Teguh has also set its sights on Southern Philippines, a deal which could rake in RM28 million for some 35 PCS.

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发表于 2018-6-11 20:12 | 显示全部楼层
Dagang NeXchange Berhad - Strong FY18 Ahead

Author: sectoranalyst   |    Publish date: Mon, 11 Jun 2018, 11:29 AM

We emerged from Dagang NeXchange Bhd’s (DNeX)’s analyst briefing feeling positive on its prospects. This is in spite of minor near-term challenges, which include 1) delay in delivery of Portable Container Systems (PCS) and 2) weakness at its Energy (ex-Ping) segment. That said, we expect major growth in FY18, underpinned by 1) acquisition of Genaxis consulting firm, 2) stronger crude oil price, and 3) new TnG connectivity contract. We raise our FY18/19/20 forecasts by 16.0%/11.6%/11.1%, and we maintain Buy on DNeX. However, we ascribe a lower PER multiple for its IT segment, and arrive at a lower SOP target price of RM0.64.

Acquisition of Genaxis and IAC Excites
Management focused mainly on the recent acquisition of Genaxis (51% subsidiary) and Innovation Associates Consulting (IAC) (60% subsidiary via Genaxis). To recap, IAC is the largest Malaysian consulting firm and competes with the likes of PwC, Ernst & Young, and Accenture. According to management, IAC has the edge when it comes to government contracts as it is cheaper but tends to fall short in the private sector given the lack of global experience. Nevertheless, IAC received the contract to implement 1GFMAS (Government Financial Management Accounting Service) valued at RM151.4mn for 3 years. Besides that, Genaxis has current orderbook of RM20mn, and is aggressively bidding for other contracts in the public and private sectors. We believe DNeX’s position as a government service provider is enhanced by the acquisition of the two consulting firms.

Ping Diversifies Assets
Management revealed that 30%-owned Ping Petroleum (i.e. Anasuria cluster operator) is diversifying its asset base. We understand that Ping will begin development of its Avalon greenfield located at the North Sea, offshore Ireland. Additionally, the group is bidding for additional exploration fields in the North Sea. Furthermore, Ping has begun bidding for an additional brownfield similar to Anasuria after losing the bid for a similar brownfield asset last year. Despite the large expected capex required, DNeX intends to request Ping to pay out dividends, given strong cashflows from the Anasuria operations. Note that Anasuria’s cash flows are directly linked to crude oil price and oil production is expected to increase after the maintenance activities carried out in FY17.

RFID Tag and TnG Connectivity
To recap, DNeX announced that it would provide connectivity between the existing Vehicle Entry Permit (VEP) system and TnG. The contract is expected to generate revenue of RM19-21mn per annum with gross profit margin of circa 35%. We understand that the RFID tag is currently encrypted on foreign vehicles entering Malaysia. However, going forward we believe the goal is to equip all local vehicles with the RFID tag and collect toll payments via RFID. Additionally, DNeX is the sole supplier for this service in Malaysia given its link to the VEP. That said, the new government’s promise to abolish tolls may result in some downside risk. On the other hand, management revealed that the subcontract via Bukti Megah to rehire foreign workers has ended.

PCS Contract Delays Persist
To recap, OGPC secured a contract to supply PCS to Petro Teguh last year. Management noted that delivery is way behind schedule and shared that only 7 systems were delivered in FY17 whilst one was delivered in 1Q18. Nevertheless, it still expects to deliver circa 50 units in FY18 and the remainder in FY19. We note that a contract tenure extension is likely, given the delays on-site. DNeX revealed that the delays were mainly due to on-site dealers taking longer than expected to meet regulatory requirements. Nevertheless, DNeX is working closely with Petro Teguh to rectify the problems at the various installation sites. Note that DNeX’s task under the contract is only to supply the PCS. Therefore, we believe that DNeX will not incur any penalties for the delays.

Outlook
We expect DNeX to take a step back from M&A activities and focus on growing and consolidating its current businesses. The Group will focus on breaking even in the oilfield services business and push delivery of PCS. Besides that, we believe DNeX may strengthen its bidding capabilities for government contracts after the acquisition of Genaxis. Furthermore, DNeX’s long-term outlook seems secured on the back of its 1) SEALNET (previously known as 1Trade) trade facilitation system and 2) development of Avalon field by Ping Petroleum.

Impact
We make the following changes to our earnings model:

1. Increase crude oil price assumption in FY18/19 to USD70/75/bbl in-line with our house forecasts.

2. Include expected earnings contribution from Genaxis after completion of acquisition.

3. Include recent TnG connectivity contract of RM19-21mn and remove rehiring of foreign worker contract.

4. Assume revenue decline for OGPC instead of 5% revenue growth previously.

5. Increase annual capex to RM40-60mn in-line with management’s guidance. Thus, we increase our earnings forecast by 16.0%/11.6%/11.1% for FY18/19/20 respectively. The decline in absolute earnings in FY20 is mainly from the loss of NSW monopoly, end of Petro Teguh PCS contract and assumption of no new contracts.

Valuation
Despite the increase in earnings forecasts, we lower TP to RM0.64 (previous: RM0.73) based on SOP valuations. This is because we ascribed a lower target of 15x CY19 PER (previous: 24x CY19 PER) for DNeX’s IT segment. This is on the back of uncertainties surrounding government IT contractors following the recent change in government. We maintain BUY on DNeX underpinned by 1) better crude oil price and 2) continued growth at its trade facilitation services.

Source: TA Research - 11 Jun 2018

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发表于 2018-6-12 13:32 | 显示全部楼层
本帖最后由 snowman1621 于 2018-6-12 22:50 编辑

Dagang NeXchange’s long-term outlook expected to be secure
TA Securities Research

The Edge Financial Daily

June 12, 2018 11:00 am +08

This article first appeared in The Edge Financial Daily, on June 12, 2018.

Dagang NeXchange Bhd
(June 11, 42.5 sen)

Maintain buy with a lower target price (TP) 64 sen: We emerged from Dagang NeXchange Bhd’s (DNeX) analyst briefing feeling positive about its prospects. Management focused mainly on the recent acquisition of Genaxis (51% subsidiary) and Innovation Associates Consulting (IAC) (60% subsidiary via Genaxis). According to management, IAC has the edge when it comes to government contracts as it is cheaper but tends to fall short in the private sector given the lack of global experience. Nevertheless, IAC received the contract to implement 1GFMAS (Government Financial and Management Accounting System) valued at RM151.4 million for three years. Besides that, Genaxis has a current order book of RM20 million, and is aggressively bidding for other contracts in the public and private sectors. We believe DNeX’s position as a government service provider is enhanced by the acquisition of the two consulting firms.

Management revealed that 30%-owned Ping Petroleum is diversifying its asset base. We understand that Ping will begin development of its Avalon greenfield located in the North Sea, offshore Ireland. Additionally, the group is bidding for additional exploration fields in the North Sea. Furthermore, Ping has begun bidding for an additional brownfield similar to Anasuria after losing the bid for a similar brownfield asset last year. Despite the large expected capital expenditure required, DNeX intends to request Ping to pay out dividends, given strong cash flows from the Anasuria operations. Note that Anasuria’s cash flows are directly linked to crude oil price, and oil production is expected to increase after the maintenance activities carried out in financial year 2017 (FY17).

DNeX announced that it would provide connectivity between the existing vehicle entry permit (VEP) system and TnG. The contract is expected to generate revenue of RM19 million to RM21 million per annum with a gross profit margin of around 35%. We understand that the RFID tag is currently encrypted on foreign vehicles entering Malaysia. However, going forward, we believe the goal is to equip all local vehicles with the RFID tag and collect toll payments via RFID. Additionally, DNeX is the sole supplier for this service in Malaysia given its link to the VEP. That said, the new government’s promise to abolish tolls may result in some downside risk. On the other hand, management revealed that the subcontract via Bukti Megah to rehire foreign workers has ended.

OGPC Sdn Bhd secured a contract to supply portable container systems (PCS) to Petro Teguh last year. Management noted that delivery is way behind schedule and shared that only seven systems were delivered in FY17 whilst one was delivered in the first quarter of FY18. It still expects to deliver around 50 units in FY18 and the remainder in FY19. We note that a contract tenure extension is likely, given the delays on-site. DNeX revealed that the delays were mainly due to on-site dealers taking longer than expected to meet regulatory requirements. DNeX is working closely with Petro Teguh to rectify the problems at the various installation sites. Note that DNeX’s task under the contract is only to supply the PCS. Therefore, we believe that DNeX will not incur any penalties for the delays.

DNeX’s long-term outlook seems secure on the back of its Sealnet (previously known as 1Trade) trade facilitation system and development of Avalon field by Ping Petroleum. — TA Securities Research, June 11

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发表于 2018-6-12 22:20 | 显示全部楼层
本帖最后由 snowman1621 于 2018-6-12 22:30 编辑

Avalon
The Avalon prospect was successfully drilled in 2014 where oil was discovered from high quality Tertiary sands. In 2017 an appraisal well was drilled on the prospect which confirmed reserves and fluid characteristics. The Avalon partners are proceeding with development concept selection.

Ranger
The 15/16d block was awarded in the 28th UK licensing round. The license contained the Ranger prospect which was drilled in July 2017 using the Stena Spey Rig. The operatorship of this block was transferred to Ping Petroleum in November 2017 who now have 100% ownership of the license.

http://www.pingpetroleum.com/assets.php

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