DNeX embarks on transformation initiatives

by FARA AISYAH/ pic by MUHD AMIN NAHARUL

DAGANG NeXchange Bhd (DNeX) is positive on its future prospects as it ramps up efforts to participate in digital transformation initiatives nationwide and regionally.

More businesses and governments are embarking on digital transformation and increasing technology budgets due to the new normal, DNeX independent non-executive chairman Tan Sri Abd Rahman Mamat said.

“There is tremendous potential for us to leverage our in-house talent and established track record to develop innovative solutions and flexible market-leading capabilities that can respond quickly to meet the technology needs of today’s demands,” he said at the group’s virtual AGM yesterday.

At the AGM, shareholders did not vote in favour of the re-election of Datuk Samsul Husin as the director of DNeX. Subsequently, he relinquished his position as DNeX executive deputy chairman.

However, Samsul is still executive chairman of Dagang Net Technologies Sdn Bhd, a wholly owned subsidiary of the group.

At a special board meeting held after the AGM yesterday, DNeX ED Mohd Azhar Mohd Yusof was appointed as acting group MD, while the group seeks a successor to drive the business in response to changing business conditions and the need for fresh ideas.

Mohd Azhar has over 20 years of experience in capital markets and corporate finance, and previously held roles at Small Medium Enterprise Development Bank Malaysia Bhd, FGV Holdings Bhd, Bursa Malaysia Bhd, Petroliam Nasional Bhd and the Securities Commission Malaysia.

“To ensure the group remains resilient to ride out the economic uncertainties ahead, there will be a critical focus on streamlining our business activities and efforts on projects related to our core competencies.

“This will drive operational efficiency, enabling us to improve our cost structure and enhance profitability. We will continue to adopt effective capital management discipline in managing our cashflows,” Mohd Azhar said.