DNeX posts RM293.56m net profit

by NUR HANANI AZMAN / pic by MUHD AMIN NAHARUL

DAGANG NeXchange Bhd’s (DNeX) net profit for the first quarter ended Sept 30, 2021(1Q22) stood at RM293.56 million and RM270.87 million of revenue.

In a filing with Bursa Malaysia today, DNeX said there were no comparative figures for the first quarter due to a change in its financial year-end to June 30 from Dec 31.

The group said its revenue increased by RM224.97 million in current quarter compared to the immediate preceding quarter ended June 30, 2021 due to the consolidation of Ping Petroleum Limited (Ping) and SilTerra Malaysia Sdn Bhd (SilTerra), which contributed RM67.27 million (24%) and RM148.77 million (54%), respectively.

On its prospects, DNeX said it is optimistic that SilTerra will continue to benefit from the increase in global demand for semiconductor chips due to the rising adoption of technologies in Industry 4.0, artificial intelligence, and the Internet of Things.

“Injection of new funds for capital expenditure and the recent process improvements at SilTerra’s manufacturing plant have led to an increase in production capacity and higher operating efficiency, resulting in better cycle time, tool uptime gain, and scrap reduction.

“To strengthen SilTerra’s business sustainability, the group is optimising capacity mix by streamlining and focusing on strategic customers,” it added.