KUALA LUMPUR: Dagang NeXchange Bhd (DNeX) posted RM45.1 million in revenue and RM2.2 million in net for the fifth quarter (Q5) ended March 31, 2021 (FY20).
The company is reporting its Q5 and cumulative 15-month results in line with the change in the financial year end from December 31 to June 30 which was announced on 15 February 2021.
DNeX's information technology (IT) and e-services operations remained its main revenue generator, contributing RM32.1 million or 71.2 per cent of total revenue in Q5 FY20.
The remaining revenue was contributed from the energy segment, accounting for 28.8 per cent or RM13.0 million in Q5 FY20.
For the cumulative 15 months period ended 31 March 2021, DNeX registered a revenue of RM284.6 million and net profit of RM3.3 million respectively.
During the period, the company's revenue was mainly derived from the IT and e-services businesses, 69.5 per cent of the total or RM197.8 million, while the energy segment contributed RM86.8 million or 30.5 per cent of the company's revenue.
Share of results of associates stood at RM10.8 million.
Group managing director Datuk Sri Syed Zainal Abidin Syed Mohamed Tahir said the company's next focus will be to drive synergies and integration between the new business additions and existing operations.
"There are pockets of opportunities to be unlocked such as cross selling of products and transfer of knowledge to boost business efficiencies within the company," he said in a statement today.
He added that DNeX is upbeat on the outlook ahead underpinned by the rising adoption of digitalisation as well as improving oil prices while the shortage of chips globally is favourable to the company's entrance into the semiconductor sector via its proposed acquisition of SilTerra Malaysia Sdn Bhd.
In addition, he said Brent crude oil prices which have been on a steady rise and are currently trading at levels above US$60 per barrel augur well for DNeX's increase of its stake in Ping Petroleum Ltd (PPL) to 90 per cent from 30 per cent currently.
On the back of the positive development, PPL is also exploring opportunities to unlock its untapped potential and maximise economic value from its asset portfolio, he said, adding that overall, the operating landscape in the new fiscal year is expected to improve supported by market optimism arising from the roll out of Covid-19 vaccines programmes globally.
The next audited financial statements will be for a period of 18 months from January 1, 2020 to June 30, 2021.
Due to the change, there are no comparative figures disclosed for the preceding year corresponding period.