DNeX wins RM104mil contract from MoF
In a filing with Bursa Malaysia, the technology company said the iGFMAS is a key digital backbone of the country's public finance operations.
'Spanning across 60 months, the contract covers the maintenance, support services, and application enhancement of iGFMAS, reaffirming DNeX's pivotal role in managing one of the country's most critical government financial systems.'
DNeX said the iGFMAS plays a central role in ensuring the efficient, secure, and transparent management of federal government finances.
'The system enables the preparation of the Federal Government's financial statements based on modified cash and accrual accounting.
'This new contract enhances income visibility while strengthening DNeX's position as a trusted provider of end-to-end digital solutions in support of Malaysia's long-term public sector digital transformation agenda,' the company said.
DNeX group chief executive officer Faizal Sham Abu Mansor said the new contract underscores the group's full commitment to the government and the ministry's continued confidence in the group's technical expertise, proven delivery track record, and strategic role in national digital transformation.
He said this will allow DNeX to build on its strong foundation and deepen its involvement in supporting the digital transformation of Malaysia's public sector.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
24-07-2025
- New Straits Times
Tech counters dominate Bursa Malaysia as sector leads market gains
KUALA LUMPUR: Tech stocks dominated Bursa Malaysia's most active list in morning trade, lifting the Technology Index to outperform other sectoral indices. At 9.45am, seven of the 10 most actively traded counters were technology-related, including Dagang NeXchange Bhd (DNex), SFP Tech Holdings Bhd, TT Vision Holdings Bhd and Oppstar Bhd. DNex led the gainers, rising 7.02 per cent or two sen to 30.5 sen, with 13.4 million shares traded. SFP Tech added 5.13 per cent or one sen to 20.5 sen, while TT Vision advanced 7.08 per cent or four sen to 60.5 sen. Oppstar climbed 7.22 per cent or 3.5 sen to 52 sen, up from 48.5 sen previously. Other notable gainers included Notion Vtec Bhd, up 1.68 per cent or one sen to 60.5 sen, Greatech Technology Bhd, which gained 3.25 per cent or 2.5 sen to 79.5 sen and Inari Amertron Bhd, up 1.48 per cent or three sen to RM2.06. The Bursa Malaysia Technology Index rose 0.99 per cent or 0.52 points to 52.86, outperforming other sectors including transportation and logistics, plantations, consumer products and services, financial services, and telecommunications and media. On the broader market, the FTSE Bursa Malaysia KLCI edged up 0.11 per cent or 1.62 points to 1,531.41. At the time of writing, four sectoral indices were in negative territory, namely energy, construction, utilities, healthcare, and industrial products and services. In a research note, RHB Investment Bank Bhd said the technology sector may be poised for a re-rating, supported by improving earnings momentum and easing global uncertainties. Citing recent site visits, it said the earnings recovery is underpinned by higher revenue and encouraging guidance from key players across the supply chain, indicating that the sector's recovery remains on track. It noted that valuations remain attractive, with the sector trading at below 20 times forward price-to-earnings, under its five-year historical average and about one standard deviation below the mean. "The Bursa Malaysia Technology Index remains negative, weighed by softer-than-expected results, US tariff and sanction concerns, and risk-off market sentiment. "However, current valuations are compelling, and improved guidance across the sector suggests investors should position for the recovery, despite all external noise," RHB said. The research house also highlighted that revenue trends have strengthened since end-2024, although near-term earnings may be affected by unrealised foreign exchange losses. RHB Investment forecasts six per cent earnings growth for the technology sector in financial year 2025 and a stronger 39 per cent growth in 2026. It added that Malaysia stands to benefit from both near-term order shifts and longer-term manufacturing relocation, thanks to its well-established ecosystem, skilled labour force, and robust infrastructure. "While tariffs could induce demand volatility, the sector remains in an upcycle with no major disruptions anticipated. "Notably, most semiconductor supply chains are exempted and Malaysia's parts and components suppliers have minimal direct exports to the US, estimated at below 15 per cent for most," it said.
New Straits Times
04-07-2025
- New Straits Times
Bursa's technology index driven by renewed buying interest
KUALA LUMPUR: Bursa Malaysia Technology Index outshines its peers on Thursday, with four component stocks ranking among the most active on the exchange. Driven by renewed buying interest following the United States-Vietnam trade agreement, the index rose 2.1 points or 4.04 per cent to close at 54.13 from Wednesday's close of 52.03. Trading volume soared over 333 million units, reaching its highest level in seven weeks. The index, comprising 49 component stocks, has climbed 11 per cent since June 23, although it remains down 16.9 per cent year-to-date. Zetrix AI Bhd, formerly known as MyEG Services Bhd, led the most active board with more than 68 million shares traded. The stock gained one sen or one per cent to 97.5 sen from the previous close of 96.5 sen, lifting its market capitalisation to RM7.43 billion. The other three high-volume tech stocks were NexG Bhd, Dagang Nexchange Bhd (DNeX) and Inari Amertron Bhd, which saw trading volumes ranging from 28.5 million to 56 million units. NexG rose one sen or 2.6 per cent to 39 sen, DNeX climbed one sen or 3.4 per cent to 30 sen and Inari edged up 15 sen or 7.5 per cent to RM2.15. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the index was driven by robust buying interest in semiconductor and electronics-related counters, in line with the tech-led gains on Wall Street. "While the deal spares Vietnam from the most severe trade penalties, it reflects a more fragmented and protectionist global trade landscape. "While domestic market breadth remains constructive and foreign participation encouraging, the external environment continues to evolve. "Investors are advised to remain vigilant as global trade dynamics, monetary policy signals and geopolitical tensions continue to shape the near-term outlook," he added. According to Reuters, US President Donald Trump announced that Washington would impose a lower-than-expected 20 per cent tariff on a range of Vietnamese exports. He also revealed that trans-shipments from third countries routed through Vietnam would be subject to a higher 40 per cent tariff, while Vietnamese imports of US goods would enjoy a zero per cent tariff. The announcement lifted sentiment across regional markets. Vietnam's benchmark index climbed 0.6 per cent to its highest level since April 2022, while Singapore's market edged up 0.2 per cent and Thailand's stocks gained 0.9 per cent.
New Straits Times
03-07-2025
- New Straits Times
Malaysia's tech index outpaces peers after US-Vietnam trade deal
KUALA LUMPUR: Bursa Malaysia Technology Index outshines its peers on Thursday, with four component stocks ranking among the most active on the exchange. Driven by renewed buying interest following the United States-Vietnam trade agreement, the index rose 0.78 of-a-point or 1.5 per cent to 52.81 at midday from Wednesday's close of 52.03. Trading volume soared to 21.7 million units, reaching its highest level in nearly four weeks. The index, comprising 49 component stocks, has climbed 8.6 per cent since June 23, although it remains down 18.9 per cent year-to-date. Zetrix AI Bhd, formerly known as MyEG Services Bhd, led the most active board with over 50 million shares traded in the morning session. The stock gained one sen or one per cent to 97.5 sen from the previous close of 96.5 sen, lifting its market capitalisation to RM7.5 billion. The other three high-volume tech stocks were NexG Bhd, Dagang Nexchange Bhd (DNeX) and Inari Amertron Bhd, which saw trading volumes ranging from 20.7 million to 40.4 million units. NexG rose half a sen or 1.32 per cent to 38.5 sen, DNeX climbed half a sen or 1.71 per cent to 29.5 sen and Inari edged up four sen or two per cent to RM2.04. Malacca Securities Sdn Bhd said Wall Street's sentiment improved after the US-Vietnam trade agreement, which imposes a 20 per cent tariff on Vietnamese goods while allowing US products to be sold in Vietnam without duties. "With a positive lead from Wall Street, especially the buying interest in tech stocks following the trade deal, we expect the buying interest to spillover to the local exchange. "With the resumption of optimism surrounding the data centre developments, traders may want to monitor technology and telecommunication stocks like EG Industries Bhd, Mi Technovation Bhd and Telekom Malaysia Bhd," the firm said.
