Latest news with #FaizalShamAbuMansor
New Straits Times
30-06-2025
- Business
- New Straits Times
DNeX, PowerChina unit to explore, develop key RE ventures in Malaysia
KUALA LUMPUR: Dagang NeXchange Bhd has partnered with Sinohydro Corporation (M) Sdn Bhd to explore and develop key initiatives across Malaysia's growing renewable energy (RE) sector. Sinohydro Malaysia serves as Power Construction Corporation of China Ltd's (PowerChina) subsidiary in Malaysia, actively undertaking major construction and engineering projects across the country since 1998. The partnership reflects both sides' commitment to innovation, supporting Malaysia's clean energy transition, economic growth and local upskilling through technology transfer and global best practices. It outlines several key areas of cooperation designed to support the government's vision of accelerating Malaysia's clean energy agenda in line with the National Energy Transition Roadmap. This includes RE project development, technology transfer and best practices, sustainable rare earth exploration, innovation and enhancement, as well as local talent development. DNeX group chief executiv officer Faizal Sham Abu Mansor said the collaboration will not only unlock new RE potential across the nation but also enable us to embrace advanced technologies like small modular reactor (SMR). "This opportunity will greatly complement our on-going sustainability plans in the wnergy sector as we intend to move our oil and gas portfolio closer to bridge fuel like natural gas in lieu of oil and in our IT sector which is focusing more and more on provision of sovereign cloud and artificial intelligence (AI) services. "This requires large amount of energy, and partnering with Sinohydro enables us to moonshot ourselves in the field of SMR and ensure our products and service offerings are not only reliable but a carbon-free power source," he added. Faizal said Sinohydro's joint commitment to clean rare earth extraction aligns perfectly with our vision for responsible resource management and industrial growth. "We are particularly excited about the prospect of developing local expertise and creating high-value jobs in these critical sectors. "As we accelerate our shift towards a greener future, this partnership represents a milestone in our renewable energy transition and expansion from our traditional oil and gas business reinforcing our dedication to environmental stewardship," he said. Sinohydro has been involved in major power projects in Malaysia, including the 2,400 megawatt (MW) Bakun hydroelectric plant, the largest in Malaysia and Southeast Asia. Other key projects include the Connaught Bridge and Tanjung Kidurong power plants, Hulu Terengganu and Murum hydro plants, the LSS3 Coara Marang solar project and Telekosang small hydro plants. It is currently building the Baleh hydroelectric project and the Miri combined cycle gas turbine plant.
The Sun
30-06-2025
- Business
- The Sun
DNeX, PowerChina's subsidiary inked landmark agreement to advance renewable energy in Malaysia
CYBERJAYA: Dagang NeXchange Bhd (DNeX) has signed a memorandum of understanding (MoU) with Sinohydro Corporation (M) Sdn Bhd (SCSB) to explore and develop key initiatives across Malaysia's growing renewable energy sector. SCSB is a wholly owned subsidiary of China-based Sinohydro Corporation Ltd, which is a wholly owned subsidiary of Power Construction Corporation of China Ltd (PowerChina), a major Chinese state-owned company. This strategic partnership underscores both parties' commitment to driving innovation, fostering technological advancement, and contributing to Malaysia's clean energy transition and economic growth, while upskilling local Malaysians through the transfer of technologies and best global practices. DNeX group CEO Faizal Sham Abu Mansor said this partnership marks a pivotal moment for the company's journey towards a sustainable future. 'Our collaboration with SCSB will not only unlock new renewable energy potential across the nation but also enable us to embrace advanced technologies like small modular reactor (SMR). 'This opportunity will greatly complement our ongoing sustainability plans in the Energy sector as we intend to move our oil and gas portfolio closer to bridge fuel like natural gas instead of oil, and in our IT sector, which is focusing more on the provision of sovereign cloud and AI services. 'This requires a large amount of energy, and partnering with SCSB enables us to moonshot ourselves in the field of SMR and ensure our products and service offerings are not only reliable but also a carbon-free power source. 'Furthermore, our joint commitment to clean rare earth extraction aligns perfectly with our vision for responsible resource management and industrial growth. 'We are particularly excited about the prospect of developing local expertise and creating high-value jobs in these critical sectors,' he said in a statement. SCSB serves as a wholly-owned subsidiary of PowerChina in Malaysia, actively undertaking major construction and engineering projects across the country since 1998. Among its notable projects, SCSB participated in the construction of the Bakun Hydroelectric Plant (HEP) in Sarawak, with an installed capacity of 2,400 MW, which is the largest hydroelectric power station in Malaysia and Southeast Asia. SCSB also participated in the construction of several major power plants in Malaysia, including Connaught Bridge Power Station, Tanjung Kidurong Combined Cycle Gas Turbine Power Plant, Hulu Terengganu Hydroelectric Project, Murum Hydroelectric Plant, Large Scale Solar 3 (LSS3) Coara Marang Solar Power Project and Telekosang Small Hydro Power Plants. SCSB is currently carrying out the construction of the Baleh Hydroelectric Project, the largest ongoing hydroelectric power plant project in Malaysia, as well as the Miri Combined Cycle Gas Turbine Power Plant in Miri, Sarawak. The MoU outlines several key areas of cooperation designed to support the government's vision of accelerating Malaysia's clean energy agenda in line with the National Energy Transition Roadmap. The collaboration focuses on jointly identifying and developing renewable energy projects across Malaysia, including solar, geothermal, hydroelectric, and other clean energy technologies. By combining their unique strengths, both companies aim to harness Malaysia's natural resources for sustainable power generation. Additionally, the partnership seeks to transfer advanced technologies and best practices in fields such as solar, geothermal, hydropower, and SMR systems, accelerating the country's adoption of cutting-edge clean energy solutions. The agreement also includes initiatives for sustainable rare earth exploration, targeting responsible mining to secure materials vital for renewable energy production. Both parties are committed to innovation and the development of local talent, supporting Malaysia's net-zero emissions target by 2050 and ensuring a skilled workforce for the renewable energy and rare earth industries. This approach positions Malaysia to capitalise on global energy transition opportunities while prioritising environmental responsibility. 'As we accelerate our shift towards a greener future, this partnership represents a milestone in our renewable energy transition and expansion from our traditional oil and gas business, reinforcing our dedication to environmental stewardship,' Faizal added.
The Sun
26-06-2025
- Business
- The Sun
DNeX reinforces strategic direction for growth and technology leadership
Faizal said DNeX is aggressively pursuing new opportunities to expand global footprint while strengthening domestic market presence. CYBERJAYA: Dagang NeXchange Bhd (DNeX) remains committed to driving long-term value creation for shareholders while advancing Malaysia's digital transformation agenda. This commitment is reinforced through ongoing efforts to position DNeX as a prominent player in the semiconductor, energy, and IT segments. Speaking at its 54th annual general meeting, DNeX's group CEO Faizal Sham Abu Mansor shared his insights into the group's expansion efforts and its vision for future growth. 'As we strengthen our position as one of the key players in all the segments we are in, we are focused on enhancing operational efficiency and refining capital management strategies across all our business segments to ensure sustainable growth and long-term resilience. 'By building on this foundation, we remain dedicated to creating lasting value for our shareholders, while contributing to the broader economic development of Malaysia,' he said. The semiconductor segment, spearheaded by SilTerra Malaysia Sdn Bhd, is at the forefront of DNeX's growth strategy. DNeX is capitalising on the strong market demand for advanced technologies, including silicon photonics, microelectromechanical systems (Mems) on complementary metal oxide semiconductor (Cmos), life sciences, and smart power. These areas are critical for the future development of artificial intelligence (AI) infrastructure, cloud computing, biomedical applications, and electric vehicles. DNeX is strategically enhancing its focus on emerging technologies and high-value products to improve profit margins, backed by research and development (R&D) and strengthened client support, while expanding production and partnering for accelerated innovation and market access. These initiatives aim to fast-track innovation and secure the group's leadership in meeting emerging global demand. The group's exposure in the semiconductor sector will be further enhanced through DNeX Innovation Fund, a new technology-focused fund intended to make private equity investments in the electrical and electronic (E&E) supply chain, in line with the government's National Semiconductor Strategy, which was launched in 2024. In the energy segment, DNeX is strategically rebalancing its portfolio to prioritise the development of high-potential assets within Malaysia. Key focus areas include the Meranti Cluster, A Cluster, Beta Cluster, and the upcoming reactivation of the Abu Cluster, with first oil production expected in 2026. DNeX is also actively exploring opportunities to acquire additional producing assets in Malaysia, further enhancing its production capabilities and creating synergistic value across its energy portfolio. The group will continue to optimise production from the Anasuria Cluster assets in the UK North Sea, focusing on maximising efficiency and extending the life of these valuable fields. Through the DNeX IT business segment, comprising Dagang Net Technologies Sdn Bhd (Dagang Net), Innovation Associates Consulting Sdn Bhd (IAC), DNeX Solutions Sdn Bhd and the joint venture unit Gamuda DNeX Cloud Sdn Bhd, DNeX Group offers an integrated suite of industry-leading solutions supporting digitalisation across the public and private sectors. The group, through its joint venture Gamuda DNeX Cloud, is expanding the rollout of Google Distributed Cloud Services for secure, compliant solutions for government and regulated sectors, while also developing AI-enabled applications for key industries, strengthening its position in digital trade and customs modernisation, accelerating Asean expansion with proven digital infrastructure, and enhancing its expertise in enterprise systems like SAP S/4HANA, cybersecurity and mobile applications suites for large-scale digital transformation. 'We are aggressively pursuing new opportunities to expand our global footprint while strengthening our domestic market presence. 'This includes forging strategic partnerships that will enable us to tap into new markets and enhance our technological capabilities,' he said. 'Our goal is to diversify our revenue streams and solidify DNeX's position as a leader in the technology, energy, and IT sectors, both in Malaysia and internationally.' The group also presents its five-year strategy where it intends to strengthen its core business, whilst working to enhance the future prospect of all its business pillars. Looking ahead, DNeX is committed to its strategy of diversification, innovation, and the pursuit of strategic partnerships to drive long-term value. The group is focused on continuing to build its technology and energy portfolios while exploring new opportunities that align with its goals for sustainable growth. By expanding its global reach and leveraging partnerships, DNeX is well-positioned to unlock new growth prospects and strengthen its leadership in key sectors. At the AGM, DNeX reaffirmed its commitment to upholding the highest standards of corporate governance and transparency in its operations. The group continues to prioritise open communications with shareholders, ensuring they are well-informed and engaged in the company's ongoing efforts to enhance shareholders value.
The Sun
19-06-2025
- Business
- The Sun
DNeX secures RM103.76m contract for Malaysia's financial backbone, iGFMAS
CYBERJAYA: Dagang NeXchange Bhd (DNeX), through subsidiary Innovation Associates Consulting Sdn Bhd, has secured a contract from the Ministry of Finance (MoF) to continue providing support for the Integrated Government Financial and Management System (iGFMAS), a key digital backbone of the country's public finance operations. Valued at RM103.76 million and 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. 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 Financial Statements based on modified cash and accrual accounting. According to DNeX's group CEO Faizal Sham Abu Mansor, the new contract underscores the group's full commitment to the government and the MoF'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. 'We are deeply honoured to continue our work on the iGFMAS, a system of national importance. This contract allows us to build on our existing foundation and further enhance the platform to meet the evolving financial governance needs of Malaysia. 'We are in complete alignment with the government's aspiration of having government services be agile in adapting to technology and digital means as a way to better serve the Malaysian public. 'This continued trust placed in us by the Ministry of Finance is a strong testament to our Group's commitment and capability,' he said in a statement. The latest award reinforces DNeX Group and DNeX IT's position as a trusted technology partner to the Malaysian government, with a track record of delivering mission-critical IT infrastructure and platforms. With a robust technical workforce of 400 professionals supported by 16 experts in emerging technologies focusing on Big Data Analytics and artificial intelligence (AI), DNeX IT is strategically positioned to leverage this momentum for global expansion. The group plans to expand its international footprint and venture into emerging technology spaces, including SAP S/4HANA, AI, Cybersecurity, and Mobile Application suites. Through the DNeX IT business segment, comprising Dagang Net Technologies Sdn Bhd, IAC, DNeX Solutions Sdn Bhd, and the joint venture unit Gamuda DNeX Cloud Sdn Bhd, DNeX Group offers an integrated suite of industry-leading solutions that support digitalisation across the public and private sectors. 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.
New Straits Times
18-06-2025
- Business
- New Straits Times
DNeX wins RM103.76mil job to support government's management system
KUALA LUMPUR: Dagang NeXchange Bhd's (DNeX) subsidiary Innovation Associates Consulting Sdn Bhd (IAC) has secured a contract from the Finance Ministry to continue supporting the integrated government financial and management system (iGFMAS) system. The contract, valued at RM103.76 million and spans over 60 months, covers the maintenance, support services and application enhancement of iGFMAS. 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 financial statements based on modified cash and accrual accounting. DNeX group chief executive officer Faizal Sham Abu Mansor said the contract underscores its 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. This will allow DNeX to build on its strong foundation and deepen its involvement in supporting the digital transformation of Malaysia's public sector. "This contract allows us to build on our existing foundation and further enhance the platform to meet the evolving financial governance needs of Malaysia. "We are in full alignment with the government's aspiration of having government services to be agile in adapting to technology and digital means as a way to better serve the Malaysian public," he said in a statement. DNeX, through its IT segment, continues to support the Malaysian government with key digital infrastructure, backed by a team of 400 technical staff and 16 specialists in big data and artificial intelligence (AI). The group plans to expand globally and explore emerging technologies such as SAP S/4HANA, AI, cybersecurity and mobile apps. Its IT arm includes Dagang Net, IAC, DNeX Solutions and the joint venture Gamuda DNeX Cloud, providing integrated digital solutions for both public and private sectors. DNeX said the new contract enhances income visibility while strengthening its position as a trusted provider of end-to-end digital solutions in support of Malaysia's long-term public sector digital transformation agenda.
