DNeX wins RM104mil contract from MoF

PETALING JAYA: Dagang Nexchange Bhd (DNeX) has secured a contract from the Ministry of Finance Malaysia to continue providing support for the Integrated Government Financial and Management System (iGFMAS), worth RM103.76mil.
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.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The Sun

3 days ago

• 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.

The Star

3 days ago

• The Star

Trading ideas: Public Bank, DNeX, Food Life, Master TEC, MN, Guocoland, Capital A, Kobay, LGMS, Pharmaniaga, Scientex

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Public Bank ordered to pay RM90mn in damages to the National Feedlot Corporation for confidentiality breach. Dagang Nexchange Bhd has secured a RM103.8mn contract from the government to continue providing support for the Integrated Government Financial and Management Systems over a period of 60 months. Food Life Sdn Bhd a wholly-owned subsidiary of Farm Price Holdings Berhad, has entered into agreements to acquire assets and a business from Hong Yun Vegetables and Fruits Sdn Bhd, as well as assets from D & D Sinma 8888 Univeg Trading for a total of RM4.5mn in cash. Master TEC Group Bhd has entered into a MoU with Yangtze (Jiangsu) Marine Technology Company Limited to explore collaboration on high-specification and next-generation cable solutions for Malaysia's growing power infrastructure market. MN Holdings Bhd has secured a RM39.6mn contract for the expansion of the electrical supply system for a cable landing station located at a data centre in southern Peninsular Malaysia. Guocoland (Malaysia) Bhd said the group faces a net financial impact of RM5.5mn following an arbitration ruling against its wholly owned subsidiary over a disputed project termination. The CEO of Capital A Group, Tan Sri Tony Fernandes, said on Wednesday the owner of AirAsia is in talks to buy 50 to 70 Airbus A321XLR jets in coming months, but that the first priority is to complete the group's restructuring. Kobay Technology Bhd plans to reallocate RM20.7mn — part of the funds originally set aside for its aluminium business expansion — to develop manufacturing services for the electronic and electrical sector. LGMS Bhd is seeking a transfer of its shares to the Main Market of Bursa Malaysia from the ACE Market. Pharmaniaga Bhd said it will continue to stay in the black for the FY2025 after making a turnaround last year, according to its managing director Zulkifli Jafar. The group is targeting to deliver FY2025 revenue of RM4bn a profit after tax of RM60mn. Scientex Bhd saw its net profit slip over 5% to RM123.9mn in 3QFY25 as the improved operating profit at its property segment was more than offset by a weaker packaging division.

New Straits Times

4 days ago

• 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.