Latest news with #DNeX
The Sun
3 days ago
- 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
3 days ago
- 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.
The Star
3 days ago
- Business
- The Star
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.
Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
DNeX unit bags RM104m MoF contract for iGFMAS system support
DAGANG NeXchange Bhd (DNeX) said that its subsidiary, Innovation Associates Consulting Sdn Bhd (IAC), has secured a RM103.76 million contract from the Ministry of Finance (MoF) to provide maintenance and application support services for the iGFMAS system. In a filing with Bursa Malaysia, DNeX said IAC accepted the letter of acceptance on June 18, 2025. The contract spans a five-year period from the same date. The iGFMAS system, short for Integrated Government Financial and Management Accounting System, is a core platform used for federal government financial operations. DNeX said the project is expected to contribute positively to the group's earnings and net assets per share from the financial year ending Dec 31, 2025, onwards. The group also noted that none of its directors, major shareholders, or persons connected to them have any interest in the project. — TMR
Time of India
03-06-2025
- Business
- Time of India
Tata Electronics eyes Malaysia foray via chip fab acquisition
Tata Electronics is in talks with several global semiconductor companies including X-Fab , DNeX and Globetronics to acquire a fabrication or outsourced semiconductor assembly and test (OSAT) plant in Malaysia, according to people in the know. The move is aimed at bolstering the Tata Group company's knowledge and talent base before entering the semiconductor assembly and packaging business in India. KC Ang, who was appointed president and head of Tata Semiconductor Manufacturing in April this year, is driving these acquisition efforts, the people said. 'Globetronics and DNeX's SilTerra facility are among the front runners to be acquired by Tata Electronics,' said one of the people. Tata Electronics is investing more than Rs 91,000 crore to set up a semiconductor fab unit at Dholera, Gujarat, and Rs 27,000 crore in an OSAT facility at Assam's Morigaon. "Running a fab is not going to be simple and Tata Electronics is aware of that," a second person said. "These potential acquisitions are being explored in Malaysia because it is one of the most economical options and talks have been going on with different players since April this year,' this person said. 'For the Tatas, it represents an opportunity to get the knowhow on how to run a fab or advanced packaging facility while also providing a training ground for Indian talent to learn how to run these high-tech facilities." Queries sent to Tata Electronics, X-Fab, DNeX and Globetronics remained unanswered as of press time Monday. Semicon hub Malaysia's expertise in assembly, testing, marking and packaging (ATMP) along with its mature ecosystem, abundant skilled workforce, robust supply chain and government support make it a preferred destination, according to analysts. "If Tata were to have a partnership or presence in Malaysia, it would enable Tata to develop expertise in ATMP, and it would complement the wafer fabrication and OSAT (operations) in India," Counterpoint Research senior analyst Parv Sharma said. 'It would also de-risk Tata from current semiconductor tariffs and provide a risk-free supply chain to serve a wider customer base globally," he added. Also, the Malaysian government's National Semiconductor Strategy, announced in May 2024, offers a significant incentive structure to attract investments. Indian companies are aiming to acquire manufacturing grade technology (MGT) from Malaysia for OSAT projects in particular, as it is the longstanding hub for both legacy and advanced packaging. "MGT can only come from an established player in the semiconductor industry who has IP defensibility for its technology and has the legal rights to license it to India," consultancy firm Fab Economics' CEO Danish Faruqui said. Malaysia holds 13% of the global market for chip packaging, assembly and testing services, as per a February 18 report by the Malaysian Investment Development Authority. Ripe for acquisition Typically, semiconductor businesses that are financially stressed and are looking to get a boost by licensing technology and/or expanding packaging capacity with new partners, are the most preferred targets by Indian players. "Globetronics, an OSAT player from Penang, Malaysia, has suffered multiple financial blows as recently as in 2024,' said Faruqui. Key public and private stakeholders had rolled back their positions in the company, necessitating boardroom changes and strategies for new partnerships and revenue streams, he added. As per Fab Economics, DNeX's SilTerra facility in Kulim is also being deemed a 'lucrative target' for Indian players for low-cost, high-fidelity technology licensing on the fabrication side. SilTerra is a semiconductor wafer foundry offering fabrication and design support services for integrated chips in various technologies. DNeX acquired a 60% stake in SilTerra in 2021 while the remaining 40% was acquired by Beijing-based Integrated Circuit Advanced Manufacturing and High-End Equipment Equity Investment Fund Centre (CGP Fund), which is a Chinese investment fund focused on the semiconductor industry. The total acquisition cost was 273 million Malaysian ringgit (about $64 million now). X-Fab is a German specialty foundry group that has six wafer fabs located in Malaysia, Germany, France and the US. Located in Kuching, the capital city of Sarawak, the X-Fab facility in Malaysia manufactures wafers on modular CMOS technologies in geometries ranging from 350 nm to 180 nm. CMOS (Complementary Metal-Oxide-Semiconductor) is a type of technology used in computer processors, memory chips, and other electronic components.
