The net income was achieved on the back of a RM1.44 billion revenue.
In a statement issued today, DNeX said its technology business was the biggest contributor, coming in with RM857.7 million or 60% of total revenue. The technology business is underpinned by its investment in SilTerra Malaysia Sdn Bhd.
This was followed by the energy business, through an investment in Ping Petroleum Ltd, which contributed RM379.6 million (26%) in revenue. The remaining RM199.9 million, or 14% of total revenue, came through its investment in its IT businesses.
DNeX said its net cashflow from operating activities amounted to RM643.8 million.
At the group level, DNeX said its balance sheet remains strong, with total cash of RM1.02 billion, while total loans and borrowings stood at RM319.3 million as at June 30.
There is no year-on-year comparative figures due to the change in the financial year-end from Dec 31 to June 30.
For the fourth quarter ended June 30 (Q4 2022), DNeX recorded PAT of RM263 million on revenue of RM430.3 million, mainly supported by robust contribution from the technology and energy segments.
On a quarter-on-quarter basis, the group’s Q4 PAT jumped 238% to RM263 million from RM77.8 million reported in the third quarter ended March 31 (Q3), while revenue increased by 12% to RM430.3 million from RM382.6 million recorded in the same period previously.
Group managing director Syed Zainal Abidin Tahir attributed the improvement in performance to higher production output, as well as better quality control and manufacturing efficiency.
He said DNeX’s plans to jointly build a new 12-inch wafer fabrication plant in Malaysia with Hon Hai Precision Industry Co Ltd is in progress, with discussions still going on with the relevant stakeholders as well as the Malaysian government.
For the energy segment, he expects Brent crude oil prices to remain “elevated” on the back of a tight supply outlook due to the EU ban on Russian oil exports.
Zainal Abidin said the Malaysian economy has been growing at an accelerated pace on the back of stronger domestic demand, normalising economic activities and reopening of international borders, and this augured well for DNeX.
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