“DNeX TOOK DELIVERY OF THE SEVAN HUMMINGBIRD FLOATING PRODUCTION STORAGE AND OFFLOADING (“FPSO”) VESSEL ON 1 JULY 2022, WHICHWE HAVE RENAMED TO EXCALIBUR. THE ACQUISITION OF THE 60 METRE-DIAMETER EXCALIBURWILL PLAY A CRUCIAL ROLE IN OUR EXPANSION ACTIVITIES FOR PING, AS IT FEATURES A STORAGE CAPACITY OF 270,000 BARRELS OF OIL AND IS CAPABLE OF PRODUCING UP TO 30,000 BARRELS OF OIL PER DAY AND SUPPORTING UP TO 47 OFFSHORE PERSONNEL. HIGHLIGHTS OF OUR PERFORMANCE IN FY2022 Our acquisition of global semiconductor manufacturer SilTerra in July 2021 was complemented by the formation of a SilTerra transformation management team and deployment of capi tal expenditure to undertake an intensive transformation plan as well as improve operations, capture new business and optimise manufacturing capacity. This has resulted in our newly minted Technology Division catapulting into the biggest revenue earner of the Group, contributing RM857.67 million or 59% of our total revenue in FY2022. A key operational triumph during the year was our success in unlocking economies of scale by focusing our manufacturing on a smaller variety of products at higher volumes. This significantly lowered our manufacturing costs, ramped up profit margins and enabled Si lTer ra to sel f-fund i ts subsequent expansion plans. Our record-breaking revenue and profits were aided by our securing of several new long-term agreements (“LTAs”), including with ChipOne Technology (Beijing) Co. Ltd and ILI Technology Corp, that combined to contribute towards approximately 70 per cent of SilTerra’s capacity, while other global clients chipped in to facilitate our achievement of 100 per cent capacity utilisation as at September 2022. With further capacity expansion of 10 per cent underway and expected to be completed in early 2023, along with significant progress being made in the development and test ing of new emerging technology products such as Mi cro-e l ect romechan i ca l Sys tem (“MEMS”) technologies and Si l icon Photonics (“SiPh”), we are on track to begin utilising the impending capacity to manufacture these new high margin products that offer a wide range of applications in emergent markets. DAGANG NeXCHANGE BERHAD 30 GROUP MANAGING DIRECTOR’S STATEMENT
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