REDEFINING THE FUTURE OF DNeX As alluded to above, I am thrilled to report that all of our business units, along with their respective leaders and department heads, have placed their best foot forward during FY2022 and worked collectively to assist the Group in making significant progress within the five key transformational pillars that we outlined in last year’s report. In our proactive pursuit of portfolio diversification opportunities, our investment in SilTerra, as well as the expansion of our ownership in Ping and working interest in the Avalon oilfield, have placed us on track to capitalise on valuable growth prospects within the global semiconductor and oil & gas (“O&G”) industries. At the same time, we have continued to expand our Trade Facilitation offerings and carved inroads into emerging IT sectors such as digital transformation services, which we believe will play a fundamental role in future-proofing our IT Division and allow us to make the most of several newly formed partnerships with leading global players. Our emphasis on financial prudence has been a key factor in helping us rapidly achieve steady and dependable quarter-on-quarter cash profits for almost all of our business entities by end of FY2022, and has placed us in a highly favourable net cash position to fund the subsequent growth phases for each of our business divisions. We have also rolled our new the DNeX Group Investment Framework and Policy, which sets out the principles and rules to govern the Group in initiating, assessing, deciding, conducting and monitoring its investment processes and standardise the whole investment process for the Group, from start to finish, including post investment integration and monitoring. As we sought to enhance human capital development across the Group, our efforts were bolstered by the undertaking of a retention plan that featured the rolling out of a revised Employee Share Option Scheme (“ESOS”). In addition, we have also enhanced our salary structure and benefits to align more competitively to the market, and re-structured our Performance Management System (“PMS”) that better differentiates the reward for our employees based on performance. Our mission to develop a more robust and customer-centric engagement strategy was supported by a substantial increase in external communications and visibility as well as establishment of digital marketing to enable us increase online inquiries, gain better customer insights, launch more effective campaigns, drive greater engagement and achieve a wider online reach from FY2023 onwards. Finally, our commitment to empowering our governance and excellence was reinforced through the establishment of the Risk, Governance & Sustainability Committee (“RGSC”) along with the Directors’ Remuneration Policy, the Directors’ Code of Ethics and Conduct and the Directors’ Fit and Proper Policy throughout the last 12 months. We have also attained an important milestone in our bid to fulfil our Environmental, Social and Governance (“ESG”) commitments as a Group, with the launch of our Sustainability Framework that outlines our ambitions and objectives within four thoughtfully identified themes of ‘Stewarding a Sustainable Environment’, ‘Empowering our People’, ‘Creating Value for Our Customers and Community’, and ‘Embracing Good Governance for Business Resilience’. These are but some of the results of our resolute efforts in FY2022, which have combined to imbue the Group with a renewed sense of purpose in looking towards the future, whereby we are now better equipped with the agility, capabilities and financial resilience to overcome any challenges we encounter. The upcoming financial year will see us inculcate the operationally transformative and resilient culture that we have established in our top performing business units within all entities under the Group, as we seek to further consolidate our position and scale up financially in order to seize new opportunities for expansion and growth. DAGANG NeXCHANGE BERHAD 32 GROUP MANAGING DIRECTOR’S STATEMENT
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