This collaboration, while serving as a springboard to accelerate Malaysia’s economic growth, will be vital in expanding our footprint in Malaysia and the region, while further strengthening our connections to government entities and GLCs. Moreover, in August 2022, we signed a Collaborative Framework Agreement (“CFA”) with Ajlan & Bros Holding Group (“Ajlan”), one of the largest private sector conglomerates in the Middle East. This will see us form a joint venture company in the Kingdom of Saudi Arabia (“KSA”), opening up lucrative new prospects for us within the previously unexplored Middle Eastern and North African markets. In line with KSA’s Saudi Vision 2030, the nation aims to be an integral driver of international trade routes for Asia, Africa, and Europe, and Ajlan intends to leverage on our three decades of experience as the operator of Malaysia’s NSW to effectively develop and manage a complex and comprehensive electronic-based trade ecosystem. A CAUTIOUSLY OPTIMISTIC OUTLOOK TO THE FUTURE Looking ahead, we are in a unique position to capitalise on several global shifts that are occurring within the industries in which we operate. The pandemic has accelerated digital transformation efforts and made it a key priority across all industries, and this will significantly broaden the market that we can tap into for new customers. Simultaneously, as international trade continues to ramp up in the post-pandemic era, our Trade Facilitation services will be essential tools that exporters and importers will seek to employ. The continuing increase in global digital advancement also bodes well for our growing interest in the global semiconductor supply chain, as our cutting-edge wafer fabs, enhanced by our forthcoming innovation centres, will be well poised to cater to the burgeoning demand for the latest chip technologies. In the global O&G industry, as supply remains limited due to the ongoing bans on Russian oil exports, our Energy Division will stay on course to benefit from the situation, especially with Ping’s considerably low cost of operations of less than USD30 per barrel. Keeping an eye on potential pitfalls in the forex market due to the pound sterling’s volatility, we will step up our hedging efforts to mitigate preventable losses. Finally, as the global sustainability agenda gathers momentum, we are pleased that we have taken crucial step forwards in identifying and prioritising our ESG considerations, while setting forth clear ambitions that we can work towards in the coming years. ACKNOWLEDGEMENTS As I reflect on the triumphs that the DNeX Group has collectively achieved during FY2022, I am humbled by the tireless efforts put in by the entire organisation. It is thanks to the dedication and commitment shown by everyone, from the leadership to the management and to the staff, that we have been able to successfully undertake our transformational efforts, institute a common culture of financial prudence, and establish Group-level frameworks to drive excellence across the board. I would like to take this opportunity to express my sincere gratitude to our Chairman, Tan Sri Abd Rahman Mamat, members of the Board and the entire team of hardworking employees across the Group for their immense contributions. My heartfelt appreciation further extends to all of our shareholders, customers, business partners and other loyal stakeholders for having resolute faith in the approach we have taken and for their unwavering support. While we recognise that the path ahead will no doubt be filled with a fair share of challenges, I am nevertheless confident that these accomplishments during FY2022 marks the beginning of an exciting new era for the Group. With a rejuvenated leadership at our helm, an empowered and motivated workforce at our calling, and an expanding pool of financial and strategic resources to leverage upon, we will maintain our keen focus on creating meaningful value for all our stakeholders as we continue to pursue our robust global growth ambitions. 35 DNeX INTEGRATED REPORT 2022
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