6 Leadership Insights DAGANG NeXCHANGE BERHAD Integrated Report 2024 Staying Agile in a Shifting Landscape The past year brought its share of challenges, but we remained focused on navigating uncertainties and positioning DNeX for long-term success. Our semiconductor business under the Technology Business Segment demonstrated resilience despite legal and operational complexities. The arbitration proceedings at SilTerra introduced some uncertainties, but with continued engagement, we now have clarity and room to renegotiate key aspects. At the same time, the rising demand for artificial intelligence (“AI”), cloud computing and data-incentive applications is accelerating the need for advanced semiconductor technology. This trend directly benefits SilTerra, strengthening our position in the semiconductor industry and unlocking new opportunities for growth in an increasingly digital world. Meanwhile, in our Energy Business Segment, the oil and gas business in the United Kingdom faced pressure from regulatory changes, including an increase in the Energy Profit Levy (“EPL”) and the removal of investment allowances, both of which affected financial performance and investment decisions. These regulatory shifts, combined with operational challenges such as shutdowns and contamination issues, further impacted our performance. In response, we have taken a strategic step to rebalance our focus towards Malaysian oil fields, particularly the Abu Cluster, where we have greater control and operational stability. Recognising the importance of diversifying our revenue streams, we strategically expanded our IT Business Segment beyond its traditional government-driven business model into private-sector digital transformation. This shift enhances our resilience and positions us for sustainable growth in an evolving digital economy. As demand for cloud computing and AI-driven solutions continues to rise, we partnered with Google Cloud and formed a joint venture with Gamuda in 2024 to seize these opportunities. These collaborations have strengthened our sovereign cloud capabilities and further cemented our role in Malaysia’s digital transformation landscape. “We strategically expanded our IT Business Segment beyond its traditional governmentdriven business model into private-sector digital transformation” Group Chief Executive Officer’s Statement Dear Shareholders, It is an honour to address you for the first time as the Group Chief Executive Officer (“GCEO”) of Dagang NeXchange Berhad (“DNeX” or “the Group”). Stepping into this role at a pivotal moment, I have inherited a well-established conglomerate with a strong foundation in Technology, Energy and Information Technology (“IT”). The Group is in a transition phase, an evolution towards something even greater. My role is to build upon DNeX’s strengths, unlock new opportunities and drive DNeX toward the next stage of growth and excellence.
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