KUALA LUMPUR (Feb 2): Dagang NeXchange Bhd’s (DNeX) subsidiary Innovation Associates Consulting Sdn Bhd (IAC) has bagged a RM4.05 million maintenance contract from the Inland Revenue Board of Malaysia (IRBM).

Under the contract, IAC will be responsible for the application and software maintenance of Malaysia Hasil Integrated Taxation Systems (HITS). The one-year contract is expected to commence in February 2023 and be operationalised at IRBM’s headquarters in Cyberjaya.

In a statement, DNeX executive chairman Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said the maintenance contract for HITS can further position DNeX on a better footing and reinforce the company’s technology consulting and system integration arm via IAC to expand its digital capabilities in pursuit of becoming a top regional digital transformation player.

According to DNeX, the maintenance contract can further extend IAC’s capabilities in deploying and maintaining a complex system developed using a low-code application development platform.

It added that the company will continue to develop its capabilities while aggressively expanding its market share for new projects in the public and private sectors locally and overseas.  

At the time of writing, DNeX’s share price went up 1.5 sen or 2.29% to 67 sen, giving the company a market capitalisation of RM2.12 billion. However, over the past one year, the stock has dropped 31.6% from 98 sen.