(June 18): Dagang NeXchange Bhd (KL:DNEX) has secured a RM103.76 million contract from the government to continue providing support for the Integrated Government Financial and Management Systems (iGFMAS) over a period of 60 months.

The contract, awarded by the Ministry of Finance (MoF) to DNeX’s subsidiary Innovation Associates Consulting Sdn Bhd (IAC), covers the maintenance, support services and application enhancement of iGFMAS.

IAC specialises in enterprise system integration, delivering end-to-end digital transformation solutions for public sector agencies and large organisations.

iGFMAS is an accrual-based accounting system implemented by DNeX for the government.

“We are deeply honoured to continue our work on the iGFMAS, a system of national importance. This contract allows us to build on our existing foundation and further enhance the platform to meet the evolving financial governance needs of Malaysia,” said DNEX’s group CEO Faizal Sham Abu Mansor.

“We are in full alignment with the government’s aspiration of having government services to be agile in adapting to technology and digital means as a way to better serve the Malaysian public. This continued trust placed in us by the MoF is a strong testament to our group’s commitment and capability,” he said in a statement.

DNeX’s IT business segment — comprising Dagang Net Technologies Sdn Bhd, IAC, DNeX Solutions Sdn Bhd and its joint-venture unit Gamuda DNeX Cloud Sdn Bhd — offers an integrated suite of industry-leading solutions that support digitalisation across both the public and private sectors.

The IT segment contributed 19.2% of the group’s total revenue for the financial year ended Dec 31, 2024 (FY2024). The technology segment, driven by its semiconductor arm SilTerra Malaysia Sdn Bhd, contributed 53.6%, while the energy segment accounted for 27.2%.

Shares of DNEX closed unchanged at 29 sen on Wednesday, giving it a market capitalisation of RM1 billion. Year-to-date, the counter has fallen over 27%.