This article first appeared in The Edge Financial Daily on October 3, 2019

KUALA LUMPUR: Dagang NeXchange Bhd’s (DNeX) unit has bagged a contract extension worth RM57 million from the Accountant General's Department of Malaysia for an information and communications technology (ICT) maintenance project.

Its unit Innovation Associates Consulting Sdn Bhd (iAC) received the contract extension, which is for one year, starting from Aug 10, 2019 to Aug 9, 2020, the group said in a statement.

Under the contract, it said iAC will be responsible for the maintenance of hardware, software and network equipment of the integrated Government Financial and Management System (iGFMAS), an accrual accounting shared services implementation.

DNeX unit is a leading consulting firm that has completed more than 100 projects in the public and private sectors. The company is also the contractor for iGFMAS, the government’s accrual accounting system.

“We would like to express our appreciation to the government of Malaysia for its continued confidence in us. We remain committed to offer top-notch services that not only meet requirements of customers but also enable them to further improve and grow their operations,” said DNeX executive deputy chairman Datuk Samsul Husin.

Samsul added that the company is also embedding technologies such as artificial intelligence, blockchain and big data analytics into its services to strengthen its position in the industry as a leading consulting firm.

DNeX’s share price ended half a sen or 1.82% lower at 27 sen yesterday, with a market capitalisation of RM474.67 million.