Moreover, we are also enhancing our Enterprise Resource Planning (“ERP”) system to provide our management teams with seamless access to critical data points and analysis. This upgrade will significantly improve productivity and ensure accurate decision-making based on precise insights. Such advancements are pivotal in achieving heightened efficiency in management, a fundamental requirement for our Group to compete effectively on the global stage. I firmly believe that a robust organisational culture and a highly competent workforce will serve as the dual engines propelling DNeX into a new era of growth. While driving such a cultural shift requires time, we have already taken significant strides forward. Through the implementation of a comprehensive roadmap and the introduction of new systems and processes, we are uniting our employees under a collective vision, fostering a culture of collaboration and excellence across the Group. OUTLOOK Despite the challenges encountered in the period under review, we remain optimistic about the future prospects across all our divisions. Our strategic focus is on enhancing operational efficiencies, fortifying fundamentals and identifying high-growth opportunities within each business segment. As a diversified Group, it is imperative that each division achieves profitability independently and contributes significantly to our overall progress. While our Technology division faced profitability struggles in FY2023, we see significant long-term potential for growth and expansion. The anticipated recovery of the global semiconductor industry, driven by increasing demand for AI and high-performance computing (“HPC”), coupled with stabilising demand in key sectors, presents promising opportunities. Furthermore, our strategic emphasis on integrating emerging technologies like MEMs and Silicon Photonics into our product mix positions us well to capitalise on market growth, supported by the expansion of our production capacity. In the Energy division, favourable oil prices are expected to continue, which will provide stability for our operations at the Anasuria cluster in the North Sea. To drive progress in our UK-based endeavours, the Group’s corporate team is collaborating with Ping to drive greater alignment with our transformation goals and support fundraising and fund management efforts for the development of the Avalon and Fyne fields. In Malaysia, our immediate goal is to reactivate the Abu Cluster and commence production in 2025, before shifting our focus to the development plans for the Meranti cluster. We have also submitted further bids for more Malaysian fields as part of Petronas Malaysian Bid Round (“MBR+”) in 6Q of the period under review, with the awarding of these tenders expected to be announced in the second half of 2024. Opportunities also lie in store for OGPC in light of PETRONAS’ aim to sustain and grow Malaysia’s oil and gas production to two million barrels of oil equivalent per day (MMboe/d) by 2025 and beyond. With this target set to create significant new opportunities in the oil and gas sector, OGPC is pursuing various general maintenance and pipeline maintenance tenders. Leadership Insights DAGANG NeXCHANGE BERHAD 16 GROUP CHIEF OPERATING OFFICER’S STATEMENT
RkJQdWJsaXNoZXIy NDgzMzc=