OVERVIEW OF FY2023 BUSINESS ENVIRONMENT Worldwide IT spending grew at 4.4% to $3.25 trillion in 2023, as technology investments continue to show the impact of a weakening economy. This downward trend was reflected in the International Data Corporation’s (“IDC”) monthly forecasts1. Meanwhile, Malaysia’s IT business environment witnessed significant progress, largely driven by MyDIGITAL, the government initiative aimed at transforming the country into a high-income nation through digitalisation. Furthermore, the Malaysian Investment Development Authority (“MIDA”) has approved significant investments in the digital sector, which include data centres, data hosting and cloud-computing services projects. Total digital investments in 2023 exceeded RM75 billion, surpassing the target of RM25 billion target set for the year2. FY2023 FOCUS AREAS & PRIORITIES Trade Facilitation – Dagang Net • Upgrade existing platforms to offer new features and services, alongside enhanced data capture capabilities • Secure new Other Government Agencies (“OGAs”) • Strengthen position as a trade facilitation leader and a partner of choice for national-level initiatives • Expand Business-to-Government (“B2G”) services • Deliver improved trade facilitation across a wider network Trade Facilitation – SealNet • Maintain existing accounts and develop strategies for customer retention • Provide dedicated support to high-import and export corporations and their suppliers to streamline their business processes Tech Consulting & SI • Position IAC competitively to secure customers for S/4 HANA implementation and eGADS adoption for government agencies • Re-establish IAC’s consulting practice Subsea Telco • Consolidate ship management and project team management functions under one company to minimise currency exposure, drive cost efficiency and enhance governance • Implement cost-effective Marine Gas Oil (“MGO”) fuel bunkering plan for cable ship DNeX Pacific Link (“DPL”) Division-wide • Pursue large-scale IT projects in the public and private sectors INFORMATION TECHNOLOGY Management Discussion and Analysis – Business Review DAGANG NeXCHANGE BERHAD 88
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