Saham Dagang NeXchange Bhd (DNeX) moved against the tide on Tuesday despite recording a big loss in earnings for the third quarter financial year ending 31 March 2023.
DNeX is a leading service provider in Malaysia's trade facilitation and energy sectors.
In early trading today, DNeX was the most actively traded counter on the Bursa jumping 10.26% to 43 sen before paring some gains to trade at 42 sen at the time of writing.
Earlier, the group reported a 564.37% drop in revenue with a record net loss of RM239.77 million in the third quarter from a net profit of RM51.6 million in the same quarter last year.
It is understood that the loss was caused by a RM252.4 million energy profit levy in the UK for its oil and gas operations under Ping Petroleum Ltd.
Meanwhile, revenue was reported to have fallen by 27.68% to RM276.71 million from RM382.64 million in the quarter.
Even with this dismal performance, the group still sees bright long-term prospects in the semiconductor industry.
Not only that, it is also optimistic about its information technology segment that it will continue to benefit from the National Single Window (NSW) for its trade facilitation services.
NSW is DNeX's one-stop trade facilitation system that helps connect traders with government agencies as well as trade and logistics parties through a single platform.
