(DNeX) consortium has inked an agreement with PT Infrastruktur Telekomunikasi Indonesia (TelkomInfra) to maintain submarine cables in Indonesia.
In a statement, DNeX said its business units that signed the agreement with TelkomInfra are PT DNeX Telco Indonesia (PT DTI) and PT Samudera Mbiantu Sesami (PT SMS).
“The agreement inked is to form a consortium for the deployment, management, maintenance and repair as well as other value-added works for the Maintenance Support Sistem Komunikasi Kabel Laut within and outside the territory of Indonesia, ” it said.
DNex noted that TelkomInfra, which would be appointed as the consortium leader, would be responsible for logistics arrangements, securing various projects permits and overseeing project management.
KUALA LUMPUR (Jan 25): Dagang NeXchange Bhd (DNeX) has inked a consortium agreement with PT Infrastruktur Telekomunikasi Indonesia (TelekomInfra) to maintain submarine cables there.
DNeX signed the agreement via a consortium comprising its unit PT DNeX Telco Indonesia (PT DTI) and PT Samudera Mbiantu Sesami (PT SMS), it said in a statement today.
The group said the agreement is for the deployment, management, maintenance and repair, as well as other value added works, for the sea cable communication system maintenance support within and outside of Indonesia.
Under the deal, the consortium is established for a period of three years and may be extended over the next three years.
KUALA LUMPUR (Jan 22): Dagang NeXchange Bhd (DNeX) is acquiring an additional 60% of the issued share capital in Ping Petroleum Ltd for US$78 million (RM314.3 million), as the group looks to further strengthen its presence in the upstream oil and gas (O&G) segment.
In a statement, DNeX said it entered into a conditional share sale and purchase agreement with the other shareholders of Ping to acquire the stake, which upon completion will increase its holdings in the latter to 90%.
It said the transaction price for the 60% stake represents a discount of around 40% of the market valuation of Ping’s proved and probable (2P) reserve. The purchase will be satisfied by a combination of US$40.95 million (RM165.0 million) in cash, and the issuance of new ordinary shares in DNeX and new redeemable preference shares in its wholly owned unit DNeX Energy Sdn Bhd, for the remaining US$37.05 million (RM149.3 million).
DNeX strengthens investment in upstream O&G 22 Jan 2021 / 17:53 H.
PETALING JAYA: Dagang NeXchange Bhd (DNeX) has entered into a conditional share sale and purchase agreement (SSPA) with the other shareholders of Ping Petroleum Limited to acquire an additional 60% stake in Ping not owned by DNeX, for US$78.0 million (RM314.3 million).
Based on the SSPA, DNeX may nominate its wholly owned subsidiary DNeX Energy Sdn Bhd to be the transferee and registered holder of those shares.
DNeX currently owns 30% in Ping through DNeX Energy. The proposed acquisition will be satisfied by a combination of US$40.95 million in cash, and the issuance of new shares in DNeX and new redeemable preference shares in DNeX Energy, for the remaining US$37.05 million.