DAGANG NeXchange Bhd (DNeX) is understood to be close to bagging a three-year contract in Indonesia for the laying, maintenance and repair of submarine cables.
While details are scarce, sources say the contract could be worth RM200 million to RM250 million over the three years and is being awarded by an Indonesian government-linked company (GLC).
DNeX officials declined to comment when contacted, neither denying nor confirming market talk.
This contract should come as no surprise, however, as DNeX has been actively pursuing jobs in the republic over the past few years.
The company has secured contracts from PT Bina Nusantara Perkasa for the design, construction and installation of a fibre-optic network of about 700km for Matanusa and SMPCS Patara as part of the Indonesia Global Gateway Cable System; and for repair works of Indonesia Global Gateway Segment 13 off Palu, Makassar, and Segment 15 off Manado, Indonesia, to name a few. These contracts were considerably smaller in terms
DAGANG NeXchange Bhd’s (DNeX) bid for Khazanah Nasional Bhd’s semiconductor fabricating company SilTerra Malaysia Sdn Bhd, is only valid until the end of this month. That is because its Chinese partner Beijing CGP Investment Co Ltd’s approval from its government to take funds out of the country for the purpose of acquiring SilTerra will lapse at end-January, according to sources close to DNeX.
“If the government and Khazanah cannot make a decision before Jan 31, the approval will lapse and it will not be easy to request for another approval to take out the funds,” one of the sources tells The Edge.