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KLSE: DNEX       DAGANG NEXCHANGE BHD
Last Price Avg Target Price   Upside/Downside Price Call
0.46 0.70     +0.24 (52.17%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
22/11/2017 0.435 0.75 +0.315 (72.41%) BUY TA Price Target News
04/10/2017 0.47 0.55 +0.08 (17.02%) BUY BIMB Price Target News
28/09/2017 0.48 0.75 +0.27 (56.25%) BUY TA Price Target News
23/08/2017 0.50 0.76 +0.26 (52.00%) BUY TA Price Target News
07/07/2017 0.60 0.76 +0.16 (26.67%) BUY TA Price Target News
19/06/2017 0.59 0.74 +0.15 (25.42%) BUY TA Price Target News


Price Target Research Article/News (past 6 months)
22/11/2017  TA Dagang NeXchange Berhad - Expecting An Impressive 4Q17
04/10/2017  BIMB Dagang NeXChange - Transformation in progress
28/09/2017  TA Dagang NeXchange - Expecting a Strong 2H17
23/08/2017  TA DNEX - Better 2H Ahead
07/07/2017  TA Dagang NeXchange - Expansion into Downstream Services
19/06/2017  TA Dagang - Project Delay Offset by Better Margins



  20 people like this.
 
ooibkk23 The monkey show was over, hope real show is coming....
12/12/2017 17:12
thomashan i so saddddddd............................
12/12/2017 17:14
KingDavid still cheap. Don't miss the boat. You still can buy.
12/12/2017 17:20
adamdacutie I suspect they re letting out the news of anasuria acquisition !? Or possible the merging news follow by the acquisition... I can't sleep d tonight ...Gogo dnex
12/12/2017 17:22
michaelooi the show starts when all get demoralised n give up.
12/12/2017 17:24
King Musang I also heard similar news, they want bigger pie on Anasuria and potentially more similar fields in UK together with PING. They are going to compete with Hinbiscus see who is bigger! Tomorrow jumpe in top up more!
12/12/2017 17:24
Mohd Fahmi Bin Jaes http://www.theedgemarkets.com/article/improved-oil-and-gas-prices-likely-lift-dnex
12/12/2017 17:25
thomashan okok thanks all
12/12/2017 17:27
Mohd Fahmi Bin Jaes The research house maintains its “add” call and pegs a target price of 74 sen to DNeX based on a sum-of-parts valuation.
12/12/2017 17:27
thomashan dont know if i am able to get 0.46 or not lol most of the time when closing strong next day sure gap up
12/12/2017 17:27
rijack88 limit up tml!
12/12/2017 17:28
speculative Luckily enter dnex warrant yesterday at 0.18.. 2.5k lot.. haha.. I smell something yesterday.. good to hear today boom .. gogo dnex..
12/12/2017 17:33
speculative Today buy dnex partner censof.. hopefully both conter shoot up more tomorrow
12/12/2017 17:35
TomyamGong TP from local bank 0.76
12/12/2017 18:00
dnexgogogo INFORMATION technology player Dagang NeXchange Bhd’s move to buy a 30% stake in Ping Petroleum Ltd in June last year could pay off handsomely in the coming quarters with crude oil prices stabilising at about US$60 per barrel, executives familiar with the company tell The Edge.

Ping’s main asset is its 50% equity interest in the Anasuria Cluster located off the east coast of Scotland in the North Sea.

The Edge understands that Ping’s cost to produce oil at Anasuria is as low as US$27 per barrel, in contrast to the current oil price level of US$63 per barrel.

“This means that Ping stands to make great margins, which should creep into DNeX’s bottom line,” a merchant banker familiar with the oil and gas industry says.

Ping — an independent exploration, development and production company that focuses on shallow water offshore development and production in Southeast Asia and the North Sea in the UK — and its partner Hibiscus Petroleum Bhd had acquired the Anasuria Cluster for US$105 million or RM447.143 million cash from units of both Shell and Esso.

The Anasuria Cluster holds 100% equity interest in the Guillemot A field, Teal field and Teal South field, and 38.65% in the Cook field. Also wholly owned by the Anasuria Cluster is the Anasuria floating production storage and offloading vessel or the Anasuria FPSO. An FPSO is an offshore production facility that houses both processing equipment and storage for produced hydrocarbons.

According to DNeX’s announcements when it acquired Ping, based on a valuation report produced by an independent technical and asset valuation unit, as at Jan 1, 2015, the proved and probable (2P) reserves of the Anasuria Cluster were estimated at 40.4 MMstb (million stock tank barrels) of oil reserves and 27.9 Bscf (billion standard cubic feet) of gas reserves.

Basically, DNeX has 15% equity interest in the Anasuria Cluster and, thus, its reserves. “Ping got it right at Anasuria,” an executive with another oil and gas company says.

To recap, DNeX bought into Ping in June last year — having commenced negotiations in September 2015 — and forked out US$10 million or RM42.05 million at the time for a 30% stake.

During the negotiation period, Brent crude averaged US$42.88 per barrel, fluctuating between a low of US$27.88 in January last year and a high of US$53.05 in October 2015.

DNeX also wholly owns OGPC Sdn Bhd, which is a supplier, service provider and contractor in the oil and gas industry, but Ping is likely to be the jewel in the crown of the company in the sector.

DNeX has three core businesses — corporate services, information and communications technology and energy. The bulk of its earnings comes from ICT, which contributed RM34.9 million to profit before tax for the nine months ended Sept 30.

In the nine-month period, DNeX registered a net profit of RM41.92 million on revenue of RM142.43 million. It had cash and bank balances of RM70.87 million while on the other side of the balance sheet, it had long-term borrowings of RM17.5 million and no short-term debt commitments to speak of. Its shareholders’ funds stood at RM429.67 million.

DNeX’s energy division contributed RM11.29 million or 23.4% to profit before tax and RM48.23 million or 30.78% to revenue.

In a report released after DNeX’s financial announcement, CIMB Research says the company’s 9MFY2017 earnings made up only 70% of the full-year forecast. However, it expects stronger earnings in 4Q2017, driven by a bigger contribution from Ping on the back of higher crude oil prices, among others.

“Overall, we project DNeX to record a robust FY2016-FY2019F net profit CAGR of 17%, driven by earnings growth in both its IT service and energy segments,” the report says.

The research house maintains its “add” call and pegs a target price of 74 sen to DNeX based on a sum-of-parts valuation.

According to CIMB’s forecast, DNeX is slated to generate a net profit of RM60.39 million on revenue of RM233 million in its financial year ending Dec 31, 2017. The research house sees the company recording a net profit of RM72.23 million on revenue of RM276.2 million in FY2018.

While its prospects seem bright, DNeX’s share price has not fared well. Since hitting a 52-week high of 69 sen on May 3, the stock has shed about 37% of its value and closed at 41 sen last Thursday, giving DNeX a market capitalisation of RM719.7 million.

DNeX’s largest shareholder is publicly traded Censoft Holdings Bhd, which has a 16.25% stake or 285.06 million shares in the company. Privately held Arcadia Acres Sdn Bhd, the vehicle of DNeX managing director Zainal Abidin Abd Jalil, holds a 13.47% stake in the company while Azman Karim, an executive director, has 11.09% equity interest.
12/12/2017 18:00
Yu_and_Mee trap?
12/12/2017 18:11
MrJasone How is this a trap? Lol. There is potential in DNex.
12/12/2017 18:23
adamdacutie Believer like me loaded up a significant amount at the bottom ...Am glad I did just that .... Trap? Yu and Mee ...May be u ate too much of maggi mee
12/12/2017 18:27
vespa Expect price to move up with well coordinated press reports.
12/12/2017 18:30
Betta68 Tomorrow up toward 0.495 - 0.510.
12/12/2017 18:43
Keith Han Oil & Gas income is extra bonus for DNEX , I'm looking forward to their potential business in RFID Solutions. : )
12/12/2017 18:52
Mohd Fahmi Bin Jaes Valuation
Our TP remains unchanged at RM0.75 based on SOP valuations. Maintain BUY on DNeX as in our opinion, it expanded into the O&G sector at the right time.
Source: TA Research - 22 Nov 2017
12/12/2017 18:54
Mohd Fahmi Bin Jaes https://www.thestar.com.my/business/business-news/2017/12/12/oil-tops-$65-first-time-since-2015-on-uk-pipeline-outage/
12/12/2017 18:56
Tai KT same article in Nov, price was down in Nov.
similar articles in Dec, price is up now.
so, the up and down are not relate on the ib target.
12/12/2017 18:59
ooibkk23 Today is just a wake up call... Prefer it goes up slow and steady... Or like hibiscus one very big jump and stay on top.....
12/12/2017 19:13
joetosh what happened to my WD.... 20% in one day... alhamdulillah...
12/12/2017 19:21
Betta68 After seen Dnex share reaction of today, tomorrow will open higher, perhaps 0.465 based on my previous experiences in Dnex.
12/12/2017 19:44
Haters hold hold until rm1.00
12/12/2017 20:29
fkser A lot of liar
12/12/2017 20:35
ooibkk23 Careful fkser, shark zone...you better stay away .
12/12/2017 20:45
tecpower Improved oil and gas prices likely to lift DNeX http://www.theedgemarkets.com/article/improved-oil-and-gas-prices-likely-lift-dnex
12/12/2017 21:53
tecpower I bought DNEX near a bottom, but I forgot to add more.
12/12/2017 21:55
Betta68 Yeh, everybody is a shark...
12/12/2017 21:55
ooibkk23 We need shark to push it up. If not, you think Ikan bilis like us can push it up? Dreaming....
12/12/2017 22:00
king36 Shark?
U should c the difference in the mgmt of DNEX and Hibiscus, or may be some smart guys can tell us why one is moving to 80+ and DNEX is still ICBC.

I still think if the mgmt could reduce the exercise price of the son, maybe this will help to push the son's price up.
12/12/2017 22:06
amet2017 jangan cakap banyak..tengok esok ada pertunjukan lagi kah
12/12/2017 23:14
Tradewinds The difference between both companies quite obvious if you bother to do an indepth study.
12/12/2017 23:14
vespa wrt TaiKT's remarks which are so apt these market moves are fixes just as in Hibiscus that needs to fix its warrant exercise price and therefore limits its rise. Dnex drove down for some huge share buy and now that has happened its time to move it up ..nothing has changed over the last two months but price of oil incrementally higher. Market fixes and manipulations ...
12/12/2017 23:36
hstha The last QR was better than what people think because of this.

However, this will be partly offset by lower contribution from Anasuria given a planned turnaround at its production facility for 21 days in 3Q17. Production is expected to be temporarily halted for circa 21 days, with likelihood of heavy capex costs.

https://klse.i3investor.com/blogs/taresearch/130642.jsp
12/12/2017 23:52
mamatede Everybody relates Dnex to Oil and gas, while they forget the VEP business that Dnex has.
13/12/2017 01:06
hstha Brent crude oil jumps to mid-2015 high after North Sea pipeline outage | http://www.klsescreener.com/v2/news/view/318255
13/12/2017 07:15
Masprofit Foreiner funds in....+ speculatif.......no nws right now........!!!!!
13/12/2017 08:43
winwin2288 last quarter good also haven't push out. now is the time !
13/12/2017 08:50
ltw1123 Good start for today, DNEX!
13/12/2017 09:01
Sanatan Good start, don't sell low. Let the price move up.
13/12/2017 09:03
GoodBoy Let Dnex break above 0.50 today ... cheers ...
13/12/2017 09:13
Newplayer286 Ya keep selling at low price. Let it fly like flower la
13/12/2017 09:17
winwin2288 Dnexian reunion !
13/12/2017 09:19
nakamura walao siao liao lar, double money, triple the profit!!!
13/12/2017 09:23
winwin2288 i bought again after qr released.
13/12/2017 09:26


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