Dagang Nexchange to focus on power industry this year

KUALA LUMPUR: The focus of Dagang Nexchange Bhd (DNeX) this year will be centered on the power sector following its diversification into the industry last year.
"Renewable energy is a sector we are looking with some level of focus attention...Going forward there will be capital expenditure (capex) plan for our power sector," group managing director Zainal Abidin Jalil told reporters after the company's AGM here today.
However, he said DNeX will be deploying a smaller capex this year of less than RM50 million, compared with the RM125 million last year, whereby bulk of the capex was spent on the acquisitions of Ping Petroleum UK Ltd and OGPC Group.
The group is currently participating in tender bids and direct discussions for mini hydro, solar and geothermal projects.