KUALA LUMPUR: Dagang NeXchange Bhd (DNeX), through subsidiary company Innovation Associates Consulting Sdn Bhd (IAC), has been awarded a RM59.4 million information and communication technology (ICT) maintenance project from the Accountant General's Department Malaysia. The tenure of the project is one year, starting from Aug 10, 2018 to Aug 9, 2019. Under the project, DNeX will be responsible for maintenance of hardware, software and network equipment of the Government Financial and Management Accounting System (iGFMAS), an accrual accounting shared services implementation. IAC is one of the two leading consulting and accounting system services companies acquired by DNeX earlier in January this year. DNeX, through wholly owned subsidiary Dagang Net Technologies Sdn Bhd, has acquired 51% equity interest in Genaxis Sdn Bhd for RM10 million, and this acquisition gives Dagang Net a direct equity interest of 60% in IAC. "Our acquisition of Genaxis and IAC was aimed to expand and strengthen our IT and e-services business segment, namely accounting system and consultancy, and the project is indeed affirmative towards this direction,” said DNeX executive deputy chairman and Dagang Net executive chairman Datuk Samsul Husin. Genaxis is an experienced consulting firm that delivers training and consulting services in transformation initiatives, and has worked with numerous organisations and agencies. IAC, meanwhile, is a leading consulting firm with more than 300 experienced consultants that has completed more than 100 projects in the public and private sectors. The company is currently the contractor for iGFMAS, the government's accrual accounting system.