Dagang NeXchange Berhad Annual Report 2019

SUSTAINABILITY REPORT DAGANG NeXCHANGE BERHAD 84 L EAD I NG BUS I NESS I NNOVAT I ON AND GROWTH • DNeX’s associate company Ping Petroleum Limited, has signed a rig contract with Stena Spey Services Limited to drill two firm wells in 2019. The first is the Guiollemot A GUA P1 side-track, and the second well is a development well in Avalon field (4 March 2019). • DNeX’s Portable Container System (“PCS”) delivered by DNeX is on-going. DNeX, through OGPC Sdn. Bhd. was awarded a contract to supply PCS for petroleum products by Petro Teguh (M) Sdn. Bhd. in 2017. The contract involves designing, engineering, procurement, construction, installation and commissioning of up to 100 units of PCS. The contract also covers maintenance and supply of parts. However, the project initially faced challenges which include site readiness and identifying the right proprietor of the PCS. The contract price of a PCS station ranges from RM450,000 to RM1.5 million depending on the specifications and requirements of the location and the captive market it is designed to serve (13 March 2019). OURPROFIT Our profit strategy 1. We build competitiveness for our customers through our products, solutions and services; 2. We identify effective mechanism that maximise productivity, creativity and results; 3. We take the initiative to work with our stakeholders to manage project and reputational risks and identify relevant business trends; and 4. We adhere to the highest compliance standards and promote integrity as one of our core values and code of conduct, which fights corruption and fraud. Building long term value in the markets where we operate Across our business units, our core mission is to deliver solutions that enable our customers to operate at peak efficiency and performance. We help customers to automate processes, maximise reliability, increase productivity, reduce waste, and avoid unexpected issues. Similarly, we focus on the same priorities within our own business operations, thus enabling us to shape a future that is sustainable and ideal for our stakeholders and the communities we work within. Advancing Process Excellence We believe that business profitability and process excellence go hand in hand in ensuring sustainable business operations, profitability and growth. By establishing operational “best practices” standards on serving our customers and operating the business, our employees will be guided in conforming to our practices on sustainability. (Continued next page) STRENGTHEN BUSINESS PLATFORMS New Contracts SUSTAINABILITY FRAMEWORK DNeX’s sustainability effort focuses on our management of Profit Stakeholders Planet & Society People & Workplace