DNEX (4456) DAGANG NEXCHANGE BHD - DNex consortium undertakes RM12.18mil Indonesian cable laying works
KUALA LUMPUR: Dagang Nexchange Bhd's (DNex) consortium has secured a Rp43.49bil (RM12.18mil) contract from PT Infrastruktur Telekomunikasi Indonesia for the main lay works of the Luwuk-Morowali-Kendari (Lumori) and Labuan Bajo-Raba submarine cable communication system links.
The consortium comprises of PT DNeX Telco Indonesia, a 95%-owned subsidiary of PT Dagang Samudera Hutama, PT Samudera Mbiantu Sesami and PT Infrastruktur Telekomunikasi Indonesia for the deployment, management, maintenance and repair as well as other value added works for the Maintenance Support Sistem Komunikasi Kabel Laut within and outside Indonesia.
PT Dagang Samudera Hutama is 49%-owned by Dagang Net Technologies Sdn Bhd, a unit of DNex.
DNex said in filing with Bursa Malaysia that the contract is valid from the date of the letter of intent on March 8, 2021, to 30 days following the expiry of the work completion period.
Under the terms of the agreement, the consortium undertakes to complete and deliver the work within a period of 62.6 business days.