MORNING CALL:25/10/23 - video Dailymotion

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10/24/2023

HLIB is mildly positive on DNeX’s latest smart team-up

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00:00 HLIB Research is keeping its buy call on Dalgang Nexchange or Dinex after a recent news break,

00:07 but tweaked its target price ever so slightly lower to 71 cent from 72 cent previously.

00:12 This still implies a possible upside of just over 70% from its current levels.

00:17 Dinex has announced that it had entered into a JV agreement with CSI to set up a JV enterprise

00:22 to provide licenses and/or services to Chinese and international customers.

00:26 The JV also allows Dinex access to technology and solutions from China in the areas of smart

00:32 city and artificial intelligence solutions, among others.

00:36 Dinex will actually hold 60% of the China JV, while CSI will own the balance of 40%.

00:41 Recall that Dinex and Algen and Brothers had previously signed a JV agreement to carry

00:45 out systems integration in smart cities and large enterprise projects in the MENA region.

00:51 The newly formed JV agreement with CSI and collaboration agreement between both those JVs,

00:57 which are to be incorporated, marks a continuation of Dinex's venture into the MENA region by

01:02 leveraging on technology solutions from China and Algen and Brothers' access to the MENA region.

01:08 HLIB are mildly positive on this development as Dinex is actively looking for avenues to

01:13 expand its IT business by tapping into its experience and expertise in serving the public

01:19 sector in Malaysia.

01:20 Bloomberg data shows two calls on Dinex, the other being from BIMB, and both are buys.

01:25 Average target price works out to $0.64, and this is $0.225 more than its last close.

01:30 [music]

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