DNex buys consultancy firm for RM10mil

KUALA LUMPUR: Dagang Nexchange Bhd (DNex) is planning to buy a majority stake in a business consultancy firm for RM10mil, with an eye to participate in a Government project.

In a filing with Bursa Malaysia today, DNex said the acquisition of a 51% in Genaxis Group Sdn Bhd is subject to several conditions.

One of which is that Genaxis must complete the purchase of a 60% stake in Innovation Associates Consulting Sdn Bhd (IAC).

Genaxis is an experinced consulting firm delivering training and services in business transformation activities.

Meanwhile, IAC is one of the leading consulting firm with more than 300 experienced consultants.

The company is the contractor for a RM228.8mil project to deliver financial and management accounting system for the Accountant-General’s Department.

DNex said it expects the acquisition “to add value” to its core trade facilitation services.

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