MyEG / Wong Thean Soon

Re: MyEG / Wong Thean Soon

Postby winston » Sun Jul 29, 2018 7:38 am

not vested

Can MyEG bounce back?

by Ganeshwaran Kana

Examples of the new projects include a reporting system for the yet-to-be-launched sales and services tax and a new module for foreign workers.

“We are leveraging on what we have done locally and replicating it in different markets. Hence, we believe we have a competitive edge in these foreign markets,” says the company.

While government contracts contribute only about 20% to its top line, MyEG has marked its presence as Malaysia’s leading government services provider since its founding in 2000, covering many services including road tax renewal, foreign worker permit renewal, summons checking and zakat payments.

Besides, it handles over 50% of the car road tax renewals in Malaysia and almost all the foreign workers’ working permit renewal services.

The stock has continued to slide since then, amid foreign fund withdrawal from the market and unexciting stock exchange performance. On June 4, MyEG hit a multi-year low of 69 sen.

These potential competitors may include established players such as Datasonic Bhd and Prestariang Bhd, or even lesser-known yet upcoming companies such as Nova MSC Bhd

“One area which we are very excited about is Augmented and Virtual Reality (AR/VR), and so, we are starting to ramp up our investment in this segment. At MyEG, we believe AR/VR is truly disruptive and over time will totally change how everyone will experience life,” it says.

Source: The Star

https://www.thestar.com.my/business/bus ... mzmpjiC.99
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: MyEG / Wong Thean Soon

Postby winston » Fri Aug 24, 2018 9:17 am

not vested

My E.G. Services (MYEG MK)
The Waiting Period; A Whiff Of Fresh Air


MYEG’s share price has recovered to a three-month high in reaction to the entry of a new strategic investor who had taken up an estimated 1.1% stake and the planned reactivation of its foreign worker matching service which can lift earnings materially.

We maintain our HOLD call until there are clear signs of the government loosening up related policies on migrant intake, which has slowed significantly in the past few weeks.

Target price: RM1.27. Entry price: RM1.14.

My E.G. Services’ (MYEG) earnings growth could be lifted, underpinned by various potential services, namely:-
1. a revitalised foreign worker amnesty programme
2. remittance services
3. e-bidding services for vehicle plates and
4. foreign ventures at the Philippines


Source: UOBKH

https://research.uobkayhian.com/content ... 16c2dffdfd
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: MyEG / Wong Thean Soon

Postby winston » Tue Sep 04, 2018 9:19 am

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4QFY18: A better year ahead

At 97% of our full-year forecast, MyEG’s 12MFY6/18 net profit was in line with our and market expectations.

The company has submitted a proposal for a new module related to foreign workers to the government, which could be a major revenue generator if successful.

We raise FY18F EPS by 7.2% to reflect the 15-month FY18F financial year.

Maintain Add and raise target price from RM1.47 to RM1.72.

Source: CIMB

https://brokingrfs.cimb.com/BgA99dlaUT4 ... 36Cnw2.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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