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