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KUALA LUMPUR (December 4): MyEG Services Bhd (MyEG) has secured a three-year extension for the e-government services it provides.
In a bag filing today, the group said the Ministry of Transportation (MoT) had granted the extension from May 23, 2020 to May 22, 2023.
He said the extension is in the best interest of the company and is expected to contribute positively to the earnings and net assets per share of the company for the financial year ending December 31, 2020 (FY20) and beyond.
“An agreement to formalize the extension will be signed and announced by the company in due course,” he said.
On May 23, 2000, MyEG entered into a concession contract with the government for the electronic delivery of vehicle and driver registration services, licenses and citations, and payments of utility bills (e-services) for a minimum period of 15 years.
On May 21, 2020, the group received an official notification from the government to continue providing e-government services until June 30, 2020.
As of midday today, MyEG was 18 sen or 10.84% higher at RM1.84, valuing the group at RM6.25 billion. He was among the top winners in today’s morning session.
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