MYEG has announced that the Malaysian Government through the Ministry of Home Affairs informed that the Ministry of Finance has approved the online platform appointed as the collection agent for the Government revenue and to extend its role as the provider of online services for the Immigration Department of Malaysia.
After months of speculation, MyEG has managed to secure the extension of its contract with the Home Ministry, the company said the terms of the extension will be finalised pursuant to further discussion with the Government in due course and an agreement to formalise the extension will be signed at a later stage.
The board added it is of the view that 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 years ending 31 December 2023 onwards.
At this point in time, the Board said it does not foresee any risks in relation to Extension.
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