MyEG has confirmed that it has received a letter of acceptance dated 16 October 2023 from the Ministry of Home Affairs to extend the Immigration-Related Services for a period of 2 years.
The group said the estimated total value of the extension will be dependent on the number of transactions performed over this period.
As part of the requirement under the Extension, the group will have to complete a system enhancement. MyEg said it will resume accepting applications for the Immigration related services upon completion of this system enhancement of which the commencement date will be announced by the Company in due course.
The Board is of 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.
