The government has extended the service license to MYEG as agents for vehicle registration and other services it offers for owners.
The group said it had received a letter from the Road Transport Department of Malaysia to confirm the appointment of collection agents for the provision of vehicle registration services, driver and vehicle licensing, and electronic payment of summon services for a period of three years commencing from 23 May 2023 to 22 May 2026. The estimated total value of the Extension it said will be dependent on the number of transactions performed over this period.
An agreement to formalise the Extension will be signed and announced by the Company in due course.
The Board of Directors said in 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.
