KUALA LUMPUR (Dec 4): MyEG Services Bhd (MyEG) has secured a three-year extension for the e-government services it provides.
In a bourse filing today, the group said the Ministry of Transport (MoT) had granted the extension from May 23, 2020 to May 22, 2023.
It said the extension is in the best interest of the company, and expected to contribute positively to earnings and net assets per share of the company for the financial year ending Dec 31, 2020 (FY20) and thereafter.
“An agreement to formalise the extension will be signed and announced by the company in due course,” it said.
On May 23, 2000, MyEG entered into a concession agreement with the government for the electronic delivery of driver and vehicle registration, licensing and summons services, and utility bill payments (e-services) for a minimum tenure of 15 years.
On May 21, 2020, the group received an official notification from the government to continue with the provision of the e-government services until June 30, 2020.
At the noon break today, MyEG was 18 sen or 10.84% higher at RM1.84, valuing the group at RM6.25 billion. It was among the top gainers in the morning session today.