KUALA LUMPUR (June 14): MyEG Services Bhd has inked a memorandum of understanding (MOU) to collaborate on the use of electric motorcycles and placement of battery swapping stations at designated locations for a trial period.

The two-year MOU was signed with Oyika Green Technologies Sdn Bhd (OGT), a wholly-owned unit of Yinson Mobility Sdn Bhd, which in turn is an indirect wholly-owned subsidiary of Yinson Holdings Bhd, said MyEG in a bourse filing.

It said OGT, which is involved in the manufacturing and assembling of electric motorbikes, will supply electric motorcycles to MyEG as a free trial for up to 30 days.

MyEG, meanwhile, will provide designated locations as agreed between the parties for the trial period, for OGT to deploy the battery swapping stations.

In a separate filing, MyEG said the group and its strategic partner Universiti Malaya are expanding their research collaboration with China Academy of Information and Communications Technology to include the development of artificial intelligence (AI) technology.

This follows the inter-governmental collaboration between Malaysia and China to develop transborder blockchain infrastructure as announced by the group in February. The research proposed a system that could prevent fraud in the supply chain process by using blockchain technology for cross-border trade.

“With the expansion, the research initiative will extend its scope to focus on leveraging AI to further streamline and optimise the cross-border trade processes, with the ultimate goal of reducing inefficiencies and improving the overall ease and speed of cross-border transactions,” said MyEG, which is the developer of the public Layer-1 blockchain platform Zetrix.

Shares of MyEG closed up two sen or 2.38% at 86 sen on Wednesday (June 14), giving the group a market value of RM6.39 billion.