KUALA LUMPUR (Aug 21): MY EG Services Bhd (MyEG)’s net profit rose 25.85% to RM111.56 million for the second quarter ended June 30, 2023 (2QFY2023), from RM88.64 million a year ago, driven by the increase in revenue from the group’s existing services.

MyEG said the quarterly earnings were also contributed by its newly launched Zetrix blockchain platform and from the sale of Zetrix tokens. 

Earnings per share grew to 1.5 sen, compared to 1.2 sen a year before, the digital services provider said in a bourse filing.

Quarterly revenue improved by 14.27% to RM184.88 million from RM161.79 million, also driven by higher revenue from existing services and the Zetrix blockchain platform.

MyEG announced its first interim single tier dividend of 0.25 sen per share for 2QFY2023, with an ex-date of Oct 17 and to be paid on Nov 17.

For the cumulative six months of FY2023, MyEG’s net profit was 25.53% higher to RM217.49 million from RM173.26 million in the same period last year, as revenue increased 10.67% to RM358.09 million from RM323.56 million a year earlier. 

Moving forward, MyEG expects to continue introducing innovative services by leveraging new technologies — specifically blockchain or Web 3.0 — in Malaysia, as well as globally, to drive its organic growth for FY2023.

"Barring any unforeseen circumstances, the board is cautiously optimistic that the long-term outlook for MyEG remains positive, as we continue to introduce innovative services in Malaysia, as well as globally," it said.

Shares of MyEG settled unchanged at 79 sen on Monday (Aug 21), giving the group a market capitalisation of RM5.91 billion.