Monday 22 Apr 2024
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KUALA LUMPUR (Feb 28): MyEG Services Bhd’s net profit for the fourth quarter ended Dec 31, 2023 (4QFY2023) doubled to RM150.16 million from RM74.69 million a year earlier, on the back of 42.4% growth in revenue of RM222.06 million against RM155.99 million a year ago.

In a bourse filing, MyEG said the higher quarterly earnings were mainly contributed by its Zetrix blockchain platform, sale of Zetrix tokens, and the initial exchange offering of Zetrix tokens on three major global digital asset exchanges.

Earnings per share was two sen versus one sen previously.

The digital service provider proposed a final dividend of 1.68 sen per share, raising its dividend payout for FY2023 to 1.93 sen, which is 0.51 sen higher than 1.42 sen it paid for FY2022.

For the full financial year ended Dec 31, 2023 (FY2023), MyEG’s net profit expanded 22.32% to RM487.65 million from RM398.66 million in FY2022, as revenue increased by 20.57% to RM774.28 million against RM642.16 million a year earlier.

Besides its Zetrix blockchain platform and tokens, the annual earnings were also driven by the existing concession and commercial services, as well as the increase in foreign worker job-matching service due to the uplifting of the freeze on foreign worker recruitment.

On its outlook, MyEG said that it is cautiously optimistic on its long-term outlook to remain positive as it continues to introduce innovative services in Malaysia and in the global.

Shares in MyEG closed up half a sen or 0.64% to 79 sen on Wednesday, with a market capitalisation of RM5.93 billion.

Edited ByKathy Fong
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