KUALA LUMPUR (Oct 25): MyEG Services Bhd's (KL:MYEG) joint venture company MYEG Philippines Inc (MYEG PH) has partnered with the Philippines' National Home Mortgage Finance Corporation (NHMFC) to integrate its payment system with the state-owned agency's platform.

NHMFC is a Philippine government agency tasked with expanding access to affordable housing finance in the country.

The two parties signed a memorandum of agreement on Oct 22, paving the way for the expansion of payment channels available to NHMFC borrowers, according to MyEG's filing on Friday.

The expanded payment options were soft-launched on the NHMFC Online Payment System following the signing, with full access to the public set to commence on Nov 4, 2024.

MYEG PH specialises in electronic solutions, focusing on the automation of government services via its technology platform, which includes internet-based solutions, big data, and electronic payment systems.

“Through this partnership, NHMFC clients will benefit from the expanded payment options that make managing their mortgage payments easier and more flexible,” said MYEG PH chief executive officer Ann Margaret T Saldaña.

Meanwhile, NHMFC president Renato L Tobias added that the collaboration aligns with the agency's commitment to providing clients with the best possible service.

Beyond the Philippines, MyEG also operates in Indonesia, Bangladesh, and China.

Shares in MyEG closed one sen or 1.12% lower at 88.5 sen on Friday, giving the group a market capitalisation of RM6.72 billion. Year-to-date, the stock has risen 10.62%.