Extract from mindabursa above update dated 17/9/20:-
“The government is to announce the winner of NIISS project anytime soon. This ‘soon’ has been in the news since early of this year. The winner could be IRIS or a Consortium led by MyEG.”.
Look at the key word however IF announce tomorrow means good news for all of us here.
Not going to announce tmr, don't be disappointed. Iris performing like any other stock after QR season, especially on par with tech stocks. Even good QR/ news market will sell. About to touch support level, macd slowing pickup. Iris is good even without niis...niis just a hype. I bought not because niis.
I wonder if Iris really bags the NIIS deal, will the price shoot up? Looking at many recent instances of other counters, project acquisition announcement or other positive news don’t seem to bring up the share price. What do you all think? Does anybody have the same concern?
Controlling shareholder TS Wong mops up more shares in MyEG TheEdge Sat, Sep 19, 2020 05:38pm - 2 hours ago
KUALA LUMPUR (Sept 19): Wong Thean Soon, better known as TS Wong, bought an additional 1.31 million shares in MyEG Services Bhd yesterday, according to the company’s filing with Bursa Malaysia.
He bought the block of shares at RM1.405 per share.
Wong is the single largest shareholder of the e-government service provider, with a 31.43% stake, including an indirect 20.87% held via Asia Internet Holdings Sdn Bhd.
Wong has been quite actively accumulating MyEG shares recently, both directly as well as through his investment vehicle Asia Internet. MyEG’s bourse filings show that Wong bought about 5.3 million shares in August, while Asia Internet mopped up five million more.
MyEG's share price has rebounded 73.7% from a trough in mid-March, closing at RM1.39 yesterday. Year to date, the stock has gained 26.4% from RM1.10 at end-2019.
Meanwhile, the company is also conducting share buy-back as well as cancellation of shares. In July, MyEG cancelled 12.5 million shares. Currently, MyEG has 142.18 million shares retained in treasury — equivalent to a stake of about 3.97%.
The company is now in the midst of a major corporate exercise that entails a reverse takeover of Ancom Logistics Bhd (ALB), another listed entity.
In mid-June, MyEG’s wholly-owned MyEG Capital Sdn Bhd bought a 10% stake in Labuan-based S5 Holdings Inc for RM90 million from Merrington Assets Ltd. The purchase consideration will be settled via a combination of RM75 million cash and the issuance of new shares worth RM15 million.
S5 is mainly involved in provision of security technology, intellectual property as well as development and customisation of solutions and systems. It is said to be a company to watch out for in the immigration technology space.
Around mid-July, it was announced that S5 was seeking a back-door listing via ALB.
ALB announced a proposal to take over S5 from S7 Holdings Sdn Bhd, Merrington Assets, MyEG Capital and Avocat Sdn Bhd at a price to be determined after an independent valuation is done. The acquisition will be settled via the issuance of ALB shares.
On completion of the reverse takeover, MyEG Capital is expected to be a substantial shareholder of ALB.
Prefer single stake as this NIIS is national interest and dealing with security. Myeg more to common services provider and their service to pay traffic summons already disable only can view and check. This tell you something. While IRIS has proprietary right to their product and services and world wide recognition.
One stop center is best for any new product development. If in a consortium, you need interfacing and cooperative interaction between parties to make things work seamlessly.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
port1111
270 posts
Posted by port1111 > 2020-09-17 14:15 | Report Abuse
All directors already buy, what more to wait hehehe. Join them