For My EG Services Bhd (MyEG), investors may have to ignore the noises and focus on contracts that it has in hand, which will be a reflection of its earnings potential.
Despite the evolving political landscape, many of MyEG's e-government contracts have been renewed. Not just that, the company has also been given new contracts, for instance to operate the MySafeTravel for the Ministry of Health, which is a digital health pass system for incoming travellers from abroad.
It also runs a portal to help companies arrange for the subsidised Covid-19 tests for staff, both local and foreign. The company has carried out roughly 200,00 Covid-19 test screenings since the service was launched at end-June 2020 until October 2020.
It also offers new services for the Road Transport Department, such as online renewal of motorcycle insurance, road tax and driver's licence.
MyEG also made headlines for acquiring a 10% stake in S5 Holdings Inc, which was a contender for the RM1.8 billion National Integrated Immigration System contract. Subsequently, shareholders of S5 decided to seek a backdoor listing through Ancom Logistics Bhd.
MyEG is seen to be a victim of the changing political landscape. That said, given that its existing contracts with government agencies have been renewed, and new jobs granted, the company could be a counter to look out for in 2021.
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....
SonOfaGun
290 posts
Posted by SonOfaGun > 2020-12-29 12:29 | Report Abuse
Lol. Kingcobra. Not yet. Still holding. I'm looking at borneo oil berhad. Wait for it to drop to 0.025 n below. Whack 9 e!!