Japan inched closer to allowing venture capital firms and other investment funds to hold digital assets directly, after Prime Minister Fumio Kishida’s administration approved the text of a bill on Feb. 16 that seeks to partially amend the country’s industrial competitiveness enhancement act. Kishida’s agenda for reinvigorating the economy includes support for the growth of so-called web3 firms, a term that refers to a future, decentralized version of the internet underpinned by blockchain technology. Compared to other regions Japan is viewed as having strict regulations for the digital-asset sector, but has moved toward easing some crypto rules in areas such as token listings and taxation.
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.
Recap!... According to DG Immigration, the entry of over two million foreign workers last year contributed to the RM3.31 billion earned from foreign worker levies. Anyone can do the maths on what is Myeg's earnings from Immigration services including insurance for next coming Qtr?...
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. 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. 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. — Blockchain platform lifts MyEG 4Q net profit by double, proposes 1.68 sen final dividend
Zetrix is now trading at 15.32 compared to USD11.82 one month ago. Buy on any dips as proposed Final Dividend is 1.78 cents per share,with a strong Balance Sheet & steady income from E-Services to Government, Myeg is well positioned to tap China's Growing market in 2024 & Malaysia Government's push for Digital Economy in which Myeg is one of the main beneficiary for E-Services in Malaysia & Ztrade Exports to China. Don't let EPF & Mr. Wong sapu all. That's why I want to repeat everyone has a chance to make profit as Patience has its virtues. Investing in Myeg has earned benefits such as: * Annual dividend income & dividend reinvestment plan for many long term investors * Capital appreciation for medium term holders and * A steady monthly income for short term & day traders Where else can you enjoy such benefits which is better than FD?
CGS Research: MY E.G. Services - Strong performance driven by token sales 4Q23 results exceeded expectations on stronger-than-expected revenues from the blockchain segment, largely due to Zetrix token sales. More blockchain-related services that may kick off in FY24F could drive MyEG’s EPS growth ahead, in our view. Reiterate Add with a GGM-derived TP of RM1.10.The stock is trading at 12.7x FY24F P/E, which is close to 1.s.d below its 5-year average of 17x.
today closing 0.805 ~ 0.810? tomorrow back to below 80 cent. good news no up, good QR also no up. look like the boss just focus on ZTX coin, more easy to push
Actually surprised that it didnt follow through the break 83. Results pretty good, new projects pretty good, management pretty good so whats up, market is saying 81 cents share price is pretty good already lol
1-for-1 bonus issue was in Sep'21. Adjusted for the bonus this means the current dividends declared is more than double the highest dividend ever paid. Is that right? Lazy to check through records just ripped off the data online hehe
Buy the dip! The higher the risks, the higher the returns. Don't just let EPF & Mr. Wong grab all as they are still accumulating. Myeg is now like a compressed spring. Opportunity only comes once in a Bluemoon. Why chase at High price later, when you can still Buy low while stocks lasts. Remember this is a politically linked counter, you help me, I help you in Malaysia Boleh!
THE CASE FOR MYEG's UPSIDE LOOKS GOOD! Here are my comments with regards to UOB Kayhian's write-up & TP for Myeg: 1. Zetrix sold 1.2M Zetrix coins at USD5 each during ICO on 28 October raising RM28.68M for Myeg. Please note that current circulating supply of Zetrix coins is 65.33M. With current market price of Zetrix coin at USD15.31 , it already raised more than RM4.5B for Myeg! ,Some of these income alteady reflected in Myeg account in current Qtr. & the coming Quarters. A big Final Dividend of 1.68ct per share has been proposed by Myeg as a big reward for shareholders' confidence & support! 2. Contract extension for Myeg E-Services for Immigration & JPJ already obtained & confirmed! 3. ICO & Listing of Zetrix token on 28 October already done at Coinstore, BitForex & MEXC. 4. Launching of Zetrade verification for exports to China & Cabinet endorsement for Digital Driving license etc 5. Building of Foreign Worker's Village in Penang & more development projects to come? 6. Currently running JPJ L- License pilot tests & will be awarded contract soon? 7. With Mandani Government support for Myeg's E-Services, Myeg should be able to achieve TP of RM1.18 & Bluesky TP of RM3.73 in the longer term since market is so bullish on Zetriz coin which is currently trading at USD11.31 or a 226% gain. Taking Myeg's cuurent price of RM0.795, a 226% gain will push Myeg's price above RM1.80!
RECOMMENDATION: Collect Myeg as much as possible on current weakness and we wait for the Big Pump from the Market & Foreign Funds!
Trying to understand digital assets of RM301mil in the Balance Sheet
By referring to the Cash Flow Statement, the digital assets were acquired via cash
Understandably that the digital assets are Zetrix Tokens by referring to Note B1: the Initial Exchange Offering (“IEO”) of Zetrix tokens on 3 major global digital asset exchanges.
The effects of Zetrix are reflected firmly and consistently in the book in recent 3 quarters:
The increase in Revenue of RM66.07 million (or 42.36%) and the increase in PAT of RM75.22 million (or more than 100%) was a result of: i) contribution from newly launch services from our Zetrix blockchain platform; ii) contribution from the sale of Zetrix tokens; and iii) the Initial Exchange Offering (“IEO”) of Zetrix tokens on 3 major global digital asset exchanges.
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
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....
CarolineTeoh
192 posts
Posted by CarolineTeoh > 2024-02-16 16:01 | Report Abuse
MYEG's Q4 result is out next week?