Posted by hng33 > 1 day ago | Report Abuse

Even after stripping fair value gain from heitech, myeg continues deliver increase higher quarterly net profit, mark consecutively Q to Q growth

Posted by hng33 > 1 day ago | Report Abuse

Expect next Q will deliver even higher profit as zetrix selling price surge another record high in Q4

Posted by Invest23 > 1 day ago | Report Abuse

These are very normal quarter results. There was no huge growth for its Zetrix service, especially since ZTrade launched. Zetrix's revenue went from RM82.765 million in Q2 to RM84 million this quarter.

This quarter PAT has a one-time gain from HTPADU. After being excluded, the PAT in this quarter amounted to RM170.36 Million, compared to RM165.34 Million in Q2.

Posted by hng33 > 1 day ago | Report Abuse

Zetrix selling is lower in Q3 (average around USD 16.5) if compared to Q2 which average around USD 17.5.

The exchange rate is also much weakness in USD in Q3 if compared to Q2

In coming Q4 will record much stronger profit as zetrix
price surge more than 25% to record USD 20.5

Posted by Invest23 > 23 hours ago | Report Abuse

I agree that the result of Q4 will be stronger, but I don't agree with the number of token sales, because I found that the total of supply tokens is not directly equal to the sale of tokens. If the 200 million in token sales is true, I believe that MYEG's profit will be multi-million in every quarter and not just around a million. Besides, I saw on the circulating supply, whitepaper and the schedule of Zetrix, that they mentioned that the total supply is not just coming from private or public sales.

https://support.coinmarketcap.com/hc/en-us/articles/360043396252-Supply-Circulating-Total-Max-
https://docs.zetrix.com/zetrix-whitepaper/

Posted by hhhiii123 > 23 hours ago | Report Abuse

just hold and ignore all kind of random movement, the counter will rocket one day

Posted by abidinaa > 22 hours ago | Report Abuse

That's exactly what I'm waiting for. The day it will rocket to Infinity and Beyond.

Posted by sheldon > 22 hours ago | Report Abuse

So will the counter fly tom?

Posted by Tryingtogetrich > 21 hours ago | Report Abuse

Invest23 … where did u get the zetrix revenue figure of 84 million for this quarter ?

Posted by Sweetchocalates > 21 hours ago | Report Abuse

why the qr report is so fishy. almost every quarter profit margin is so high and consistently up but cash flow so low have to rely on sukuk lol. I dont know myeg business much. any long term myeg investor come explain.

Posted by AllIsVanity > 21 hours ago | Report Abuse

Ground Control to Major Tom
Ground Control to Major Tom
Take your protein pills and put your helmet on
Ground Control to Major Tom (ten, nine, eight, seven, six)
Commencing countdown, engines on (five, four, three, two)
Check ignition and may God's love be with you (one, lift off)

Posted by hng33 > 20 hours ago | Report Abuse

Every quarter, myeg is adding almost RM 150m - RM 200m as development cost to built zetrix platform by adding more new services. Aside zetrix platform, myeg also develop foreign worker accommodation in Penang, Johor, and Selangor to increase multifold from current capacity 800 beds to 24k-30k beds equipped with full facilities and comply gov standard.

Myeg in fact is in expanding mode, leverage up sukuk and cash flow from operation to sophisticated zetrix platform, expand zetrix to Asean and RCEP countries as well as in the midst building multifold foreign worker accommodation to reap recurring profit once completed. Myeg is turnning cash into cash generating assets.

Myeg is also adding capax every quarter to commence new JPJ E-testing. Next, partnership myeg to heitech on all it's gov service, like RM 830m NIISE will generate higher revenue forward.

Posted by Sweetchocalates > 20 hours ago | Report Abuse

@hng33 thanks bro for the summary.

Posted by Noni > 13 hours ago | Report Abuse

This is like Amazon

Posted by hng33 > 11 hours ago | Report Abuse

https://www.marc.com.my/rating-announcements/marc-ratings-affirms-myegs-aa-is-rating/
MARC Ratings has affirmed its rating of AA-IS with a stable outlook on MY E.G. Services Berhad’s (MYEG) Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion in nominal value.

MARC Ratings notes positively the group’s ability to diversify its revenue base by expanding its non-concession businesses. Apart from fees generated from insurance renewals and foreign worker recruitment, the group also receives rental income from providing accommodation for foreign workers. Construction of additional foreign worker hostels is expected to commence in 1Q2024 — two in Johor (Tanjung Langsat and Muar), two in Selangor (Sungai Buloh and Rawang) and one in Penang (Batu Kawan). These hostels would accommodate about 30,000 workers and add to the existing two foreign worker hostels in Selangor and Melaka, each housing around 400 workers

Posted by Invest23 > 11 hours ago | Report Abuse

Tryingtogetrich. You may refer to the quarter report section - A8—segmental Information.

Posted by abidinaa > 9 hours ago | Report Abuse

I gibab la. Too many shares in the sucker bilis hands. It's going nowhere. I take 4.5k duit kopi only.

Posted by abidinaa > 9 hours ago | Report Abuse

And too many shorties kacau.

Posted by stevenckheng > 9 hours ago | Report Abuse

MYEG still got what core business? Our government launching their own apps and sop to reduce the reliance on the third party.

Posted by CarolineTeoh > 8 hours ago | Report Abuse

Today we are fighting the shorties ? 😃

Posted by hng33 > 8 hours ago | Report Abuse

Zetrix price continue on uptrend
https://coinmarketcap.com/currencies/zetrix/

Posted by fair2play > 6 hours ago | Report Abuse

MYEG should have adjusted to RM1, the least, on opening bell, given the super charge Bitcoin and other crypto token or ETF in the world now. But, its climb is half dead. The old and self serving system must change. Reward good results. Punish bad results. That is how USA stock markets work and its people become prosperous and happy. Be open minded when seeing old aunties uncles, unemployed ones can make pocket money from stocks for living

Posted by fair2play > 6 hours ago | Report Abuse

...We just have to be extra patience for next 1 to 2 days more. I will sell off and get out . USA stocks are more interesting and predictable.

Posted by hng33 > 5 hours ago | Report Abuse

https://www.thestar.com.my/business/business-news/2024/04/24/myeg-zetrix-and-maicapital-to-explore-launch-of-virtual-asset-funds

MYEG and Zetrix said they had inked a memorandum of understanding (MoU) to issue a Securities and Futures Commission of Hong Kong (SFC) approved ETF, which would consist of a basket of cryptocurrencies such as Bitcoin and Zetrix, and potentially other suitable cryptocurrencies.

"The collaboration aims to provide investors with additional avenues for diversification across multiple cryptocurrencies, thereby helping to mitigate the risks and nd volatility associated with owning a single cryptocurrency," said MYEG managing director TS Wong.

Remark: with zetric price uptrending, it is right time to list zetrix ETF soon

Posted by AllIsVanity > 4 hours ago | Report Abuse

三年之後又三年, 三年之後又三年！十年都嚟緊頭啦老細！

Rocket launch failed again, wait for next quarters.

Posted by icecool > 4 hours ago | Report Abuse

every time myeg go up all the haters will pop out of their cave and talk shit.

Posted by Tenka226 > 3 hours ago | Report Abuse

Excellent Q3 performance. MYEG is supposed to be above RM1 now

Posted by hng33 > 3 hours ago | Report Abuse

Of course have to hold for next Q4 result as Zetrix price have significantly surge about 30% since Q3 from average USD 16.5 to current USD 21.2.

Currently, Zetrix and its platform service contribute 35% myeg revenue and 50% myeg profit. The discrepancy of zetrix contribution in turn of revenue and profit% is because myeg reap about 85% profit margin on zetrix, much higher than Malaysia concession business margin at around 60%.

Hence, with Zetix price now continue uptrend, next coming Q4 will stand to increase even higher profit margin of more than 90%