MY E.G. Services Berhad ("MYEG" or the "Company")
- Clarification in respect of the article entitled "MYEG touches new high" published on 3 January 2014 in Business Times ("the Article")
- Clarification in respect of the news, Bulletin Utama which was aired on TV3 on 5 January 2014 at 8.00 p.m.
The Board of Directors of MYEG ("The Board") wishes to clarify the following statements that had appeared in the Article and the airing of the TV3 news on 5 January 2014, as follows:
1. "GOVERNMENT-OWNED technological services provider My E.G. Services Bhd's (MYEG) stock, which has been on an uptrend after securing government contracts, has jumped yet again on news of a new computer system being tested by the Customs Department." (source : The Article on 3 January 2014)
2. "MYEG shares yesterday traded at record levels after Customs director-general Datuk Sri Khazali Ahmad on Wednesday said the computer system, known as MyGST (to facilitate implementation of the goods and services tax), is being tested and will be distributed to 300,000 traders nationwide." (source : The Article on 3 January 2014)
3. "The system, which costs some RM100 million, includes a back-up should the primary MyGST system fail." (source : The Article on 3 January 2014)
4. "MYEG Bakal Terima Kontrak Pengutipan Cukai Jualan Kerajaan" (source: news, Bulletin Utama which was aired on TV3 on 5 January 2014 at 8.00 p.m.)
The Board wishes to clarify that MYEG is a public listed entity and is not a Government-Owned technological services provider as stated in the Article. MYEG's substantial shareholders include Asia Internet Holdings Sdn Bhd and Asia Internet E-Services Holdings Sdn Bhd (which in turn are not government owned companies), Utilico Emerging Markets Limited and Mawer Investment Management Ltd. Nevertheless, certain government funds have invested in the company but their stake comprise of less than 2% of MYEG's outstanding shares in total.
The Board wishes to clarify that the computer system MyGST refers to a wholistic new system which the Royal Malaysian Customs Department ("Customs") is testing to facilitate the implementation of the goods and services tax ("GST") by 1 April 2015. There are a few parties involved in the various components of this system of which MYEG via its 40% owned associate company, MY EG Integrated Networks Sdn Bhd ("MINT"), is one of these parties. As of to date, MYEG has not entered into any legally binding agreement with the Customs.
MYEG will release public announcement should any award of contract be received from the Customs, which is expected to have a material effect on the price, value or market activity of the Company's shares, in accordance with the Company's Corporate Disclosure Policy and Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
The Board wishes to further clarify that it had not, to the best of its knowledge, provided any information to Business Times in respect of the Article or to TV3 in respect of the news aired on 5 January 2014.
My E.G. Services Berhad is an investment holding company. The Company is principally engaged in the development and implementation of the electronic government services project and the provision of other upstream and downstream related services for the electronic government services project. It builds, operates, and owns the electronic channel to deliver services from various government agencies to Malaysian citizens and businesses. The Company offers online delivery of government services to a variety of commercial offerings in the areas of immigration, automotive, healthcare, and financial services, among others. It provides a range of services, including payment of compound, summons, and assessment; auto financing; auto insurance; blockchain identity, verifiable credentials and blockchain-based agreement signing; insolvency search; payroll management; personal and business financing; renewal of foreign workerâs permit, remittance, and renewal of road tax.
MY E.G. SERVICES 
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