Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the earlier announcements dated 5 January 2017, 22 May 2020 and 1 July 2020. 

The Board of Directors of MYEG (“the Board”) wishes to announce that on 7 July 2023, MYEG has received a notification letter dated 4 July 2023 from the Ministry of Home Affairs to confirm that the Ministry of Finance has approved for MYEG to be appointed as the collection agent for the Government revenue and to extend its role as the provider of online services for the Immigration Department of Malaysia (“the Extension”).   

The terms of the Extension will be finalised pursuant to further discussion with the Government in due course and an agreement to formalise the Extension will be signed at a later stage. 

The Board is of view that the Extension is in the best interest of the Company and is expected to contribute positively to the earnings and net assets per share of the Company for the financial years ending 31 December 2023 onwards. 

At this point in time, the Board does not foresee any risks in relation to Extension. 

The Board wishes to express its heartfelt gratitude to the Government for the Extension. 

None of the Directors and/or major shareholders and persons connected with a Director and/or major shareholder has any interest, direct or indirect in relation to the Extension. 

The Board will release the necessary announcements in a timely manner to Bursa Malaysia Securities Berhad for subsequent development on the Extension should there be material information which falls under the Main Market Listing Requirements.

This announcement is dated 7 July 2023.