MyEG share price

MyEG Services Bhd gapped down on market opening to 65.5 sen on Tuesday (Feb 7), down 30 sen or 31.41% from last Friday's close, following news reports that ...

Downside risks to our view are unfavourable changes in the government policies, lower-than-expected financial performance, and weak adoption of MyEG’s Zetrix blockchain," it added. The loss of services, if reverted to the Immigration Department as planned, may impair MyEG’s long-term revenue (2025 and beyond) by about 20%." Affin Hwang Investment Bank said in a note on Tuesday that the news is negative for investor sentiment, and may affect MyEG's long-term earnings trajectory. "These immigration-related services include the renewal of foreign workers’ work permits (10-15% of total revenue) and other ancillary and commercial services, such as renewal of foreign workers’ insurance and foreign worker job matching (30-35%). It was the second most active stock in the morning after MyEG, which saw over 400 million shares done. It downgraded the stock to "hold" from "buy", and cut its 12-month target price for the stock to 93 sen from RM1.23.

Share price down 30 sen after announcement that immigration services and processes will revert to government's management.

Besides passport renewals and visa applications, applications and renewals of foreign worker and maid permits would be handled by the department when it rolled ...

Connection is secure Checking if the site connection is secure Occasionally, you may see this page while the site ensures that the connection is secure.

KUALA LUMPUR: MY E.G. Services Bhd (MyEG) tumbled 25.5 sen, or 26.7%, to 70 sen today with trading volume exceeding 1.01 billion shares as nervous inv...

Additional services such as insurance renewal and job matching services for foreign workers contributed about 30%. In a filing with Bursa Malaysia earlier, MyEG clarified that the company has not held any meeting with either the Ministry of Home Affairs or the Immigration Department of Malaysia on the plan to converge all immigration transactions under the NIISe. “In contrast, if immigration is unable to deploy the NIISe (National Integrated Immigration System) by 2025, this will provide a better outlook for MyEG as it will prolong the schedule for foreign workers’ work permit renewal services to return to the immigration department,” said the research firm in a note yesterday. “If the immigration services are transferred back to the immigration department as planned, it could potentially leave a negative impact on MyEG’s revenue in the long term, (with) lower potential net income by almost 20% after 2025. Earlier, Bursa Malaysia suspended the short-selling of MyEG shares for the rest of the day under proprietary day trading (PDT) and intraday short selling (IDSS) after its stock dropped more than 15 sen, or 15%, from the reference price. Services Bhd (MyEG) tumbled 25.5 sen, or 26.7%, to 70 sen today with trading volume exceeding 1.01 billion shares as nervous investors offloaded the company’s shares on reports that all immigration services and processes will be back fully under the Immigration Department’s management by 2025.

KUALA LUMPUR: MY E.G. Services Bhd (MyEG) tumbled 25.5 sen, or 26.7%, to 70 sen today with trading volume exceeding 1.01 billion shares as nervous inv...

Additional services such as insurance renewal and job matching services for foreign workers contributed about 30%. In a filing with Bursa Malaysia earlier, MyEG clarified that the company has not held any meeting with either the Ministry of Home Affairs or the Immigration Department of Malaysia on the plan to converge all immigration transactions under the NIISe. “In contrast, if immigration is unable to deploy the NIISe (National Integrated Immigration System) by 2025, this will provide a better outlook for MyEG as it will prolong the schedule for foreign workers’ work permit renewal services to return to the immigration department,” said the research firm in a note yesterday. “If the immigration services are transferred back to the immigration department as planned, it could potentially leave a negative impact on MyEG’s revenue in the long term, (with) lower potential net income by almost 20% after 2025. Earlier, Bursa Malaysia suspended the short-selling of MyEG shares for the rest of the day under proprietary day trading (PDT) and intraday short selling (IDSS) after its stock dropped more than 15 sen, or 15%, from the reference price. Services Bhd (MyEG) tumbled 25.5 sen, or 26.7%, to 70 sen today with trading volume exceeding 1.01 billion shares as nervous investors offloaded the company’s shares on reports that all immigration services and processes will be back fully under the Immigration Department’s management by 2025.