KUALA LUMPUR: MY E.G. Services Bhd (MyEG) has received a three-year contract extension from the Road Transport Department (JPJ) to provide vehicle registration services, driver and vehicle licensing and electronic payment of summon services.
MyEG and its wholly owned subsidiary MyEG Sdn Bhd had each received the letter of extension from JPJ yesterday.
The extension will commence from May 23, 2023 to May 22, 2026.
"The estimated total value of the extension will be dependent on the number of transactions performed over this period.
"An agreement to formalise the extension will be signed and announced by the company in due course," MyEG said in a filing to Bursa Malaysia.
MyEG 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 December 31, 2023 onwards.
The company does not foresee any risks in relation to the extension, at this point of time.
Two weeks ago, MyEG, which has received criticism for disruptions in its online immigration services, was granted a two-year extension to continue offering the service.
In a filing with Bursa Malaysia, MyEG said it received a letter of acceptance dated October 16, 2023 from the Home Affairs Ministry to extend the immigration related services for a period of two years.
However, as a requirement for the two-year extension, MyEG will have to complete a system enhancement before it starts offering the services again, it noted.
MyEG is expected to complete the system enhancement for its immigration-related services within a month.
