Coming Q result
1. Account 2 month domestic traffic hike

2. Continue full Q non domestic traffic hike

3. Account 2 month Electricity cost pass through 7sen/m3 water traffic hike to both domestic and non domestic water user.

4. Additional 50MLD Penang water consumption recorded

MyEG Services Bhd’s blockchain platform Zetrix has introduced its latest digital qualification platform that offers Chinese citizens the option to digitise their identification card and driving licence on a blockchain, which can be presented when travelling abroad. MyEG group managing director Wong Thean Soon said the service would begin by offering Chinese citizens the option to digitise their identification card or driving licence as a verified credential (VC) on Xinghuo International, China’s public blockchain international gateway.
How to commercialize these platform ?

https://www.youtube.com/watch?app=desktop&v=Xwy4o4q32wI

Zetrix's vision is clear: We see multi-chain and cross-chain linkages as fundamental pillars of the future blockchain ecosystem.

Our goal? 🎯 To create Interconnected Trust Networks, where value flows seamlessly across blockchains just like information does on the internet today.

What's our approach? Prioritizing interoperability for smooth transactions across various blockchain networks.

How? 🔑 By leveraging self-sovereign identity (SSI) and verifiable credentials (VC), we establish a "trustless" environment where actions are verifiable and tamper-proof.

Zetrix is seamlessly integrating SSI and VC technologies to lay the groundwork for a future where trust is not merely an expectation but a fundamental characteristic of the blockchain infrastructure. This strategic focus on interoperability and security underscores our commitment to revolutionising the blockchain landscape and fostering a culture of trust and transparency within the ecosystem.

It was highlighted that the landed price of goods, which is the total cost once they arrive in a country, is typically twice as much as the domestic wholesale prices where these goods originated. Half of this cost increase is due to two main factors: 20% results from freight charges, while the remaining 30% stems from complexities and delays during cross-border inspections.

But the complications do not end there. The white paper also noted the prevalence of fake or illicit items in global trade. Such counterfeit goods represent a staggering 6% or US$600 billion (RM2.78 trillion) of the entire world trade volume.

Furthermore, while border authorities face the immense task of checking sea containers, they can only inspect around 1% of these containers. Given this limited capacity, there's an alarming potential for losses from the under-declaration of goods, which might be exponentially higher than current estimates.

Additionally, in today's dynamic consumer market, there's a growing preference for sustainable products. People are more aware of their buying decisions, and want to ensure their products are ethically and sustainably produced.

As a result, tracing product origins has become crucial in trade as demand for the information increases, but with the existing manual tracking methods, it can be challenging for consumers to access this information.

Blockchain's immutable ledger system stands as the backbone of the digitalisation of the trade process, offering a secure, transparent, and efficient method for recording transactions and data, which is crucial for critical sectors like international trade,' says Wong Thean Soon, the group managing director of e-government services provider MyEG Services Bhd and a co-founder of Zetrix.

Zetrix, an initiative by MyEG Services Bhd, is a Layer 1 public blockchain infrastructure that aims to bridge economies with real-world use cases, integrating both blockchain and artificial intelligence (AI). Zetrix's cross-border trade service, ZTrade, was created to address traditional trade obstacles as mentioned above.

Equipped with blockchain, AI and smart contract technology, ZTrade is now already up and running, allowing essential trade documents to be uploaded on the Zetrix blockchain, and digitally connecting the Malaysian and Philippine trade markets with China.

Zetrix is taking steps to address the challenges mentioned, providing solutions to enhancing global trade. As Zetrix continues to grow and evolve, it seeks to become a key player in the broader adoption of digital solutions in international trade, hoping to make the process more accessible and streamlined for markets all around the world.

MyEG group managing director TS Wong said: “At MYEG, we are pleased that the advantages of deploying a Web3 + AI-based solution i.e. Ztrade in offering faster, secure, more intelligent and more cost-effective processing of cross-border trades are now also being recognised in the Philippines, besides in Malaysia and China. This includes the lodgment of certificates of origin as well as potentially other certificates relevant to cross-border trade like food safety, quarantine, and bill of lading, thus enabling all data to be available accurately in near real-time, hence, increasing the efficiency of tariff computation and customs clearance, especially for trade within the Regional Comprehensive Economic Partnership. We look forward to expanding this service to other nations as we continue pursuing our objective of deploying this pioneering solution, which leverages the power of Web3 and AI technology, across Association of Southeast Asian Nations (Asean) and the RCEP region

ZTrade is a platform that facilitates the export of goods to China by providing manufacturers and traders with green lane access. It operates by allowing users to upload their certificate of origin into the system. This certificate is an important document that verifies the country of origin of the goods being exported. By uploading this document, ZTrade aims to streamline the export process by ensuring that the necessary documentation is readily available for customs authorities in China.

Blockchain technology can enhance the authenticity and security of certificate of origin documents by providing an immutable and transparent record of their existence. By storing certificate data on a decentralised and tamper-proof blockchain, it ensures that the information remains unchanged and verifiable, increasing trust and reducing the risk of fraudulent or counterfeit certificates.

ZTrade is open to anyone from any country who is looking to export goods to China and wants to benefit from the green lane access. Currently, our pilot run is limited to companies registered with Malaysia’s SSM (Companies Commission of Malaysia). However, in the future, we plan to expand our services to accommodate users from other countries as well.

Ztrade
Gain access to an exhilarating world of opportunities with just a one-time payment of RMB 1400 for registration and platform access.

By uploading your certificate of origin (COO), you can gain green lane access for your exports to China
1 COO charge fee RMB 200
5 COO charge fee RMB 750

Ztrade currently already under pilot operating. It be become compulsory for all Asean exporter to China by 2025

:D)

Technology, Property, and Construction - Penang- Silicon Hub of ASEAN
https://klse.i3investor.com/web/blog/detail/rhbinvest/2024-05-09-story-h-181842088-Technology_Property_and_Construction_Penang_Silicon_Hub_of_ASEAN

Remark: Penang water consumption is expected to growth from 877MLD in 2023 to 1500MLD in 2030.

PBA revenue growth is compounded propel by both increase water sold + water traffic hike every 3 year review

Caution about Ranhill for risk of debt provision to Federal gov control PAAB

In April 2023, PAAB has notified Ranhill SAJ on the rejection of Ranhill SAJ application for moratorium on partial lease rental for 2022-2023.

Beside, PAAB, via letter dated 15 May 2023 inform Ranhill SAJ it will charge late payment intereswt on outstanding lease payment begin from 1 June 2023 at rate 6.65% pa

On 25 oct 2023, Ranhill SAJ received demand letter from PAAB in relation to partial lease rental for 2022-2023amounting to RM 95.1 m (Source: Ranhill annual report 2023, page 147)

In April 2023, PAAB has notified Ranhill SAJ on the rejection of Ranhill SAJ application for moratorium on partial lease rental for 2022-2023.

Beside, PAAB, via letter dated 15 May 2023 inform Ranhill SAJ it will charge late payment intereswt on outstanding lease payment begin from 1 June 2023 at rate 6.65% pa

On 25 oct 2023, Ranhill SAJ received demand letter from PAAB in relation to partial lease rental for 2022-2023amounting to RM 95.1 m (Source: Ranhill annual report 2023, page 147)

dragon328
All state now operates under assets light business model. All state water assets now transfer to Federal PAAB which in turn leaseback these water assets to state water operator like PBA, Ranhill SAJ. These state water operator are task to focus on operating these water treatment assets, pipeline, maintain and collect water traffic fee from customer to repay back lease to PAAB under 45 year leaseback arrangement.

Under 45 leaseback arrangement, PAAB charge interest 6% and incur escalating 2.5% fees on outstanding on state operator. The repayment amount varies dependent amount of water assets acquire by PAAB. For Penang, PAAB acquire assets total RM 660m, and PBA repayment is about RM 14.5 m pa since 2009. These repayment amount will increase if PPAB fund to require to built additional new water assets for Penang. The principal amount repayment PBA pay lease to PAAB have since increase to RM 16.5m pa.

Under arrangement, state operator have first right option to use its own fund to built additional water asset or secure fund from banking if their interest cost is less than PAAB. Therefore, PAB need increase water traffic to increase its profitability and cash to fund new water asset instead of solely rely on PAAB funding.

While PBA gradually stand firm financially with net cash position, another water operator Ranhill SAJ have seek moratorium from PAAB since 2021. It have since continued opt only partial lease rental to PAAB in 2022 and 2023 till now.

With less capex forward, PBA afford to opt much more higher cash dividend payout forward

While YTL is proxy to Navida A1 and data center, Vstec proxy to Amazon, these is only individual foreign companies beneficial to local stock. Myeg is direct beneficial to much wider scope as it involve entire country import goods and even higher if account to entire Asean 10 countries to ultimate enitre 15 RCEP countries in future

Perak penang water transfer have change from raw water to treated water. Therefore, PBA needless to built new water treatment plant to process raw water. These massive capex will alleviate PBA cash hoard forward. PBA only need to lay new pipeline to connect Perak water treatment plant to Penang mainland seberang prai, which free up existing PBA own water capacity to focus supply water to its island Penang.

With direct transfer treated water fro Perak instead of raw water, Penang water traffic will hike much more higher forward.

PBA, NTA is RM 2.89, price trade below NTA at RM 2.16 !?
Ranhill, NTA is 61sen, price trade double up above NTA at RM 1.40

China's exports and imports return to growth, signalling demand recovery

Myeg is Best proxy to China economy through its pioneer status as sole gateway, Ztrade, all goods import
Oversea to China

Penang has unveiled several crucial initiatives focused on strengthening the state's position as a global economic leader in three key sectors: trade, technology, and tourism.... More water needed....

Chow also revealed that the federal government has given the greenlight for the Kerian Integrated Green Industrial Park to supply surplus water from the park to Penang - - - - > source treated water fom Perak - - ->
higher Penang water traffic rate in next 3 year review

Among all listed companies in bursa, Myeg reap the HiGHEST profit margin above 62-65% and almost all it's profit attributed to shareholder as it enjoy LOWEST tax due to its business model enjoy tax incentives expecially with its new and strong growing blockchain technology - - - - - > zetrix

If coming Q EPS manage to deliver strongest EPS, then, it will pave way for IB to re-rate myeg to even higher target price based on forward annualize EPS, peg with fair historical PE 12x.

Assumption
if Q1 EPS deliver 2.5sen, annualize EPS = 10sen, Fair TP RM 1.20
if Q1 EPS deliver 3sen, annualize EPS = 12sen, Fair TP RM 1.44
If Q1 EPS deliver 3.5sen, annualize EPS = 14sen, Fair TP RM 1.68
If Q1 EPS deliver 4.0sen, annualize EPS = 16sen, Fair TP RM 1.92

Interesting to look how many EPF/KWP is selling today again. The faster these fund exit myeg below RM 1.00, the higher speed myeg to break RM 1.00 and breakout new high above RM 1.12 before coming Q release by end of these month.

With resumption of immigration service 15 jan 2024 + surging zetrix coin selling price from IEO USD 5 to USD 15 in Q1 2024, high odds myeg to deliver it highest record breaking EPS in coming Q result

Momentum to breakout RM 1.00 :D)

Aside mis interpretation between zetrix (independent listed cyrtocompany) and myeg (major shareholder for zetrix), many have also misconception on call warrant. Many IB issue call warrant, but many in fact didn't issue at all to public or issue only small fraction of intended call warrant. Call warrant issuance is NOT IPO, no underwriting...... Therefore, even call warrant near expire or in money, the degree of real impact on IB is actually base on real total number of its call warrant issue to general public during its entire lifespan period.

EPF, KWP ae active in trading myeg buy/sell in block deter myeg momentum movement. But, The real impact on zetrix contribution to myeg profitability will surface once next Q result release soon.

Based on Myeg last Q4 result, it hold about 13 million zetrix coin worth RM 300m (USD 5 / coin based on IEO issue price). Soley based on these 13 million zetrix coin alone, myeg stand on huge paper gain RM 1.11 billion or cash per share 15sen/share. Up to 250m zetrix coin will allocate to myeg in accord to vesting period on every 6 month till 3.5 year. But, Myeg will continue hold substantial stake in zetrix as future is highly promising if ztrade keep expand from Malaysia, to Asean and all RCEP countries.

Many seem confuse about zetrix and myeg.......... Zetrix is standalone cytocompany and it is just listed recently. Myeg on the other hand is founder, developer and major shareholder of zetrix.

Myeg entitle allocation up to 250m zetrix coin or 25% of zetrix intial coin to be issue. These 250m zetrix coin will be despatched to myeg within 3.5 year vesting period. Myeg will only staggering sell some of these zetrix coin. Myeg will still retain majority stake of its zetrix coin.

Zetrix aside allocation coin to founder and developer myeg, it will also sell coin to public purchaser in open market, allocate coin in accord to its blockchain platform network activity and validator nodes. Based on increasing demand of its blockchain platform for various network activity, such as Ztrade, z wallet, verifiable credential platform, staking platform etc, zetrix can increase coin issurannce up to maximum 2.1 billion coin in future.

Currently, the amount zetrix coin circulate 144m (alike stock issue capital), and these coin circulate is increasing everyday in accord to network activities, validator node, tranche allocation to developer, tranche allocation to management team, selling coin to public purchase etc (it is alike stock issue additional share through tranche of private placement, loan stock conversion, esos, share grant etc to enlarge stock share base as long as before hot maximum share lot issuance )

heading to breakout RM 1.00 resistance level soon

It is matter of battle between oversea fund vs. local EPF/KWP

Compared between PBA and RANHILL, PBA strategy is more focus on capex increase water treatment plant capacity to increase treated water supply to meet ever increasing Penang water consumption. Many penang land are consider heritage area, therefore, limit opex on pipe replacement effort.

On the other hand, RANHILL strategy is more focus on opex to aggressively pipe replacement, incur very high cost to meet targeted non revenue water%.

Dragon328
I expect much higher revenue increase than RM 100m as Penang water consumption just surge new high recently, and higher water consumption is at higher traffic band category at RM 2.07 per m3 which is increase RM1.37 per m3 hike compared to lower band category 50sen per m3 hike.

Increase revenue through traffic hike is direct increase profit earning. The surge in profit allow higher capital to fund capex such as increase water treatment capacity, built new water treatment plant to meet increase water demand which is expect to leap up by another 30% by 2030. The surge in water demand in turn increase higher revenue to PBA. It's win win cycle to generate additional positive cash flow. Of course new and additional water treatment assets subject to annual depreciation review

Note that Ztrade is one of the services to be launched on Zetrix and management guided that it could earn a fixed submission fee of RMB200 for each Certificate of Origin (CO) issued to facilitate the shipments to China through Ztrade. Hence, this could potentially generate additional revenue of around RM250mn per annum, considering close to 2mn of annual shipments from Malaysia to China alone, as per management guidance.

One Malaysia alone could potential reap revenue RM 250m, If Ztrade widely adpot to all Asean counties and further cover all RCEP countries, tremendous revenue recognition will boost myeg earning base significantly

Ztrade is now undergoing final administration formalities prior to the official launch in 2QFY24 likely in conjunction with welcoming Chinese Premier Li Qiang to Malaysia as countries mark 50 years of bilateral ties. Stay tune

Indonesia is available by these year 2024. Others on track to be ready by 2025 before Ztrade become mandatory for all export goods to china

Malaysia prepares to welcome Chinese Premier Li Qiang as countries mark 50 years of bilateral ties. MYEG’s Ztrade, which streamlines the export of goods to China and is slated for official launch in 2QFY24.It could mark commencement MYEG ZTrade cross border trade between China and Malaysia. This follows the agreement of the e-government service provider with China Customs’
wholly owned agency East Logistic-Link to jointly provide a full suite of cross-border trade facilitation services that include certificates of origin on the Zetrix blockchain platform

https://www.chinapress.com.my/20240502/%e5%80%aa%e5%8f%af%e6%95%8f%ef%bc%9a%e6%9c%9f%e5%be%85%e6%9d%8e%e5%bc%ba%e8%ae%bf%e9%a9%ac-%e5%ae%a3%e5%b8%83%e4%ba%88%e5%a4%a7%e9%a9%ac30%e5%a4%a9%e5%85%8d%e7%ad%be/

These additional RM 146.8 m pa due to domestic water traffic is to

1. Decrease water subsidy significantly
2. Opex - To cope higher operation cost such as pipe replacement
3. Capex - To fund expansion capacity on exiting water treatment capacity and to built new water treatment plant

Remark: The amount spend on Capex will NOT affect PBA profit margin, therefore, all water traffic hike will direct positive to bottom-line, increase profit margin directly. The profit earn then channel to fund capacity assets and built additional water treatment plant which will record as additional new assets to PBA.

Only amount spend on opex such as pipe replacement will affect PBA profit margin, the higher rate of old pipe replacement to new pipe translate directly to increase operation cost, therefore decrease profit margin from above water traffic hike

Based on PBA latest annual report, PBA bear subsidy RM 115.2m for Penang domestic water user. Management expect to decrease these subsidy significantly following 1 Feb water traffic hike.

There are total 593,255 domestic account and 461,350 consume < 35m3, while balance 131,905 consume > 35m3
Based on new water traffic,
1. domestic account water consumption < 35m3 charge 86sen, is 50sen hike per m3
Water bill increase 50sen x 35m3 = hike RM 17.5/account
Total domestic account 461,350 x RM 17.5 = RM 8.07 million/month

2. domestic account water consumption > 35m3 charge RM 2.07, is RM 1.39 hike per m3
Water bill increase 50sen x first 35m3 = hike RM 17.5/account
Water bill increase RM 1.39 x (35m3 - 45m3)= hike RM 13.9/account
Total domestic account 131,905 x (RM 17.6 + RM 13.9) = RM 4.15 million/month

In total water traffic hike impact RM 8.07 + RM 4.15 = RM 12.22 million per month or Quarterly hike RM 36.7 million or Hike RM 146.8m pa

Remark: To arrive above calculation，
1. assumption is make for maximum consumption up to 35m3 for those consume categori <35m3, by assume all consume 35m3
2. assumption is made for minimum consumption above 35m3 for those consume categori > 35m3 by assume all consume additional 10m3
3. assumption is made to exclude domestic bulk meter whom stay in high rise apartment in which bulk meter water traffic hike flat rate at 35sen m3 have increase significantly to charge flat rate RM 1.73 m3 (its massive hike RM 1.38 per m3)

Myeg new service, e testing, JPJ computerised test (KPP) Part 1
https://www.myeg.com.my/jpj-test-site

Myeg should make bursa announcement on full commercial launch of e testing to commence from April 2024 instead of announce it through latest annual report release today (annual report part 3, page 49)

the Group commenced the pilot phase of the MYEG Drive Testing System (“ MYDTS”) and following its successful implementation, JPJ subsequently gave the green light for the full commercial launch of automated driving tests, or e-Testing, to commence from April 2024. - - - - myeg latest annual report

remark: You all can see now under 星火国际 website https://bitfactory.cn/ Malaysia now is in pioneer status, myeg through zetrix is sole oversea platform link to China for incoming mandatory cross border trading using web3 b;ockchain technology which will likely commence by 31 May 2024 in conjunction to 50th China-Malaysia anniversary.

China 星火国际 https://bitfactory.cn/

推动“星火·链网”国际建设 服务跨境贸易高质量发展
海峡导报社
2024-04-22 22:28
海峡导报·4月22日讯（记者 黄奕琳 通讯员 苗亚辉）4月18日—19日，由中国信息通信研究院（以下简称“中国信通院”）主办的2024星火生态大会在厦门举办。作为大会的重要论坛， 4月18日下午，“星火国际ASTRON生态发展研讨会”在大会期间召开。研讨会为推动“星火·链网"国际ASTRON建设，打造星火跨境数据服务网络，围绕跨境贸易、双碳、跨境数据流动、DID与Web3等议题开展分享与研讨。

会上，作为“星火·链网”首个国际超级节点建设商，布比科技分享了企业在跨境贸易领域的探索与实践。据了解，“星火·链网”国际超级节点（马来西亚）是“星火·链网”的首个国际超级节点，由布比科技与MYEG集团共同合作建设和运营的，该节点借助布比科技先进的隐私保护和跨链技术，实现了国际超级节点（马来西亚）和星火·链网的打通，为中马之间商品追溯、身份验证、供应链金融等跨境贸易应用场景赋能。

“此前，两边海关的数据不相通，各国有各国的海关系统，现在利用区块链可以把两国的系统变成一本账，包括原产地证书，检验检疫等，极大地提高了两国贸易的通关效率”，布比科技产融业务负责人郭文静在采访中表示，布比科技利用区块链技术解决了跨境贸易场景中的实际问题。

当天研讨会上，中国信通院还与蒙古Mobicom集团、布比科技正式签订“星火·链网”国际（ASTRON）战略合作协议，将共同推进星火·链网国际超级节点在蒙古国的建设和本地化发展。

据悉，布比科技成立于2015年，是一家专注于区块链技术及产业场景应用的创新驱动型科技公司，也是国家级区块链新型基础设施“星火·链网”核心的骨干节点建设商和生态合作伙伴，过去两年上线及通过评审节点近20个，包含内蒙古包头、长沙经开区、重庆九龙坡等，覆盖众多应用场景。

sold at 75-75.5sen

cut at 45sen

sold at 1.42-1.43

added more mye at 91sen

added more at 1.88-1.98