|
| |
Overview
Financial Highlight
HeadlinesBusiness Background MY E.G.Services Bhd, or MYEG, provides electronic government solutions and services in Malaysia. The company is primarily engaged in the development and implementation of the Electronic Government Services project, the provision of other related services, and investment holding. Electronic Government Services include the testing, issuance, and renewal of drivers’ licenses, renewal of vehicle road tax, vehicle ownership transfer, the renewal of foreign workers permits, bankruptcy status searches, and payment systems. The company also provides commercial offerings, such as insurance, credit and debit payment solutions, tracking systems, and telecommunications services.
  jayman https://www.thestar.com.my/business/business-news/2020/10/09/trading-ideas-top-glove-airasia-censof-myeg MyEG will provide the Ministry of Health an online payment system for inbound travellers to pay for Covid-19 screening and quarantine charges. 10/10/2020 9:24 AM Shadows This is going to be big boost for myeg in short and long term as all countries badly wanted to open up the sky. I like this company for continuous improvement in services and upper hand to win gov project. 12/10/2020 10:33 AM BetterNation Myeg have the chance to implement the same online payment system for Philippine for Covid-19 screening and quarantine charges since currently there is ready payment gateway in Myeg Philippine and they also work with Philippine government on tracing Covid. https://myeg.ph/ 12/10/2020 12:40 PM Atan311 CLSA maintains BUY rating , with a higher target price of RM2.00 (previously RM1.75). MYEG will be providing an online payment system for inbound travellers. This provides upselling opportunities for its Covid-19 testing business, while introducing new revenue streams in the form of hotel commissions (for quarantine) and meet and greet services. Thus, we raise our 20CL and 21CL earnings by 11% and 14%. While these requirements may be short-term in nature, the same platform can be utilised to deploy VLN (e-visa) services when borders reopen, which could raise our 21CL earnings by 8%. Online payment system for inbound travellers . The group received a letter of acceptance from the Ministry of Health to provide an online payment system for inbound travellers to register and make payments for Covid-19 screening tests and quarantine charges. The tenure of the project will be two years, effective from 1 November 2020. Upselling opportunities for Covid-19 testing and hotel commissions We estimate this new business to contribute RM12m in monthly net profit. This assumes 3k daily inbound travellers, an RM150 testing fee with two applications (once upon entry and once before leaving) and a 20% net margin. On top of this, we assume hotel commission fees (for quarantine) of 3%, a take-up rate of 50% (the alternative is government centres) and room-rates of RM250 per night (for 14 days). There is also an optional meet and greet service for RM800, with a target take-up rate of 5%. Raise earnings 11%-14%, but assumptions subject to change in requirements. Positively, while these requirements may be deemed short term, the same platform can be utilised to deploy VLN (e-visa) services when borders reopen, which could raise our 21CL earnings 8%. We retain our BUY on the stock with a higher target price of RM2.00 (from RM1.75). This is based on an unchanged target PE multiple of 24.5x and 21CL EPS. 13/10/2020 3:53 PM Joyce8439 Is anyone know, what does the dividend from Myeg means, with dividend re-investment plan? 14/10/2020 8:06 AM bowman Did you realise that PRDM no longer allows you to use MyEg to pay summons? There is one big chunk of business gone. How many will follow? I think this sorts of average out whatever it will be doing 14/10/2020 3:19 PM Atan311 CGS-CIMB reiterates Add with higher TP of RM2.10 We see the new MOH e-payment concession as a potential game changer for MyEG’s future earnings. We raise FY21-22F EPS by 7-10%. Reiterate Add, with a higher RM2.10 TP. Management highlighted that the recently awarded e-payment concession for Covid-19 test screening and quarantine management by the Ministry of Health (MOH) concession essentially forms an extension of its proposed Visa Luar Negara (VLN) project. Given the ongoing pandemic, the government is focusing on improving Covid-19 testing and quarantine management processes to contain imported Covid-19 cases and gradually move towards the re-opening of borders and post-pandemic travel to revive the tourism industry. This is a potential game changer for MyEG. Market research group Trading Economics is projecting tourist arrivals in Malaysia to fall by 55% yoy in 2020 to 12m, before recovering to 18.6m in 2021F and 24m in 2022F. In spite of attractive growth potential for MyEG, we think the service take-up will be dependent upon the border reopening timeline decision by the government. MyEG now has the opportunity to expand into the online travel agency (OTA) business, given its role as quarantine management aggregator for private facilities. The group expects to collect service fees of 3-5% as an OTA. We see this is an attractive new venture for MyEG, which could potentially replicate its model to upsell value-added services such as travel insurance for tourists. In addition, management sees potential in replicating its e-payment platform and quarantine management in other countries e.g. Philippines. Our sensitivity analysis indicates a potential RM93m-120m contribution to MyEG’s FY21- 22F revenue based on 1% of [Trading Economics’ projected] international tourist arrivals. While we see room for MyEG to capture a bigger share of tourist arrivals, we prefer to take a conservative estimate of tourist arrivals amid the uncertainty caused by the pandemic. Overall, we raise our FY21-22F EPS by 7-10%. Reiterate Add, with a higher RM2.10 TP, still based on 24x CY21F P/E, in line with its 5-year historical mean. 15/10/2020 9:21 AM KLLee_0110 Is time to hit the target price because COVID-19 will be coming as good news for myeg. 15/10/2020 9:59 AM wallstreetrookie MyEG top gainer/volume? Wait forever haha. Up 5% is a lot lor. If it breaks resistance RM1.5, it is going to limit up 15/10/2020 8:53 PM KLLee_0110 Today many people think myeg did not goes up due to recent movement always maintain the same. 16/10/2020 9:08 AM K0W3SE4 I think i doesnt goes up because give us chance to buy now before shoot up 16/10/2020 12:38 PM wallstreetrookie A good strategy would be to buy low at support below RM1.30 and allocate 40% to trading buy. Sell 40% at resistance. And keep the rest of 60% for long term. This isn’t rocket science and it is very easy to follow. 17/10/2020 2:16 PM wallstreetrookie Mahsing confirm goreng. No fundamentals to back up. Don’t go and buy 17/10/2020 2:17 PM Bunny69 This stock very stable, lets bet next month still can MAINTAIN this price or not 19/10/2020 6:14 PM  |
|
