(MYEG MK /HOLD/RM2.22/Target: RM2.29)

Leveraging on its success as the country’s leading e-service provider serving both the government and businesses/citizens, MYEG has enormous potential to capture a wide spectrum of foreign workers-related businesses. Key catalysts include the foreign worker amnesty programme, provision of accommodation and remittance services and the GST monitoring system. This should ensure 31.5% earnings CAGR for FY17-19. Initiate coverage with HOLD and target price of RM2.29. Entry price: RM2.06.

Source: UOB Kay Hian Research - 25 May 2017