buy more!!!

"
After June 30, the services of third-party vendors appointed to oversee the program will be terminated.
"

Foreign rehiring to cease on June 30
Posted on 31 May 2018 - 08:52pm
sunbiz@thesundaily.com

Print
PETALING JAYA: The Ministry of Home Affairs will terminate the Immigration Department ’s foreign workers rehiring programme on June 30,2018.

Home Minister Tan Sri Muhyiddin Yassin said in a statement yesterday that between the period of Feb 15, 2016 and May 28 some 744,942 illegal immigrants and 83,919 employers were registered.

After June 30, the services of third-party vendors appointed to oversee the program will be terminated.

Employers and members of the public will liaise directly with the Immigration Department for all services pertaining to the employment of foreign workers.

The Immigration Department will take action on illegals foreign workers and employers who had not register their employees under the Rehiring program, after the deadline.

Apr 3, 2018 12:05 PM | Report Abuse

IF you sold at current price and you wont be able to buy at the same price by next month, if you don't buy at current price and you wont be able to buy at the same price as well by next month. from the current performance Myeg will keep going up. The more you worry, the more it will up.


Stock: [MYEG]: MY E.G.SERVICES BHD

Apr 3, 2018 11:56 AM | Report Abuse

Foreign fund sell, local fund buy even stronger, how can the price drop? Dow Jones drop more than 400 point yesterday but MYEG keep going up today. Everyone worry about GE14 but MYEG no worry at all.

---------------------

Someone say these before.
Let's guess who.

May must not be a good month for that person.
From his style of writing, we can presume he suffer a bad month.
1st the regime he supported strongly, defeated, a defeat never seen in the past 61 years.
Next his crony companies start to dive.

My advice to that particular user now is to WORRY MORE now.
Worry as much as you could ever imagine.
Based on this quote.
"The more you worry, the more it will up."

Who knows, it might help reverse the share price.

Valerian,
Would you mind share with us who did "other governments from other countries" you refer to?

Agreed to tecchie on the view that government should eventually run the service themselves.
Cronies should not be allowed to operate forever while enjoying lucrative profit margin ~50% at the expenses of both the gov and rakyat.

Yes.
there is NO other company providing similar service exist currently.
Why?
Because for the previous gov concern, only cronies are appointed.

As you mentioned, the reason to out-source some services are to prevent a bloated government servants.
What if for a system that already have lots of bloated government servants?
Would it make sense to at least fill them with some job?

mark share price today 29/5/2018 @ 0.76.
we'll see how it performs 6 months from now.
all the best for those who continues to believe in cronies denying the fact that we are moving towards a whole new cronies-free era for Malaysia

Justeru itu ujar Steven, kerajaan harus membatalkan lantikan MyEG untuk mengelakkan monopoli dan Jabatan Imigresen melaksanakan semula peranan mereka seperti sebelum ini.

“Kerajaan sepatutnya batalkan lantikan MyEG. Biarkan Jabatan Imigresen yang sediakan perkhidmatan atas talian, seperti yang mereka sediakan sebelum ini,” kata Steven.


"kontraktor yang tidak bertauliah dan bermasalah tanpa melalui proses tender terbuka."

Not my words.

2017 news.
not from the 2013-2015 era fyi

https://www.roketkini.com/2017/05/30/jabatan-imigresen-belanja-ratusan-juta-militan-daesh-tetap-lolos

Steven sebelum ini telah membangkitkan banyak isu membabitkan masalah sistem imigresen yang operasinya dipertanggungjawabkan kepada kontraktor yang tidak bertauliah dan bermasalah tanpa melalui proses tender terbuka.

Sebagai contoh, Laporan Ketua Audit pada April 2016 mendedahkan sistem atas talian MyEg telah melanggar undang-undang imgresen dengan membenarkan hampir 9,000 pekerja asing memperbaharui permit mereka secara haram dari 2013 hingga 2014.

if you say tun m can go along with myeg, yes i have no hard time believing tis story or assumption.

but you wan other parties like pkr or dap to go along supporting a cronies they fight against?
i don't think so.

benny, that's becausse after 2015 there are much more bigger issues compared to myeg cronies.
i.e. 1mdb.
and the opposition are pre-occupied with it.

tun m wants more ex umno members to join and strengthen his party in view that they holds only 13 seats.
other 2 parties have >40 to 50 seats.
but this stand is facing tremendous pressure from other parties in PH.
they know BN 2.0 or UMNO 2.0 is not the situation we would love to see.

so now he say whoever wanted to join bersatu, needs to leave umno, become an independent and declare their support towards PH. will then monitor their performance.

any decision will not be made solely by 1 man due to the coalition nature.
if they were to renew the monopoly contract.
ppl will think what's the difference btw the new gov with previous corrupted s**t?

Besides, on a political pov,
even you are close to tun m, where this is not the case, monopoly contract of unfair terms will not be renewed as well,
never forget, this is a coalition gov where PKR and DAP have the most seats.
Bersatu hav only 13 seats.

everything need to be discussed

so sue the government and bring it to court.
RM150m is not a small sum

i am so sorry to say this, temujin.
the new source of revenue stream is not going to materialize.
yes indeed they have huge capital investment, for GST system they have spent nearly ~150 million as to date.
(We have invested RM 150 million. We have more than 10 thousand dongles, probably close to 20 thousand.)
and they might consider claiming back this amount as compensation from the government once and for all.

Value RM ('000)
IT Terminals 3,057
Motor Vehicles 2,606
Office & Communication Equipment 41,482
Office Furniture 8,655
Computers 11,445
Software 1,286
Buildings 168,236
Capital Work-in-progress 112,684

For those whole claim myeg system is a multi-million dollars system.
Have a look at the valuation.

(Yes, it was a crony company)

No, it IS still a crony company.
once a crony, forever a crony.

The people don't need crony to survive.
Crony will tell you you need their service as middleman to survive.
Else you will need to q up.

But broaden your view and look globally.
Those countries that successfully implemented e-gov services, the government do it themselves.
This is evident from the link i share from HK, UK or even Indonesia.

Why Malaysia need a crony middleman in doing so?
Crony will proudly tell you they're needed as previously gov try to provide the service themselves but failed.
But is this the case?
Doubt so.

Currently, we don't have an alternative.
But we will have one soon.

Tryingtogetrich
Only the foreign worker renewal service the government pay them a fees (rm38 per person )and that is for them to not just renew the permit but also the maintain, analyse the list etc

Why on earth did the government need a 3rd party private company belongs to fallen cronies to help them "maintain, analyse the list" of sensitive info?

Even PKR and DAP voice up on 3rd party private company should NOT be allowed to handle sensitive info when those cronies are in power.

What then now?

http://www.freemalaysiatoday.com/category/bahasa/2015/01/13/kontrak-myeg-ancam-keselamatan-negara-pkr/

PETALING JAYA: PKR menyelar tindakan kerajaan yang memberikan kontrak pembaharuan Pas Lawatan Kerja Sementara (PLKS) berjumlah RM95 juta kepada syarikat swasta MyEG.

Ahli Parlimen Sungai Petani, Datuk Johari Abdul berkata, tindakan kerajaan akan menggugat keselamatan serta kadaulatan negara.

“MyEG secara jelas melibatkan maklumat sensitif yang menyentuh hal ehwal imigresen dan negara boleh berdepan dengan risiko kebocoran atau salah guna maklumat.

“Malah penjelasan yang diberi syarikat swasta tersebut kepada Bursa Malaysia bertarikh 9 Januari lalu, tugas MyEG‎ adalah termasuk menggubal, mengenal pasti, menyelenggara, mengemas kini serta menganalisa pangkalan data pekerja asing serta majikan di Malaysia,” katanya kepada media di Ibu Pejabat PKR.



Jelas beliau, MyEG juga ditugaskan mengumpul data biometrik digital supaya dapat mengesan majikan yang mempunyai bilangan pekerja asing yang ramai.

Sementara itu, ADUN Semambu, Lee Chean Chung turut mempersoal tindakan kerajaan membenarkan pembaharuan PLKS kepada syarikat swasta sehingga memaksa majikan membuat pembayaran sebanyak dua kali iaitu kepada Jabatan Imigresen dan kepada MyEG.

Katanya, pengendalian pembaharuan PLKS oleh MyEG merupakan satu bentuk monopoli yang menyebabkan majikan tidak mempunyai pilihan sehingga memaksa mereka membayar RM38 dan boleh meningkat sehingga RM58 sekiranya majikan tidak membeli insurans.

“Kami percaya amalan monopoli ini akan menjejaskan kepentingan pengguna dan orang awam dan tindakan tesebut jelas sekali melanggar Akta Persaingan 2010,” jelasnya.

Sehubungan itu PKR mendesak Menteri Dalam Negeri Datuk Seri Ahmad Zahid Hamidi supaya tampil memberi penjelasan dalam tempoh 24 jam sebelum pihak meraka membawa kes tersebut kepada Suruhanjaya Persaingan Malaysia (MyCC).

so.
PH government will definitely renew myeg contract after it expire in 2 years time.
and the share price will recover to its previous glory.
so buy on weakness

PKR hari ini mendedahkan syarikat MyEG yang dimiliki kroni Barisan Nasional (BN) mencatatkan keuntungan RM137 juta dalam tempoh dua minggu setelah Putrajaya melalui Menteri Dalam Negeri Datuk Seri Ahmad Zahid Hamidi menganugerahkan kontrak pembaharuan Pas Lawatan Kerja Sementara (PLKS).

Ahli Dewan Undangan Negeri Semambu Lee Chean Chung yang membidas Zahid yang masih membisu mengenai skandal tersebut berkata antara pemegang saham terbesar dalam syarikat swasta itu ialah bekas ketua penerangan Umno Pulau Pinang dan Timbalan Ketua Bahagian Umno Umno iaitu Datuk Raja Munir Shah.

Timbalan ketua penerangan Pemuda PKR itu berkata berdasarkan maklumat terkini Raja Munir menguasai 31.1% saham syarikat MyEG.

“Kenaikan harga saham MyEG sebanyak 19% beberapa hari ini memberikan keuntungan atas kertas sejumlah RM137 juta secara durian runtuh kepada Raj Munir,” katanya dalam satu kenyataan hari ini.
Lee berkata saham syarikat swasta itu di Bursa Saham Malaysia dilihat melonjak naik RM2.50 berbanding pada 2 Jun iaitu pada RM2.10 di mana penganugerahan kontrak itu memberi keuntungan 19% secara tidak langsung menyuntik permodalan pasaran RM463 juta kepada MyEG.

“Harga pasaran Bursa Malaysia meletakkan jangkaan keuntungan MyEG antara RM400 hingga RM500 juta di mana keuntungan tersebut bersandarkan beban dan kesengsaraan rakyat dan majikan secara keseluruhan,” katanya.

Khamis lalu PKR membuat aduan kepada Suruhanjaya Persaingan Malaysia (MyCC) selepas tamat tempoh 24 jam kepada Zahid agar menjawab persoalan mengenai monopoli syarikat MyEG.

https://www.malaysianreview.com/98874/kroni-bn-myeg-untung-rm137-juta-dalam-2-minggu-dakwa-pkr/

http://www.freemalaysiatoday.com/category/nation/2015/01/11/myeg-comes-under-fire-for-rm4-4b-it-will-collect-directly/

Theresa Kok

Old news but you should know their stand

as isupertrader stated:

MYEG even claimed previous government has "tried" to create a system like them but failed. That was the joke of the day but the joke wasn't on the new government rather old administration. The new government however will answer "wanna bet?"
----

don't need to say previous government failing to create an e-services.
They failed, not PH government

Temujin Noah;

Anything wrong for Myeg with high profit margin.?For a company that has major market share with increasing recurring revenue figure, the profit margin of above 50% is normal.How much profit margin do you think for company the like of Microsoft,Apple,Jobstreet.com etc.Go figure.
--------

It isn't wrong financially.

But it is wrong because the high profit margin is due to a monopoly contract awarded by previous government.
Yes they have major market share,
How they managed to get such massive market share?
Again, by such monopoly contract and preference from previous government of course.

Well, it's a shame to put those innovative companies you mention to be with the same line with cronies company.
A cronies will forever be a cronies.
No matter how you package yourself.

The rakyat is not blind.

And do you mind to answer me, why can't we do it when most government around the world is doing the e-service themselves? Why Malaysia need a middleman doing it and earn a 50% hefty profit margin while doing so?

bennyloke Don’t u think 400m is still too high? Why not 40m? Should tell people here early when it was 10b market cap before election. What are the big funds doing? They were holding something that’s 25x overvalued. Lol.
---------------------

Yes.
It makes every sense to buy it before election.

The PE could be as high as you name it as the prospect is bright and promising.
This is what investor wants, the prospect, the future.
They was the SOLE gov e-service provider back then.

BUT, situation is no longer the same now.
The people successfully shown their power in the GE 14.

the previous gov goes, so does CRONIES.

those saying government e-services NEED to be done by myeg.
and government is just incompetent of doing so.
it's nothing wrong to say so in the past 61 years.
but situation is no longer the same.

Broaden your view.
Most countries government are providing the services themselves.
Take a look of some example of how it could be done for renewal of driving license.

Hong Kong

https://eapps2.td.gov.hk/odlr/odlr_ext_web/Welcome.do?language=en&country=US

https://www.gov.hk/en/about/aboutus.htm

UK

https://motoring.direct.gov.uk/service/DvoConsumer.portal?_nfpb=true&_pageLabel=PRN&_nfls=false


Indonesia

Surat Izin Mengemudi (SIM)
http://sim.korlantas.polri.go.id

Do you think it's a norm to have a single EXTERNAL COMPANY managing all government e-services.

can someone enlighten me how much does a single website does it all e-services infrastructure cost?

its humorous to see some compare myeg to the like of amazon.

myeg? come on!!
admit it, its just a website, probably with some network of offices across malaysia plus some Undang driving license test facility.

they can't survive without government support.

at least Iris is better then them in terms of innovation.
Iris did invent e-passport.

noobbie: if new gov develop new system to replace myeg just because of hatred and different political view, it will become a negative sentiment for every business sector in Malaysia
-----------

noobbie i hope you could differentiate the projects/arrangements/contracts to fat the cronies and cronies alone.
and this company is an obvious one.

this is clear from the net profit margin of about ~50%.

its not about hatred or diffirent political view,
its about bringing back the profits that supposedly belongs to the government,
and NOT the cronies and at the same time reducing the burden of the rakyat.

Imagine this situation,
if the new government were to take over all myeg services, appoint some experience parties to help setting up the system (and let government manage the system themselves).

They can reduce the service charge by 50%. (savings to rakyat) and yet earn another 50% of profits which initially belongs to the cronies.

the only reason they are here is because of 'Be eNd' and now its really the end.


After all,
a 3rd party private company belongs to the opposition party leader is NOT SUPPOSEDLY allowed to handle such huge amounts of sensitive personal data.

and if you did experience e-government system from some other developed countries.
you know how is the user experience of myeg like and how is their system like.

a system, no matter how good it is, can always be replaced.
not to mention a website as in the case of myeg.

even the vendor supplying whole e-passport and myKad can be replaced.
eg. the case of IRIS and DSONIC.

when vendor supplying such high tech stuff can be replaced, i don't see why not for a mere website?

did you ever think of this, how did IRIS loses all its e-passport and MyKAD contract to DSONIC??
when you see even the airport imigresen clearance auto gate is manufactured by IRIS.

CRONIES BOLEH too!!

PH government had stated they will take whatever way to increase government earnings.
myeg contract still have another 1 to 2 years to go or so.
so 1 thing is certain, it will not be renewed.

down the road, PH government will definitely develop their own website to take over these services.

how expensive or tedious can be it to develop and run a website?
we know it can be done, just the previous government poor execution power make it failed.

and on a political POV, i don't see any reason why PH government would love to feed a 30% UMNO senator owned company with new contracts, unless they are equally corrupted as well.
(politician of course)

they're hosting a buka puasa dinner in collaboration with some organisation where tun m is chairman so to begging tun m attend.
we'll see.

look at the speed the new gov implement new measures.
you can see SPAD, Pemandu, Jasa and MPN being abolished in a snap of fingers.

LTH chairman being raided with 500k cash in his home.

More is coming.
Myeg is on the q.

look at what Tony Pua (MP of DAP) says about the method to abolish toll.
the gov seem don't need to pay a lot of compensation after all.
no wonder LGE dare to says he will abolish penang bridge toll.

https://www.youtube.com/watch?v=DMvQuCkgqhk

if you look at the majority shareholders (holds ~30% shares) other than the MD.
we can know who is actually behind the company and where this company is heading to.

after go thru various forums held inviting all sorts of personnel, political linked or independent in this few days,
i don't think that the new PH gov will continue to feed previous gov cronies with renewal of contracts.

1 of the reason is on a political pov.
feeding cronies with new contracts are just like giving your opponent bullets to fight back.
as you can expect where the earnings will be channeled to.
5 years later, you are certain that these bullets will be used against you in the GE.

yes business will goes on as usual for this company.
but don't think that the contract will be renewed once it is expired.
and bad for myeg, all contracts are of short term.

without contracts from the gov, this company is nothing more of a website.

some may argue the government need e-services provider.
yes indeed, that's the trend.

but as we know PH gov emphasize on efficiency & transparency evident in Penang and Selangor.

upcoming gov e-services is feasible to be done by government itself.
some may argue that the gov failed to do so in the past.
but do take note its BN gov that failed, not our new PH gov.

Tun M did mention on the massive amount of civil servants, and state there will plan to rectify the issue by transferring them to private sector.

So we can't rule out the possibility that there will be a GLC company in future managing e-services to increase productivity of salary paid to civil servants.

Even on a best case scenario, gov did not intend to take manage the e-services.
e-services will be awarded through an open tender, of which the price will be very competitive in view of the low requirement needed to provide the service and the net profit margin will definitely will not be as high as ~50%.

conclusion,
the lucrative contract will definitely NOT be renewed like it used to be.

if you look at the majority shareholders (holds ~30% shares) other than the MD.
we can know who is actually behind the company and where this company is heading to.

after go thru various forums held inviting all sorts of personnel, political linked or independent in this few days,
i don't think that the new PH gov will continue to feed previous gov cronies with renewal of contracts.

1 of the reason is on a political pov.
feeding cronies with new contracts are just like giving your opponent bullets to fight back.
as you can expect where the earnings will be channeled to.
5 years later, you are certain that these bullets will be used against you in the GE.

yes business will goes on as usual for this company.
but don't think that the contract will be renewed once it is expired.
and bad for myeg, all contracts are of short term.

without contracts from the gov, this company is nothing more of a website.

some may argue the government need e-services provider.
yes indeed, that's the trend.

but as we know PH gov emphasize on efficiency & transparency evident in Penang and Selangor.

upcoming gov e-services is feasible to be done by government itself.
some may argue that the gov failed to do so in the past.
but do take note its BN gov that failed, not our new PH gov.

Tun M did mention on the massive amount of civil servants, and state there will plan to rectify the issue by transferring them to private sector.

So we can't rule out the possibility that there will be a GLC company in future managing e-services to increase productivity of salary paid to civil servants.

Even on a best case scenario, gov did not intend to take manage the e-services.
e-services will be awarded through an open tender, of which the price will be very competitive in view of the low requirement needed to provide the service and the net profit margin will definitely will not be as high as ~50%.

conclusion,
the lucrative contract will definitely NOT be renewed like it used to be.

Kerajaan Pakatan Harapan akan mengkaji semula semua perjanjian konsesi lebuhraya. kami akan berunding untuk mendapatkan harga yang terbaik untuk mengambil alih setiap konsesi tol dengan matlamat akhir untuk menghapuskan kutipan tol secara berperingkat.

The net revaluation surplus of RM8,981,000, after deducting deferred tax of RM2,836,000, has
been incorporated in the unaudited interim financial results of the Sasbadi Holdings Group for
the period ended 28 February 2018.

Net Gain from revaluation = RM6,145,000.
Latest QR Net profit RM4,933 ,000.

Excluding one off gain.

Is SASBADI still making profit??

klclking flood at timber industry project site...
but the revenue increased 158,065,831, it's a good sign if compare to the previous years... just buy and keep

-------------

Get your facts straight please.

If you consider it's a good sign that revenue increased a mere RM1k in this latest 3 months.
which is RM333.33 revenue PER MONTH for a listed company that do a rights issue of millions for the construction segment

There is no contribution from construction division in the current quarter due to slow progress of construction work at site as a result of changes made by customer from the original design, labour shortage and flood at project site during the raining season.

When they mean NO CONTRIBUTION, they did mean NO CONTRIBUTION.
The total revenue from construction for this QR is a mere RM1k.

You think you playing kids mamasak is it?
This is NOT slow progress, this is NO PROGRESS!

This means the project is HALTED!!

No wonder the old auditor and 2 executive director will cabut.

Also, nxt time just put 1 reason instead of 3 to make it look more realistic, 3 is simply too much.
We don't know which reason to believe in.

1) changes made by customer from the original design
2) labour shortage
3) flood at project site during the raining season.


Bursa, SC and MSWG should look into this!!

I was wondering how is it possible to make a such huge turnaround.
And after some digging, the results come out!!

Profit RM24m
Compensation received from a customer * RM59.7m
So don't count this one off compensation = (RM35m)

* Compensation amount comprised mainly the agreed payment of damages/ liquidated damages by a customer who failed to load minimum order quantity of solar cells to TS
Solartech Sdn. Bhd., a subsidiary of the Company pursuant to the terms and conditions of a manufacturing and supply of solar cell contract dated 8 October 2015 between TS
Solartech Sdn. Bhd. and the said customer.

What i can say is their appetite is way too big..
This is how a lot of companies when burst during 1997 crisis

Market Cap: 114 Million
The bloody mill: 119 Million

EdwinS3 no it is NOT enough to cover.
They need to finance it through bank borrowings.
So upon the completion of the mill, you have a company with low cash pile and increased bank borrowings.

*It is a shocking to see the market cap of the entire company is lesser than a single bloody mill !!

with a market cap of RM131m.
the fabric mill is almost the price of the entire company...
which is unbelievable....

do notice the latest qr is negative cash flow and compare their cash on hand compared with previous year qr.

if one knows the upcoming qr result is bad, he or she with a sound mind would reduce his or her position waiting for price correction after qr released.

dolly.
as you can see my previous comment.
none of it is personal.

we are just discussing an issue.
agree or against the point.
no point to get personal on it and calling others 'foolish' as that Jon did.

as for the management's decision.

don't think its the right thing to used up all your cash to set up a mill that will generate loss in the short term.

long term yes the mill might benefit them, but with such massive capex invested, used up all cash and near term negative factors eg strengthening of RM, UA sales drop etc.
are you sure you can survive the short term in order to achieve the long term benefit?

My stand is
The management should start small and slowly scale up.

Is the management supposed to expand as per how much the business can take it, or as per how much some random people say your company is worth?
--------

If you are there during the 1997 crisis.
Many companies go burst due to this situation.
the management making maximum leverage to expand as per how much the business can take it.

Do you feel comfortable when a management used up most of its hard cash conserved over the years plus maybe made some debts along the process for a garment factory which is ~75% of the company's market cap or 55% of BV if you say market is inefficient wrongly priced your darling Prlexus ?

Jon Choivo The fact that a company that is building a RM119 garment factory is valued at only 160m.

Is that an error of the market or the error of the management.

Is the management supposed to expand as per how much the business can take it, or as per how much some random people say your company is worth?

Don't be foolish.
------------


Jon Choivo.

We know your mood is bad plus frustrated as your counter keep breaking record making new 52 weeks low. Since you had easily lose >30% in this company.

Does cursing others make your feelings any better?

Next time, have a cut loss plan when investing to avoid issue like this instead of cursing others.

Be a man and bear your loss yourself.

If not, Shame on you!

I am once a supporter of Prlexus and had sold all my position making when it trigger my cut loss point, totalling around ~10% loss.

You can cut loss anytime when the situation is not right.

where is the external auditor????