Posted by mf > 2020-07-01 21:35 | Report Abuse

https://www.theedgemarkets.com/article/myeg-receives-threeyear-extension-provide-foreign-worker-employment-pass-online-renewal

Posted by icst1975 > 2020-07-01 21:38 | Report Abuse

Reference to IvakaWong: " Previous contract for PLKS around RM 250 mil per year, new contract is only RM 208 mil for three years? That is around rm 70 mil revenue only for one year. The revenue will reduce by Rm 180 mil a year? If 40% margin , PAT will reduce by RM 72 mil a year?
May be there is typo error in the announcement? Should be RM 208 mil a year?"

My estimations as follows.
Only about 20% of MYEG annual revenue comes from government concession-related businesses service fees paid by government or more specifically, the online renewal of road tax, foreign workers’ work permit renewal and their rehiring programme.

Over the past 2 years, MYEG total revenue were about RM240 m per year. So government concession-related businesses service fees paid by government would amount to about RM48m per year.

So RM208m for 3 yrs is about RM69m per year for immigration related fees. This represents a substantial increase from RM48m per year from Immigration department and Road transport department. This is good news.

Posted by Kenzo8 > 2020-07-01 21:44 | Report Abuse

Congrats everyone! So roughly when is the ex date?

Posted by witan > 2020-07-01 21:51 | Report Abuse

Congratz to those who have hold and ignore the -ve noises in the forum lol. RM2 coming soon!!

Posted by investortrader88 > 2020-07-01 21:53 | Report Abuse

https://www.theedgemarkets.com/article/myeg-receives-threeyear-extension-provide-foreign-worker-employment-pass-online-renewal

Posted by investortrader88 > 2020-07-01 21:55 | Report Abuse

TP : RM 2 coming !

Posted by the_red_bear > 2020-07-01 21:56 | Report Abuse

BACK TO 1.20 SOON... OVER BOUGHTTTT

Posted by witan > 2020-07-01 22:00 | Report Abuse

Wondering what happened to these guys with their so called reliable sources: stocksyndicate, EmperorFund, EDINVESTOR

Posted by Kenzo8 > 2020-07-01 22:01 | Report Abuse

wow u guys really dream big, i was thinking to TP 1.6 like tat only. looks like i have to enlarge my dream a bit too lol

Posted by witan > 2020-07-01 22:04 | Report Abuse

@newbie5354_ Selling volume 200k u also make noise, please look at EPF how much they have been accumulating. These big boys have the insider news not people like us

Posted by ERIC > 2020-07-01 22:04 | Report Abuse

short term TP shud be around 1.80, but it has given an image that myeg

Posted by ERIC > 2020-07-01 22:04 | Report Abuse

got good chance in niis

Posted by pharker > 2020-07-01 22:12 | Report Abuse

Somebody is on the run because lose big time money for some very rich and powerful investors..they are going after him, so have to hide for a while first..or go change identity before return

Posted by pharker > 2020-07-01 22:13 | Report Abuse

My first time buying this share...not bad, not bad

Posted by EagleFly > 2020-07-01 22:17 | Report Abuse

niis get for sure next supermax aldy.. supermax like very dump for few years, consolidate at rm1-1.6 end up not even half year rm8 plus now... myeg will be next supermax for sure if niis confirm get... let's HuaAAAAAAAAAT arrrrr...........

Posted by Ncm88 > 2020-07-01 22:29 | Report Abuse

habis lo empror fund disappear

Posted by Kumaraes > 2020-07-01 22:35 | Report Abuse

Good news first,2.00cent dividen... then profitable account... now extention 3years contract... Coming be sure on renew e-gov then niss and alot more since myeg already recognised and reliable on doing the great job

Posted by Kumaraes > 2020-07-01 22:38 | Report Abuse

Tomorrow hot news headline, Emprorfund gantung diri becouse of that market crash!

Posted by StockLORD > 2020-07-01 22:38 | Report Abuse

my guess is tomorrow will sure break 1.55 resistance and up above before the next resistance at 1.65. today hit higher than expected. WOW!!! congrats to those who hold still....

Posted by derrtan > 2020-07-01 22:46 | Report Abuse

Where the F is emperor

Posted by Alan Mu > 2020-07-01 23:01 | Report Abuse

I think sell first before too late ..buy with rumour sell with news... if not later drop back ... all profit gone

Posted by ERIC > 2020-07-01 23:07 | Report Abuse

@Alan Mu, this is different, MyEG not even goreng up before.. and the contract renewal ady guarantee the profit in 3 years, mean all these biz have strong basic, not goreng stock..

Posted by derrtan > 2020-07-01 23:10 | Report Abuse

Show me your f face emperor?

Posted by Alan Mu > 2020-07-01 23:11 | Report Abuse

Next two weeks politic will be messy ...sure will affect

Posted by Ivan89 > 2020-07-01 23:38 | Report Abuse

Gap
Up
For sure

Posted by Bryanlee118 > 2020-07-01 23:50 | Report Abuse

https://www.thestar.com.my/business/business-news/2020/07/01/myeg-secures-rm208mil-immigration-services-contract-extension

Posted by Bryanlee118 > 2020-07-01 23:50 | Report Abuse

Yes.....

Posted by EagleFly > 2020-07-02 02:36 | Report Abuse

Emperor sap chun fund... Ur name busuk aldy... Until next 3 generation... Busuk busuk busuk...

Posted by Jayjay123 > 2020-07-02 05:52 | Report Abuse

Aiya where the emperorfund tat wait for 1.3
Dead already ka? Lmao. Already told got extension news dun belip,lol

Posted by kimsean > 2020-07-02 06:07 | Report Abuse

He's banging his balls right now.

Posted by Good123 > 2020-07-02 07:05 | Report Abuse

PN could collapse anytime :). My E.G. Services Bhd (MyEG) has received a three-year extension from the Government to provide the foreign worker temporary employment pass online renewal service worth an estimated RM208 million. The firm said it received a notification letter from the Ministry of Home Affairs today on the extension, which is effective from May 23, 2020. The provision is for renewal of the pass — known as pas lawatan kerja sementara (PLKS) — under the Immigration Department

Posted by investorwannabe > 2020-07-02 08:43 | Report Abuse

Gonna be strong opening!

Posted by GPS_Sarawak > 2020-07-02 09:15 | Report Abuse

Agree. We out PH sure collapse.

Good123 PN could collapse anytime :). My E.G. Services Bhd (MyEG) has received a three-year extension from the Government to provide the foreign worker temporary employment pass online renewal service worth an estimated RM208 million. The firm said it received a notification letter from the Ministry of Home Affairs today on the extension, which is effective from May 23, 2020. The provision is for renewal of the pass — known as pas lawatan kerja sementara (PLKS) — under the Immigration Department
02/07/2020 7:05 AM

Posted by GPS_Sarawak > 2020-07-02 09:15 | Report Abuse

Nothing for us. Only Zahid cronies gain.

Posted by GPS_Sarawak > 2020-07-02 09:18 | Report Abuse

Minus 18 GPS seats can PN survive coming Parliament?

Posted by Alan Mu > 2020-07-02 09:20 | Report Abuse

Lucky sell at 1.60.almost the highest today

Posted by kobethebeagle > 2020-07-02 09:23 | Report Abuse

@EmperorFund You are better off shouting Fat Lady stuff, you're just not smart enough to create other stories , from Fat Lady to having sources to having firm to big funds manager, it's just too funny!

Posted by Kenzo8 > 2020-07-02 09:24 | Report Abuse

again the volume is higher than all glove counters...just a question, if there are buyers keep buying, how come the price not being pushed up? Can Sifus here enlighten me pls?

Posted by kobethebeagle > 2020-07-02 09:27 | Report Abuse

@Kenzo8 Volume is there to show that it is very actively trading, to see which side it is moving, you can see the B volume. Currently it is around 48%, means sellers are throwing the price to buyers. In simple words, you queue at RM1, seller sell to you at RM1. This is B. Seller queue at RM1.2, and you decide to meet the seller price at RM1.2, this is S. More S, high volume, price up.

Posted by ERIC > 2020-07-02 09:28 | Report Abuse

haha, actually dont care about NIIS ady, current contract ady can secure MyEG profit for 3 years..

Posted by Witty > 2020-07-02 09:34 | Report Abuse

Yup yup emperor. We all believe in u. :)

Posted by bignate2019 > 2020-07-02 09:40 | Report Abuse

If u look at buy/sell q buy are more in terms of volume and number of people queueing

Posted by High5 > 2020-07-02 09:49 | Report Abuse

This consortium is frontrunner for RM1.5 bil immigration system contract
By Xavier Kong | an hour ago | Mainstream

A consortium between MyEG Services Bhd, HeiTech Padu Bhd and S5 Systems Sdn Bhd is among the frontrunners for the National Integrated Immigration System (NIIS).

This is an RM1.5 bil project expected to be awarded during the third quarter of this year. The contract is for a total of 4.5 years including three years of development, six months of monitoring and a final year of maintenance.

After that, there is another maintenance contract which would be around 15%-20% of the value of the project.

Names have been bandied about. The usual suspects include listed companies Datasonic Group Bhd, Iris Corp Bhd and Scicom (MSC) Bhd. But it is the MyEG-HeiTech Padu-S5 Systems consortium that has been gaining some traction of late.

The most obvious link between the three companies is entrepreneur Wong Thean Soon, who owns MyEG which in turn plans to acquire a 10% stake in S5 Holdings Inc, the holding company of S5 Systems.

MyEG is expected to fork out RM90 mil, of which RM75 mil is in cold hard cash, while the remainder will be in MyEG shares.

Wong owns about 20% of MyEG directly and also through his vehicle, Asia Internet Holdings Sdn Bhd, which sits on a 37.6% stake.

But Wong also has a presence in HeiTech Padu through Asia Internet with a substantial 10.4% in HeiTech Padu, according to the latter’s 2019 annual report.

The other owner of Asia Internet is MyEG executive chairman Norraesah Mohamad. She was also an Umno supreme council member from 2000 to 2013.

And, HeiTech Padu has links to S5. One of its shareholders is AIX Shares Sdn Bhd which owns a meagre 0.79%, according to its annual report. AIX is wholly owned by offshore entity Merrington Assets Ltd.

Merrington owns a substantial stake in S5 Holdings and is the party that is being engaged by MyEG in the latter’s bid to acquire the 10% stake owned by Merrington in S5.

According to a Bursa filing dated June 30, the company Merrington had nominated is none other than AIX Shares.

Incorporated on July 5, 2019, AIX Shares has a sole director, Ng Hong Sing, who was among a string of individuals, together with Wong, involved in the alleged manipulation of MyEG shares between Jan 16, 2007, and April 24, 2007.

Wong entered into a settlement with the Securities Commission Malaysia in the sum of RM7 mil when he agreed without admission or denial of liability to settle the claim.

Other key shareholders of HeiTech Padu include Permodalan Nasional Bhd (PNB) which owns a 6.96% stake as well as Padujade Corp Sdn Bhd with a 24.85% stake.

Padujade has a string of shareholders including Perbadanan Usahawan Nasional Bhd (PUNB) with a 4.95% stake.

PNB and PUNB are wholly owned by Yayasan Pelaburan Bumiputra (YPB), whose chairman is Prime Minister Muhyiddin Yassin. Meanwhile, Tanjong Karang MP and Umno strongman Noh Omar is expected to helm PUNB.

Technically, the MyEG-HeiTech Padu-S5 Systems consortium presents itself as a strong front. MyEG itself received a three-year extension yesterday from the government to provide the online service for the foreign worker temporary employment pass which is worth an estimated RM208 mil.

But HeiTech Padu has a troubled past with its handling of the NIIS’ predecessor, the Malaysia Immigration System (MyIMMS).

HeiTech Padu was appointed by the Ministry of Finance, then headed by Najib Razak when he double hatted as prime minister, on Nov 1, 2010, through direct negotiation.

The Auditor General’s Reports 2015 and 2018 highlighted issues with the MyIMMS, including “losses in government revenue” in the latter report. The Malaysian Anti-Corruption Commission and the Home Ministry were looking into the issues.

But the flashpoint was in May 2016 when an insider syndicate in the Immigration Department was busted for sabotaging the MyIMMS after it successfully siphoned off RM1 bil.

Heitech Padu came out to defend itself that year after being criticised for putting out a shoddy product. The company denied that MyIMMS had been compromised but admitted that the system is susceptible to power outages and internet service disruptions.

But Heitech Padu also believed it was made the scapegoat for a structural problem much bigger than itself: poor overall system integration as many databases were developed and maintained by various vendors.

This led the Najib government to announce an overhaul of MyIMMS, hence the NIIS. Whether the NIIS can be successfully executed is another question that is worth raising given the many vested interests in the project.

Also, there is an element of mystery with S5, as its major shareholder NSA Technology is owned by an offshore or overseas entity NSA Technology (L) Inc.

But its sole director is Syed Mohammad Hafiz, who is from the Perlis royal family. His father, Syed Razlan Syed Putra Jamalullail, is the younger brother of Raja Perlis Tuanku Syed Sirajuddin Putra Jamalullail.

Posted by High5 > 2020-07-02 09:50 | Report Abuse

Buy Buy Now

Posted by TtreeInvestor > 2020-07-02 09:51 | Report Abuse

Retailers A sell to Retailers B. Today trend. See whether MYEG today manage to defend the selling pressure from retailers (i believe some investors bought at lower position have good intention to exit first) or not. If can, meaning new batch of investors can accept this RM1.55 pricing.

Posted by JustForFund > 2020-07-02 09:52 | Report Abuse

Emperor Fund... Ya, ya, ya. U r right la.. I sold myeg to u la... C all of u next time...

Posted by Lychien20 > 2020-07-02 10:05 | Report Abuse

myeg will be main con and those company that they gt share will be theirs subcontractor, i guess only n ideal case

Posted by Kenzo8 > 2020-07-02 10:07 | Report Abuse

Thanks kobethebeagle. I tot the other way round initially, cuz i saw the B vol was higher than S vol, wondering why the price stagnant there and not moving up.

Posted by covid19la > 2020-07-02 10:27 | Report Abuse

i like how think is emperor face haha
i mean normal people will just deactivate the acc and disappear forever.

Posted by witan > 2020-07-02 10:31 | Report Abuse

@EmperorFund seriously why are u still even barking here? "Your sources" say myeg wont win the contract and yet they DID for 3 years. U got no shame kah? Or something wrong w your brain?