MY E.G. SERVICES BHD
KLSE (MYR): MYEG (0138)
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Last Price
0.895
Today's Change
+0.005 (0.56%)
Day's Change
0.89 - 0.905
Trading Volume
34,442,900
Company Announcement
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Discussions
68 people like this. Showing 50 of 66,786 comments
MIDF is maintaining its 'buy' recommendation with an unchanged target price of RM1.38.
Meanwhile, BIMB Securities Research (BIMB) said that MyEG is well positioned to maintain its growth trajectory by leveraging emerging technologies.
"In the light of the stronger than expected performance and the rise of Zetrix token price, which has more than tripled from US$5 to US$17, we have revised our earnings estimates for FY2024-FY2026," BIMB Securities wrote in the latest quarterly result.
BIMB forecasts MyEG to post core net profit of RM625.4 million in FY2024 versus consensus estimate of RM591 million, and RM667.4 million in FY2025 and RM718.8 million in FY2026.
This translates into earnings per share of 8.4 sen in FY2024, nine sen in FY2025 and 9.7 sen in FY2026.
BIMB has raised its target price to RM1.34 from RM1.21 previously, in line with the upward revision of its earnings forecasts. "Our target price is based on a five-year average forward price-earnings ratio of 16 times applied to FY2024 EPS of 8.4 sen," said BIMB.
For the cumulative six months ended June 30 (6MFY2024), MyEG’s net profit soared 47.76% to RM321.37 million from RM217.49 million. Revenue for 6MFY2024 also increased by 32.71% to RM475.24 million compared with RM358.1 million.
1 week ago
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥
Its long term debt and interest payment have increased significantly over the last year.
It needed to pump in capital to grow its business.
The increase in Revenue of RM57.40 million (or 31.05%) and the increase in PAT of RM53.99 million (or 48.49%) was a result of:
i) contribution from services from our Zetrix blockchain platform such as ZCert and Digital ID
registration and transaction; and
ii) contribution from the sale of Zetrix tokens.
Despite the buying and selling activities of the major shareholder, his shareholding has not changed significantly since January 2024.
1 week ago
Foreign Shareholding according to MIDF‘s weekly Money Flow Report - -
As at Apr 2024 = 11.9%
As at May 2024 = 14.3%
As at Jun 2024 = 14.4%
As at July 2024 = 16.7%
1 week ago
BIMB forecasts MyEG to post core net profit of RM625.4 million in FY2024 versus consensus estimate of RM591 million, and RM667.4 million in FY2025 and RM718.8 million in FY2026. This translates into earnings per share of 8.4 sen in FY2024, 9 sen in FY2025 and 9.7 sen in FY2026 and based on a five-year average forward price-earnings ratio of 16 times.
2024 EPS 8.4sen = RM 1.35 + 30% dividend payout
2025 EPS 9.0sen = RM 1.44 +30% dividend payout
2026 EPS 9.7sen = RM 1.55 + 30% dividend payout
1 week ago
BIMB is rather consistent
PE 16 Non growth
PAT also non growth despite Zetrix going live in AUGUST
1H24 RM 321 million
2H24 RM 303 million (625-321)
2H is projected to bring in lesser PAT then 1H
But isn't Zetrix going full swing starting with fresh durina c Aug 24??
BIMB
RM625.4 million in FY2024 versus consensus estimate of RM591 million, and RM667.4 million in FY2025 and RM718.8 million in FY2026
1 week ago
MIDF Research foresees that Zetrix could potentially take over the overall income from e-government services, which is currently the core earnings contributor in MyEG.
"At the current rate, we view that there is a high chance that earnings from Zetrix would take over the overall income from e-government services," it said
1 week ago
BIMB forecast of 8.4 cents for 2024 is very conservative. Factoring in consistent past earnings growth trend and onstream of Ztrade in 2H2024, a 5% qtr to qtr growth could be expected in Q3 and Q4. Estimates of NP for Q3 would be 174m and Q4 182m bringing 2024 full year NP to 677m. This translates into EPS of 9 cents for 2024. At 21/08/24 closing price of 0.92, the PE ratio is only 10.2 which is very low for a growth stock with ROE 23%, profit margin exceeding 60% and past 10-year CAGR of about 20%.
1 week ago
In 2022, MyEG Services Bhd (MyEG) was officially appointed to jointly develop and operate Malaysia’s national public blockchain with Mimos Technology Solutions Sdn Bhd (MTSSB). This collaboration was formalized through a memorandum of understanding (MoU) signed on October 6, 2022123. The project aims to develop the Malaysia Blockchain Infrastructure (MBI) using Zetrix and Mimos blockchain technology.In July 2024, Prime Minister Anwar Ibrahim discussed Malaysia’s National Digitisation Program, highlighting the involvement of MYEG’s Zetrix blockchain and Web3 technologies. This initiative aims to enhance the country’s digital infrastructure and services, leveraging blockchain technology to improve transparency, efficiency, and security in various sector.
1 week ago
This initiative aims to enhance the country’s digital infrastructure and services, leveraging blockchain technology to improve transparency, efficiency, and security in various sector.
.... various sectors
Likely will start in banking sector to fight banking scams
Imagine using blockchain and AI for this.....
Imagine all banks in Malaysia use MYEG blockchain technology
All banks
1 week ago
Dare to speculate
MYEG has a monopoly on blockchain technology in Malaysia.
1 week ago
MYEG will have a hand will be involved in all of Malaysia's e-Government blockchain applications
1 week ago
Just like last time during Malaysia initial adoption of e Government
Just this time it is WEB3
1 week ago
MYEG is the early mover in WEB3 blockchain technology in Malaysia
Even in ASEAN
1 week ago
Zetrix acts like an operating system, one by one, and eventually all government applications run on it and collect transaction fees. Just like most of the apps run on Android or IOS.
1 week ago
All Malaysia E Government Services (MY E.G. Services) will use MYEG WEB3 blockchain technology.. going forward
1 week ago
The Company had on 6 October 2022 entered into a MOU with MIMOS Technology
Solutions Sdn Bhd to jointly develop and operate the national layer 1 public blockchain
using Zetrix and MIMOS blockchain technology, as the components of the Malaysia
Blockchain Infrastructure.
1 week ago
https://www.thestar.com.my/business/business-news/2024/08/22/myegs-blockchain-unit-zetrix-continues-to-lift-groups-earnings
It pointed out that there may also be cooperation on Malaysia and China’s national ID available on Zetrix’s ecosystem.
“We understand that more than 100,000 sign-ups have been onboarded thus far, which roughly added RM5mil in revenue to the group,” the research house added.
UOBKH Research believes that there will be earnings accretion from the Worldcoin project.
“We understand that MyEG was appointed by Worldcoin to provide infrastructure services and operate the blockchain-enabled iris scanning (RM50 revenue and scan).“There is no major capital expenditure of software integration required for Worldcoin’s iris scanning so the project shall be earnings accretive to MyEG when started,” it explained.
1 week ago
It's like recovering from a serious illness, standing up and falling down, standing up and falling down。。。 Hopefully it will take off soon.
1 week ago
https://www.163.com/dy/article/JA718E5N0514FC87.html
首批5吨大马鲜榴莲本周到货！百果园抢鲜首发！
2024-08-22
1 week ago
https://www.msn.com/en-my/news/other/first-batch-of-fresh-whole-durian-leaves-for-china-on-saturday/ar-AA1pe3qy
First batch of fresh whole durian leaves for China on Saturday
1 week ago
https://cryptonews.com/news/malaysia-embraces-worldcoins-iris-scan-technology.htm
Malaysia Embraces Worldcoin’s Iris Scan Technology
Malaysia has officially adopted Worldcoin’s iris scan technology, aiming to use it to enhance the verification of digital credentials.
1 week ago
https://www.sinchew.com.my/news/20240822/nation/5861132
20吨包机运郑州深圳 首批榴梿鲜果后天输华
ZTRADE 。。。Ka-Ching。。。Ka-Ching 。。。Ka-Ching。。。
1 week ago
Equities in Indonesia and Malaysia are standing out as bright spots in Asia this month as global investors trim their exposure to almost every other market in the region....Bloomberg. Foreign funds have been net buyers in our Bursa markets since August 13th. However, I'm puzzled as to why retail investors continue to sell off fundamentally strong stocks at low prices. Anyway I am happy to collect.
1 week ago
Foreign Shareholding according to MIDF‘s weekly Money Flow Report (MYEG) - -
As at Apr 2024 = 11.9%
As at May 2024 = 14.3%
As at Jun 2024 = 14.4%
As at July 2024 = 16.7%
1 week ago
better disposed first. kwap and epf still a lot ticket. you don't know when they will throw huge ticket again
1 week ago
Actually I think today red not really bcs of myeg, people just throw across board only to me, even good result company still in red.......
1 week ago
https://www.malaymail.com/news/malaysia/2024/08/24/agriculture-ministe...
Agriculture minister: Malaysia begins exporting fresh durians to China today
Saturday, 24 Aug 2024
“Upon arrival at Zhengzhou Xinzheng International Airport, a comprehensive logistics network - including trains, trucks, and other transport modes - ensures that the fresh durians can be distributed throughout China in under 24 hours, reaching major cities like Beijing and Shanghai, which are key markets for our fresh durian,”
1 week ago
https://www.youtube.com/watch?v=Mc35svFxmrc
市场反应热烈令人鼓舞 大马“榴梿风暴”席卷中国 | 八点最热报 26/08/2024
5 days ago
People foresee further earnings growth as new blockchain services, such as ZCert and Digital ID registrations, continue to enhance MYEG’s revenue
1 day ago
esok 31hb August 24..
hari ulang Tahun kemerdekaan yg ke 67 buat Malaysia..
semoga Malaysia sentiasa merdeka dari penjajahan era baru..
tut tut
selamat bercuti semua..
semoga next week akan lebih baik hendaknya..
1 day ago
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Reported a good quarter. At its presence price, seems good value.
1 week ago