KLSE (MYR): MYEG (0138)
You're accessing 15 mins delay data. Turn on live stream now to enjoy real-time data!
Last Price
0.89
Today's Change
-0.05 (5.32%)
Day's Change
0.89 - 0.935
Trading Volume
104,175,600
Ann. Date | Date | Type | Name | Title | View |
---|
Q1. The company has capitalized the
Development Cost as Non-Current Asset
and it is astonishingly high at RM1.34B.
Will this Development Cost be amortised
as expenses following the launching of
blockchain services?
A1: A total of 1 billion Zetrix tokens have been
minted. The amortisation of the development
costs shall be recognised upon every sale of
Zetrix tokens and the amount recognised
shall be in proportion to the percentage of
tokens sold out of the total minted. As the
development costs represent the costs
incurred to develop the blockchain, which in
turn enabled the tokens to be minted, revenue
from the sale of tokens shall therefore be
offset by the corresponding cost of
development of the Zetrix blockchain
platform. As at 31 December 2023, we have
amortised approximately 1% of the
development cost, in proportion to the
number of Zetrix token sold out of the total
amount minted
3 days ago
If local institutions are still procrastinating over this stock counter, foreign funds will get in before them and take the prices higher sooner or later.
3 days ago
MY E.G. SERVICES BERHAD- 23RD ANNUAL GENERAL MEETING webcast
https://www.youtube.com/watch?v=KxL65Y28X3A
3 days ago
@Garrison8 Conglate you of making "so much profit" in Bitcoin. However, this is a public forum for MYEG. You may promote in other relvant Bitcoin forum on your success. Thanks for understanding.
3 days ago
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥
Reported a good quarter. At its presence price, seems good value.
3 days ago
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$17, we have revised our earnings estimates for FY2024-FY2026," BIMB Securities wrote in the latest quarterly result.
BIMB forecasts MyEG to post core net profit of RM625.4 million in FY2024 versus consensus estimate of RM591 million, and RM667.4 million in FY2025 and RM718.8 million in FY2026.
This translates into earnings per share of 8.4 sen in FY2024, nine sen in FY2025 and 9.7 sen in FY2026.
BIMB has raised its target price to RM1.34 from RM1.21 previously, in line with the upward revision of its earnings forecasts. "Our target price is based on a five-year average forward price-earnings ratio of 16 times applied to FY2024 EPS of 8.4 sen," said BIMB.
For the cumulative six months ended June 30 (6MFY2024), MyEG’s net profit soared 47.76% to RM321.37 million from RM217.49 million. Revenue for 6MFY2024 also increased by 32.71% to RM475.24 million compared with RM358.1 million.
3 days ago
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$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.
3 days 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%
3 days 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
3 days 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
3 days 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
3 days 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%.
3 days 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.
2 days 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
2 days ago
Dare to speculate
MYEG has a monopoly on blockchain technology in Malaysia.
2 days ago
MYEG will have a hand will be involved in all of Malaysia's e-Government blockchain applications
2 days ago
Just like last time during Malaysia initial adoption of e Government
Just this time it is WEB3
2 days ago
MYEG is the early mover in WEB3 blockchain technology in Malaysia
Even in ASEAN
2 days 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.
2 days ago
All Malaysia E Government Services (MY E.G. Services) will use MYEG WEB3 blockchain technology.. going forward
2 days 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.
2 days 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.
2 days 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.
2 days 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
2 days 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
2 days 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.
2 days 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 day 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 day 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 day ago
better disposed first. kwap and epf still a lot ticket. you don't know when they will throw huge ticket again
1 day 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 day 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,”
11 hours ago
hng33
Q1: Under Page 169 in the balance sheet,
total development cost is 1.2bil, how
much is development cost on Zetrix?
A1: The development cost for Zetrix constitute
approximately 70% of total development
cost.
3 days ago