My E.G. Services Bhd (MyEG), through wholly owned sub-subsidiary My EG (Indonesia) Sdn Bhd, yesterday signed a memorandum of understanding on investing in the leading e-government services provider in Indonesia, PT Cartenz Technology Indonesia, marking the group’s entry into the e-government space there.
The partnership, subject to the fulfilment of certain terms and conditions, will entail an investment by MyEG of US$10 million (RM41.9 million) for up to a 40% interest. Further, MyEG and Cartenz will jointly implement real-time monitoring of business transactions for tax computation purposes across Indonesia.
MyEG’s proprietary solutions alongside Cartenz’s track record and insights into the local operating landscape will accelerate the present base of 5,000 installations to a targeted one million installations. In addition, MyEG and Cartenz will collaborate to roll out other solutions that MyEG has deployed in Malaysia and the Philippines.
Headquartered in Jakarta, Cartenz is an information and communications technology company that is principally involved in the provision of information systems to all levels of government agencies for more efficient management, including in the administration of regional taxes. To date, Cartenz has deployed its tax monitoring system to some 5,000 business outlets and has provided its tax revenue system to 76 local governments, including Jakarta and Bali.
MyEG managing director T.S. Wong believes that in Cartenz it has found a like-minded partner that shares its vision of harnessing the power of technology to advance government and commercial service delivery for the benefit of consumers.
“Even as we were rolling out our tax monitoring system in Malaysia over the last two years, Cartenz has been doing likewise in Indonesia, which is proof enough that we share a common vision. Obviously, Indonesia’s vast economic potential is undeniable, and we look forward to being very aggressive in deploying to one million outlets within three years,” said Wong.
MyEG’s foray into Indonesia is the third joint venture overseas for the group, having been active in the Philippines since 2017 and having more recently set foot in Bangladesh.
Along with its home market of Malaysia, where the group has been operating since 2000, MyEG’s presence will thus span four countries with a combined population of over half a billion people.
MyEG executive chairman Datuk Dr Norraesah Mohamad said the group will continue to replicate its model and export its system to other populous emerging markets. She described the MoU as a testimony of the international recognition of MyEG’s capability and credibility as a technology company, which underscores MyEG’s leading position as a regional flag bearer in e-government products and services.
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Quelle/Source: The Sun Daily, 26.11.2018
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