The selldown of companies that had bagged government concession projects, following the decision last week to scrap the RM3.5 billion national immigration control system (SKIN) project, has given rise to buying opportunities, say market observers.
The affected company include Prestariang Bhd (which holds a 70% stake in SKIN), MyEG Services Bhd and Scicom (MSC) Bhd.
Read more: MY: Buying opportunities after selldown of e-government service providers
A slide, a touch and a beep: such is the easydoings of electronic payments in today’s era of effortless payments.
Accelerating consumer’s migration to electronic payments (e-payments) in its move to realise cost savings and benefits has become a part of thw government’s agenda to increase the efficiency of the nation’s payment systems.
With investors concerned about its earnings prospects after the change of government at home, MyEG Services Bhd (MyEG) is eyeing e-government projects in Indonesia. MyEG announced it is buying a 40% stake in e-government service provider PT Cartenz Technology Indonesia for US$10 million (RM41.9 million).
It seems that concerns about MyEG’s ability to secure local e-government projects have prompted it to venture beyond its home turf. This is the third joint venture abroad for the group, after being active in the Philippines since last year and it has also set foot in Bangladesh.
- Entrepreneurs and SMEs need to assess fundamental aspects of their business
- Time to take advantage of government policies, partner to accelerate digital businesses
Read more: Stronger public private partnership required to drive Industry 4.0 in Malaysia
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.