Its managing director Wong Thean Soon said it has a target of rolling out two major services per year, an exercise which would help to increase the group's revenue by 10%.
For the current financial year ending June 30 2013 (FY13), MyEG is targeting a revenue growth of between 20% and 30%.
MyEG posted a net profit of RM27.3 million and revenue of RM66.9 million for FY12, a growth of 24% and 14% respectively from a year ago.
"Years 2013 and 2014 will be busy for us. We have additional services from the Road Transport Department (JPJ), the Immigration Department and a project from the Royal Malaysian Customs Department. We believe these new services will continue to be launched in rapid progression for the next one or two years," he told a press conference after the group's AGM here yesterday.
MyEG is currently negotiating the final details of the online tax monitoring system project with the government, after running a pilot project earlier. This new service is expected to kick off in the first quarter of 2013.
Meanwhile, the group, which already offers online work permit renewal services for maids, is now expanding it to include work permit renewal for foreign workers in other sectors such as construction, services and plantation.
"It's the next big service, and hopefully it'll be launched within one to two months. We hope that it will contribute a 5% to 10% revenue growth in its first year of operations and continue to grow for the next two to three years before reaching maturity," he said.
MyEG expects to garner a 50% share of the foreign worker permit renewal services market, upon maturity.
Wong said the new services will take about six months to gain traction and between two years and three years before they are fully adopted.
"(For example,) what (new services that) we introduced last year will be contributing to our (revenue) growth this year and what is introduced this year will contribute to our (revenue) growth next year."
About 90% of MyEG's services are currently government-related, with half of these services in collaboration with JPJ. MyEG currently works with 12 government agencies.
The group is also looking to reduce its reliance on the government sector and hopes to achieve a 50:50 contribution between the public and private sectors in three to five years.
"We're looking at working with other online players in the commercial sector to diversify our focus from purely offering government-related services to offering commercial services as well. We're already working on it and we hope to offer commercial services in the coming months, " he added.
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Autor(en)/Author(s): Ee Ann Nee
Quelle/Source: The Sun Daily, 20.12.2012
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