E-government service provider MyEG Services Bhd (MyEG) said the project awarded by the Immigration Department to register illegal foreign workers does not have a fixed value as it depends on the number of illegal workers successfully registered.
Subject to the number successfully registered, the project is expected to contribute positively to the net assets per share of the group as well as becoming an additional revenue stream, said MyEG in its filing on Bursa Malaysia today.
It was responding to queries from the regulator for more details about the project yesterday.
Recall that last Friday, MyEG had announced that a consortium of companies, of which MyEG is a member, received an appointment letter on September 4 to undertake the registration of illegal foreign workers in the country.
Today, it said the tenure of the project is from September 4 this year to March 4, 2016, and that the project is not renewable at this point of time.
“Nevertheless, upon expiry, MyEG may apply for a renewal, which is subject to approval from the government,” MyEG added.
It also said it does not foresee any risks in relation to the project now, other than the possibility that there may not be any registration of illegal foreign workers.
MyEG closed 2 sen higher at RM2.62 today for a market capitalisation of RM3.14 billion.
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Quelle/Source: The Malaysian Insider, 08.09.2015
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