paktua73KUALA LUMPUR (April 16): E-government services providers MyEG Services Bhd and Heitech Padu Bhd have formed a partnership to collaborate on IT projects in Malaysia.
According to separate bourse filings from both companies on Tuesday, MyEG and Heitech Padu have inked a teaming agreement for the collaboration.
“The purpose of the agreement is to set forth the understanding of the parties with respect to their respective roles and responsibilities wherein the parties wish to collaborate in the marketing activities, sharing of related know-how and system integration of IT solution for identified projects to potential customers of the parties,” the filings read.
MyEG is a substantial shareholder in Heitech Padu with a 15.9% stake via MyEG Capital Sdn Bhd. Via this same stake, MyEG co-founder and managing director Wong Thean Soon (better known as TS Wong), who owns a 28.9% equity interest in MyEG comprising both his direct interest and via his investment vehicle Asia Internet Holdings Sdn Bhd, is deemed a substantial shareholder in Heitech Padu.
Meanwhile, MyEG non-independent non-executive director Datuk Mohd Jimmy Wong Abdullah, who owns a 0.09% stake in the company, is also a non-independent non-executive director of Heitech Padu.
MyEG noted that Mohd Jimmy and TS Wong will continue to abstain from all deliberation and voting at relevant company board meetings, while Heitech Padu noted the same for Mohd Jimmy in its relevant board meetings.
Notably, Heitech Padu is reportedly one of the three companies shortlisted to take on the RM1 billion National Integrated Immigration System (NIISe) project after Iris Corp Bhd was dropped from the job. Previously, The Edge reported that MyEG’s interest in Heitech Padu goes beyond just the NIISe project.
“Although both companies are involved in the provision of services to the government, there is no overlap, as each company is focused on completely different aspects of e-services.
“Both companies will work together to explore opportunities to participate in projects that are in line with our competencies and objectives, and this will not be limited to the NIISe project,” a MyEG spokesperson told The Edge. At the time of writing, shares in MyEG were down half a sen or 0.64% to 77.5 sen, valuing the company at RM5.82 billion.
Meanwhile, Heitech Padu shares were trading one sen or 0.41% lower at RM2.42, giving the company a market capitalisation of RM244.96 million.
tut tut good new?
16/04/2024 11:16 AM
James_BondCollected another batch at 0.77! Thanks!
16/04/2024 11:19 AM
paktua73afternoon @Sailang_now.. paktua always make comeback when price so attractive haha
tut tut let ride again
16/04/2024 11:55 AM
James_BondNeed blockchain to track back your money in the midst of war!
博主评语：银河国际证券的目标价1.15令吉看起来不是很靠谱。加密货币（除了比特币），都是昙花一现。新加坡淡马锡控股，耗资2.75亿美元，投资FTX加密货币。结果被 Sam Bankman Fried 搞到血本无归。马云的阿里巴巴淘宝是马中贸易最好的平台。可是我们的政府又搞一大堆的网购税，ZTrade应该也是没有康头。MYEG是前朝政府推行的《官商模型》。新官上任三把火，现在是火箭当家，这些官商模型，今非昔比，已经被时代淘汰。
JJPTRTo MyEg die hards, i have one question to ask. If you look at MyEg qtrly result. Very beuatiful. But before that , Short term loan is 142m rgt . Long term loan is $704m rgt. Assuming effective loan interest is 7%, that means interest charges per year is about $59.2m. Now if you take a look at MyEg last 4 qtrs profits, PBT and PAT are pratically the same. Dont MYEG have to pay tax? Do I miss something?
18/04/2024 12:00 PM
EngineeringProfitNothing. You're 100% correct. I've warned them not to waste time here
18/04/2024 12:11 PM
1pingpongThis respond from ISrael is still pending - Any firing of rockets in reply will cause another tank in Bursa. By then - its the real Black Friday.
18/04/2024 12:15 PM
1pingpongAnd some more we all see KWAP and EPF big buy in...if we follow these 2 track record...you will want to do the contrary from them.
18/04/2024 12:16 PM
1pingpongAnd not be deceived by false breakout of small push as to lure buy in and then sudden tank...which is too common..
18/04/2024 12:18 PM
EngineeringProfitNo, they support the price to escape high price- maximising profits. Yes, don't be gullible
Pbt. Before that is PBIT. (11m last quarter) Tax was 551k last quarter.
18/04/2024 2:32 PM
1pingpongWhen the push is real, the stat will appear net selling. When the dump is real, the net will show buying. The art of Flushing.
18/04/2024 3:11 PM
1pingpongOne tend to learn more when loosing than winning. especially in the hundred of thousands.
18/04/2024 3:14 PM
1pingpong4.45pm - 5.00pm is the window for magical intervention and revelation of clear direction
18/04/2024 3:16 PM
1pingpongok, i am actually bored. be off to starbuck for a drink.
18/04/2024 3:17 PM
swimvsharkpingpong really match your words... talk = no talk= talk cock. roti canai is your nick name.
i can tell you it will go up before it go down. Y? bcos kwsp and epf bought too much to support it. if i were in thier shoe, sure frie up and sell slowly. nobody sell at floor price... mark my words
MYEG is very shrewd in its tax management and is able to enjoy a lot of tax incentives offered by the government, so much that the effective cummulative tax rate paid for the financial year 2023 is only 0.29% compared to the standard 24%.
Read Note B5 in the latest Qtr Report on Taxation.
18/04/2024 4:36 PM
swimvsharkas for JJPTR, some time earn money is not follow on facts. u see JJPTR scam so big also earn alot of money. no logic inside. just pure tactic only.
18/04/2024 4:38 PM
1pingpongHey long time no see Tan Sri swimvshark. Hows your 1000 pax strong company? Hope you doing well as usual. Ya, my apology, Tan Sri, I dint know u are buying this counter also.
ignissimiaIt may be note worthy to know that both EPF and KWP made their last disposals of MYEG shares 2 days apart on 18 and 20 March 2024 respectively.
On 18 March 2024 EPF actually ceased to be a Substantial Shareholder of the counter after unloading 4,535,000 shares but regained the SS status on 27 March after acquiring 3,500,000 new shares.
So far, EPF has made new share acquisitions on 1 day in March and 3 days in April totalling 14,257,000 units.
KWP has acquired new shares on 2 days in March and 4 days in April totalling 9,274,800 units.
paktua73morning..sailaing_now.. paktua wish on coming week myeg can break new High..
tut tut more focus on new ipo stock
19/04/2024 8:39 AM
Blue TulipGoreng, jangan tak goreng when the time comes!
19/04/2024 9:25 AM
EngineeringProfitDon't waste time here. Go make profits in hibiscus, etc etc
19/04/2024 10:09 AM
James_BondIsrael attacking Iran! Run for your life!
19/04/2024 10:21 AM
ignissimiaI missed the latest share acquisition of 2,821,100 units by KWP on 17 April in my summary yesterday. So total new shares bought since their last disposal is 12,095,900.
