MY E.G. Services Berhad (MYEG) is a home-grown technology company that has been listed on Bursa Malaysia since 2007. It provides a wide variety of electronic government and commercial services including renewal of foreign worker work permits, road tax renewals, and auto financing. MYEG also runs MyMotor – an online car marketplace.
MYEG had been an analyst and investor favourite for many years as its share price rose precipitously from 2013 to 2018. However, its share price plunged more than 70% after the 2018 Malaysian general election to hit a low of RM0.66 at one point, from RM2.58 just a day before the election.
As a significant portion of its revenue is generated from government contracts, MYEG is perceived to be closely linked with Barisan Nasional, the former governing federal coalition of Malaysia. So how is MYEG faring nearly one year after the new Malaysian government was elected? I