PETALING JAYA: Electronic government services provider My E.G. Services Bhd’s (MyEG) shares slumped 7.6%, or 7 sen, yesterday to close at 85 sen on news that three other companies have been given the green light by the Government to provide electronic transaction services to the Road Transport Department (JPJ).
Electronic transactions for the JPJ are currently handled by MyEG.
A local analyst said MyEG’s earnings going forward would definitely be affected as the bulk of its revenue was derived from providing electronic transaction services to the Government, especially the Government Enterprise Solution (GES) and Government to Citizen (G2C) services.
GES and G2C services contributed over 90% to MyEG’s revenue, according to the analyst.
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