KUALA LUMPUR: My E.G. Services Bhd
net profit for the primary quarter ended March 31, 2022 (Q1 2022) rose 11.4 per cent to RM84.63 million from RM76.29 million in the identical quarter final yr due to larger contribution from quarantine assortment companies.
However, the corporate registered a decrease income of RM161.77 million for the quarter from RM171.46 million a yr in the past.
In a submitting to Bursa Malaysia at the moment, the corporate mentioned the upper profit by RM8.72 million was primarily attributable to larger contribution from COVID-19 quarantine assortment companies underneath MySafeTravel and MySafeQuarantine as the federal government closed down its quarantine centres and allowed personal quarantine preparations to be made.
The firm additionally noticed larger transaction volumes for its present concession companies which resulted in larger contribution from ancillary companies resembling fulfilment of safety paperwork and on-line renewal of insurance coverage, it mentioned,
As for income, it mentioned the lower of roughly RM9.69 million or 5.7 per cent was primarily due to the change of reservation association and recognised referral charge for each personal quarantine association.
On the prospect for the monetary yr ending Dec 31, 2022, the corporate mentioned it’s cautiously optimistic that the long-term outlook for MYEG remained optimistic because it continues to introduce modern companies in Malaysia in addition to globally.
MYEG is anticipated to proceed introducing modern companies by leveraging on new applied sciences in Malaysia in addition to the nations which it had presence in, to drive the natural development this yr.
“With the COVID-19 restriction uplifted, MYEG is now embarking into blockchain expertise by introducing a Layer 1 blockchain platform named Zetrix in collaboration with companions.
“At the identical time, we’re integrating the platform with China’s nationwide blockchain platform, specifically Xing Huo to allow us to begin introducing business companies which can be utilized globally,” it added. – Bernama
