MyEG down 4% despite dividend proposal, profit report

KUALA LUMPUR (March 4): MyEG Services Bhd’s share price fell more than 4% in morning trade on Bursa Malaysia today amid broader market losses despite the electronic government services specialist proposing a final dividend of 1.7 sen a share and reporting a fourth-quarter and full-year net profit yesterday.

At the time of writing today, MyEG’s share price was nine sen or 4.02% lower at RM2.15.

Yesterday, MyEG said in filings with Bursa that the company is recommending the final dividend of 1.7 sen a share for the financial year ended Dec 31, 2020 (FY20).

The company also reported a fourth quarter ended Dec 31, 2020 (4QFY20) net profit and revenue of RM75.51 million and RM149.89 million respectively, while cumulative full FY20 net profit and revenue stood at RM268.16 million and RM532.06 million respectively.

“The financial year end of the group had been changed from Sept 30 to Dec 31. As such, there is no comparative financial information available for the financial period ended Dec 31, 2020,” MyEG said.

Source: TheEdgeMarkets