Quick take: MyEG rises 5.3%, most active on Bursa

KUALA LUMPUR: Shares of My EG Services Bhd (MyEG) were hotly traded this morning with over 24 million shares exchanging hands, making it the most actively traded counter on Bursa Malaysia.

The counter advanced 5.36%, or six sen to RM1.18 with 24 million shares traded

MYEG’s subsidiary in Indonesia, PT Cartenz Inti Utama (Cartenz Group), has secured additional government mandates to roll-out its tax monitoring system to 30 more cities.

MYEG said this marked the expansion of the programme in Jakarta. It did not disclose the value of the contract.

The group started the implementation of real-time monitoring of business transactions for tax computation purposes in 2018, with installations in retail merchant premises presently ongoing in Jakarta under a pilot programme.

MYEG managing director TS Wong said this had exceeded the company’s initial targets.

“We now believe that our Indonesian roll-out will be faster and require lower capex than our previous expectations, ” he said.

Source: TheStar