Potential earnings growth seen for MyEG

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Experts said MyEG’s immigration and healthcare segments stand to benefit from the reopening of international borders.

Moreover, the research house believed the market had underestimated the potential earnings growth from its decentralised finance segment, which is gaining traction.As of April 1, the Human Resource Minister has received about 470,000 applications for foreign workers representing more than 40% of the 1.1 million registered foreign workers in 2021, according to the research report.

The research house noted MyEG charges RM70 for Malaysians and RM100 for foreigners per breath test. Due to its rapid and accurate detection, research house said MyEG’s breath test could be the ideal option. According to the research house, the digital yuan adoption is rapidly gaining traction, with the pilot programme being rolled out to more cities in China, currently at 17 cities and payment service providers such as UnionPay incorporating digital yuan as a payment option in its platform for merchants and users.

This is due to the elevated capital expenditure for its DeFi segment, breath test equipment, as well as the hardware for its Road Transport Department e-testing project, according to the research house.

 

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