Two-year extension granted to MyEG's immigration-related services

My EG Services Bhd (MyEG) has been granted an extension by the Home Affairs Ministry for its immigration-related services for two years.

The extension's total estimated value will depend on the number of transactions performed over this period.

"As part of the requirement under the extension, MyEG will have to complete a system enhancement.

"MyEG will resume accepting applications for immigration-related services upon completion of this system enhancement, of which the company will announce the commencement date in due course," it said in a filing with Bursa Malaysia today.

MyEG said an agreement to formalise the extension will also be signed later.

"The board is of the view that the extension is in the company's best interest and is expected to contribute positively to the earnings and net assets per share of the company for the financial years ending Dec 31, 2023 onwards," it said.

In a separate statement, the group has announced the launching of the initial exchange offering (IEO) by Zetrix on the cryptocurrency exchange Coinstore from Oct 18-26, 2023.

An initiative by MyEG, Zetrix is a Layer 1 public blockchain infrastructure that leverages blockchain and artificial intelligence to empower governments and enterprises in digitalising global trade.

Zetrix co-founder Fadzli Shah said the IEO provides an avenue for global Investors to partake in the vast potential of Zetrix, which is integrated and operational with China's national blockchain, Xinghuo Blockchain Infrastructure and Facility.

Essentially, he said, this allows Zetrix users exclusive and direct access to China's 50.2 trillion yuan (RM32.5 trillion) digital economy.

- Bernama

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