MyEG buys controlling stake in restaurant review portal - Business News | The Star Online


MyEG buys controlling stake in restaurant review portal

KUALA LUMPUR: My EG Services Bhd (MyEG) is buying a 67% stake in the EatDrinkKL digital platform that provides reviews and news on the food and beverage businesses.

In a filing with Bursa Malaysia, the e-Government services provider said its unit My EG Capital Sdn Bhd had entered into a shareholders agreement with Essential Reviews Sdn Bhd - the sole owner of the EatDrinkKL’s intellectual property rights - and its only shareholder Sean Cornelius Yoong Wan Yen to purchase the stake.

MyEG said the investment in Essential Reviews would allow it to expand its business in the online space which would complement its existing commercial services.

My EG Capital also owns online advertising firm MyEG Ad Networks Sdn Bhd, a 55% stake in automotive classifieds web portal operator Car X Services Sdn Bhd, a 60% stake in online TV channel operator Hurr Tv Sdn Bhd and 60% interest in diversified media solutions provider Picasso Media Sdn Bhd.