MyEG says fine unlikely to hurt earnings

PETALING JAYA: The fine imposed by the Malaysia Competition Commission (MyCC) on MyEG Services Bhd for allegedly misusing its dominant position in the provision and management of online foreign workers work permit renewal (FWPR) services, is not likely to impact the company’s future earnings.

MyEG, in a filing with the stock exchange yesterday and in reference to The Star Online’s article dated Oct 7, said the RM307,200 fine for infringing the Competition Act 2010 was not expected to have significant financial impact, but couldn’t verify the operational shock at this point, pending remedial actions finalised with MyCC.