Selling may be over for MyEG, George Kent

  • Markets
  • Friday, 18 May 2018

A MyEg service counter. - Filepic

KUALA LUMPUR: Shares of MyEG Services and George Kent, which had been battered over the past four trading days, managed to stage a mild rebound early Friday as investors viewed the selling as overdone.

AT 9.01am, government service provider MyEG was up 5.5 sen to 96 sen with 6.33 million shares done. Its call warrants C36 was flat at 1.5 sen.

George Kent gained nine sen to RM1.60 with 951,300 shares done. George Kent and MRCB are the project delivery partner for the Light Rail Transit from Bandar Utama to Klang.

The FBM KLCI rose 5.09 points or 0.27% to 1,859.53.

StarBiz reported MyEG managing director and single largest shareholder Wong Thean Soon saying that he does not see any reason for the new Pakatan Harapan government not to continue using MyEG as the service provider for e-government services.

Presently, MyEG’s various projects are grouped under the e-government concession which was awarded in the year 2000.

“MyEG, as a service provider to the government, has to work for the government of the day,” he said.
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