Stake buy to strengthen MyEG’s position

“MyEG believes the investment in S5 will provide synergy to its existing and prospective service offerings, especially within the immigration space in Malaysia. “Moreover, S5 should be able to leverage MyEG’s track record, experience and capabilities as the flagship e-government service provider in Malaysia, ” said CGS-CIMB

PETALING JAYA: MyEG Services Bhd’s move to acquire 10% equity in S5 Holdings Inc is expected to strengthen the company’s position in the immigration space and as the preferred e-government services provider in Malaysia.

However, CGS-CIMB is keeping its earnings forecast pending completion of the deal.