MyEG’s acquisition of S5 stake draws interest

Synergistic value: File picture shows MyEg online office at the Immigration Department in Putrajaya. MyEG has said that S5’ solutions and systems are complementary to its existing and prospective service offerings, especially within the immigration space in Malaysia.

MyEG Services Bhd’s announcement this week of an acquisition of a little-known company has piqued interest.

MyEG said it will purchase 118 million shares or a 10% stake in S5 Systems Sdn Bhd from Merrington Assets Ltd (MAL) for a total purchase consideration of RM90mil.