BIMB Securities maintains 'buy' on MyEG

BIMB Securities maintained a target price of RM1.70 on the stock, which implies 21 times and 16 times price-earnings of FY20 and FY21 respectively

KUALA LUMPUR: BIMB SEcurities Research has maintained its "buy" call on MyEG Services Bhd following news of its acceptance of a two-year Health Ministry contract to undertake the provision of online payment of Covid-19 screening tests and quarantine charges for inbound travellers.

There will be no processing fee charges under the project, although MyEG will monetise via Covid-19 screening tests through its collaboration with panel clinics and ancillary services.