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KUALA LUMPUR: My E.G. Services Bhd (MyEG) remains cautiously optimistic about its long-term outlook, as it continues to introduce innovative services both in Malaysia and globally.
The group plans to continue introducing innovative services by leveraging new technologies, particularly artificial intelligence (AI).
It aims to integrate AI with its blockchain and Web 3.0 applications and infrastructure in Malaysia and globally, driving its organic growth in the financial year ending December 31, 2025 (FY25).
In the fourth quarter ended Dec 31, MyEG’s net profit rose 20.6% to RM181.1mil, or earnings per share of 2.40 sen compared with RM150.2mil, or 2.00 sen in the same quarter a year ago.
Revenue for the quarter jumped 32.2% to RM293.5mil against RM222mil a year prior.
MyEG attributed the higher revenue and profit to fees from Web3 applications on the Zetrix blockchain platform, such as ZTrade, ZCert, and Digital ID services, along with income from the sale of Zetrix tokens.
For FY25, MyEG posted a net profit of RM697.5mil, up 43% from RM487.6mil last year while revenue jumped 31.3% to RM1.02bil.
It has proposed a final dividend of 2.49 sen per ordinary share, subject to shareholders’ approval at the upcoming annual general meeting, the date of which will be announced later.
In the notes accompanying its financial results, MyEG said it is collaborating with MIMOS Technology Solutions Sdn Bhd to develop and operate components of the Malaysia Blockchain Infrastructure (MBI) using Zetrix’s blockchain technology.
“MBI can be used to protect user privacy and data confidentiality of off-chain information, and to enable ownership specification, which would potentially serve as a national digital identity,” it said
“With MBI and its own Layer 1 blockchain platform namely Zetrix coming online, MyEG continues to commercialise innovative services as Web 3.0 becomes widely adopted. Furthermore, Zetrix
has also been integrated with China’s national blockchain platform, namely ‘Xing Huo’ which will allow ease of cross-border trade to take place and it will be the group’s foray into the global market.
“In addition, with AI technology becoming widely adopted, the company intends to leverage this evolving technology to develop autonomous applications which are able to operate and perform mundane and repetitive tasks without any human supervision,” MyEG said.
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