MyEG, subsidiary get three-year contract extension from JPJ

KUALA LUMPUR: The Road Transport Department (JPJ) has extended the services contracts of My EG Services Bhd (MyEG) and its wholly-owned unit, MY EG Sdn Bhd (MYEGSB), for three years.

The extended contracts will run from May 23, 2023 to May 22, 2026.

MyEG said the two companies each received an appointment letter from JPJ today to confirm that both are the "collection agents for the provision of vehicle registration services, driver and vehicle licensing and electronic payment of summon services for a three-year period.”

"The estimated total value of the extension will be dependent on the number of transactions performed over this period. An agreement to formalise the extension will be signed and announced by the company in due course," it said in a filing with Bursa Malaysia today.

MyEG said the extension is expected to contribute positively to the earnings and net assets per share of the company for the 2023 financial year onwards.