Interesting article from the Edge.

THIS month and next, MyEG Services is set to introduce two new services — the e-immigration renewal and customs tax monitoring services, which will set the next stage of growth for the company.

MyEG is Malaysia's dominant e-services provider, providing a wide range of government-to-citizen (G2C) services. Its earnings are poised to grow rapidly in the next few years, driven by its road tax service, the new services and increasing network coverage. MyEG has grown its e-service centres and e-service kiosks network significantly, particularly in Sabah and Sarawak.

The company has an attractive business model and a strong cash-rich balance sheet — making it ideal for investors who want a good balance of defensive and growth qualities.

The underlying market for its services is very large, with relatively resilient, and recurring, demand. Demand is also being supported by the growing popularity of online services and transactions for convenience and cost reasons.

We are maintaining our forecasts and expect net profit to rise by 45% to RM24.9 million in FY10 and 28% to RM31.9 million in FY11. At 43 sen, the stock's P/E valuations are inexpensive at 10.4 and 8.1 times for FY10-11 earnings, especially relative to its strong growth potential.

http://www.theedgemalaysia.com/insider-asi...-services-.html

Yeah, it better go up.. just bought a few hundred thousand shares.

Rm0.40 is your target? i hope it can reach RM0.60

It has gone up 8% today as at 935am

First interim tax-exempt dividend of 0.5 sen per 10 sen ordinary share in respect of the financial year ending 30 June 2010.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ]
as from : [ 21 April 2010 ]

2) The last date of lodgement : [ 23 April 2010 ]

3) Date Payable : [ 21 May 2010 ]

Dividend is not good. Dont buy this counter for dividend. But this counter has its potential as mentioned previously.

The last time the price went up so high, above 50 sen, was due to strong recommendation by an online finance blogspot.

Haha. There's a disclaimer at the bottom of his blog, I think. It's a good counter to keep, hope to sell at 0.60.

Thanks. Read that article before and bought the shares 2 weeks ago. Hopefully dont have to wait to long for significant upside.

Wow.. MyEG 54 sen as at 430pm!

Dont know if there's any news. By the way it's 60sen now as at 1010am

I think 'fried' by some broker...

I was informed Jupiter pushed it up, dont know whether it's true. Anyhow, I liquidated 50% for 40% profit margin.. I think it's kind of toppish..

*Depressed*. Sold all at 60

I am a bit skeptical of goldman sachs becoming a substantial holder. It's very easy for 'related party' to go open an account with goldman sach and buy back his own company's (MyEg) shares. It will look like GS is a substantial holder and bring more hotnews to MyEg.

Difficult to find out.. it's speculated that a lot of FDI is done by local business parking money overseas (or politically linked businessmen or politicians themselves) and used the money to buy back their own companies. It's one way of controlling the company without having your name seen.