PETALING JAYA, Feb 19 — Stocks that are politically-linked have started showing signs of strength despite volatile global market as election fever kicks in.

The Star reported that one such company is MyEG Services Bhd which started out as a government concession but have grown to offer its service in a wide range of things.

In January alone, it launched two new services, including a job-matching and placement service to match Malaysian employers with foreign workers, and secondly, it received green light from Bank Negara to issue electronic money via iPayEasy e-wallet, the daily reported.

In addition, MyEG’s share price also moved with that same sort of gusto.

On Jan 2, Asia Internet Sdn Bhd, MyEG’s largest shareholder acquired another 8.5 million shares in MyEG, totaling of 1.09 billion shares or 30.12 per cent stake in the company.

KUB Malaysia Bhd is another diversified government-linked company which has seen some activity, where stocks continues to accumulate some interest though its allure has decreased over the last few years due to staid earnings.

For the nine months to Sept 30, 2017, its net profit increased to RM17.16 million from RM15 million previously, and its revenue jumped to RM415.2 million from RM364.45 million.

In January, KUB completed the acquisition of a brownfield oil palm plantation land in Kinabatangan, Sabah, from Kwantas Corp Bhd for RM100.45 million.

The land is expected to contribute 31 per cent to the group’s agro arm revenue and about 3 per cent to the group.