Umno man set to reap RM137m from MyEG share hike, PKR rep alleges

PKR Semambu state assemblyman Lee Chean Chung (left) and Sungai Petani MP Datuk Johari Abdul hold a press conference at the Centre for Reform Democracy and Social Initiatives. ― Picture by Zurairi AR
PKR Semambu state assemblyman Lee Chean Chung (left) and Sungai Petani MP Datuk Johari Abdul hold a press conference at the Centre for Reform Democracy and Social Initiatives. ― Picture by Zurairi AR

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PUCHONG, Jan 17 ― PKR lawmaker Lee Chean Chung claimed today that an Umno man will stand to profit some RM137 million from the 19 per cent hike in MyEG’s share price, which rose following Putrajaya’s decision to outsource the registration of migrant workers to the e-government services provider.

Citing the firm’s announcement in Bursa Malaysia yesterday, the Semambu state assemblyman pointed out that Tanjung Umno division deputy chief Datuk Raja Munir Shah Mustapha, who is MyEG’s executive director, now holds 31.1 per cent stake in the company.

“The 19 per cent rise in MyEG share price these few days have given a windfall in a RM137 million profit on paper for Raja Munir,” Lee, who is also the PKR Youth information chief, told the press.

Lee explained that the closing price of MyEG yesterday was RM2.50, a 19 per cent hike from its January 2 share price of RM2.10.

“This has given a market capitalisation of RM463 million to MyEG,” Lee added.

Raja Munir, who was formerly Penang Umno information chief, holds 374,135,796 of MyEG’s shares as at January 16.

Besides Raja Munir, Umno’s Lenggong MP Datuk Shamsul Anuar Nasarah is also on MyEG’s board of directors but does not hold any shares.

Lee said today that in their report to the Malaysian Competition Commission (MyCC), he and party treasurer Datin Paduka Tan Yee Kew had asked Home Minister Datuk Seri Ahmad Zahid Hamidi to help investigations.

On January 7, PKR leaders demanded that Putrajaya explain its decision to outsource the registration of migrant workers to MyEG, which they claimed will rake in an estimated annual profit of nearly RM100 million.

The government had on January 5 announced a new policy that requires employers to register details of their foreign employees through MyEG instead of doing it manually at the Home Ministry’s offices nationwide, compelling employers to pay the RM38 in fees the portal charges for each worker.

Counter registrations were previously free of charge.

Following public outcry over the introduction of a fee for the permits previously issued without charge at Immigration Department branches, MyEG explained last Saturday that the payment was also used to fund the compilation, verification, maintenance, and analysis of a database on migrant workers.

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