MyEG secures Immigration Department contract extension worth RM208m

Foreign workers queue up to be tested for Covid-19 at Kampung Baru, Kuala Lumpur April 16, 2020. In a filing with Bursa Malaysia today, MyEG Services Bhd said the services are in relation to the provision of online renewal of temporary employment pass for foreign workers for the Immigration Department of Malaysia. — Picture by Yusof Mat Isa
Foreign workers queue up to be tested for Covid-19 at Kampung Baru, Kuala Lumpur April 16, 2020. In a filing with Bursa Malaysia today, MyEG Services Bhd said the services are in relation to the provision of online renewal of temporary employment pass for foreign workers for the Immigration Department of Malaysia. — Picture by Yusof Mat Isa

KUALA LUMPUR, July 1 — MyEG Services Bhd has been awarded with the extension of Immigration Related Services by the Ministry of Home Affairs for a period of three years from May 23, 2020 until May 23, 2023, estimated to be worth RM208 million.

In a filing with Bursa Malaysia today, it said the services are in relation to the provision of online renewal of temporary employment pass for foreign workers for the Immigration Department of Malaysia.

However, it said the terms of renewal are not stated in the letter and an agreement to formalise the extension would be signed and announced by the company in due course.

“The board is of view that the immigration-related services is in the best interest of the company and is expected to contribute positively to the earnings and net assets per share of the company for the financial years ending December 31, 2020 onwards,” it said. — Bernama

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