KUALA LUMPUR (Jan 3): My E.G. Services Bhd (MyEG) rose as much as 16 sen or 7.17% after its group managing director Wong Thean Soon acquired an additional 8.5 million shares in the electronic government services provider.

At 11.55am, the stock was transacted at RM2.39 with some 20.21 million shares traded, giving it a market capitalisation of RM8 billion.

Over the past 12 months, the counter has gained about 54.57%.

According to its Annual Report 2017, Wong had a 7.23% direct stake and 31.99% indirect stake in MyEG as of Sept 29, 2017.

He then increased his direct stake to 7.74% while his indirect stake stood at 31.79% through Asia Internet Holdings Sdn Bhd. Filings with Bursa Malaysia yesterday showed that the shares were acquired on Jan 2.

Asia Internet is the single biggest shareholder in MyEG with 29.67% direct interest or 1.07 billion shares as of Sept 29, 2017.

Meanwhile, Hong Leong Investment Bank (HLIB) analyst Loui Low Ley Yee said the domestic-driven catalyst companies such as DRB-Hicom Bhd, Malaysian Resources Corporation Bhd, and Felda Global Ventures Holdings Bhd were in focus as investors were looking for opportunities within the Government-Linked Companies (GLCs) ahead of the 14th General Election (GE14).

“On the local front, we may expect exciting trading activities within GLCs, coupled with China-linked stocks, ahead of the widely expected GE14. Also, investors may be focusing on the technology sector, following the strong surge in tech giants in the US,” he said in HLIB's traders brief note today.