MyEG falls 7% on profit taking

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KUALA LUMPUR (May 19): MyEG Services Bhd fell as much as 16 sen or 7% on profit taking and ahead of the electronic-government service provider's third-quarter results announcement this month. 

The heavily-traded MyEG shares followed the company's confirmation last Wednesday that it was negotiating with food review website Eat Drink KL's shareholders to acquire a stake in the website.

Today, MyEG shares fell to their lowest so far at RM2.03. At 3:36pm, the stock pared losses at RM2.15, with a trading volume of about 53 million shares.

MyEG was the fourth most active stock on Bursa Malaysia. The stock was traded between RM2.03 and RM2.23 today.

Over the last one year, MyEG shares rose to their intraday high at RM2.37 on May 9 this year, after falling to their intraday low at RM1.14 on July 11, 2016.