KUALA LUMPUR (Oct 5): My EG Services Bhd has added a blockchain-based payroll management software to its line of services, as it expands its core focus into deploying blockchain architecture innovations.

The 'PayMe' software, caters to companies with sizeable workforce and dynamic remuneration, and will enable employers to record and manage overtime with better accuracy and efficiency, MyEG said in a stock exchange filing today.

The software is the latest in an ongoing series of innovations introduced to help businesses better manage their labour force, and complements the group's existing offerings that among others include foreign workers’ recruitment services, online renewal of work permits and insurance.

MyEG said the software would soon be piloted at selected sites and offered to its customers on a monthly subscription basis.

The group aims to sign up its existing corporate customers of its various services as users of PayMe.   

“Leveraging the benefits of blockchain architecture is one of MyEG's core focus presently. We believe that MyEG is well positioned to deploy industry-wide blockchain solutions that maximise the potential of the distributed ledger," its managing director Wong Thean Soon said in a statement accompanying the filing.

At market close today, shares in the e-government services provider fell seven sen or 4.17% to RM1.61, giving it a market capitalisation of RM5.72 billion.