KUALA LUMPUR (Oct 22): My E.G. Services Bhd (MyEG) is teaming up with Universiti Malaya (UM) to promote and develop blockchain research, as well as implement an e-wallet on its campus.

The two parties signed a memorandum of understanding (MoU) today, MyEG said in a stock exchange filing.

"The collaboration may include but not be limited to knowledge exchange and mutual consultations (relating) to the organising of events, conferences and education activities in the fields of blockchain and e-wallet implementation," the group said.

On top of that, the group will work with UM to develop and implement educational material, promote awareness events, organise joint research projects and support talent development programmes in these fields.

It will also work with the university on the development and delivery of marketing and educational campaigns and materials on the benefits of blockchain and e-wallet technology, MyEG said. This is targeted at creating stakeholder awareness, consideration and demand.

"The parties themselves will bear any costs that arise during the implementation of the MoU, unless otherwise agreed for each individual case and will be agreed upon in separate contracts," MyEG said without elaborating.

The MoU is valid for a five-year period and is subject to revision upon mutual agreement, it added.

MyEG said its earnings and net assets per share for its financial year ending Sept 30, 2019 are not expected to be materially affected by the signing of the MoU.

Shares in the group gained 25 sen or 22.12% to close at RM1.38 today after hitting limit-down last Friday, leaving the group with a market capitalisation of RM4.98 billion.