Friday 29 Mar 2024
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KUALA LUMPUR (Sept 7): Shares of MY E.G. Services Bhd (MyEG) traded unchanged at RM2.58 this morning, despite being appointed to undertake the registration of illegal foreign workers by the Immigration Department.

The online service provider rose 2 sen or 0.78% earlier, before cutting down some of its gains.

As at 11:05am, 1.42 million shares were traded, giving it a market capitalisation of RM3.12 billion.

MyEG (fundamental: 2.7; valuation: 1.1) announced last Friday (Sept 4) that a consortium of companies, of which it is a part of, has received an appointment letter from the Immigration Department to undertake the registration of illegal foreign workers in the country.

The project will be an extension of the scope of service provided by the company to the Immigration Department.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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