KUALA LUMPUR (March 3): MyEG Services Bhd said net profit rose 6.74% to RM75.51 million in the fourth quarter ended Dec 31, 2021 from RM70.74 in the preceding quarter, boosted by revenue from Covid-19 health screenings, and online motorcycle insurance and road tax renewal service. 

Quarterly revenue increased 10.13% to RM149.89 million from RM136.10 million previously, as the group witnessed increased revenue contribution from its screening and accommodation arrangement service for inbound travellers.

There were no comparisons on year-on-year numbers due to a change in the group’s financial year-end from Sept 30 to Dec 31, the group said in a filing with Bursa Malaysia.  

MyEG declared a final dividend of 1.7 sen per share.  

For the full-year period, MyEG reported a net profit of RM268.16 million, on revenue of RM532.06 million. 

The group said it is cautiously optimistic on its long-term outlook,  and remains upbeat as it continues to introduce innovative services in Malaysia and other countries, where it has regional presence.  

“The Covid-19 pandemic has brought unfavourable impacts to economies in the world and Malaysia is not spared too. Whilst this pandemic is ongoing, we are sanguine that our business is resilient and will present to us new opportunities,” it said. 

MyEG said throughout 2020, the group had introduced innovative online services such as Covid-19 health screening, new concession services including the online renewal of motorcycle insurance and road tax, as well as online renewal of competent driving licence.  

Through MySafeTravel, MyEG also provided health screening and quarantine services for inbound travellers to the country. 

Shares of MyEG settled three sen or 1.36% higher at RM2.24 today, giving the group a market capitalisation of RM8.2 billion. Since the beginning of the year, the stock has risen by 16.67%.