MyEG and Celcom extend MoU for another year

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KUALA LUMPUR (Sept 2): MyEG Services Bhd’s tie-up with Celcom Axiata Bhd to facilitate exploration and collaboration in the areas of e-government services delivery has been extended for another year.

In a filing with Bursa Malaysia, MyEG said the parties have mutually agreed to extend the memorandum of understanding (MoU) signed between the companies on Sept 2, 2013 and Sept 3, 2014 by another year.

The MoU paves the way for both companies to jointly explore possible business opportunities and collaboration in the areas of e-government services delivery and joint go-to-market for specific target market segments.

MyEG had said the MoU will form the basis of consensus of both MyEG and Celcom to examine the feasibility of the project until such time as the definitive agreement is entered into, which will contribute positively to the future earnings of the group.

MyEG (fundamental: 2.7; valuation: 1.1) share price dropped seven sen to RM2.53, with a market capitalisation of RM3.035 billion.

(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.)