KUALA LUMPUR (March 4): My EG Services Bhd's (MyEG) share price fell by as much as 5.8% or 13 sen to RM2.11 in morning trade on Bursa Malaysia today amid broader market losses, despite the electronic government services specialist proposing a final dividend of 1.7 sen a share and reporting fourth-quarter and full-year net profits yesterday.

At 11.30am, MyEG's share price pared its loss to RM2.14, but was still down by 10 sen or 4.46%, after 33.38 million shares traded.

Earlier, the stock opened 11 sen or 4.91% lower at RM2.13 against the previous day's closing price of RM2.24.

At RM2.14, it had a market capitalisation of RM7.86 billion.

Yesterday, MyEG said in filings with Bursa that the company was recommending a final dividend of 1.7 sen a share for the financial year ended Dec 31, 2020 (FY20).

The company also reported a net profit and a revenue of RM75.51 million and RM149.89 million respectively for the fourth quarter ended Dec 31, 2020 (4QFY20), which was higher than the net profit of RM70.74 million and the revenue of RM136.1 million posted for 3QFY20.

There were no year-on-year figure comparisons 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.

Meanwhile, cumulative full FY20 net profit and revenue stood at RM268.16 million and RM532.06 million respectively.

On prospects, the group said it was cautiously optimistic about its long-term outlook, and remained upbeat as it continued to introduce innovative services in Malaysia and other countries.