KUALA LUMPUR (May 31): My EG Services Bhd (MyEG)'s indirect subsidiary MYEG Auto Assist Sdn Bhd has teamed up with AIG Malaysia Insurance Bhd to provide road care assistance to AIG's policyholders.

In a filing with the stock exchange, MyEG said the two parties have entered into a two-year service agreement.

"The board of directors is of the view that the agreement is in the best interest of the company and is expected to contribute positively to the earnings and net assets per share of the company for the financial years ending June 30, 2018 onwards until the expiry of the agreement," the group said.

MyEG shares closed up 12.5 sen or 16.3% to 89 sen today, giving a market capitalisation of RM3.17 billion. Year to date, its share price has slumped by 60% from RM2.23 on Dec 29, 2017.