KUALA LUMPUR (March 3): MyEG Services Bhd managing director Wong Thean Soon (TS Wong) and Retirement Fund Inc (KWAP) have increased their stakes in the e-government service provider.

Wong bought two million shares or a 0.03% stake in the group at 73 sen a share, or a total of RM1.46 million, on Friday (March 3), according to MyEG's filing with Bursa Malaysia.

This increased the MyEG co-founder's stake to 30.014% from 29.987%.

Wong has recently been acquiring MyEG shares after the counter fell on selling pressure, following a news report that all immigration services and processes will revert to the Immigration Department by 2025, including those being managed by third parties such as MyEG.

From Feb 7 to March 3, Wong bought a total of 26,000 shares for RM18.31 million.

In a filing to Bursa Malaysia on Feb 7, MyEG said it had not held any meeting with the Home Ministry or the Immigration Department on the intention to converge all of the department's transactions under a new system called the National Integrated Immigration System.

Meanwhile, KWAP bought 153,000 MyEG shares on Thursday, increasing its stake in the group to 7.554% from 7.537%. The transaction was made through KWAP's fund manager on the open market.

MyEG’s share price closed up one sen or 1.38% at 73.5 sen on Friday, giving the group a market capitalisation of RM5.46 billion.