KUALA LUMPUR (March 31): MyEG Services Bhd's share price rose as much as 7.5% in early trade following a deal with the General Administration of Customs of China (GACC) to jointly provide a full suite of cross-border trade facilitation services that include certificates of origin on MyEG's blockchain platform, Zetrix.

The scope of the agreement covers international exports going into China, and MyEG will, via Zetrix, provide the digital service to connect to China's blockchain platform.

As at 9.45am, MyEG shares stood at 78.5 sen with 75.13 million shares traded.

MyEG was also in the news recently after group managing director Wong Thean Soon gradually increased in his stake and a recent share buyback exercise by the group.

In the most recent shareholding changes filing to Bursa Malaysia on March 29, Wong bought five million shares or 0.068% in the e-government service provider via Asia Internet Holdings Sdn Bhd, for 72 sen each.

The direct deal increased Wong’s stake, both direct and indirect, to 30.63%.  

The change in interests excludes the 71.27 million shares bought back by the company, which are retained as treasury shares, the filing said.

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.

The most recent share buyback announced by the company was on March 22, where it bought two million shares at 72.5 sen a piece.