KUALA LUMPUR (May 3): MyEG Services Bhd's contract to provide Road Transport Department (JPJ)-related online services has been extended by three years, said Transport Minister Anthony Loke Siew Fook.  

However, the contract will no longer be exclusive, which means other service providers could also potentially offer the services, which include road tax and driving licence renewal, and summons settlement.

The existing exclusive contract for a three-year extended period was awarded in 2020 and will expire on May 22.

“We have given them (MyEG) an extension of three years, but we have made it very clear that it is not exclusive, meaning they are just one of the providers. If there are other e-government providers who want to provide services, we would consider,” Loke told a media briefing on Wednesday (May 3).

“They are just one of the service providers to the government. We allow them to be the gateway for the government as one of the options for the public to renew their licence, road tax and so forth,” he added.

In February, MyEG shares succumbed to heavy selldown after Loke announced that private vehicle owners would no longer be required to display road tax stickers on their vehicles, and carry a physical copy of their driving licence.

MyEG shares also came under selling on Feb 9, following news reports that all immigration services and processes will revert to the Immigration Department by 2025, including those being managed by third parties such as MyEG.

MyEG clarified on the same day that it has not held any meeting with Putrajaya on converging all immigration transactions under the government’s National Integrated Immigration System.

The group’s FY2022 net profit grew 26.17% to RM398.7 million from RM316 million in FY2021, driven by a one-off recognition of fair value gain in investment as a result from the listing of its investment in Agmo Holdings as well as an increase in revenue from existing concession and commercial services.

Meanwhile, MyEG  managing director Wong Thean Soon, better known as TS Wong, disposed of 14.81 million shares, representing a near 0.2% stake in the company, on Wednesday, according to a filing with the stock exchange.

The sale at 82 sen per share arose from the "crossing of shares pursuant to a financing arrangement', the company said.

Following the transaction, Wong has a direct interest of 12.09% (895.36 million shares) and indirect interest of 18.37% (1.37 billion shares) in MyEG.

MyEG shares closed the day unchanged at 82 sen, valuing the company at RM6.13 billion.