Additionally, the company’s role as the provider of online services for the immigration department has also been extended.

The e-government services provider stated in a Bursa Malaysia filing today that the details of the extension would be finalised through further discussions with the government.

The agreement to formalise the extension will be signed at a later stage, following the completion of these discussions.

“The board is of the view that the extension 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 year ending Dec 31, 2023 onwards,” it said in the filing.

The company stated that, currently, it does not anticipate any risks associated with the extension.

Furthermore, none of the directors, major shareholders, or individuals connected to them have any direct or indirect interests in relation to the extension.

The company also mentioned that it will promptly make the necessary announcements to Bursa if there are any significant developments regarding the extension that require disclosure under the Main Market Listing Requirements.

As of market close today, MyEG’s share price was down 1.5 sen or 2.05% at 71.5 sen, giving it a market capitalisation of RM5.35 billion.