MYEG ... Dec09

E-government services provider, MY E G Services will allocate RM40 million for research and development (R&D) activities for its on-line tax monitoring system over the next two years.

Currently, they are doing a pilot test run for class C and D of the services sector, including restaurants and entertainment outlets. The system is 85 per cent complete. It hopes to roll-out the service by the first half of next year (2010) in the Klang Valley and recoup the investment in two years.

MY E.G. Services is expecting a double-digit growth in the current financial year ending June 30, 2010, due to strong demand.

Its latest online road tax and auto renewal service and auto insurance renewal services launched in 2008, contributed 10 per cent to revenue in the last financial year.

MY E.G. Services posted a higher pre-tax profit of RM17.315 million for the financial year ended June 30, 2009 compared with RM14.825 million in the same period in 2008. Its revenue rose to RM52.48 million from RM43.821 million previously.