- Veröffentlicht: 04. Dezember 2018
With investors concerned about its earnings prospects after the change of government at home, MyEG Services Bhd (MyEG) is eyeing e-government projects in Indonesia. MyEG announced it is buying a 40% stake in e-government service provider PT Cartenz Technology Indonesia for US$10 million (RM41.9 million).
It seems that concerns about MyEG’s ability to secure local e-government projects have prompted it to venture beyond its home turf. This is the third joint venture abroad for the group, after being active in the Philippines since last year and it has also set foot in Bangladesh.
In a statement, MyEG said its wholly-owned unit My EG (Indonesia) Sdn Bhd yesterday signed a memorandum of understanding with Cartenz, marking the group’s entry into the Indonesian e-government space.
It said the strategic partnership is subject to the fulfilment of relevant terms and conditions, and both companies will jointly implement real-time monitoring of business transactions for tax computation purposes across Indonesia.
Headquartered in Jakarta, information and communications technology company Cartenz is principally involved in providing information systems to all levels of government agencies for a more efficient management, including in the administration of regional taxes.
To date, Cartenz has deployed its tax monitoring system to some 5,000 business outlets and provided its tax revenue system to 76 local governments, including Jakarta and Bali.
Given Indonesia’s vast economic potential, the group aims to deploy the system to a million outlets within three years, said MyEG managing director TS Wong.
MyEG’s share price has tumbled 55% year to date. MyEG shares closed down one sen or 0.89% at RM1.11 yesterday, with a market capitalisation of RM3.92 billion. Some 54.79 million shares were traded yesterday.
On Oct 19, MyEG was in the limelight again for the wrong reason. It was mentioned in the charges brought against former deputy prime minister Datuk Seri Dr Ahmad Zahid Hamidi. Ahmad Zahid had allegedly helped a company called Mastoro Kenny IT Consultant & Services obtain projects from MyEG in return for a payment.
However, MyEG denied making any payment to anyone to secure concessions from the government. It has also stressed that it had no knowledge of Mastoro Kenny IT Consultant & Services nor had it ever been in contact with any representatives from the company.
Autor(en)/Author(s): Syahirah Syed Jaafar
Quelle/Source: The Edge Financial Daily, 27.11.2018