My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 120 DIRECTORS’ REPORT The directors hereby submit their report and the audited financial statements of the Group and of the Company for the financial year ended 31 December 2020. PRINCIPAL ACTIVITIES The Company is principally engaged in the businesses of development and implementation of the Electronic Government Services project and the provision of other related services for the Electronic Government Services project, as well as investment holding. The principal activities of the subsidiaries are set out in Note 5 to the financial statements. RESULTS The Group The Company RM’000 RM’000 Profit after taxation for the financial year 267,194 276,630 Attributable to:- Owners of the Company 268,656 276,630 Non-controlling interests (1,462) - 267,194 276,630 DIVIDENDS Dividends paid or declared by the Company since 31 December 2019 are as follows:- RM’000 In respect of the financial period ended 31 December 2019 A final dividend of 2.0 sen per ordinary share, approved by the shareholders at the Annual General Meeting held on 6 August 2020, paid on 5 November 2020 69,053 In respect of the financial year ended 31 December 2020 A first interim dividend of 0.50 sen per ordinary share, paid on 5 November 2020 17,263 86,316 At the forthcoming Annual General Meeting, a final dividend of 1.7 sen per ordinary share amounting to approximately RM62.42 million in respect of the current financial year will be proposed for shareholders’ approval. The financial statements for the current financial year do not reflect this proposed dividend. Such dividend, if approved by the shareholders, will be accounted for as a liability in the financial year ending 31 December 2021. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year other than those disclosed in the financial statements.