My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 22 0VS NBOBHFNFOU JT QMFBTFE UP BOOPVODF UIBU EVSJOH PVS &YUSBPSEJOBSZ (FOFSBM .FFUJOH PO "VHVTU UIF (SPVQ T TIBSFIPMEFST WPUFE UP BQQSPWF TFWFSBM BOOPVODFE QSPQPTJUJPOT QVU GPSXBSE JO +VOF DIJFG PG XIJDI XBT UIF approval of the proposed diversification of the existing business activities of MYEG and its subsidiaries to include the provision of financial services. As we intend to expand our Group’s existing auto financing services and provision of personal and business financing solutions along with introducing digital banking services, our management anticipates that MYEG’s financial services PGGFSJOHT NBZ QPUFOUJBMMZ DPOUSJCVUF PS NPSF PG UIF OFU QSPàUT PG PVS (SPVQ NPWJOH GPSXBSE Additionally, the Group implemented the approved establishment of a DRP that gives shareholders the option to DIPPTF UP SFJOWFTU UIFJS DBTI EJWJEFOE CZ SFDFJWJOH OFX PSEJOBSZ TIBSFT JO .:&( 0O %FDFNCFS XF BMTP implemented our employees’ share option scheme (“ ESOS u PG VQ UP PG UIF UPUBM OVNCFS PG JTTVFE TIBSFT PG MYEG (excluding any treasury shares) at any point in time over the duration of the ESOS. 5IFTF JOJUJBUJWFT BGàSN UIF (SPVQ T DPNNJUNFOU UPXBSET TVTUBJOBCMF MPOH UFSN TVDDFTT CZ DBQJUBMJTJOH PO OFX BOE emerging trends to offer multiple avenues of opportunity for stakeholders to forge a deeper commitment in MYEG’s growth prospects. .:&( BMTP BOOPVODFE B QSPQPTFE QMBDFNFOU PG VQ UP BCPVU PG UIF UPUBM OVNCFS PG JTTVFE TIBSFT FYDMVEJOH USFBTVSZ TIBSFT PG .:&( PO %FDFNCFS 5IJT FOUBJMFE UIF JTTVBODF PG VQ UP OFX PSEJOBSZ TIBSFT in MYEG, with the first tranche of the placement already completed following the listing and quotation of 120,000,000 placement shares on the main market of Bursa Securities on 17 December 2020. The total gross proceeds raised from UIJT USBODIF PG QMBDFNFOU JT 3. NJMMJPO With MYEG’s successful launch of the MySafeTravel digital health pass system for travelers to ease safer entry into the country, and the facilitation of payment collections and / or health screenings on the behalf of key government stakeholders, the Group is poised to tap into this demand for more online healthcare amenities that serve the best interest of everyone in need of these services. MYEG has also recently proposed to undertake a bonus share issue exercise as well as proposed diversification into IFBMUIDBSF SFMBUFE TFSWJDFT BT BOOPVODFE JO .BSDI 'PS UIF QSPQPTFE CPOVT JTTVF UIF (SPVQ QSPQPTFE UP JTTVF VQ UP CJMMJPO OFX .:&( PSEJOBSZ TIBSFT PO UIF CBTJT of one bonus share for every one existing MYEG ordinary share held. Meanwhile, the proposed diversification is aimed at expanding the Group’s revenue by leveraging on the brand’s existing online platforms to better serve the public on the healthcare front through related healthcare service offerings. 6MUJNBUFMZ XF BSF JO WJFX UIBU .:&( T LFZ CVTJOFTT TUSFOHUIT FMFWBUFE CZ SPCVTUMZ NBQQFE PVU TUSBUFHJD QSJPSJUJFT will continue to shepherd the Group through FY2021. We will continue to work closely with the government and other TUBLFIPMEFST UP NPWF GPSXBSE QPTU $07*% JO ': The Board retains its cautiously optimistic viewpoint that, excluding any unanticipated conditions on a global or regional scale, MYEG will remain on a positive growth trajectory. MANAGEMENT DISCUSSION AND ANALYSIS REVIEW OF THE MACRO-OPERATING ENVIRONMENT (CONT’D)