My EG Services Berhad Annual Report 2019

ANNUAL REPORT 2019 15 MANAGEMENT DISCUSSION AND ANALYSIS (CONT’D) "MTP JO +VMZ UPXBSET CPMTUFSJOH PVS QSFTFODF JO *OEPOFTJB XF FOUFSFE JOUP BO BHSFFNFOU UP TVCTDSJCF B equity stake in Indonesian e-government solutions company PT Cartenz Inti Utama (“ Cartenz ”). MYEG and Cartenz will continue to work together to secure and implement government mandates for the real-time monitoring of business transactions for tax computation purposes across Indonesia. 8JUI UIF PO HPJOH QJMPU QSPHSBNNF JO +BLBSUB CFJOH XFMM SFDFJWFE UIF (SPVQ IBT TJODF CFFO DPOUSBDUFE CZ UIF provincial governments of seven other Indonesian provinces to deploy, on a chargeable basis, the tax monitoring system in up to 30 cities. Pilot installations have commenced across these seven provinces and with this, our roll-out in Indonesia is likely to be much faster, and entail lower expenditure, than initially anticipated. The expansion of the tax monitoring system to more regions in Indonesia represents an important milestone for MYEG, strengthening the Group’s’ position as the leading e-government services provider in Indonesia. It widens the Group’s presence in the country’s retail sector and brings us closer to realising our ambitions of having a market-leading footprint of installations within the next few years. In November 2019, with the launch of our first phase of e-government services via IPAY MYEG in partnership with Land Bank of the Philippines, we firmly established ourselves as the premier one-stop e-government portal in the country of over 100 million people. This development comes after the many prior successes in establishing strategic collaborations with a wide range of partners, both government and private entities in the Philippines. They include the National Bureau of Investigation’s online payment and clearance system, payment gateway solutions for Quezon City and other local government units and government agencies, and the marketing of digital financial services for CIMB Bank Philippines, Inc. Meanwhile, in Bangladesh, the Group’s venture into the the country is still at a nascent stage. Nevertheless, the considerable inroads we have made thus far in Indonesia and the Philippines reinforces our confidence in our ability to rollout services to Bangladesh’s over 160 million strong and fast-growing population. Our presence in Bangladesh was cemented through a 40% equity interest in MY EG (BD) Ltd, held via the Company’s wholly owned subsidiary MYEG (Bangladesh) Sdn Bhd. NEW SERVICES LAUNCHED -BVODIFE JO +BOVBSZ .:%"5" 44. TFSWJDFT JT B EJHJUBM TFSWJDF UIBU BMMPXT UIF QVCMJD UP BDDFTT JOGPSNBUJPO on companies and businesses incorporated and registered in Malaysia via the MYEG portal. Services available via MYDATA-SSM include online company search features as well as retrieval of business profiles and provision of certified true copies of Companies Commission of Malaysia (“ CCM ”) certificates and forms. MYDATA-SSM services allow for a seamless user experience while creating an additional channel for the public to access company information. At the same time, MYDATA-SSM services complements the online search for bankruptcy and winding up which we offer. As part of the Group’s continuous commitment in providing added convenience to users by enhancing access to essential government services, a number of new online services were introduced over the course of FP2019. One such service is the zakat salary deduction scheme, an initiative to improve the monthly zakat payments management process by employers on behalf of their employees. Among other new services, online renewal of Dewan Bandaraya Kuala Lumpur licenses, namely Premise License, Composite License and Premise Signboard License, was also launched in FP2019. PERFORMANCE