My EG Services Berhad Annual Report 2019

MY E.G. SERVICES BERHAD [Registration No. 200001003034 (505639-K)] 18 MANAGEMENT DISCUSSION AND ANALYSIS (CONT’D) Through technology, we can contribute towards the development of the local industry’s value chain and capabilities, and via talent development, we are contributing to the creation of a highly skilled, professional workforce-- knowledge workers that are much in need to spur the national digital transformation agenda. MYEG will continue to invest in technology development for the benefit of the nation, industry and stakeholders. Constructive engagement with the government is also a key pillar of success. In this respect, the Group continues to closely monitor changes in government policies or legislation. These may potentially impact our ability to create value. We consistently engage governments and related stakeholders such as ministries and agencies to ensure we maintain a firm grasp of government aspirations. Our fundamental aim remains to pursue and enhance collaboration with the government of the day in a spirit of transparency to support the implementation of its policies. As we provide services across a wide spectrum of the economy, any significant shift in economic direction may potentially impact demand for our services. We continue to closely monitor these trends and have developed mitigation plans to address these concerns. For detailed information, kindly refer to our risks table on pages 37 to 38 of this Annual Report. The Group welcomes the timely efforts by the Malaysian government (“ Government ”) to stimulate the development of digital banking and digital assets in the country and are heartened by the release of the respective draft frameworks and guidelines. Our optimism stems from the vast potential that these technologies hold in transforming the delivery of financial and related services. As the country’s leading digital company, MYEG looks forward to lending its long-standing experience and proven expertise to support the government’s digital agenda. We intend to leverage on the emerging opportunities in the digital asset and digital banking space to bring to market novel and impactful innovations for the benefit of all stakeholders. *O UIJT DPOOFDUJPO XF IBE PO +VOF BOOPVODFE UIF QSPQPTFE EJWFSTJàDBUJPO PG UIF (SPVQ T FYJTUJOH CVTJOFTT UP include the provision of financial services. Concurrently, we also announced the proposed establishment of a dividend reinvestment plan that provides shareholders with an option to elect to reinvest their cash dividend in new ordinary shares of the Company as well as the proposed establishment of an Employee Share Option Scheme of up to 10% of the total number of issued shares of the Company (excluding treasury shares). The proposals, which are subject to the approval of shareholders at the upcoming Extraordinary General Meeting, reflect the Group’s ongoing commitment to forge sustainable long-term success by leveraging new and emerging trends and to provide opportunities for stakeholders to deepen their participation in the prospective growth of the Group. Barring any unforeseen circumstances, the Board of Directors (“ Board ”) is cautiously optimistic that the long-term outlook for MYEG remains positive as we continue to introduce innovative, value-added services as well as embark on a regional expansion.