My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 44 EXTERNAL FACTOR DESCRIPTION IMPACT ON MYEG / BUSINESS MODEL IMPACTED CAPITALS RISKS OPPORTUNITIES SOCIAL Changing user behaviour towards a greater propensity to use digital channels for business or personal transactions as well as to purchase goods and services. The change has also been accelerated CZ UIF $07*% pandemic. The need to venture into IFBMUIDBSF SFMBUFE services to help curb the spread of the $07*% QBOEFNJD alongside our government partners has become of prime importance to the Group in hopes our efforts can contribute to the rapid return to normalcy in society. The growth among users and businesses to move online will determine product launching strategies going forward. Relationship / Social Financial Manufactured Failure to deliver on customer experience through lack of system optimisation and server inability to handle large influx of users Opportunities to venture into new businesses or to reengineer the existing business model towards ensuring relevancy and future competitive capability, especially in regards to our government collaboration. The exploration and introduction PG IFBMUIDBSF related services and product offerings MJLF $07*% screening technologies and services and MySafeTravel fills a NVDI OFFEFE HBQ of granting safe and easy accessibility to such services amidst UIF TPDJBM EJTUBODJOH environment we are currently in. The provision of MYEG’s online portals and systems also acts an automatic safeguard against the need for users to engage in physical transactions of related services during the pandemic. MACRO ENVIRONMENT 5IF $07*% pandemic, which is a black swan event, has led to a major disruption to business operations across almost all industries and business sectors. The sudden but acute halt to business activities has led to a wide range of negative impacts. However, it has also led to increased opportunities as more users opted for online / digital channels to purchase goods and services. There were some disruptions to the regular service delivery at the initial stage of the lockdown. Notably, the pandemic led to an impact on customer footfall at MYEG’s XBML JO DPVOUFST BOE F TFSWJDFT DFOUSFT However, with many of our services receiving essential services classification, business operations were able to resume albeit with TUSJDU $07*% 401T in place. Financial Human Social -FHBM Natural disasters /PO DPNQMJBODF XJUI laws and legislation Health and safety status of employees BOE DJUJ[FOT The pandemic presents an opportunity to review and improve our overall approach to risk assessment and corporate governance. The focus is to harden the business model towards ensuring a greater degree of resilience against future disruptive incidents. The aforementioned include strengthening policies and SOPs pertaining to occupational health and safety, business continuity planning and disaster recovery as well as corporate governance. OUR OPERATING ENVIRONMENT (CONT’D)