My EG Services Berhad Annual Report 2020

ANNUAL REPORT 2020 45 EXTERNAL FACTOR DESCRIPTION IMPACT ON MYEG / BUSINESS MODEL IMPACTED CAPITALS RISKS OPPORTUNITIES TECHNOLOGICAL New and emerging technologies present opportunities as well as risks. Internet of Things, automation BOE *OEVTUSZ BSF technologies that are reshaping the industry. Data security breaches as well as any attacks such BT B DZCFS UFSSPSJTU attack or security breach also present material issues. With the pandemic at the forefront of UIF NBDSP PQFSBUJOH environment, slow technological development and adaptation may lead to an obsolescence in MYEG’s operations if the Group doesn’t adequately respond. Intellectual Manufactured Natural Technology performance Cyber threat -FBEJOH UIF XBZ in developing and implementing OFX IFBMUIDBSF related services by leveraging existing platforms, systems BOE HPWFSONFOU sanctioned collaborations to reach mass distribution and usage to help in the fight against the $07*% QBOEFNJD Moreover, by reinforcing business collaborations with key government partners through strategic and significant contract renewals that promote the introduction of new concession services into our operating markets. Existing investment JOUP TUBSU VQ companies involved in AR, blockchain and other new technologies will allow MYEG to develop its expertise and knowledge base in these fields to shorten its learning curve and time to market. 4UBSU VQ BDRVJTJUJPO allows for greater and quicker exposure to these technology trends and at lower cost compared to developing these technologies from scratch. There is a growing demand for such technologies with greater incorporation into everyday user services. OUR OPERATING ENVIRONMENT (CONT’D) OUR BUSINESS