84 MY E.G. SERVICES BERHAD Registration No. 200001003034 (505639-K) MATERIALITY MATTERS (cont’d) As MYEG is a major proponent of Web3 technology, which it firmly believes can bring significant benefits to the economies of the region especially from an efficiency and productivity standpoint, the Group aims to play a major role in catalysing the adoption of blockchain technology in this region, both in the government and commercial sectors through strategic collaborations and technological investments. With an existing presence in Malaysia, Philippines and China, MYEG aims to deploy Web3 services to the rest of the ASEAN and RCEP regions and connect these nations onto a common platform to ease and expedite cross border trading. MYEG also continued maintaining its existing IPs and trademarks in the face of increasingly volatile market trends to safeguard the Group’s unique brand proposition among stiff competition. MYEG has also, when necessary, leveraged existing IPs, technology and registered trademarks to respond proactively to many issues and opportunities. As in previous years, the Group’s approach to managing IP is two-pronged as follows: IP DEVELOPMENT IP PROTECTION STRATEGY Innovating on existing and new product and service offerings to satisfy the existing needs of customers and improve user experience. Exploring new business areas and innovations relevant to technological revolutions, such as Fourth Industrial Revolution (IR 4.0) and Web3. Focusing on accessibility and cost effectiveness as prime considerations in innovation output. Sourcing third-party knowledge via collaborations and partnerships with institutions and promising tech start-ups locally and internationally. Internal policies to ensure legal protection of our IP. Application and filing of patents on innovations developed by the Group. Registering trademarks and brand logos as IP. RESULTS MYEG entered into a Memorandum of Understanding (“MOU”) with MIMOS Technology Solutions Sdn. Bhd. to jointly develop and operate the national Layer-1 public blockchain using Zetrix and MIMOS blockchain technology as the components of the Malaysia Blockchain Infrastructure (“MBI”). MYEG, in collaboration with the Institute of Industrial Internet and Internet of Things of the CAICT, established an international extension of China’s national blockchain network, Xinghuo BIF, by introducing backbone and supernodes outside China known as Zetrix. This led to the full deployment of the Xinghuo Beta Name System (“BNS”) and Xinghuo Digital Identity Service, which are fully compliant with W3C International Standards. Under Zetrix, blockchain-based Identifiers / Verifiable Credentials and blockchain-based E-signing services have been introduced. Zetrix had also launched the pilot for its cross-border trade financing solution, Zetrix TradeFi as well as the pilot project to offer supply chain financing products in conjunction with Chinese banks. Trademarks registered and IPs patented previously have been carefully maintained, safeguarded and utilised throughout FY2023. These included the continued provision of government services and MYEG’s entry into the healthcare sector and the blockchain space. A MYEG i j f W b h l hi h i fi fi fi
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