20 MANAGEMENT DISCUSSION AND ANALYSIS (cont’d) 8JUI UIF FNFSHJOH TFHNFOUT PG "* BOE CMPDLDIBJO FWPMWJOH BU WBSZJOH EFHSFFT BDSPTT EJGGFSFOU NBSLFUT BOE DPVOUSJFT UIF (SPVQ DPHOJTBOU PG UIF OFFE GPS UIF SFHVMBUPSZ FOWJSPONFOU UP LFFQ QBDF XJUI SBQJE UFDIOPMPHJDBM BEWBODFT continued diligently engaging authorities throughout FY2024 to ensure services deployed are fully in compliance with prevailing regulations. &WFO BT UIF 8FC CVTJOFTT BDDFMFSBUFE JO ': .:&( T MPOH SVOOJOH .BMBZTJBO F HPWFSONFOU TFSWJDFT DPOUJOVFE UP QFSGPSN XFMM NBJOUBJOJOH UIFJS TUBOEJOH BT B TPMJE SFWFOVF DPOUSJCVUPS UP UIF (SPVQ 5IF SFDPSE àOBODJBM performance delivered for FY2024 is testament to the Group’s commitment to pursuing the ongoing evolution of its business to one that is at the forefront of leveraging Web3 technology to enable the provision of cutting-edge UFDIOPMPHJFT UP BMM TUBLFIPMEFST m UIF HPWFSONFOU CVTJOFTTFT BOE JOEJWJEVBMT BMJLF MYEG’s expertise in deploying real-world Web3 use cases along with its decades-long track record in delivering digitalised critical Government services undoubtedly positions the Group as a leader and pioneer in its space. Through DPOTUBOU JOOPWBUJPO BOE B DPNNJUNFOU UP FYDFMMFODF USBOTQBSFODZ BOE FGàDJFODZ .:&( SFNBJOT XFMM QPTJUJPOFE UP maintain its competitive edge and continue driving the future of digital governance in the region. More details on MYEG’s FY2024 business and operational highlights can be found in the Highlights and Achievements section of this Management Discussion and Analysis. FINANCIAL PERFORMANCE *O ': .:&( SFDPSEFE UPUBM SFWFOVF PG 3. CJMMJPO DPNQBSFE UP 3. NJMMJPO JO UIF QSFWJPVT àOBODJBM ZFBS XIJMF QSPàU BGUFS UBY iPATu SFBDIFE BO BMM UJNF IJHI PG 3. NJMMJPO B JODSFBTF GSPN UIF QSFWJPVT year (FY2023: RM486.84 million). The growth was primarily attributable to Web3 services comprising service fees derived from applications including ;5SBEF ;*% BOE %JHJUBM *% SFHJTUSBUJPOT BOE USBOTBDUJPOT BT XFMM BT QSPDFFET GSPN UIF TBMF PG ;FUSJY UPLFOT "T JO UIF QSFWJPVT ZFBS DPOUSJCVUJPOT GSPN FYJTUJOH DPODFTTJPO BOE DPNNFSDJBM TFSWJDFT BMTP BDDPVOUFE GPS B TJHOJàDBOU QPSUJPO of revenue and PAT. MYEG continued to be at the forefront of cultivating and reaping the benefits of adopting cutting-edge digital innovations like blockchain. The strong positive trend in financial performance demonstrates the potential of Zetrix UP ESJWF UIF (SPVQ T OFYU QIBTF PG HSPXUI BEEJOH UP UIF POHPJOH DPOUSJCVUJPO GSPN UIF MPOH SVOOJOH F HPWFSONFOU services. SUKUK WAKALAH PROGRAMME .:&( SBJTFE BO BEEJUJPOBM 3. NJMMJPO JO ': CSJOHJOH UIF UPUBM SBJTFE UISPVHI UIF 4VLVL 8BLBMBI 1SPHSBNNF to RM1.0 billion. MARC Ratings has affirmed its rating of AA-IS with a stable outlook for the Sukuk Wakalah Programme. Proceeds raised from the Sukuk Wakalah Programme shall be utilised for foreign worker hostels and blockchain QSPKFDUT BT QFS UIF 4VTUBJOBCJMJUZ 'JOBODJOH 'SBNFXPSL DIVIDEND TO SHAREHOLDERS .:&( T #PBSE PG %JSFDUPST IBE EFDMBSFE PG B àOBM EJWJEFOE PG TFO QFS PSEJOBSZ TIBSF GPS ': m TFO which the shareholders had approved at the 23rd Annual General Meeting held on 25 June 2024. 5IF àOBM EJWJEFOE XIJDI BNPVOUFE UP 3. XBT QBJE PO 4FQUFNCFS 6OEFS UIF %JWJEFOE 3FJOWFTUNFOU 4DIFNF B UPUBM PG OFX PSEJOBSZ TIBSFT XFSF JTTVFE BU UIF QSJDF PG 3. QFS .:&( TIBSF XIJDI BNPVOUFE UP 3. OFU PG USBOTBDUJPO DPTU
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