22 HIGHLIGHTS AND ACHIEVEMENTS .:&( OPUDIFE B OVNCFS PG OPUFXPSUIZ BDIJFWFNFOUT JO ': BOE EFMJWFSFE BOPUIFS SFDPSE àOBODJBM QFSGPSNBODF with the increase principally fuelled by growth in demand for Web3 products and services. 8IJMF CMPDLDIBJO JT PGUFO BTTPDJBUFE QBSUJDVMBSMZ JO UIF 8FTUFSO XPSME XJUI EFDFOUSBMJTFE àOBODF BOE EJHJUBM BTTFUT USBEJOH .:&( T 8FC JOJUJBUJWFT HP XFMM CFZPOE TVDI DPOàOFT BOE BSF JOTUFBE GPDVTFE PO FOBCMJOH SFBM XPSME VTF DBTFT FTQFDJBMMZ JO BQQMZJOH UIF BEWBOUBHFT PG CMPDLDIBJO UFDIOPMPHZ UP EJHJUBMJTF DSPTT CPSEFS HPWFSONFOU processes. It is precisely for this reason that the Group has sought to work closely with the Chinese government given China’s prominence as the world leader in the application of blockchain in government services. MYEG’s long track record as an innovator and its ability to forge forward-thinking collaborations with other renowned JOEVTUSZ MFBEFST JODMVEJOH UIF MJLFT PG .*.04 $IJOB "DBEFNZ PG *OGPSNBUJPO BOE $PNNVOJDBUJPOT 5FDIOPMPHZ BOE UIF 8PSME /FUXPSL QVUT UIF (SPVQ JO QPMF QPTJUJPO UP DPOUJOVF CSJOHJOH UP UIF NBSLFU QJPOFFSJOH EFDFOUSBMJTFE BQQMJDBUJPOT UIVT FTUBCMJTIJOH ;FUSJY BT UIF SFHJPO T QSFNJFS BOE QSFGFSSFE 8FC FDPTZTUFN A number of key applications were rolled out on the Group’s proprietary Zetrix blockchain over the course of 2024. These include: r ;*% B EJHJUBM DSFEFOUJBMT TFSWJDF UIBU FOBCMFT UIF EJHJUBMJTBUJPO PG ESJWFST MJDFODFT BT XFMM BT OBUJPOBM *%T PG $IJOFTF OBUJPOBMT PO UIF CMPDLDIBJO UP FOBCMF GSBVE QSPPG UBNQFS QSPPG BOE SFBM UJNF WFSJàDBUJPO PG TVDI DSFEFOUJBMT CZ BOZ WFSJàFS PVUTJEF $IJOB BOE r ;5SBEF B àSTU PG JUT LJOE QMBUGPSN UIBU GBDJMJUBUFT UIF FYQPSU PG HPPET UP $IJOB CZ QSPWJEJOH NBOVGBDUVSFST BOE USBEFST XJUI HSFFO MBOF BDDFTT *U PQFSBUFT CZ BMMPXJOH VTFST UP VQMPBE UIFJS DFSUJàDBUFT PG PSJHJO UIVT streamlining the export process by ensuring the necessary documentation is readily available for customs authorities in China. "NPOH PUIFS 8FC JOJUJBUJWFT .:&( XBT BMTP QBSU PG B QBSUOFSTIJQ GPSNFE XJUI UIF 8PSME /FUXPSL 5PPMT GPS )VNBOJUZ BOE .*.04 XJUI UIF NVMUJ QBSUZ DPMMBCPSBUJPO VTIFSJOH JO BNPOH PUIFS UIJOHT UIF EFQMPZNFOU PG JSJT scanning orbs for the verification of users across Malaysia. The better financial results registered in FY2024 reflected the maiden contribution from the aforementioned new TFSWJDFT QPJOUJOH UP UIF QSPTQFDUT PG NPSF VQTJEF BIFBE BT UIF BEPQUJPO PG 8FC TFSWJDFT DPOUJOVFT UP FYQBOE 8FC TFSWJDFT BTJEF UIF (SPVQ T MPOH SVOOJOH F HPWFSONFOU TFSWJDFT SFNBJOFE SPCVTU VOEFSQJOOFE CZ TUFBEZ EFNBOE GPS DPODFTTJPO BOE DPNNFSDJBM PGGFSJOHT QBSUJDVMBSMZ JO SFMBUJPO UP TFSWJDFT GPS UIF *NNJHSBUJPO %FQBSUNFOU and the Road Transport Department (“JPJ”). The scope of JPJ-related services expanded during the year with the DPNNFODFNFOU PG UIF "VUPNBUFE 5SBJOJOH BOE %SJWJOH 5FTU 4ZTUFN PS F 5FTUJOH QSPHSFTTJWFMZ GPS UIF BTTFTTNFOU PG driving test candidates. MYEG is pleased to be working alongside these major departments in accordance with the FYUFOTJPO PG TFSWJDFT TFDVSFE JO FOTVSJOH VTFST DPOUJOVF UP FOKPZ VOJOUFSSVQUFE BDDFTT UP UIF PGGFSJOHT BU UIFJS fingertips. MYEG’s close collaboration with Government entities reflects the Group’s strong support for the Government’s ongoing digitalisation aspirations. Digitalisation not only enables greater user convenience but offers enhanced security CZ SFEVDJOH JOTUBODFT PG GSBVE #VJMEJOH PO UIF SFMBUJPOTIJQ XJUI UIF HPWFSONFOU UIBU IBT TQBOOFE EFDBEFT .:&( MPPLT GPSXBSE UP DPOUJOVJOH UP QMBZ BO JOUFHSBM QBSU JO BDDFMFSBUJOH UIF EJHJUBMJTBUJPO PG UIF DPVOUSZ T QVCMJD TFSWJDFT especially in light of the recent teaming agreement formed with Heitech Padu Berhad to execute major Government IT projects. ': BMTP TBX PUIFS OFX TFSWJDFT JOUSPEVDFE CZ UIF (SPVQ T POMJOF QMBUGPSN JODMVEJOH B TFMG DIFDL TFSWJDF GPS individual credit reports in partnership with Credit Bureau Malaysia Sdn. Bhd. (“CBMu BOE B #VZ /PX 1BZ -BUFS programme for automotive services in collaboration with Direct Lending Sdn. Bhd.. 5IF 1IJMJQQJOFT KPJOU WFOUVSF CVTJOFTT BMTP JNQSPWFE EVSJOH UIF ZFBS XJUI .:&( 1IJMJQQJOFT *OD EFMJWFSJOH B TUSPOHFS TFU PG àOBODJBM SFTVMUT PO UIF CBDL PG JODSFBTFE EFNBOE GPS F HPWFSONFOU TFSWJDFT FWFO BT NPSF NBKPS HPWFSONFOU departments and agencies were onboarded onto its platform. These include online payment services for the Social Security System of Philippines and National Home Mortgage Finance Corporation. MANAGEMENT DISCUSSION AND ANALYSIS (cont’d)
RkJQdWJsaXNoZXIy NDgzMzc=