55 OUR BUSINESS AND STRATEGY OUR VALUE CREATION PROCESS AND BUSINESS MODEL (cont’d) Financial Values Created Revenue: RM1.02 billion Profit before Tax: RM719.23 million Cash and cash equivalents: RM374.19 million OUTPUTS OUTCOMES Financial Outcomes Final dividend payout of 2.49 sen per share for FY2024 subject to shareholders’ approval. RM6.19 million paid in income tax. Total assets of RM4.25 billion. RM1.89 billion distributable retained profits. RM90.60 million paid in wages. RM10.02 million paid in statutory contributions. Manufactured Outcomes Improved efficiency of our one-stop, door-to-door service experience for customers. Expansion of services to more customers in Malaysia, the Philippines, and other locations. Promote use and proliferation of e-services in Malaysia, including e-Government services. Enhanced online security through implementation of advanced user verification technology. Manufactured Values Created Online renewal of vehicle insurance and road tax as well as driving licence. World Network user ID verification using state-of-the-art iris imaging technology. Intellectual Outcomes Provides convenience to customers, saving time, travel and contributing to reduced environmental footprint across the customer value chain. Further enhancement of our unique business model and value proposition. The ability to retain our market leadership position and continue setting the pace for the industry. The ability to operate as a market disruptor and leader through new technology and new offerings. Expansion of market presence to the regional and global level. Enabling issuance and verification of digital IDs and credentials to enhance online security and wider adoption of digital services. Human Outcomes Staff strength of 2,073 Low attrition rate Human Values Created z Competent employees z Increase in employee engagement z Long service employee z Growth in workforce RM85.32 million paid to financiers in repayment of term loans and lease liabilities. RM1.26 billion in total borrowings. Low 0.32 times net gearing ratio. Last-mile delivery of products, e.g. licences, permits. Provision of vehicle roadside assistance for users. Beli e-Mart. Construction of foreign workers’ housing hostel. MYEG Drive Testing System. Development of highly skilled, knowledge based workers to drive Malaysia’s digital economy. Social and Relationship Values Created Greater understanding among key Government and business stakeholders on our business model and prospects going forward. Greater investment analysis and interest among investors – local and foreign, retail and institutional – in the company. Enhanced trust and confidence in the Company among customers and financiers. Stronger interest among other organisations and enttities to form partnerships and collaborations with the Company. Social and Relationship Outcomes MYEG received a service extension from JPJ, commencing from 23 May 2023 to 22 May 2026. Partnered with CBM to provide an additional avenue for users to self-check credit reports via CBM's MySCoRE platform. MYEG PH and SSS PH partnered to enhance the payment experience for SSS PH members to enjoy a hassle-free and efficient online payment of loans and contributions through MYEG PH’s website. MYEG, in February 2024, entered into an MoU with SDEC to collaborate in providing electronic Government services in Sarawak. Strategic interest in and establishment of a teaming agreement with e-Government services provider Heitech Padu Berhad. A tripartite collaboration between World network, MIMOS Berhad and MYEG saw the Group deploy iris-scanning orbs and verify users across Malaysia. MYEG announced its collaboration with East Logistics Link Co, a wholly-owned agency of the GACC, to exclusively collaborate on the development and operation of the NSW platform for ASEAN countries. Zetrix partnered with MDEC, Intelligence Traceability Sdn. Bhd., and Biforst Group on halal traceability through blockchain. Zetrix and Astron launched the enhanced China Digital IDs, ZID, to combat online identity fraud. The emergence of a “greener” business operation that has effectively mitigated the effects of rising energy costs. 299.53 tonnes CO2e Scope One emissions 1,367.61 tonnes CO2e Scope Two emissions 4,011.80 tonnes CO2e Scope Three emissions Intellectual Values Created The introduction of motor vehicle-related solutions, including MYEG Drive Testing System, MyMotor, MyAssist, online vehicle auction platform, and online renewal of insurance, road tax and driving licence, as well as online insurance comparison portal, further cements MYEG as a one-stop centre that covers the needs of drivers and motorists. This includes providing a large range of new and used vehicles to choose from, providing financial assistance via multiple vehicle financing options as well as roadside vehicle assistance packages. Other benefits (related and unrelated) created via the business model include: z Enabling foreign worker permit and insurance renewal. z Road tax renewal in one click and delivery of road tax to the preferred destination. z Variety of IT-related services and products that are attractive to stakeholders. z Positive technology investment that is expected to perform well in the future. z Enhancing road safety and facilitating more effective regulation and enforcement. z Provision of online finance services via MY EG Finance Technologies Sdn. Bhd.. z Completion of the pilot phase for MYDTS and commencement of commercialisation, further widening the range of motor vehicle-related services offered by the Group in Malaysia. z Establishment of Zetrix layer-1 blockchain and Zetrix digital tokens. z New blockchain-related initiatives including ZTrade, supply chain financing solutions, a multi-chain wallet and a digital credentials service known as ZCert and ZID. z Zetrix’s blockchain technology enabled a blockchain-based voting system in the form of digital collectibles for Miss Universe Malaysia 2024. z Development of MyDigital ID Superapp. n 19 ial Ou vidend 24 sub 9 millio Last mile delivery of prod 9 Financi Final div for FY20 nce for g h actur ed effi on of e use ed onl Manufa Improve Expansio Promote Enhance s, permits. r users. hostel. ain udi s, a tia a Further enha and va lity to n and y. lity to der th gs. Expansion of f model a The abil position industry The abil and lead offering E i n and ng a ls service oy rce nd n Out rengt trition ived a service extension from JPJ com Human Staff st Low att ee d Relationship Outcomes vern nes st d Com ati abo nment orations MYEG recei 2023 t ered w heck c G PH a SS PH ent of G, in Fe borate Strategic in ith G ss model among mpany ions and MYEG May 2 Partn self-c MYEG for SS paym MYEG collab Strate mis em e em with e mergen ith The em ssions missions missions VALUE CREATION MODEL (cont’d)
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