ANNUAL REPORT 2021 47 OUR BUSINESS GROUP BUSINESS STRENGTHS (CONT’D) STRENGTHS DESCRIPTION / SIGNIFICANCE STRATEGIES TO LEVERAGE ON STRENGTHS Broad mix of revenue channels across diverse commercial and e-government services MYEG offers a wide range of government concess ion and commercial services, with the latter providing the bulk of Group revenues. Cont inued product development to create new service offerings to customers in established markets. Introducing existing products into new markets are also a part of this strategy. Portfolio diversification plans to reduce dependence on any single product platform. Robust financial position MYEG’s strong fiscal position enables the Group to tap internally generated funds to finance CAPEX for new investments, to launch products and to undertake research and development. A strong balance sheet and stable cashflows also puts the Group in a favourable position when seeking borrowings. Continued emphasis on strengthening cashf lows by developing more products, focussed on recurring income streams, disposals of non-core assets and continued dividend reinvestment plans for shareholders. Growing regional footprint International business presence supports expansion into new markets overseas, enables multiple income streams, promotes product development and provides a measure of insulation against reliance on a single geographic location. A multi-market approach enables cross sharing of ideas, innovations, strategies, talents as well as product replication. Introduction of existing products into new markets. Expand the roll-out of established service offerings in current operating markets. Leverage on local partners in the respective markets via strategic joint ventures, especially technology partners. Recruit professional talents from overseas markets. Market leader The Group has a strong and growing brand profile that is recognised by customers for having high credibility and assurance. Consumers have full confidence in using MYEG’s services. Our position as market leader gives us the unique platform as an opinion leader to help shape the e-services and e-government industry as well as the digital economy. Strong brand equity generates higher traffic which will result in substantial revenue increase and market position. Continue solidifying market leadership position via branding activities, constantly innovating new products in tandem with market requirements. This includes healthcare services and blockchain offerings. Leverage on brand strength to drive key stakeholder engagement, espec i a l l y wi th gover nmenta l stakeholders and technology partners. Leverage on brand strength to upsell services or to offer customised propositions to customers by tapping on BDA.
RkJQdWJsaXNoZXIy NDgzMzc=