ANNUAL REPORT 2021 59 OUR BUSINESS CAPITAL CONSUMED AND VALUES CREATED (OUTPUT AND OUTCOMES) (CONT’D) OUR VALUE CREATION PROCESS AND BUSINESS MODEL Financial Values Created Revenue RM721.88 million Profit before Tax: RM320.68 million Cash and cash equivalents: RM75.82 million Social and Relationship Values created Greater understanding among key government and business stakeholders on our business model and prospects going forward. Greater investor analyst and investor interest in our company. Sharing of resources to achieve a common goal in a business value chain Intellectual Values Created Introduction of MyMotor, MyAssist, as well as an online vehicle auction platform, and most recently the online renewal of motorcycle insurance and road tax as well as CDL, further cements MYEG as a one-stop centre that covers the needs of drivers and motorists. This includes from providing a large range of new and used vehicles to choose from, providing financial assistance via multiple vehicle financing options as roadside vehicle assistance packages. All of these can be accessed via MYEG – a single website solution. 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 Varieties of IT related services and products that are attractive to investors. 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 MYEG Fin Tech z New blockchain-related initiatives including MYEG Lock-Earn Wallet, NFT Pangolin and the Zetrix Layer-1 blockchain. Manufactured Outcomes Improved efficiency of our one-stop, door-to-door, service experience for customers. Expansion of services to more customers nationwide. Further strengthening our value proposition as a one-stop service provider and the go-to provider for a wide range of necessary and important services. Promote use and proliferation of e-services in Malaysia, including e-government services 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 to continue setting the pace for the industry. The ability to operate as a market disruptor and leader through new technology and new offerings. Social and Relationship Outcomes Investment in Ximmerse for AR/ VR technology and HiSense Technology. Invested in blockchain project by collaborating with Universiti Malaya (“UM”) and Universiti Utara Malaysia (“UUM”) in exploring opportunities, to promote and foster the development of academic and research projects in blockchain. MYEG Philippines in the Philippines. JV in Bangladesh Entered into a title partnership of the inaugural Malaysia Esports Series 2021 organised jointly by My Events International and THQ Esports Club, and supported by the Ministry of Youth & Sports, Ministry of Higher Education and Ministry of Health. Concession agreement extension with the Malaysian government for the provision of the electronic delivery of vehicle registration, driver and vehicle licensing services and payment of summon services. Memorandum of Understanding with A Tech Insure Sdn. Bhd. to provide Malaysian civil servants with a platform to purchase motor vehicle takaful coverage together with road tax renewal by way of an interest-free Shariah-compliant Qard loan facility. Cooperation with Zhifei in obtaining Malaysian Halal certification from JAKIM for the COVID-19 vaccine. OUTPUTS OUTCOMES Manufactured Values Created Online renewal of motorcycle insurance and road tax as well as CDL. MySafeQ MySafeTravel MYEGuard in the Philippines BreFence Go Jejak in Indonesia One-stop COVID-19 portal BELI e-Mart (rebranded from NAK BELI platform) MyStay foreign worker accommodation services COVID-19 test kit in Malaysia and the Philippines Roll-out of tax monitoring system to 30 more cities in Indonesia Partnership between MYEG Philippines and Family Vaccine Specialty Clinics, Inc. to develop a mobile application for the booking and payment of COVID-19 tests, along with the issuance of a digital QR code system as proof of testing. Agency agreement on the facilitation of the collection of dues and/or payments relating to COVID-19 detection tests or/and quarantine station charges issued by the Malaysian government to the public. Comprehensive Exclusive Distribution Agreement between MYEG Medical and Breathonix for the purpose of appointing MYEG Medical as the exclusive distributor for all market segments in Malaysia for BreFence Go for a period of 3 years commencing 22 December 2021. Data sharing collaboration with the Department of Labour of Peninsular Malaysia Shareholders’ Agreement with China’s Bubi Technologies Co Ltd, Agmo Holdings Sdn Bhd, Star Jewel Capital Inc. to regulate the relationship interest of shareholders and other parties who will become shareholders of Zetrix. MOU of Strategic Cooperation with the Institute of Industrial Internet and Internet of Things of the China Academy of Information and Communications Technology, to establish an international extension of China’s national blockchain network, Xinghuo Blockchain Infrastructure and Facility. Human Outcomes 2,552 staff strength Low attrition rate Development of highly skilled knowledge based workers to drive Malaysia’s digital economy. Human Values Created z Competent employees z Increase in employee engagement z Long service employee z Growth in workforce Financial Outcomes 1.28 sen dividend per share declared for FY2021 RM3.98 million paid in income tax Total assets of RM1.88 billion RM698.11 million distributable retained profits RM31.79 million paid to financiers in repayment of term loans and lease liabilities RM160.55 million in total borrowings Low 0.16 times gearing
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