October 2022 saw MYEG entering into an MOU with MIMOS to jointly develop and operate the national Layer-1 public blockchain using Zetrix and MIMOS blockchain technology as the components of the MBI. MBI is a key element of the National Blockchain Roadmap launched by the Ministry of Science, Technology and Innovation (“MOSTI”). The MOU signifies a landmark collaboration to bring next generation Web3 applications to both the Government and commercial sectors in the country to further promote the development, deployment and take-up of blockchain-related applications and services in both the public and private sectors. Within the same month, MYEG-owned Zetrix launched the pilot for its cross-border trade financing solution, Zetrix TradeFi. AmBank (M) Berhad will be among the banks that will be pioneering the use of this blockchain-based trade financing platform, subject to relevant approvals. The digitalisation of trade and trade financing via blockchain will bring efficiencies that will enhance and ultimately transform mainstream commerce, making the introduction of this decentralised solution another important milestone in Zetrix’s evolution to be a leading global Web3 platform. In November 2022, MYEG marked the deepening of its collaboration with CAICT, with MYEG appointed to own and operate the Xinghuo International Supernode that will provide connectivity from China to the rest of the world. This collaboration resulted from the initial MOU that both parties entered on 12 October 2021. This 4-year collaboration also entails the cross-border adoption and utilisation of the latest BID standard to gradually create the Web3 of China and beyond. Subsequently, in February 2023, Zetrix was chosen by the Chinese government as a component of its G2G programme. Initiated by China’s MOST, Malaysia is one of the 14 countries participating in the programme. The China-Malaysia G2G cooperation covers four sectors, including public health (such as vaccine research and development), Artificial Intelligence (AI), Information and Communications Technology (ICT) (blockchain, big data, etc.), as well as space remote sensing technology. Notably, CAICT has chosen Universiti Malaya as a research partner in this programme, highlighting it as the tertiary education institution with the best research resources in Malaysia. The research is proposing a system that could prevent fraud in supply chain processes using blockchain technology for cross-border trade, with eventual commercialisation being carried out on the Zetrix platform. Not only does this mutually-beneficial collaboration stand to further increase technical expertise between two countries, it also strengthens the Malaysia-China trade, data interoperability and further propel Malaysia into the Web3 era. In March 2023, MYEG signed a partnership agreement with East Logistic-Link Co. Ltd, a wholly-owned agency of the GACC, to jointly provide a full suite of cross-border trade facilitation services that include certificates of origin on the Zetrix blockchain platform. Other certificates relevant to cross-border trade, such as food safety, quarantine, and bill of lading, can also be issued on the chain. This would enable all data in these certificates to be available accurately in near real-time, which increases the efficiency of tariff computation and customs clearance, especially for trade within the Regional Comprehensive Economic Partnership (RCEP). Interested supply chain participants worldwide may register to use the service, known as Ztrade, to safely exchange data with relevant government agencies like GACC, as the Web3 digital platform minimises risks by eliminating any single point of failure and safeguarding stakeholders’ data. HEALTHCARE SERVICES MYEG’s penetration into the healthcare sector through pandemic-related services has proved the Group’s business agility, market response speed and its technological leadership in the digital space. While FY2021 saw some of the strongest contributions and developments when it came to MYEG’s healthcare services, the opening of all economic sectors and the relaxing of COVID-19 restrictions in FY2022 naturally led to a decrease in activity and developments related to MYEG’s healthcare services. MANAGEMENT DISCUSSION AND ANALYSIS (cont’d) 24
RkJQdWJsaXNoZXIy NDgzMzc=