Abrupt Changes in Government Policies Talent Recruitment And Retention Competitive Marketspace Cybersecurity Threats Global And Domestic Macroeconomic Conditions Post The Pandemic Changing Technological/ Digital Landscape OUR VALUE CREATION STRATEGIES STRATEGIES TO SUSTAIN VALUE CREATION For instance, in Malaysia, a wide range of new services were launched in FY2022 while existing services have been enhanced or improved to provide greater utility and better customer experiences. Aside from blockchain initiatives, highlights for FY2022 included the renewed focus on developing foreign worker hostels. Please see the Management Discussion and Analysis section for more information on all products launched in FY2022. MYEG has also further cemented its presence in the Philippines. Various market centric products have also been launched in the region in FY2022. Kindly refer to the Management Discussion and Analysis section for specific highlights in this operating markets. MYEG will continue its product diversification strategies and maintain the ongoing development of blockchain technologies as the centre of this strategy. RESPONDING TO MARKET DEMAND THROUGH NEW SERVICES One of MYEG’s business strengths is its ability to quickly innovate and deliver customer-oriented services. This was evident throughout FY2020 and FY2021, when MYEG swiftly developed and launched various COVID-19 pandemic related solutions for government, businesses and consumers. These services include COVID-19 testing and screening services, provision of quarantine booking services, digital health passes for travellers and various others. In FY2022, by leveraging its speed-to-market capabilities, MYEG is now continuing to develop new services as well as expand existing services that are aligned with the marketplace. LEVERAGING BLOCKCHAIN Malaysia has initially taken a more prudent stance in the mass adoption of blockchain technologies, but the country is now moving in the right direction. This direction has been significantly spearheaded by MYEG, who aims to bring the next-generation Web3 applications to both government and commercial sectors in Malaysia to help propel the country as a leading technology innovator nation and deliver the objectives set out in the National Blockchain Roadmap. Beyond Malaysia, MYEG is also committed to championing the adoption of blockchain as the catalyst for economic growth and digital transformation across the ASEAN region. MARKET DIVERSIFICATION The strategy of market diversification is in direct response to both macro-economic conditions as well as political or governmental developments. MYEG continues to drive geographical market expansion – focusing on expanding its presence in existing and overseas markets, while also looking to develop new and commercially indemand services. The Group therefore further emphasised its pivot towards strengthening and expanding our blockchain initiatives. This strategic early-mover advantage via the adoption of Web3 technologies is poised to be a game changer for the Group in terms of opening up opportunities to enter into new spaces and industries, not only locally but at a regional and global level as well. This particular strategy has already proven successful up to this point, with collaborations with regional partners in China well underway. Pairing this bold blockchain pivot with the launching of new related products, as well as the introduction of existing commerciallysuccessful products into new markets, positions MYEG’s diversification strategy into for further success. 48
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