MATERIALITY MATTERS (cont’d) BUSINESS MODEL GOVERNMENT CONCESSIONAIRE Ongoing political changes, whether it be a change of ruling parties in government or the public policies themselves, have an impact on MYEG’s financial and non-financial value creation capabilities. Despite this, the Group does not solely rely on its capabilities of being an e-Government service provider. It has other services, which include blockchain, healthcare and commercial sectors. The Group even launched a variety of healthcare related services on behalf of its government partners as an attempt to provide aid during this troubling period. FY2022 foresaw developments in various sectors that MYEG has services in, and more can be found in the Management Discussion and Analysis section of this Annual Report. Notwithstanding the risk of uncertainties from time to time surrounding government, the Group continued to adopt measures to mitigate all risks arising from this material topic. The following measures have therefore been put in place throughout the years and maintained in FY2022: 01 Active engagement and management of relationships with government officials and regulatory authorities at the working and ministerial levels to mitigate potential change in legislation (see pages 75 to 76 for more information on Stakeholder Engagement); 04 Market diversification to expand our business opportunities in various geographical regions; 05 Ensuring a balanced and diversified revenue mix between e-Government and commercial services; 06 Employing sound ethical business practices aligned with the laws of countries we operate in (see page 81 for more information on our Ethical Work Conduct and Policy section); and 07 Conducting a comprehensive legal review and due diligence to ascertain the level of risk associated with governmental or legal issues (if any). 03 Improving products, solutions, and customer experience to provide best-in-class services to maintain our market leadership in e-services as well as to safeguard our branding and logos, which is mainly done by maintaining existing Intellectual Property (“IP”) and trademarks or by applying for new IP only when necessary (see page 82 for more information on our Intellectual Property); 02 Remaining apolitical in our dealings with governments and officials and in our public communication to manage public perception; 80
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