MYEG Reports Higher FY2024 Net Profit Of RM697.55 Mln
KUALA LUMPUR, Feb 18 (Bernama) -- My E.G. Services Bhd (MYEG) posted a higher net profit of RM697.55 million for the financial year ended Dec 31, 2024 (FY2024), compared to the RM487.65 million achieved in the preceding year.
Revenue rose to RM1.02 billion from RM774.26 million previously, the digital e-government and commercial services provider told Bursa Malaysia today.
The company attributed the increase in net profit and revenue to the contribution from web3 application service fees from the Zetrix blockchain platform such as ZTrade, ZCert and Digital ID registration and transaction.
MyEG added the performance also contributed from the sale of Zetrix tokens and recognition of fair value gain on investment in HeiTech Padu Bhd.
For the fourth quarter of FY2024, net profit up to RM181.13 million from RM150.16 million in the same period of FY2023.
Revenue also advanced to RM293.53 million from RM222.04 million.
For the financial year ending Dec 31, 2025, MYEG expects to continue introducing innovative services by leveraging new technologies, specifically artificial intelligence technology, to its blockchain or Web 3.0 applications and infrastructure in Malaysia and globally.
-- BERNAMA