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BUSINESS • 20/05/2025 08:55 PM

MYEG 1Q 2025 Net Profit Rises To RM181.64 Mln

KUALA LUMPUR, May 20 (Bernama) -- MY E.G. Services Bhd (MYEG) recorded a higher net profit of RM181.64 million for the first quarter ended March 31, 2025 (1Q 2025) compared to RM155.95 million in the previous corresponding period.

Revenue increased to RM299.99 million from RM232.96 million previously.

MYEG said the higher revenue was attributed to contributions from Web 3.0 application service fees on the Zetrix blockchain platform (Zetrix), such as ZTrade, ZCert, and digital identification registration and transactions, as well as the sale of Zetrix tokens.

In a filing with Bursa Malaysia today, the digital services company said that for the financial year ending Dec 31, 2025 (FY2025), initiatives in Zetrix are expected to drive organic growth.

“These initiatives include the commercialisation of innovative services as Zetrix becomes widely adopted. With the operationalisation of the Malaysia Blockchain Infrastructure with MIMOS Technology Solutions Sdn Bhd, the opportunities for Zetrix will be further enhanced.

“Furthermore, Zetrix’s integration with China’s national blockchain platform, namely ‘Xing Huo’, will facilitate cross-border trade and marks the group’s foray into the global market,” it said.

MYEG added that with artificial intelligence (AI) technology becoming widely adopted, the company said it aims to leverage this evolving technology to develop agentic AI capable of operating and performing tasks without human supervision.

“With the launch of the China-ASEAN AI Lab, we intend to introduce relevant AI projects under our lab to further enhance our growth from the financial year 2025 onwards,” it said.

Barring any unforeseen circumstances, the company said it is cautiously optimistic that the long-term outlook remains positive as it continues introducing innovative services in Malaysia and globally.

For the financial year ended Dec 31, 2024, MYEG’s directors have proposed a final dividend of 2.49 sen per ordinary share, subject to shareholders’ approval at the forthcoming annual general meeting on June 23, 2025.

-- BERNAMA

 

 

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