MyEG shares slide further

PETALING JAYA: E-government service provider My E.G. Services Bhd (MyEG) shares saw no respite today, falling another 29.83% or 54 sen to close at RM1.27.

A total of 13.93 million shares changed hands today. The stock was one of the top losers today.

MyEG’s share price has been on a slump since the market reopened on Monday, after a three-day break last week during which the country saw a change in government upon the conclusion of the 14th General Election.

On Monday, the stock fell by 29.84% or 77 sen to close at RM1.81 with some five million shares traded.

MyEG’s main income source is from government contracts while its executive chairman Datuk Dr Norraesah Mohamad was previously Umno Supreme Council member.

The company provides e-services between the government and Malaysian citizens and businesses. Its services include electronic delivery of driver and vehicle registrations, licensing and summons services as well as utility bill payments.

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