KUALA LUMPUR: MIDF Amanah Investment Bank Bhd has maintained its "Buy” call on MyEG Services Bhd with an unchanged target price of RM1.38, premised on the positive development on Ztrade.
Ztrade services operate on MyEG’s blockchain platform, Zetrix, which enables all data in these certificates to be available accurately in near real-time, increasing tariff computation and customs clearance efficiency.
"We expect potential contribution from the Zetrix platform would match and eventually surpass the existing contribution from the e-government services.
"Nonetheless, we are keeping our earnings estimates unchanged at this juncture we have partially input the contribution from Ztrade,” MIDF said in a research note today.
To recap, following Malaysia’s Finance Ministry and General Administration of Customs of the People's Republic of China (GACC) joint statement on the single window cooperation in cross-border trade on June 19, 2024, MyEG received notification letters dated June 27, 2024, from GACC’s wholly agency, East Logistic-Link Co, to deploy connectivity for trade facilitation services with ZTrade services.
At 11 am, My EG share price was up two sen to 99 sen with 18.47 million shares transacted. - Bernama
