Latest news with #MyEG
The Sun
14 hours ago
- Business
- The Sun
Malaysia to fully enforce VEP system for Singapore vehicles from July 1 with RM300 fines: Loke
PUTRAJAYA: Malaysia will fully enforce the Vehicle Entry Permit (VEP) system for foreign-registered vehicles entering from Singapore via the land border starting Jul 1, Transport Minister Anthony Loke said today. He said non-compliance would result in a compoundable fine of RM300 and could lead to denial of entry. 'From July 1 onwards, enforcement will be strict. We urge all foreign vehicle owners, especially Singaporean drivers, to complete their VEP registration, install the RFID tags, and activate them immediately. 'This will ensure smooth and hassle-free entry and exit at the border,' Loke said during a press conference at the ministry, here.. The initiative, which was soft-launched through advocacy campaigns in October last year, has been implemented in phases to allow vehicle owners ample time to comply, Loke added. He explained that the Vehicle Entry Permit (VEP) system utilises Radio Frequency Identification (RFID) technology to monitor foreign vehicles and ensure adherence to Malaysian road regulations. 'It also enables authorities to track and enforce outstanding fines for traffic offences committed within the country,' he added. As of June 2, more than 231,000 VEP tags have been issued to private vehicle owners, with nearly 195,000 already installed and activated. For private company vehicles, over 2,600 tags have been activated. Loke also stressed that foreign vehicles must have a valid VEP to enter Malaysia. 'If a private individual's vehicle does not have a valid VEP, a summons will be issued. 'The fine must be settled, and VEP registration completed, before the vehicle is allowed to exit Malaysia.' 'Even if a vehicle is pre-registered but not fully compliant, it will still face summonses and payment requirements,' he said. He said the same rules apply to private company vehicles without valid VEPs. 'In some cases, a reminder notice may be issued to allow temporary exit but vehicle owners must still comply to avoid penalties. 'We want to avoid inconveniences for everyone, so cooperation is essential,' Loke said. He added that summonses must be settled before exiting Malaysia and can be paid via cashless methods at Road Transport Department (RTD) counters, mobile units, or online via MyEG. To avoid congestion, Loke said enforcement checks would not be carried out at the border itself. 'Inspections will be carried out through scheduled operations at selected locations from time to time, not by stationing officers at the border,' he said. 'We know which vehicles haven't registered — the system automatically detects those without valid VEPs.' Beyond enforcement, Loke highlighted the VEP system's role in facilitating smoother traffic flow and enhancing Malaysia-Singapore relations. 'This initiative reflects our commitment to effective border management while respecting the close ties between our countries. 'RTD continues to monitor compliance closely and has already issued summonses to foreign vehicle owners who remain unregistered or whose VEP tags are inactive. 'Vehicle owners are encouraged to register and activate their VEP tags promptly via the official RTD website or at service centres located at the Causeway and Second Link.' He further said that by improving security and compliance, the VEP system is expected to reduce congestion and speed up processing times at border crossings. 'Ultimately, this is about creating a safer, more efficient travel experience for everyone,' Loke said. The VEP system for foreign vehicles entering Malaysia from Singapore via land routes was introduced on October 1 last year. Under this scheme, all foreign vehicles are required to obtain an RFID-based VEP tag issued by the Malaysian Transport Ministry. These tags must be installed, activated, and linked to a valid Touch 'n Go eWallet account before the vehicle can enter Malaysia.
The Sun
14 hours ago
- Automotive
- The Sun
VEP Enforcement July 1: RM300 Fines for Singapore
PUTRAJAYA: Malaysia will fully enforce the Vehicle Entry Permit (VEP) system for foreign-registered vehicles entering from Singapore via the land border starting Jul 1, Transport Minister Anthony Loke said today. He said non-compliance would result in a compoundable fine of RM300 and could lead to denial of entry. 'From July 1 onwards, enforcement will be strict. We urge all foreign vehicle owners, especially Singaporean drivers, to complete their VEP registration, install the RFID tags, and activate them immediately. 'This will ensure smooth and hassle-free entry and exit at the border,' Loke said during a press conference at the ministry, here.. The initiative, which was soft-launched through advocacy campaigns in October last year, has been implemented in phases to allow vehicle owners ample time to comply, Loke added. He explained that the Vehicle Entry Permit (VEP) system utilises Radio Frequency Identification (RFID) technology to monitor foreign vehicles and ensure adherence to Malaysian road regulations. 'It also enables authorities to track and enforce outstanding fines for traffic offences committed within the country,' he added. As of June 2, more than 231,000 VEP tags have been issued to private vehicle owners, with nearly 195,000 already installed and activated. For private company vehicles, over 2,600 tags have been activated. Loke also stressed that foreign vehicles must have a valid VEP to enter Malaysia. 'If a private individual's vehicle does not have a valid VEP, a summons will be issued. 'The fine must be settled, and VEP registration completed, before the vehicle is allowed to exit Malaysia.' 'Even if a vehicle is pre-registered but not fully compliant, it will still face summonses and payment requirements,' he said. He said the same rules apply to private company vehicles without valid VEPs. 'In some cases, a reminder notice may be issued to allow temporary exit but vehicle owners must still comply to avoid penalties. 'We want to avoid inconveniences for everyone, so cooperation is essential,' Loke said. He added that summonses must be settled before exiting Malaysia and can be paid via cashless methods at Road Transport Department (RTD) counters, mobile units, or online via MyEG. To avoid congestion, Loke said enforcement checks would not be carried out at the border itself. 'Inspections will be carried out through scheduled operations at selected locations from time to time, not by stationing officers at the border,' he said. 'We know which vehicles haven't registered — the system automatically detects those without valid VEPs.' Beyond enforcement, Loke highlighted the VEP system's role in facilitating smoother traffic flow and enhancing Malaysia-Singapore relations. 'This initiative reflects our commitment to effective border management while respecting the close ties between our countries. 'RTD continues to monitor compliance closely and has already issued summonses to foreign vehicle owners who remain unregistered or whose VEP tags are inactive. 'Vehicle owners are encouraged to register and activate their VEP tags promptly via the official RTD website or at service centres located at the Causeway and Second Link.' He further said that by improving security and compliance, the VEP system is expected to reduce congestion and speed up processing times at border crossings. 'Ultimately, this is about creating a safer, more efficient travel experience for everyone,' Loke said. The VEP system for foreign vehicles entering Malaysia from Singapore via land routes was introduced on October 1 last year. Under this scheme, all foreign vehicles are required to obtain an RFID-based VEP tag issued by the Malaysian Transport Ministry. These tags must be installed, activated, and linked to a valid Touch 'n Go eWallet account before the vehicle can enter Malaysia.
Finextra
27-05-2025
- Business
- Finextra
Malaysia and Singapore boost digital trade connectivity
Authorities from Malaysia and Singapore have signed a memorandum of understanding to build a blockchain-powered cross border digital trade network. 0 The agreement sees Malaysia's e-government and digital services provider MyEG and Singapore Trade Data Exchange Services (SGTraDex) explore the technical integration of their platforms to enable a secure and interoperable channel for the exchange of trade-related data. The collaboration aims to catalyse the transition from paper-based to digital trade flows, including the use of verifiable electronic records, aligned with the region's push for trade facilitation and supply chain resilience. The partners will collaborate on creating platform-to-platform connectivity; trade document verification; blockchain-based integration and interoperable data standards; and sharing regulatory knowledge. "By aligning efforts with close partners like Malaysia, we are taking steps toward greater interoperability and connectivity, which will contribute to more inclusive digital growth across the region," says Tan Chin Hwee, chairman, SGTraDex.
The Star
20-05-2025
- Business
- The Star
MyEG to drive organic growth through Zetrix
MyEG said the initiatives include the commercialisation of innovative services as Zetrix becomes widely adopted. PETALING JAYA: MyEG Services Bhd (MyEG) expects to continue its initiatives in its public blockchain infrastructure called Zetrix to drive its organic growth this year. In a filing with Bursa Malaysia, MyEG a provider of e-government services, said the initiatives include the commercialisation of innovative services as Zetrix becomes widely adopted. 'In addition, with artificial intelligence (AI) technology becoming widely adopted, the company intends to leverage this evolving technology to develop Agentic AI, which is able to operate and perform tasks without any human supervision.' For the first quarter ended March 31, 2025 (1Q25), MyEG's net profit rose to RM181.64mil from RM155.95mil in the previous corresponding quarter, while revenue in 1Q25 grew to RM299.99mil from RM232.96mil a year earlier. MyEG said the improved performance was due to contribution from service fees for applications on the Zetrix blockchain platform such as ZTrade, ZCert and Digital ID registrations and transactions; and contribution from the sale of Zetrix tokens.
The Star
20-05-2025
- Business
- The Star
MyEG to drive organic growth this year through Zetrix
PETALING JAYA: MyEG Services Bhd (MyEG) expects to continue its initiatives in Zetrix, a layer-1 public blockchain infrastructure, to drive its organic growth for this year. In a filing with Bursa Malaysia, the e-government services provider said these initiatives include the commercialisation of innovative services as Zetrix becomes widely adopted. 'In addition, with Artificial Intelligence (AI) technology becoming widely adopted, the company intends to leverage on this evolving technology to develop Agentic AI, which is able to operate and perform tasks without any human supervision.' For the first quarter ended March 31, 2025 (1Q25), MyEG's net profit rose to RM181.64mil from RM155.95mil in the previous corresponding quarter, while revenue in 1Q25 grew to RM299.99mil from RM232.96mil a year earlier. MyEG said the improved performance was due to contributions from web3 application service fees on the Zetrix blockchain platform, such as ZTrade, ZCert and Digital ID registration and transaction; and contributions from the sale of Zetrix tokens. 'Barring any unforeseen circumstances, the board is cautiously optimistic that the long-term outlook for MyEG remains positive as we continue to introduce innovative services in Malaysia as well as globally.'
