Latest news with #RM181.64mil
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.'
