Latest news with #ZetrixAIBhd
New Straits Times
a day ago
- Business
- New Straits Times
Zetrix AI set for revenue boost from MyDigital ID
KUALA LUMPUR: Zetrix AI Bhd, formerly MyEG Services Bhd, is poised for robust revenue growth due to its expanding suite of verifiable credential (VC) applications under Malaysia's national blockchain initiative. Maybank Investment Bank Bhd (MaybankIB) said MyDigital ID is already generating revenue for Zetrix AI, with 40 sen per transaction attributable to the company from service providers that use MyDigital ID to authenticate credentials. The firm said these service providers include government agencies such as the Immigration Department, social media companies, government-linked companies, and even start-ups like Masverse, iTrace, and Cokeeps. "We estimate that Zetrix AI accrued about RM5 million in revenue from VC authentication in the second quarter (Q2) 2025 – a figure we expect to double in Q3 2025. "For FY25, we forecast VC-related revenue to top RM40 million (imputed in our earnings)," it said. Meanwhile, MaybankIB expects revenue to increase further once the My Superapp goes live later this month. It said the app will allow Malaysia's about 40 million annual foreign visitors to digitise their passports and driving licences for use in the country. "Zetrix AI plans to charge RM100 per application, and despite being optional, revenue potential could be substantial even if a fraction of foreign visitors subscribes for the convenience," it said. Overall, MaybankIB has maintained its financial year 2025 (FY25) to FY27 earnings forecasts. "We maintained "Buy" on the stocks with a lower target price of RM1.45 from RM2.00 previously. "Our current valuation peg is also better reflective of Zetrix AI's move away from its business model as an exclusive government-to-government service provider to that of a national blockchain developer," it added.
New Straits Times
2 days ago
- Business
- New Straits Times
Bursa's technology index driven by renewed buying interest
KUALA LUMPUR: Bursa Malaysia Technology Index outshines its peers on Thursday, with four component stocks ranking among the most active on the exchange. Driven by renewed buying interest following the United States-Vietnam trade agreement, the index rose 2.1 points or 4.04 per cent to close at 54.13 from Wednesday's close of 52.03. Trading volume soared over 333 million units, reaching its highest level in seven weeks. The index, comprising 49 component stocks, has climbed 11 per cent since June 23, although it remains down 16.9 per cent year-to-date. Zetrix AI Bhd, formerly known as MyEG Services Bhd, led the most active board with more than 68 million shares traded. The stock gained one sen or one per cent to 97.5 sen from the previous close of 96.5 sen, lifting its market capitalisation to RM7.43 billion. The other three high-volume tech stocks were NexG Bhd, Dagang Nexchange Bhd (DNeX) and Inari Amertron Bhd, which saw trading volumes ranging from 28.5 million to 56 million units. NexG rose one sen or 2.6 per cent to 39 sen, DNeX climbed one sen or 3.4 per cent to 30 sen and Inari edged up 15 sen or 7.5 per cent to RM2.15. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the index was driven by robust buying interest in semiconductor and electronics-related counters, in line with the tech-led gains on Wall Street. "While the deal spares Vietnam from the most severe trade penalties, it reflects a more fragmented and protectionist global trade landscape. "While domestic market breadth remains constructive and foreign participation encouraging, the external environment continues to evolve. "Investors are advised to remain vigilant as global trade dynamics, monetary policy signals and geopolitical tensions continue to shape the near-term outlook," he added. According to Reuters, US President Donald Trump announced that Washington would impose a lower-than-expected 20 per cent tariff on a range of Vietnamese exports. He also revealed that trans-shipments from third countries routed through Vietnam would be subject to a higher 40 per cent tariff, while Vietnamese imports of US goods would enjoy a zero per cent tariff. The announcement lifted sentiment across regional markets. Vietnam's benchmark index climbed 0.6 per cent to its highest level since April 2022, while Singapore's market edged up 0.2 per cent and Thailand's stocks gained 0.9 per cent.
New Straits Times
2 days ago
- Business
- New Straits Times
Malaysia's tech index outpaces peers after US-Vietnam trade deal
KUALA LUMPUR: Bursa Malaysia Technology Index outshines its peers on Thursday, with four component stocks ranking among the most active on the exchange. Driven by renewed buying interest following the United States-Vietnam trade agreement, the index rose 0.78 of-a-point or 1.5 per cent to 52.81 at midday from Wednesday's close of 52.03. Trading volume soared to 21.7 million units, reaching its highest level in nearly four weeks. The index, comprising 49 component stocks, has climbed 8.6 per cent since June 23, although it remains down 18.9 per cent year-to-date. Zetrix AI Bhd, formerly known as MyEG Services Bhd, led the most active board with over 50 million shares traded in the morning session. The stock gained one sen or one per cent to 97.5 sen from the previous close of 96.5 sen, lifting its market capitalisation to RM7.5 billion. The other three high-volume tech stocks were NexG Bhd, Dagang Nexchange Bhd (DNeX) and Inari Amertron Bhd, which saw trading volumes ranging from 20.7 million to 40.4 million units. NexG rose half a sen or 1.32 per cent to 38.5 sen, DNeX climbed half a sen or 1.71 per cent to 29.5 sen and Inari edged up four sen or two per cent to RM2.04. Malacca Securities Sdn Bhd said Wall Street's sentiment improved after the US-Vietnam trade agreement, which imposes a 20 per cent tariff on Vietnamese goods while allowing US products to be sold in Vietnam without duties. "With a positive lead from Wall Street, especially the buying interest in tech stocks following the trade deal, we expect the buying interest to spillover to the local exchange. "With the resumption of optimism surrounding the data centre developments, traders may want to monitor technology and telecommunication stocks like EG Industries Bhd, Mi Technovation Bhd and Telekom Malaysia Bhd," the firm said.
New Straits Times
5 days ago
- Business
- New Straits Times
MyEG to rebrand as Zetrix AI on July 3
KUALA LUMPUR: MyEG Services Bhd has announced that it will change its name to Zetrix AI Bhd, effective 9am on July 3. In a filing to Bursa Malaysia, the company said its stock short name will also change from MYEG to ZETRIX. "The company's stock code remains unchanged," it added. MyEG, a digital services provider, is the concessionaire for the Malaysia Electronic-Government MSC Flagship Application, responsible for building, operating and managing the online platform that delivers services from various government agencies to citizens and businesses. MyEG share price closed one sen or 1.06 per cent higher to 95 sen, valuing the company at RM7.35 billion.
The Star
5 days ago
- Business
- The Star
MyEG changes name to Zetrix AI effective July 3
KUALA LUMPUR: MyEG Services Bhd (MyEG) today announced its name change to Zetrix AI Bhd effective 9 am, July 3 (Thursday). In a filing with Bursa Malaysia, the company said its stock short names would be changed from MYEG to ZETRIX "The stock number remains unchanged,' it added. MyEG is a concessionaire for the Malaysia Electronic-Government MSC Flagship Application, builds, operates and owns the electronic channel to deliver services from various government agencies to Malaysian citizens and businesses. - Bernama
