MyEG confirms it’s in talks on Bangladesh venture

PETALING JAYA: MyEG Services Bhd confirmed today that it is in talks with potential business partners to expand its footprint in Bangladesh, but it has yet to determine the actual commencement of operations.

“The company is constantly looking to expand its range of services and market presence. As such, the remittance service and the expansion into Bangladesh are potential new services and ventures which the company is aiming to embark on in the near future,” it said in a filing with the stock exchange.

MyEG said it will release the necessary announcements in a timely manner to Bursa Malaysia Securities Bhd should there be any material information which falls under the Main Market Listing Requirements.

In a recent report, CIMB Research quoted MyEG managing director Wong Thean Soon as saying that the company was targeting to begin operations in Bangladesh by year-end and the remittance services is scheduled to start next month.

MyEG’s share price closed unchanged at RM1.01 today. It was the most actively traded stock of the day with 140.8 million shares changing hands.