“MyEG wishes to assure all our valued users that the provision of road tax and driving licence renewals continues uninterrupted.
“The company remains committed to serving the Malaysian public by providing a secure and convenient online platform for vehicle owners and drivers to renew their road taxes and driving licences respectively,” it said in a Bursa Malaysia filing yesterday.
The filing is the e-government services provider’s first public statement on transport minister Loke Siew Fook’s announcement last Friday that private vehicle owners are no longer required to display road tax stickers on their vehicles or carry a physical copy of their driving licence.
Following Loke’s statement, panicked investors sold off 787.22 million shares, causing MyEG’s share price to fall 10 sen or 14.69% to 61 sen, valuing the company at RM4.53 bil.
The fall came on the heels of a 26.7% crash the previous Tuesday (Feb 7) after immigration director-general Khairul Dzaimee Daud announced that all immigration services would be fully back under government management by 2025.
In a separate release, MyEG said that starting from Feb 10, private vehicle owners are no longer required to display road tax stickers on their vehicles, but instead can use the digital Motor Vehicle Licence (e-LKM).
Also available in digital display mode from yesterday is the digital Malaysian Driving Licence (e-LMM), it noted.
“The digital display mode of e-LKM and e-LMM can be downloaded through the Road Transport Department public portal or MyJPJ mobile application, under an in-house pilot project,” it added.
At yesterday’s closing, MyEG’s share price was 3.31% higher at 62.5 sen, with a market capitalisation of RM4.67 billion.
China blockchain research programme
Meanwhile, MyEG announced its blockchain infrastructure – Zetrix – has been selected by the Chinese government as a component of its government-to-government collaborative research programme leading to commercialisation.
In a filing with Bursa Malaysia yesterday, it said that Zetrix, a layer-1 public platform developed by MyEG, is the international super node for China’s national blockchain, Xinghuo, and is fully compatible with it.
It said the collaboration also includes Universiti Malaya (UM) and the China Academy of Information and Communications Technology (CAICT) as strategic partners. This is expected to strengthen Malaysia-China trade and data interoperability, and further propel Malaysia into the Web3 era.
Initiated by China’s ministry of science and technology, Malaysia is one of the 14 countries participating in the programme, it added.
“The China-Malaysia government-to-government cooperation covers four sectors, namely public health such as vaccine research and development, artificial intelligence, information and communications technology (blockchain, big data, and others) as well as space remote sensing technology,” it said.
MyEG said that the research would involve proposing a system that could prevent fraud in supply chain processes using blockchain technology for cross-border trade.
“The system comprises smart contracts collaboration supported across the multiple parties involved in China-Malaysia trade including the Belt and Road Initiative countries.
“The system should enable all stakeholders to collaborate in cross-organisational information exchanges, all backed by a secure, unalterable audit trail,” it explained.