MyEG Bags 3-year Extension To provide Online Services For JPJ, To 2026

The agreement between MyEG Services Bhd and the Road Transport Department (JPJ) for providing the organisation with online services for driver and vehicle licencing, vehicle registration, and summons payment has been extended and is currently in effect. It will run from May 23, 2023 to May 22, 2026.

According to Bernama, MyEG stated in a filing with Bursa Malaysia that both companies have received appointment letters from JPJ confirming both as "collection agents for the provision of vehicle registration services, driver and vehicle licencing, and electronic payment of summon services for a three-year period."

“The estimated total value of the extension will be dependent on the number of transactions performed over this period. An agreement to formalise the extension will be signed and announced by the company in due course,” MyEG said in the filing.
The contract extension, which will allow motorists to use the platform to renew their driving licences and pay traffic fines, is expected to boost the company's earnings and net assets per share beginning in the fiscal year 2023.