Clear skies ahead for MyEG?
Emmanuel Samarathisa | 12 Jul 2019 00:30
No company understands market volatility better than MyEG Services Bhd. Prior to the 14th general election, the e-government services provider was the darling of stock market investors. Its shares had soared to an all-time high of RM2.60.
But after the shocking May 9, 2018 defeat of then prime minister Datuk Seri Najib Razak and his Barisan Nasional coalition, MyEG plummeted and hit limit down around 70 sen. This was due to allegations that MyEG MD Wong Thean Soon or better known as TS Wong was close to Najib and his wife Datin Seri Rosmah Mansor.
Indeed, post-election, it has been a rocky period for MyEG but of late, its fortunes seem to have turned. Its share price has been trending upwards, rising to RM1.50 from 90 sen at the beginning of the year, thus raising the question of whether the worst is over for the group.
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