MyEG Services gets RM553.85m project for online renewal of temporary employment passes

NST Business

KUALA LUMPUR: MyEG Services Bhd has signed a concession agreement with the Malaysian government to provide online renewal of foreign workers’ temporary employment passes for the Immigration Department.

In a filing to Bursa Malaysia, the company said the project would be for five years until May 22, 2020 and is renewable upon expiry subject to government approval.

"The total estimated value of the project for the duration of five years is approximately RM553.85 million," it said.

The board of directors said the project was expected to contribute positively to the earnings and net assets for the financial years ending June 30, 2017 onwards until the expiry of the project.