Earon Chueng's comment on MYEG. All Comments

Earon Chueng
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The announcements made by MYEG on 4 September 2015, 8 September 2015, 11 February 2016 and 23 January 2017 refer. Unless otherwise stated all definitions and terms used in this announcement shall have the same meaning as stated in the announcements.

Reference is made to the following:-

News Article dated 1 June 2018 appearing on the online news portal of the Star in respect of "Immigration Dept ends rehiring programme, impacts MyEG and two others” and News Article dated 2 June 2018 in respect of “MyEG contract to be terminated by end-June”.
News Article dated 1 June 2018 appearing on the online news portal of Malaysiakini in respect of "Gov't ends services of MyEG, two other Immigration Dept vendors”.
News Article dated 1 June 2018 appearing on the online news portal of the Malay Mail in respect of “Putrajaya”. to terminate re-hiring services of MyEG, two other Immigration Department vendors.
The Board wishes to clarify that the above News Articles which appeared to insinuate that the management of illegal foreign workers for the rehiring programme (“the Project”) was terminated on an ad hoc basis were inaccurate and misleading.

The Board wishes to reiterate that through the Company’s announcement dated 23 January 2017, the Board had announced that the Company had on 23 January 2017 received a notification letter from the Ministry of Home Affairs (“MOHA”) in relation to the extension of the Project until 31 December 2017 instead of 15 August 2016.

Furthermore, the Board wishes to clarify that new registration under the Project had ceased since 31 December 2017 in accordance to the MOHA’s letter dated 23 January 2017. The 30 June 2018 closing date as stated in the above News Articles is the grace period to allow all remaining registrants to complete all pending procedures under the Project.

Therefore, the issue of any ad hoc termination of the Project, as alluded to in the News Articles, does not arise as the Project, which is intended to run for a fixed duration, is adhering to its existing prescribed deadlines.

The Board would like to assure all parties that there are no changes to its business activities and all concession and commercial services are operating as usual.

The Board has and will always endeavor to make the necessary announcements in a timely manner to Bursa Securities of any material information which falls under the Main Market Listing Requirements.

This announcement is dated 4 June 2018.
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Kok Shen Teh
it will an interesting price movement later
1 Like · 5 years · translate
Jake Koh
agreed. overreaction and oversold.
2 Like · 5 years · translate
Mohd Khairuddin Mohamad Ariffin
conclusion ?
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Jake Koh
Buy if you believe in wong. haha
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Mohd Khairuddin Mohamad Ariffin
will buy @0.670
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Harapan Trader
nice try....
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