MyEG proposes bonus issue

Bonus issue serves to reward existing shareholders of MyEG and encourage trading liquidity of MyEG shares on Bursa

By AZALEA AZUAR / Pic source

MYEG Services Bhd is proposing a bonus issue of up to 4.15 billion new ordinary shares on the basis of one bonus share for every one existing MyEG share held.

The company, in a bourse filing yesterday, said the entitlement date for the proposed bonus issue will be determined and announced at a later date after the receipt of all relevant approvals.

It said the proposed bonus issue serves to reward existing shareholders of MyEG and encourage trading liquidity of MyEG shares on Bursa Malaysia Securities Bhd.

The group’s issued share capital stood at RM638.78 million, comprising 3.67 billion shares as of March 10.

Based on MyEG’s three-month volume-weighted average price of RM1.75 up to March 10, the theoretical ex-bonus share price is 88 sen per share.

Earlier, MyEG said it is expected to offer more hotel options on its online hotel quarantine booking platform SafeQ if demand for the quarantine scheme picks up.

The company recently launched SafeQ as part of its initiative to reduce congestion in hospitals and quarantine centres that take in low-risk Covid-19 patients.

Its hotel selection is currently limited to the Club Saujana, a five-star resort hotel in Shah Alam (Selangor) and Silka Cheras Hotel located in the city centre.

Individuals looking to spend their days in quarantine in hotels can pay from RM350 per guest at the Club Saujana or RM70 per guest at Silka Cheras, the latter includes three meals a day.

Companies or employers can also opt to carry out the quarantine process for their foreign workers at Silka Cheras at RM70 per pax-per night.

MyEG project director Datuk Nor Adnan Zainal Abidin said the platform has received more than 30 bookings for the two hotels since its launch in February. He is confident the number of bookings will increase over time.

“Currently, the National Disaster Management Agency (Nadma) sees SafeQ as a pilot project. If there is heightened demand and the project proves to be a success, MyEG will expand the hotel list,” Nor Adnan told reporters in Shah Alam yesterday.

He said SafeQ has three teams which are divided into transportation, medical and sanitisation where they are on a 24/7 shift.

Nor Adnan added that patient’s needs — beginning from their transportation, meals and health checks — will all be taken care of by SafeQ’s staff, adhering to the standard operating procedures.

“When the customer logs into the SafeQ portal, he would be required to fill up the form and go through all the details. We are in close contact with the district health office, where we have Petaling and Klang here as they are the ones who manage and issue the patient’s quarantine letters,” he said.

To avoid causing a stir in the Covid-19 patient’s neighbourhood, they are picked up with regular vehicles to their designated hotels instead of an ambulance.

The drivers are also required to wear full personal protective equipment.

Apart from the three teams, the Club Saujana deploys the People’s Volunteer Corps officers to ensure the safety and security of the patients.

“Every day the medical staff will record the temperature of the guests to ensure if they are having fever or not. If necessary, the guests would be sent to the hospital.

“Once the quarantine period is over, we will take the patients to the health district office to conduct swab tests and so on. If they are negative, we will release them,” Nor Adnan said.

The services offered by the hotels on the SafeQ portal adhere to strict standards and conditions as they are approved by the Ministry of Health, Nadma and the Petaling District Council, he added.

The Club Saujana can accommodate more than 160 patients, while Silka Cheras can accommodate approximately 400 patients. There are about 80 rooms in the Club Saujana and 200 rooms in Silka Cheras.

Low-risk Covid-19 patients who wishes to quarantine themselves at SafeQ-listed hotels can book via