KUALA LUMPUR: My E.G. Services Bhd's (MyEG) net profit rose to RM316.01 million for the financial year ended Dec 31, 2021 (FY2021) from RM268.16 million a year ago.

       Revenue jumped to RM724.41 million from RM532.06 million previously.

       The e-government service provider said the increase in both earnings and revenue was primarily attributable to the full 12 months contribution from the new concession and commercial services introduced in the second half of FY2020.

       "The better performance was also contributed by an overall increase in online transaction volumes for its existing concession and commercial services, as users continue their preference for online transactions due to the COVID-19 pandemic," it said in a filing with Bursa Malaysia today.

       For the fourth quarter ended Dec 31, 2021 (Q4 FY2021), its net profit increased to RM80.58 million from RM75.51 million in the same period a year ago while revenue rose to RM234.42 million against RM149.89 million previously.

       "The directors have proposed a final dividend of 1.03 sen per ordinary share for the shareholders’ approval at the forthcoming annual general meeting, the date of which will be announced later," it said.

       Moving forward, MyEG said the board is cautiously optimistic that the long-term outlook for the group remains positive as it continues to introduce innovative services in Malaysia and countries where it has a presence to drive organic growth for FY2022.

       "Although this pandemic is ongoing, we are optimistic that our business will remain resilient while we remain vigilant for new opportunities," it said. - Bernama