Business

Published: Thursday December 6, 2012 MYT 3:12:00 PM

MyEG to launch more commercial services


KUALA LUMPUR: My E.G. Services plans to launch more commercial services in mid-2013 which includes registering new vehicles and e-application of new vehicle registration numbers.

According to CIMB Equities Research on Thursday, MyEG's transaction fee for the registration of new cars is expected to be RM50 compared to about RM200 using the runners, "making this a highly viable business proposition".

The research house said these services would be positive for the stock.

" The recent price weakness due to election risk concerns offers investors the opportunity to accumulate the stock at cheaper levels," it said.

CIMR Research raised the target price for My EG from RM1.27 to RM1.34 with an Outperform, recommendation.

At 3.30pm, My EG was up 0.5 sen to 76 sen. There were 286,400 shares done at prices ranging from 75.5 sen to 76 sen.

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