Financials

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Quarterly Report For The Financial Period Ended 31 March 2013

Financials Archive

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Condensed Consolidated Statement of Comprehensive Income
For the Third Quarter ended March 31, 2013
(The figures have not been audited) Condensed Consolidated Statement of Financial Position
As at March 31, 2013 Performance of the Group

The Group posted Revenue and Profit after Taxation ("PAT") of RM20.42 million and RM9.50 million respectively for the third financial quarter ("Q3 FY2013") as compared to RM18.34 million and RM7.20 million respectively in the corresponding quarter ("Q3 FY2012"). The increase of approximately RM2.08 million (or 11.3%) and RM2.30 million (or 31.9%) in Revenue and PAT respectively is driven primarily by continued strong growth for our online renewal of insurance and road tax transactions and generally higher volumes from all JPJ related services.

For the year to date period ended 31 March 2013 ("9M FY2013), the Group recorded Revenue of RM55.67 million as compared to RM49.45 million in the corresponding period ("9M FY2012). This represents an increase of RM6.22 million (12.6%) in Revenue. PAT for 9M FY2012 increased by RM4.84 million (25.1%) to RM24.12 million as compared to RM19.28 million achieved in 9M FY2012. The increase in Revenue and PAT is primarily attributable to an overall increase in transaction volume across all our e-government related services driven by our ongoing advertising and promotion campaigns to create and enhance brand awareness.

Prospect of the Group

For the financial year ending 30 June 2013, existing services will continue to contribute to our Group revenue. New services for online vehicle ownership transfer services as well as online renewal of foreign worker's permit under the Immigration Department is being well received. In addition, the Group will focus on completing the implementation of the online service tax monitoring project.

Barring any unforeseen circumstances, the Directors of MyEG are of the opinion that the results for the financial year ending 30 June 2013 ("FYE 2013") will continue to be satisfactory as awareness of our existing services and brand name continues to increase while new services would continue to be rolled out in FYE2013.