The Board of Directors of MYEG (“the Board”) wishes to inform that the Company had received a Letter of Acceptance dated 8 October 2020 from the Ministry of Health, Malaysia to undertake the provision of an online payment system for inbound travellers to register and make payment, prior to their arrival in the Country, for COVID-19 Screening Test and Quarantine Charges to be implemented at all entry points to the Country (“the Project”).

The Project is intended to facilitate the implementation of the relevant government measures to control the outbreak of the COVID-19 virus by enhancing and expediting the process of administering COVID-19 screening and designating quarantine locations for travellers, both Malaysians and non-Malaysians, arriving in Malaysia.

The tenure of the Project shall be two (2) years, effective from 1 November 2020.

The Project has no fixed value as it is dependent on the number of transactions and the service options selected by users.

The Board is of the view that the Project is in the best interest of the Company and is expected to contribute positively to the earnings and net assets per share of the Company for the financial year ending 31 December 2020 onwards.

None of the directors and/or substantial shareholders of the Company or persons connected to such director and/or substantial shareholder has any interest, direct or indirect, in the Project.

This announcement is dated 8 October 2020.