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KUALA LUMPUR, Nov. 29 – MY EG Services Bhd (MyEG) reported a net loss of 97.47 million RMB for the quarter ended September 30, 2018, compared to a net profit of 56.11 million RM in the previous quarter.
Revenues, however, rose to 138.33 million rupees, against 107.44 million rupees previously, according to a statement from Bursa Malaysia.
The government's electronic service provider attributed this loss primarily to a write-down of RMB 95.45 million due to an associated enterprise and a write-down of RMB 76.29 million related to the removal of the RMB regime. goods and services tax.
Among the reasons for this improvement is the recognition of a reported turnover of RMB 19.94 million resulting from the sale of solutions to an associated company in previous years and an increase in the volume of commercial services transactions. .
In the future, MyEG said that it would continue to introduce innovative services leveraging new technologies to drive growth for the fiscal year ending September 30, 2019 (FY19). .
"We are expanding our regional presence in Asia with the recent introduction of new joint ventures and new services in the Philippines, Bangladesh and Indonesia. It is these new markets that will also potentially contribute to our growth for fiscal year 19, "he added.
The closing date of the MyEG fiscal year was changed from June 30 to September 30. As a result, there was no adequate comparative financial information for FY18. – Bernama
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