KUALA LUMPUR: MyEG Services Bhd is the most active stock traded in early trade Thursday following news that its associate seeks to be payment processor in the Philippines.
The counter gained 3%, or three sen to RM1.03 with 28 million shares traded.
MyEG’s associate company has inked a preliminary agreement seeking to be a payment processor and payment gateway business enterprise for offshore transactions in the Philippines’ Cagayan Special Economic Zone and Freeport.
The associate I-Pay MyEG Philippines Inc signed the Memorandum of Understanding with the Cagayan Economic Zone Authority on Monday.
MyEG said the MoU was to allow IPMPI to register as a Financial Technology Solutions Business Enterprise license applicant, to enable it to offer the said services.