MyEG, Datasonic, Iris extend losses

KUALA LUMPUR (March 16): E-government service providers My EG Services Bhd (MyEG) and Datasonic Group Bhd — whose shares spiked to RM1.12 and 99.5 sen respectively on March 11 — extended their losses as at noon today.

Similarly, Iris Corp Bhd continued its downtrend after the technology stock stumbled to its lowest in a year on March 12 at 11.5 sen. At the midday break, Iris shares were 14.29% or 1.5 sen lower at 9 sen.

Meanwhile, MyEG lost 9.5 sen, down 9.22% to a low of 93.5 sen, after hitting a high of RM1.01 during the morning session. Datasonic fell 7.47% or 6.5 sen to 80.5 sen.

MyEG and Datasonic are believed to be in the race for two government contracts — the foreign visa system and the National Integrated Immigration System (IIS). The latter is reportedly worth a hefty RM1 billion to RM1.5 billion. Iris is also among the companies bidding for the IIS project.

Prior to the change of government, the two public contracts were expected to be announced in the current quarter.

The Employees Provident Fund board has re-emerged as a substantial shareholder in MyEG, over a year after it ceased as the tech firm’s substantial shareholder in December 2018.