MyHom to generate revenue by end-2018

> MyEG: Foreign worker accommodation scheme receives good response

PETALING JAYA: My E.G. Services Bhd (MyEG) expects its foreign worker accommodation programme MyHom, to begin generating revenue by the end of 2018.

Executive chairman Datuk Dr Norraesah Mohamad said the programme, which began in Malacca last year, will tap into the 1.5 million foreign workers in industrial areas nationwide.

“The programme was initiated by MyEG to improve the welfare of foreign workers in Malaysia. Before this, there was no security for foreign workers and the government could not monitor their movement.

“Many employers employ foreign workers but do not provide proper living space for them. It is a question of welfare as well as a social and security issue,” she told reporters at a briefing yesterday.

In addition, the Human Resources Ministry announced in May this year that it will amend the Standard Minimum Housing and Amenities Act 446 (1990), making it mandatory for employers to provide basic minimum standard housing for foreign workers by 2018.

Norraesah said MyHom has received good response so far and has even attracted interest of local workers who come from other states but the programme’s focus at the moment is on foreign workers.

“Our focus is on states with many industrial areas like Penang, Kedah (Kulim) and Selangor. We are already exploring opportunities in Selangor,” she said, adding that it will eventually expand the programme nationwide.

She said MyEG will lease land from the state governments, which is cheaper than acquiring private land, enabling it to offer affordable rental rates.

The accommodation can be rented by companies for their foreign workers or directly rented by foreign workers.

To date, it has completed its first phase of apartments in Masjid Tanah, Malacca, which are already occupied by 1,400 foreign workers. It will start construction on the second phase early next year, which will house 2,000 more workers.

The programme is available in two other areas in Malacca, namely Merlimau and Ayer Keroh.

Last month, MyEG announced that it is working with Johor Corp to provide foreign worker accommodation in Tanjung Langsat and Pasir Gudang. The two parties are also planning to expand the programme to Sedenak, Pengerang and Muar.

Norraesah said MyHom will help improve Malaysia’s Tier 2 status in the Trafficking in Persons Report 2017 to Tier 1 and also help attract foreign direct investments.

MyEG was established to develop and implement electronic government services based on a 15-year concession signed with the government in 2000. The concession has been extended by five years to 2020. It provides various e-services for government agencies such as the Road Transport Department, the Royal Malaysian Police and the Immigration Department.

For the third quarter ended March 31, 2017, revenue rose 41.5% to RM99.22 million from RM70.13 million a year ago, driven by higher transaction volumes from online renewal of foreign worker permits, foreign worker rehiring programme services, foreign worker insurance and motor vehicle trading related services.

MyEG’s share price closed unchanged yesterday at RM2.15 with 3.67 million shares traded, giving the company a market capitalisation of RM7.72 billion.