At 3:41pm, MyEG saw 87.82 million shares, equivalent to 2.44% of its share capital, exchanging hands. They have also guided that all operations are 'business as usual'," UOB Kay Hian analyst Vincent Khoo said, adding that the allegations hurled at MyEG were "malicious" and "baseless". Meanwhile, UOB Kay Hian said MyEG had recently secured a new project for the electronic bidding system for special series vehicle number, which is currently implemented by the Road Transport Department. For now, UOB Kay Hian has kept its "buy" call and 12-month target price of RM1.06, which was based on 12.7 times forward price-earnings (PE) ratio, amid the current market uncertainty. "Our assessed trough valuation is 84 sen per share, based on 10 times FY19F (forward) PE," UOB Kay Hian added.

Source: The Edge Markets May 25, 2018 08:38 UTC