Written by Isabelle Francis
Thursday, 10 December 2009 12:31
KUALA LUMPUR: MyEG Services Bhd will invest RM40 million in its pilot project for a services tax collection system over the next two years as it looks to expand its businesses outside road transport-related segment.
Executive chairman Datuk Dr Norraesah Mohamad said today, it aims to roll out the system in the first half of next year covering the section C and D of the services sector, which covers eateries and entertainment centers.
She said the government concessionaire for the E-Government MSC Flagship applications expects to recoup the investment, which would be sourced from its coffers, two years after the full implementation of the system.
“We are will roll out in the later part of the first half (2010), only in the Klang Valley” she told reporters after its AGM in Kuala Lumpur today.
At the MyEG AGM, shareholders approved its plans to buy back 10% of its paid-up capital.