MyEG Makes Foray Into Indonesia

PETALING JAYA (Selangor), Nov 26 (Bernama) -- My E.G. Services Bhd (MyEG), through its wholly-owned sub-subsidiary, MY EG (Indonesia) Sdn Bhd, has signed a Memorandum of Understanding (MoU) with PT Cartenz Technology Indonesia (Cartenz) to invest in the Indonesian leading e-Government provider. The strategic partnership, subject to the fulfilment of relevant terms and conditions, will see MyEG investing US$10 million (US$1=RM4.19) for up to 40 per cent interest, said MyEG in a statement following the signing of the MoU here Monday.  It will also see MyEG and Cartenz jointly implementing a system which conducts real-time monitoring of business transactions for tax computation purposes across Indonesia. MyEG said Cartenz has installed the tax monitoring system in some 5,000 business outlets to-date, and has provided its tax revenue system to 76 local governments, including Jakarta and Bali. It added that the combination of the partners’ respective strengths – MyEG’s proprietary solutions alongside Cartenz’s track record and insights into the local operating landscape – was expected to boost the installations to a targeted one million. Additionally, MyEG and Cartenz will also collaborate on to roll-out other solutions that MyEG has deployed in Malaysia and the Philippines. MyEG Managing Director TS Wong said Cartenz is a like-minded partner that shares similar vision of harnessing the power of technology to advance government and commercial service delivery for the benefit of consumers.  "Even as we were rolling-out our tax monitoring system in Malaysia over the last two years, Cartenz has been doing likewise in Indonesia, which is proof enough that we share a common vision.  "Obviously, Indonesia's vast economic potential is undeniable, and we look forward to being very aggressive in deploying to one million outlets within three years,” he added. Headquartered in Jakarta, Cartenz is an information and communications technology company that is principally involved in the provision of information systems to all levels of government agencies for more efficient management, including in the administration of regional taxes.  MyEG’s foray into Indonesia is the third joint venture overseas for the group, having been active in the Philippines since 2017 and more recently in Bangladesh. Meanwhile, MyEG Executive Chairman Dr Norraesah Mohamad said MyEG is now the clear market leading e-Government services operator in ASEAN. “We will continue to replicate our model and export our system to other populous emerging markets, hence, achieving one of the objectives of the Multimedia Super Corridor that was first conceived 20 years ago by our visionary Prime Minister,” he said. She described the MoU as a clear testimony of the international recognition of MyEG’s capability and credibility as a technology company, underscoring MyEG’s leading position as a regional flag bearer in e-Government products and services. -- BERNAMA