PETALING JAYA: The lucrative government e-services space will see the entry of a new player, MyPay, which is backed by a company majority-owned by Permodalan Nasional Bhd (PNB).
The developer of the MyPay portal, Dapat Vista (M) Sdn Bhd, is currently 80%-owned by HeiTech Padu Bhd, which is in turn, majority-owned by PNB.
Dapat Vista has been involved in government SMS services for the past 10 years.
Its portal MyPay, which launches next month, is set to offer services including payment of summonses, student loans, and local taxes such as assessment and quit rent.
The portal will also offer information such as travel status, licence expiry and voting locations during elections, among other services.
The biggest player in the e-services space for many years has been MyEG Services Bhd, which covers various services including road tax renewal, foreign worker permit renewal, summons checking and zakat payments.
The entry of MyPay means MyEG will soon be faced with a new competitor.
MyEG, which has seen its share price dip some 57.45% over the past 12 months, could see further pressure due to this.
The stock has plunged following the May 9, 2018 general election, due to perceived links to the previous administration, while more recently, the government e-services provider was hit after being implicated in charges against former deputy prime minister Datuk Seri Dr Ahmad Zahid Hamidi.
However, the company later clarified to Bursa Malaysia that it was not under investigation in relation to the charges.
When contacted, MyPay CEO Nick Liew, however, said there would not be much of an overlap between its services and that of MyEG, for now.
He told StarBiz that MyPay’s services would be more “MyKad-centric”, offering services that can be accessed by using MyKad details.
“We are focusing on citizens first. We do not intend to go into the foreign worker permit space, which is largely covered by MyEG,” he said.
For now, he said, the overlap would mostly be in the areas of summonses and local taxes.
“But keep in mind that more services will be added in the future, so the overlap could potentially widen in the future,” he said.
On the ownership of Dapat Vista, Liew said it was currently in talks with several investors, indicating a potential shift in the ownership structure.
“We are open for investment at the moment,” he said.
Moving forward, he said MyPay expects to have a mobile app and a desktop version of its site in 12 months.
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