KUALA LUMPUR: Investors dumped My EG Services Bhd
's (MyEG) shares at the start of Tuesday trading as the company was expected to be negatively impacted by the reversion of immigration services and processes to the Immigration Department in 2025.
The stock gapped down 30 sen or 31.41% to the bottom limit of 65.5 sen a share at the opening bell, as investors reacted with a flurry of selling activity.
As at 10.18am, the share had pared losses to trade 18.5 sen or 19.4% lower at 77 sen a share on the back of 599.83 million units exchanging hands.
A New Straits Times article yesterday cited Immigration director-general Datuk Khairul Dzaimee Daud as saying the department was moving to directly handle all immigration transactions, including those currently being handled by outside parties, via the national integrated immigration system (NIISe).
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