My E G Services Berhad : Others

We refer to the aforesaid article, in particular the following paragraphs:

'My EG Services Bhd's (MyEG) announcements earlier this week about the setting up of new units to undertake new ventures, however, could have been better.'

'But an investor would wonder about MyEG's plans with its new acquisitions. How much will the company invest in these new ventures and what are the risks involved?'

The Board of Directors of MYEG ('the Board') wishes to stress that at all times the Company and the Board adhere to the highest standard of Corporate Governance and Corporate Disclosure standards. All announcements released by the Company adhere to Bursa Malaysia Securities Main Market Listing Requirements ('Main LR').

The Board wishes to clarify that the announcement on the incorporation of MY EG Lodging Sdn Bhd ('MYEG Lodging') and Hurr TV Sdn Bhd ('HurrTV') had followed the requirements under Chapter 9.19 sub-paragraph 23 of the Main LR. The setting up of the subsidiaries will allow MYEG to expand its business, which will complement its existing services.

The Board wishes to further clarify that at the time of incorporation, MYEG, MYEG Lodging and HurrTV had not entered into any agreements with any parties as discussions to formalize a business arrangement on the commercialization of its products and services are on-going. Once definitive agreements are signed, the Board will release further announcements pursuant to the Main Market LR.

This announcement is dated 25 July 2016.