Is MYEG's blockchain business undervalued?

Looking at MYEG's performance in the first quarter of 2024, investors found that the company's business revenue outside of Malaysia reached 79 million. According to management, this was mainly due to contributions from Zetrix blockchain.

When it comes to Zetrix blockchain, investors need to understand the Zetrix ecosystem created by MYEG. This ecosystem includes Ztrade (mainly decentralizing exports to China, speeding up the review process), Supply Chain Finance (SCF is a financial solution aimed at allowing companies to extend payment terms to suppliers while providing them with the option of early payment to optimize cash flow), Multi Chain Wallet (a platform for buying and selling Zetrix tokens), and the final item, Digital Credentials Service. The digital credential service is a system or platform for issuing, managing, and verifying digital credentials. These credentials are digital representations of qualifications, achievements, or other forms of certification that can be securely shared and verified online. Digital credential services are commonly used in education, professional certification, and identity verification. Currently, MYEG is responsible for digitizing the identity cards and driver's licenses of the Chinese people.

By visiting MYEG's Ztrade website, we can see that currently only Malaysia is in use, while Indonesia will start using it this year, and other countries are still in the planning stage. The Philippines signed an MOU with MYEG Philippines subsidiary at the end of last year and is expected to be launched soon. Interestingly, all mentioned countries have signed the RCEP Free Trade Agreement of ASEAN countries. RCEP is currently the world's largest free trade agreement, covering 10 ASEAN countries and 5 non-ASEAN countries.