MYEG's underrated blockchain business?

Looking back at MYEG's results for the first quarter of 2024, shareholders discovered that the company's business turnover outside Malaysia reached 79 million. According to management, it was mainly due to the contribution of the Zetrix blockchain.

Speaking of the Zetrix blockchain, investors have to understand the Zetrix ecosystem created by MYEG. This ecosystem includes Ztrade (mainly decentralizing products exported to China and speeding up the review process), Supply Chain Finance (SCF) is a financial solution that aims to optimize cash flow by allowing companies to extend payment terms to suppliers while providing suppliers with the option to receive payments in advance), Multi Chain Wallet (a trading platform for Zetrix tokens), Multi Chain Wallet (a trading platform for Zetrix tokens) Credentials Service. A digital certificate 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 for education, professional certification, and identity verification. Currently, MYEG is responsible for digitizing Chinese people's ID cards and driver's licenses.

Opening MYEG's Ztrade website, we can see that currently only Malaysia is using it, while Indonesia will launch it this year, and other countries are still planning to do so. The Philippines did not sign an MOU with MYEG's Philippine subsidiary last year, and I believe it will be launched soon. Interestingly, all of the above countries are ASEAN countries (ASEAN) that have signed the RCEP Free Trade Agreement. And RCEP is currently the largest free trade agreement in the world. It covers 10 ASEAN countries and 5 non-ASEAN countries.