MyEG Services (MyEG) is looking to roll-out the custom service tax monitoring system project (CSTM) in early-2014. The company is also in the process of commissioning its service for the registration of new cars and a new bidding system for new car number plates. Sources said the government has agreed in principle but the letter of award it not out yet.
- The CSTM is targeted to link close to 100,000 point of sales terminal from about 20,000 restaurant and entertainment outlets nationwide. The company is also working with a local bank to launch a mobile payment system called iPayEasy that its compatible to the CSTM system. (Financialdaily)
The proposed CSTM project is not a surprise. Management has been working on this project over the past few years and if all goes well, the CSTM project should start in end-2013. The company is expected to sign the concession on the CSTM soon. Please refer to our Jun 19 MyEG report for further details.