Kuala Lampur:Ramssol Group Bhd's share price increased during early trading on Monday, driven by potential demand for its subsidiary, Rider Gate.

According to BERNAMA News Agency, Apex Securities Bhd noted that the suspension of MyEG and Zetrix AI as collection agents by JPJ from October 5, 2026, may present an opportunity for alternative platforms like Rider Gate to manage some of the affected transaction volumes. Although Rider Gate is not a direct replacement for MYEG, there is a significant overlap in services.

By 10:47 am, Ramssol's share price had climbed three sen to 78.5 sen, with 3.64 million shares traded. Apex Securities highlighted vehicle ownership transfers as a key opportunity for Rider Gate, given its focus on the used-motorcycle ecosystem. The platform could enhance its role in motorcycle transactions by facilitating JPJ ownership transfers and license renewals.

The suspension of MYEG might accelerate Rider Gate's involvement in JPJ transactions, especially if users look for alternative digital channels for overlapping services. However, the extent of migration to Rider Gate is uncertain, as users may continue to use JPJ's own platforms and other collection agents. Apex Securities does not expect a direct transfer of MyEG's transaction volume to Rider Gate but sees it as an incremental opportunity, with transaction volumes and user engagement as key performance indicators.

Rider Gate was appointed by JPJ as a collection agent in December 2025 for vehicle ownership transfer registration, motor vehicle license renewal, and electronic payment of summons for two years. The contract value is dependent on transaction volumes. In comparison, MYEG offers a wider range of JPJ-related services.

Apex Securities has maintained a 'Buy' recommendation on Ramssol, with a target price of RM 1.37 per share.