Ramssol Share Price Up On Rider Gate Being A Potential Alternative Platform

KUALA LUMPUR, Oct 5 (Bernama) -- Ramssol Group Bhd’s share price rose in early trading on Monday amid potential demand for its wholly owned subsidiary Rider Gate.

According to Apex Securities Bhd, JPJ’s suspension of MyEG and Zetrix AI as collection agents from Oct 5, 2026 could provide an opportunity for alternative platforms, including Rider Gate, to handle part of the affected transaction volume.

Although not a direct replacement for MYEG, it said there is a meaningful overlap.

As at 10.47 am, Ramssol’s share price rose three sen to 78.5 sen with 3.64 million shares traded.

“We see vehicle ownership transfers as the most relevant opportunity, given Rider Gate's existing focus on the used-motorcycle ecosystem.

“Rider Gate could potentially expand its role in the motorcycle transaction process by facilitating JPJ ownership transfers and licence renewals alongside its existing platform services,” it said.

It also said the suspension of MYEG could potentially accelerate Rider Gate's JPJ transaction ramp-up, particularly if users seek alternative digital channels for the overlapping services.

“The extent of the migration, however, remains uncertain as users can continue to rely on JPJ's own platforms and other authorised collection agents.

“We, therefore, do not assume a one-for-one transfer of MYEG's historical transaction volume to Rider Gate. Instead, we view this as a potential incremental transaction opportunity, with transaction volumes, active users and average monetisation per transaction being the key indicators to monitor,” it said.

JPJ appointed Rider Gate as a collection agent in December 2025 for vehicle ownership transfer registration, motor vehicle licence renewal and electronic payment of summons for two years.

“The contract value depends on transaction volumes. By comparison, MYEG offers a broader range of JPJ-related services, including renewals of road tax renewals and driving licence, summons payment and vehicle ownership transfer, and other services,” it said. 

Apex Securities has maintained a “Buy” call with a target price of RM 1.37 per share.

-- BERNAMA