• Home

KLSE Bursa Malaysia Blog One-Stop

KLSE or Bursa Malaysia stock market latest blogs, KLCI and stocks news updates.

  • Home

Blogger's Blog Updates

  • Millionaire Trend Trader
    FBM KLCI - dragged lower by selling in TENAGA-led heavyweights - Stocks on Bursa Malaysia ended mixed Thursday with the benchmark FBMKLCI curtailing its recent rally as continued selling in selected heavyweights, led ...
    1 day ago
  • A PEGGY Method of Stock Market Share Fair Value Target Price IPO Dividend
    EPF Yearly Dividend - Source: The Star
    5 years ago
  • A PEGGY Method of Stock Market Share Fair Value Target Price IPO Dividend
    EPF Yearly Dividend - Source: The Star
    5 years ago
  • Blackspy fundamental
    Good Bye Maybank 2 Gold Cards~ - I used to use Maybank 2 Gold Cards for last few years. But after revise cashback policy. It is not as attractive as before. I do believe Public Bank Qua...
    5 years ago
  • Bursa Malaysia Stock Market Analysis Digest
    Technical - SKPRES (7155) - SKP RESOURCES BHD SKPRES has gapped- - up to close above the EMA20 level accompanied by improved volumes. The MACD Indicator has issued a BUY Signal, while...
    6 years ago
  • Bursa Malaysia Stocks and Shares Analysis
    FBM KLCI and Malaysia GE14 - Last Friday, PM Najib announced the dissolution of Parliament. In the past, polling was held 17-32 days after dissolution. We believe the first weekend of ...
    7 years ago
  • KLSE Bursa Malaysia Blog One-Stop
    Bursa Malaysia Shares: Stimulus Hopes and Oil Price to Underpin Sentiment - Bursa Malaysia shares managed to rebound from early decline in choppy trade Thursday, in line with most of the regional markets as weak trade data from Jap...
    8 years ago
Home » » Berjaya Corp: Stock hits by uncertain status of sports betting licence.

Berjaya Corp: Stock hits by uncertain status of sports betting licence.

  Joehari Matt    

Berjaya Corp Bhd's share price slumped to its lowest in more than three months due to the uncertainty over the sports betting licence status of Ascot Sports Sdn Bhd.


The stock fell 6.2 per cent, or 9 sen, to close at RM1.37 yesterday. It was the third most active stock traded on the exchange.

Tan Sri Vincent Tan's BCorp (3395) was planning to buy 70 per cent of the privately-held Ascot for RM525 million. Ascot was granted the sports betting licence last month, but this has been met with mixed reaction from various groups, with most of them opposing the move.

On Monday, the Finance Ministry said it might review the decision to allow sports betting and a final decision would be made next week after gathering public feedback.

Losing out on the licence would be the second significant setback for Tan this year, after plans to set up a manufacturing plant in Malaysia to build right-hand-drive cars for the Asean market hit a wall, also due to licensing issues.

BCorp was planning to make the 1-litre cars for BYD Auto Co Ltd, a Chinese carmaker partly financed by Warren Buffett's Berkshire Hathaway.
In February, Business Times reported that the government did not plan to relax rules under the National Automotive Policy, which only allows new manufacturing licences for cars of 1.8 litres and above.

Nevertheless, BCorp is still in the running for a lottery project in Vietnam, which will make it the first non-Vietnamese state-owned company to run a lottery business.
In the year ended April 30 2009, BCorp suffered a net loss of RM53.38 million despite posting RM6.33 billion sales.

The major driver to group sales was the gaming business led by Berjaya Sports Toto Bhd, which contributed RM3.69 billion, followed by RM1.49 billion from the marketing business led by Cosway Corp Bhd.

Currently, BCorp has about RM3.9 billion debts and, according to an AmReserach report, aims to raise RM800 million by selling its non-core assets next year.

 

source: BTimes

Blogger's Blog Updates

  • 1KLSE
    KPJ Healthcare Berhad - Announcement - Oct 07, 2021 Dear investors, The following announcements have been uploaded into KPJ Healthcare Berhad Investor Relations website. - Changes In S...
  • Talk About Share Market
    Be cautious of small caps run on Bursa - THE small to medium caps run on the stockmarket this round is not quite the same as previously when their share prices were ramped up as a result of specul...
  • davors investment setting
    Stock Track - 13 APRIL 2011 (BJTOTO) - Will have a look on BJTOTO for coming few days as rumors flow. KUALA LUMPUR, April 12 — Tycoon Vincent Tan is considering selling a 49 per cent stake in th...

News

Links

  • KLSE 2U
  • Bursa Malaysia My Blog
  • KLSE Online
  • Malaysia Bursa

About

KLSE Bursa

Web Links

  • Privacy Policy
Copyright © KLSE Bursa Malaysia Blog One-Stop. All rights reserved. Template by Romeltea Media | Published by FLYTemplate