Yesterday it was announced that Bjcorp will issue Loan Stock(Right issue) of RM615M to finance the purchase of (70%) of "VT" very own Ascot Pte. Ltd. which hold a permit for football gambling in Malaysia for a cash consideration of RM 500 M, . The loan stock will carry 8% interest per annum. "VT" is the major shareholder of Bj Group of company.
So "VT" has just profited with RM500M prior to the launching of the gambling business, and still holding the remaining 30% of the Ascot company. It is really a fantastic achievement(Windfall) in Bursa KL Listing.
The analysts have forecast that it may only bring 2--5% of additional profit to the Bjgroup, in view of the higher Tax and larger pay-out % structures in this new gambling games.
Whereas the associated gambling company BJ-TOTO may not benefit much as it will only act as a middle agents for the gambling activities.
So Traders and Investors , you make your very own decision on the above company stocks.
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