Bjtoto ... Apr12

Sources say as part of its efforts to diversify away from the mature local gaming market, it is looking to expand its operations in the Philippines by potentially acquiring a stake in the Philippine Charity Sweep stakes Office (PCSO).

It is currently suppliers and maintains a computerized online lottery system and provides software support for PCSO, a Philippine government owned agency. In return it gets a cut from PCSO’s ticket sales.

The company is interested in acquiring a stake in PCSO due to the potential growth in the gaming market there. There is possible if PCSO is privatized by the Philippine government.

Meanwhile in view of the its growing cash pile, there is a possibility of higher dividend payment payputs to shareholders. The company does not nee to spend much of capex with the limited scope for expansion in Malaysia.

Its cash pile grew to rm449 million at end April 201. As at Jan 2012, its cash and bank balances were lower at rm442 million. It has no borrowings.