Are you still hold?

Magnum returns to the black despite lower revenue
Nov 2019
http://www.bursamalaysia.com/market/listed...cements/6343181

Magnum Bhd said on Tuesday its better performance was due to lower pre-tax loss recorded by the investment holdings division mainly due to tax penalty of RM44.20mil a year ago.

PETALING JAYA: Despite lower revenue, Magnum Bhd
has returned to the black with a net profit of RM48mil in the third quarter ended Sept 30, driven by lower net loss of investment holding and other divisions.

In a filing with Bursa Malaysia, the company said its information technology subsidiary had incurred a tax penalty of RM44.2mil and a pre-tax profit of RM5.5mil, resulting in net losses in the corresponding period last year.

This was off-set by a higher fair value loss on investments of RM1.88mil in the quarter.

Revenue, meanwhile, fell 2.2% to RM652.10mil in the quarter from RM667.10mil a year ago dragged down by the gaming sector.

“Gaming sales for the current quarter at RM652.1mil is lower than the previous year’s corresponding quarter by 2.3% or RM15mil. The decrease is mainly due to five fewer draws in the current quarter and the effect of the 6% service tax in the current quarter as compared to the ‘zero’ goods and services tax effect from June 1,2018 to Aug 31,2018, ” Magnum said.

The company has declared a third interim dividend of four sen per share for the quarter.

Given that the number of special draws had reduced this year, Magnum is cautiously optimistic that the growth trend in the per draw revenue in the nine-month period would offset the downward pressure from the drop in the number of special draws.

“With the sustained momentum of enforcement by the authorities on illegal operators and our ongoing rebranding and re-imaging exercise, the board expects the financial performance for the financial year 2019 to be similar to that of 2018.”
Read more at https://www.thestar.com.my/business/busines...jiqU54fOr2g5.99

NFO sales rebound
E417C150BFAA]https://media.thestar.com.my/Prod/25A897A2-...0C-E417C150BFAA[/url]

PETALING JAYA: Industry gross number forecast operator (NFO) sales are on a rebound, following active enforcement by the authorities to stamp out illegal gambling activities.

According to Maybank IB Research, Classic 4D sales across Malaysia have gone up. This is significant as Classic 4D accounts for an estimated 70% of industry gross NFO sales.

The research house raised its 2019 industry gross NFO sales per draw growth forecast to 3%, from 2% previously.

This conservatively implies only one percentage point contribution from more active enforcement.
“With no FIFA World Cup this year, we expect the gross NFO sales per draw of every NFO to recover 4% to 5% year-on-year (y-o-y) in the second quarter of 2019 (1% y-o-y on an annualised basis).

With fewer special draws (held on Tuesdays) in 2019, the firm expects gamblers tobet more on Wednesday draws.

“If 25% of the sales that would have been garnered by special draws that were reduced, were to migrate to Wednesday draws, our calculations indicate that 2019 industry gross NFO sales per draw could grow by 1% y-o-y,” said Maybank IB Research.

While the net impact of the growth forecast is to raise
BERJAYA SPORTS TOTO BHD’s earnings per share estimates by only 1% to 2% and dividend per share estimates by up to a lukewarm 4%, Maybank IB Research is positive nonetheless as it is more confident that earnings for NFOs will recover going forward, after several years of near continuous decline.

A potential re-rating catalyst would be more active enforcement, even against illegal gamblers.

“Classic 4D sales had been easing due to intense competition from illegal NFOs and thus, dragged industry gross NFO sales with it since 2010 and industry gross NFO sales per draw since 2008,” Maybank IB said.

“Thus, this development is a refreshing change for the NFO industry,” it said.
On July 20, 2018, the Royal Malaysian Police set up special operations rooms with hotlines in every state.

Concerned citizens have since been reporting illegal gambling and NFO outlets for the police to investigate and raid.

Google Trends also imply that most illegal gamblers are not migrating their bets online.

The Lotteries Act 1952, Common Gaming Houses Act 1953, Betting Act 1953 and Pool Betting Act 1967, which govern gaming in Malaysia, prescribe fines and jail terms for illegal gambling and NFOs.

However, none of these acts are for illegal gamblers themselves and legal NFOs are lobbying regulators to amend the aforementioned acts to not only prescribe higher fines and jail terms for illegal gambling and NFOs, but also fines and jail terms for illegal gamblers.

Additionally, there could be even more upside with the introduction of online betting.

“We understand that at least three technology companies are presenting their case to legal NFOs and regulators to legalise online betting.

“If legal NFOs were allowed to offer online betting, this would improve their sales reach which has been declining as the number of NFO outlets in Malaysia has been frozen since October 1991,” said Maybank IB Research.
Read more at https://www.thestar.com.my/business/busines...RvyWKKJJM2tg.99

Kesian damacai ,bjtoto and magnum

Kedah no more 4d shop since 2022

This post has been edited by plouffle0789: Dec 4 2021, 11:02 PM

Kedah sales don't really contribute big to overall of NFO players...

Yes, there's some impact certainly...
But it's minimal... Can be offset by higher sales in Neighbor Penang 😬

iirc, its not once and for all the door will shut but gradually, local municipal wont renew the license when it comes to end

states can do whatever thwy want as it fall under their jurisdiction but yg sakitnya central government in term of possible lose taxation income, whenn revenue is falling, you know what to expect next

This post has been edited by seanlam: Dec 16 2021, 11:07 AM

even malaysian work in foreign country also kena tax



....

Haiz

sure there is turn around ways, do check on tax resident status, sure it will helps to some extend

Means there is a bug?