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[size=28]BCorp active after launching Vietnam lottery opsBy Christina Ramani / theedgemarkets.com | July 19, 2016 : 1:14 PM MYT
KUALA LUMPUR (July 19): Shares in Berjaya Corporation Bhd (BCorp) was among the top actively-traded stocks in the morning session today, after launching its Vietnam lottery operations yesterday.
At midday break, BCorp was unchanged at 36 sen, with 25.66 million shares done.
BCorp have partnered with Vietnam Computerized Lottery One Member Company Ltd (Vietlott) to establish lottery operations in Vietnam, and have so far launched their first game, Mega 6/45 Lotto Jackpot Game.
Within the first month of operations, 800 point of sale terminals for Mega 6/45 tickets will be available throughout Ho Chi Minh City, with some 10,000 point of sale terminals planned nationwide within the next 5 years.
The project has a capex of approximately US$210.58 million over 18 years, and will be carried out by Berjaya Gia Thinh Investment Technology Joint Stock Company (Berjaya GTI), a Vietnamese company which is 51%-owned by Berjaya Lottery Vietnam Ltd (BLV), a company incorporated in Labuan. BLV is 80%-owned by BCorp and 20% owned by Berjaya Sports Toto Bhd (BToto).
According to Datuk Seri Robin Tan, BCorp’s chairman and chief executive officer, Vietlott’s mission is in line with the Vietnamese Ministry of Finance’s efforts to modernize the Vietnamese lottery industry, resulting in the first ever nationwide self-selected computerized lottery project in Vietnam.
Besides that, it is a 100% state-owned enterprise under the Vietnamese Ministry of Finance and is the only enterprise permitted under Vietnamese law to conduct computerized lottery business in the entire territory of Vietnam.
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