Thesun 2009-03-17 Page17 Btotos Q3 Revenue Up 22

theSun

17

| TUESDAY MARCH 17 2009

business

BToto’s Q3 revenue up 22.8% KUALA LUMPUR: Berjaya Sports Toto Berhad’s (“BToto”) group revenue for the third quarter ended Jan 31, 2009 increased 22.8% to RM1.06 billion from RM861.48 million a year ago. In a statement yesterday, the group said the commendable growth in revenue was mainly due to its principal subsidiary, Sports Toto Malaysia Sdn Bhd (“Sports Toto”) recording strong sales particularly during the Chinese Lunar New Year festival in January this year as well as four additional draws in the current quarter under review. Sports Toto registered a revenue growth of 23.4% to RM1.028 billion compared to RM832.8 million in the previous year corresponding quarter. Group pre-tax profit decreased by 4.5% to RM141.4 million from RM148.1 million in the previous year corresponding quarter. The decrease in pre-tax profit as

compared to the increase in revenue was mainly due to a higher prize payout experienced by Sports Toto in the current quarter. Sports Toto’s pre-tax profit decreased by 7.7% from last year. For the nine-month period ended Jan 31, 2009, BToto recorded an increase in revenue and pre-tax profit of 17.2% and 6.3% respectively compared to the previous year corresponding period. Sports Toto recorded a growth in revenue of 17.5% to RM2.74 billion from RM2.33 billion in the previous year corresponding period. The increase in revenue was mainly attributed to one additional draw in the current period. The lower increase in pre-tax profit of 5.9% as compared to the increase in revenue was mainly due to a higher prize payout. BToto has declared a third interim dividend of 5 sen comprising a 2.85 sen

single-tier exempt dividend and a 2.15 sen dividend per share less 25% income tax for the financial year ending April 30, 2009, payable on 15 May 2009. The entitlement date has been fixed on April 28, 2009. The statement said the board remains committed to distributing at least 75% of its annual net earnings to shareholders in accordance with the company’s dividend policy established since financial year ended 2005. It said despite the prevailing global economic conditions and the adverse impact on the Malaysian economy, the board is of the view that the Numbers Forecast Operators (NFO) business in Malaysia will remain resilient. “Barring unforeseen circumstances, the board is optimistic that the group’s performance for the remaining quarter of the financial year ending April 30, 2009 will be good,” it added.

Sime campaign generates RM86m sales KUALA LUMPUR: Sime Darby Property’s latest “Parade of Homes” campaign saw property sales of RM86 million within the first four days, showing the property market to be resilient amid the economic slowdown. The campaign was held in conjunction with MAPEX 2009 from March 6 to June 15, 2009, covering both residential and commercial properties in Sime Darby’s 10 townships. “The main factors contributing to strong sales are the Parade of Homes’ exclusive benefits which include an interest rate of base lending rate minus 2.3%, special downpayment scheme and no interest charge during

the construction period,” said Sime Darby Propertu’s managing director Datuk Tunku Putra Badlishah. Its first Parade of Homes campaign in June last year attracted over 15,000 visitors and generated sales worth more than RM246 million in nine days, the company said in a statement yesterday. The second campaign in November last year generated over RM146 million in sales even as Malaysians began to face the pandemic effects of a faltering global economy, it said. “The success of the previous campaigns has contributed to the commendable first half

of 2008 financial results of Sime Darby Property,” the company said. Revenue increased by 7% to RM566 million compared to the first half of the previous year. Sime Darby’s freehold properties range from affordable homes to high end residences with townships in Subang Jaya, Bukit Jelutong, USJ Heights, Bandar Bukit Raja, Ara Damansara, Denai Alam, Melawati, Nilai Impian, Planters’ Haven and Putra Heights In conjunction with the latest campaign, the company is organising a property showcase from April 3 to 12 at the Sime Darby Convention Centre. – Bernama

New measures to facilitate access to capital market KUALA LUMPUR: The Securities Commission (SC) announced yesterday the initiatives to revise the terms and conditions of bonds and sukuk will take effect from yesterday. The new measures also included the exemption from the mandatory credit rating requirement for convertible and exchangeable bonds and sukuk to facilitate greater access to the capital market, it said. “The exemptions on the other initiatives will come into force following the gazette of a ministerial order, which will be communicated at a later date,” the SC said in a statement. The new measures come into force following the announcement of the second stimulus package or mini budget by Deputy Prime Minister and Finance Minister Datuk Seri Najib Abdul Razak on March 10, 2009. – Bernama

Besraya’s AA3 rating not affected by toll abolition: RAM KUALA LUMPUR: The recent abolition of collection at the Salak Jaya toll plaza has no impact on the AA3 rating of Besraya (M) Sdn Bhd’s RM100 million commercial papers or medium-term notes(CP/MTN) facility, said RAM Rating. In a statement yesterday, it said the exclusion of the Salak Jaya revenue contribution is not expected to dent Besraya’s debt-protection measures, as the company’s debt service coverage ratio is still projected at a minimum of two times. – Bernama

CIMB, Sun Life Financial form life insurance company KUALA LUMPUR: CIMB Group and Sun Life Financial announced yesterday an agreement to form a joint venture life insurance company. The venture, CIMB Sun Life, is expected to be formally launched later this year and will deliver life insurance products and services, the companies said a joint statement. The joint venture is expected to capture a share of the Indonesian insurance market, which recorded total premiums of US$4.7 billion and growth of 67% in 2007. “We are extremely positive about our business in Indonesia and this proposed joint venture demonstrates our continued commitment to invest in that country. “Having successfully merged Bank Niaga and Bank Lippo to form CIMB Niaga, we look forward to delivering more value to CIMB Niaga customers through bancassurance offerings that will result from this partnership,” said CIMB group chief executive Datuk Nazir Razak. – Bernama