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Magnum Considers South East Asian Lottery Business

14 June 2002

MALAYSIA – As reported by (Malaysia) eMedia: "Magnum Corp Bhd may be collaborating with its Hong Kong-based subsidiary Magnum International Holdings Ltd (MIHL) to invest in lottery businesses in South-East Asia.

"…A Hong Kong newspaper reported yesterday that MIHL, which is 51 per cent owned by Magnum, is considering joining forces with its parent to invest in lottery ventures in the region.

"Quoting MIHL's chairman Lim Teong Leong, who is also the executive director of Magnum, the report said the company will also be looking into long-term investment in some new businesses, without providing further details.

"…Analysts say that venturing into the regional lottery business should be a good move for Magnum as it will allow the group to expand its earnings base.

"…Potential countries for expansion may include less-developed countries such as Myanmar and Vietnam as well as Thailand and Philippines, which are viewed as more liberal towards the betting business compared to the more `conservative' Indonesia and Brunei, the analyst said.

"…Another analyst said that it may take some time for Magnum to penetrate the lottery markets abroad as there will be a lot of red tape involved in the acquisitions.

"…Currently, Magnum is one of the three licensed lottery operators in Malaysia besides Berjaya Toto Bhd and Tanjong Plc…"

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