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Company Update – Berjaya Sport TOTO (ADD, downgrade) - Clearing all regulatory hurdle, kick off bookbuilding




Affin Hwang Investment Bank Bhd


28 Oct 2012





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Clearing all regulatory hurdles, kick off bookbuilding A two-month delay as Singapore regulators assessed regulatory risks Sports Toto Malaysia (STM) Trust is slated for a listing on the Singapore Stock Exchange in January 2013. There appears to be a two months delay in the listing of STM Trust (which was initially earmarked for a November 2012 listing) as the Singapore regulators assessed the regulatory risk prevalent to Malaysia’s number forecast operators (NFOs). That said, SGX gave a pre-clearance ‘goahead’ last month and the Group will now proceed with the actual submission for a listing of STM Trust on SGX. A circular will also be submitted to Bursa Malaysia and an EGM to be called by end-November 2012. STM Trust’s prospectus could be launched on SGX by early November 2012 and thereafter, appointed bankers can begin the bookbuilding process.

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