Vincent Tan set to list lottery opreator in Sinagapore

Anita Gabriel, Asia News Network (The Straits Times), Singapore | Thu, 06/07/2012 6:40 AM


Malaysian billionaire Vincent Tan is spinning off his most prized asset, the nation's lottery operator Sports Toto Malaysia (STM), in a listing in Singapore.

The business trust listing, likely to take place in November, could raise RM6 billion (US$1.89 billion).

Tan, 60, owner of English football club Cardiff City, is fresh from netting a cool $91 million windfall from the recent listing of Facebook in the United States.

The low-key entrepreneur, Malaysia's 10th-richest person, indirectly controls Berjaya Sports Toto (BToto) which owns STM via his flagship Berjaya Corp.

BToto and Berjaya Corp are listed on Bursa Malaysia. Berjaya Corp owns 30 percent of Singapore-listed Informatics Education, which is 21 percent owned by Singapore billionaire Peter Lim, a close friend of Tan's.

The latest move by Tan, who built a sprawling business empire involved in gaming, property, construction, resorts and media, has puzzled some analysts.

“After taking out the crown jewel and listing it on SGX (Singapore Exchange), it leaves BToto with nothing much. If they want to enhance shareholder value, there are easier ways to do it,” said an analyst.

But BToto's executive director Freddie Pang defended the proposed move. “It allows for better capital management. We can distribute the surplus cash flow as dividend regardless of profits under a business trust structure. And there are no gearing limits,” he told The Straits Times.

Malaysia lacks a legal framework for business trusts while Singapore introduced one in 2004.

Malaysia's deep-pocketed state-owned funds can invest only in sharia-compliant stocks, which rules out the gaming firm. Hence the appeal to list on SGX.

“BToto is no longer just a pure gaming company as it also has hotels and a food chain. Since most invest in BToto because of its lottery business, we are taking it out and listing it separately and distributing the units eventually to shareholders,” said Pang.

One analyst is not impressed. “We note our reservations about the identity of BToto in the future. This would reduce BToto to a holding company,” said Malaysia-based Public Investment Bank in a research note.

The business trust market in Singapore is not quite an investor magnet.

Shares of Hutchison Port Holdings Trust, SGX's biggest IPO last year, are trading at 32 percent below their offer price.

But for the moment, investors appear to like the BToto story. The gaming counter gained 1 percent on Bursa Malaysia on Wednesday.

Tan secured the coveted Sports Toto in 1985 when it was privatized under then prime minister Mahathir Mohamad, a close friend.

The tycoon, estimated by Forbes to have a net worth of $1.2 billion, has a good rapport with Malaysia's current leadership.

In February, he surprised many by stepping down as chairman of Berjaya Corp – a firm he founded in 1984 – though he remains its controlling shareholder.

A plan to list his 24-hour convenience store operator 7-Eleven Malaysia and Internet business MOL Global is also on the cards.

A dual listing of MOL on SGX is also being considered. MOL owns 3.5 million shares in

Someone needs to list the amount of business Tan owns.

A new company name springs up in reports every week.

"English football team Cardiff City"?????

"English football team Cardiff City"?????

They see us as English as we play in an English league - natural for anyone over in the far east as most haven't even heard of Wales! Which is usually why they use it....

Peter Lim

Is this man the reason for the re-branding?

He is one of Singapore's wealthiest men, and the club say they are looking for investment in the far east. He is also good friends and a business partner of Vincent Tan. Lim has exclusive rights to own and operate a chain of Manchester United-themed restaurants and bars in Asia, and once tried to buy Liverpool. There's the red link.

When he made the bid for Liverpool. He claimed he would wipe out £200m of club debt. Take on another £60m Liverpool still owe. Put almost £40m on the table for Roy Hodgson to strengthen his squad. All using his own money.

Sound familiar?

http://www.telegraph.co.uk/sport/footba ... -club.html

http://www.mirrorfootball.co.uk/news/Li ... 99007.html

http://en.wikipedia.org/wiki/Peter_Lim

Peter Lim

Is this man the reason for the re-branding?

He is one of Singapore's wealthiest men, and the club say they are looking for investment in the far east. He is also good friends and a business partner of Vincent Tan. Lim has exclusive rights to own and operate a chain of Manchester United-themed restaurants and bars in Asia, and once tried to buy Liverpool. There's the red link.

When he made the bid for Liverpool. He claimed he would wipe out £200m of club debt. Take on another £60m Liverpool still owe. Put almost £40m on the table for Roy Hodgson to strengthen his squad. All using his own money.

Sound familiar?

http://www.telegraph.co.uk/sport/footba ... -club.html

http://www.mirrorfootball.co.uk/news/Li ... 99007.html

http://en.wikipedia.org/wiki/Peter_Lim

Tan has someone or some people lined up in the background, I'm sure of it.

Anita Gabriel, Asia News Network (The Straits Times), Singapore | Thu, 06/07/2012 6:40 AM


Malaysian billionaire Vincent Tan is spinning off his most prized asset, the nation's lottery operator Sports Toto Malaysia (STM), in a listing in Singapore.

The business trust listing, likely to take place in November, could raise RM6 billion (US$1.89 billion).

Tan, 60, owner of English football club Cardiff City, is fresh from netting a cool $91 million windfall from the recent listing of Facebook in the United States.

The low-key entrepreneur, Malaysia's 10th-richest person, indirectly controls Berjaya Sports Toto (BToto) which owns STM via his flagship Berjaya Corp.

BToto and Berjaya Corp are listed on Bursa Malaysia. Berjaya Corp owns 30 percent of Singapore-listed Informatics Education, which is 21 percent owned by Singapore billionaire Peter Lim, a close friend of Tan's.

The latest move by Tan, who built a sprawling business empire involved in gaming, property, construction, resorts and media, has puzzled some analysts.

“After taking out the crown jewel and listing it on SGX (Singapore Exchange), it leaves BToto with nothing much. If they want to enhance shareholder value, there are easier ways to do it,” said an analyst.

But BToto's executive director Freddie Pang defended the proposed move. “It allows for better capital management. We can distribute the surplus cash flow as dividend regardless of profits under a business trust structure. And there are no gearing limits,” he told The Straits Times.

Malaysia lacks a legal framework for business trusts while Singapore introduced one in 2004.

Malaysia's deep-pocketed state-owned funds can invest only in sharia-compliant stocks, which rules out the gaming firm. Hence the appeal to list on SGX.

“BToto is no longer just a pure gaming company as it also has hotels and a food chain. Since most invest in BToto because of its lottery business, we are taking it out and listing it separately and distributing the units eventually to shareholders,” said Pang.

One analyst is not impressed. “We note our reservations about the identity of BToto in the future. This would reduce BToto to a holding company,” said Malaysia-based Public Investment Bank in a research note.

The business trust market in Singapore is not quite an investor magnet.

Shares of Hutchison Port Holdings Trust, SGX's biggest IPO last year, are trading at 32 percent below their offer price.

But for the moment, investors appear to like the BToto story. The gaming counter gained 1 percent on Bursa Malaysia on Wednesday.

Tan secured the coveted Sports Toto in 1985 when it was privatized under then prime minister Mahathir Mohamad, a close friend.

The tycoon, estimated by Forbes to have a net worth of $1.2 billion, has a good rapport with Malaysia's current leadership.

In February, he surprised many by stepping down as chairman of Berjaya Corp – a firm he founded in 1984 – though he remains its controlling shareholder.

A plan to list his 24-hour convenience store operator 7-Eleven Malaysia and Internet business MOL Global is also on the cards.

A dual listing of MOL on SGX is also being considered. MOL owns 3.5 million shares in

I know VT is releasing a lot of his own personal equity because he wants to give away half of his wealth to good causes. May be he sees CCFC as a 'good cause'

Peter Lim

Is this man the reason for the re-branding?

He is one of Singapore's wealthiest men, and the club say they are looking for investment in the far east. He is also good friends and a business partner of Vincent Tan. Lim has exclusive rights to own and operate a chain of Manchester United-themed restaurants and bars in Asia, and once tried to buy Liverpool. There's the red link.

When he made the bid for Liverpool. He claimed he would wipe out £200m of club debt. Take on another £60m Liverpool still owe. Put almost £40m on the table for Roy Hodgson to strengthen his squad. All using his own money.

Sound familiar?

http://www.telegraph.co.uk/sport/footba ... -club.html




Yes - I'm sure he has too.

http://www.mirrorfootball.co.uk/news/Li ... 99007.html

http://en.wikipedia.org/wiki/Peter_Lim

Tan has someone or some people lined up in the background, I'm sure of it.