Berjaya Sports Toto ' Eyeing stake in Philippine NFO?

Stock Name: BJTOTO
Company Name: BERJAYA SPORTS TOTO BHD

Research House: RHB

Price Call: BUY

Target Price: 4.85

Berjaya Sports Toto ' Eyeing stake in Philippine NFO?                                                  Market Perform

News Update

-          BToto is reportedly looking to expand its Philippines operations by potentially acquiring a stake in the Philippine Charity Sweepstakes Office (PCSO) in Luzon . Currently, BToto supplies and maintains a computerised online lottery system and provides software support to PCSO and in return, gets a cut from PCSO's ticket sales.

-          Forecasts and DCF-based fair value of RM4.85 maintained. Maintain Market Perform.

Source: RHB Research - 16 April 2012