Sunday, October 22, 2017

Berjaya Sports Toto AGM 2017 at Bukit Jalil Golf & Country Resort, Kuala Lumpur

Berjaya Sports Toto AGM 2017 was held in Bukit Jalil Golf and Country Resort. Indeed all the Berjaya group of companies AGM were held here. This is among the longest AGM that I attended. Many questions were asked and the share holders provided many good suggestions. This AGM is a bit gloomy as the company does not perform well over the last few quarters. Gambling is considered as sunset industry and the only catalyst now is online betting. The management blame it on the illegal number forecast operator (NFO) and the current regulation does not have high punishment to these illegal NFO. Indeed the CEO seems a bit lose of hope to tackle the issue. Furthermore, gaming is rather a sensitive issue in Malaysia. However, the share holders give some ideas:
1. Introduce and strengthen their jackpot and lotto game since the illegal NFO does not have these kind of games and they are not able to provide huge payout.
2. Online 4D and Jackpot gambling. The company is still working of getting the approval from Ministry of Finance.
3. Dispose of non related business in Berjaya Toto balance sheet. Over the years, the company has become mixed up by acquiring too many unrelated business assets.

I don't really encourage gambling but this company business is a cash cow business and provide quite a decent dividend. Good for longer term investor if the company begins to turn around.

Berjaya Sports Toto AGM 2017. Good session with plenty of questions and answers. The style of poll conducted via this AGM is old fashioned. Still using manual paper for voting. The presentation slides also looks dated. Perhaps they need to do some new look rebranding. Its also tough for this company to do marketing as they are not allowed to advertise publicly.

Queue to collect breakfast.

As expected, Kenny Rogers set. Roasted chicken with muffins and sausages.

Drinking water.

View of Bukit Jalil Golf & Country Resort.

Berjaya Sports Toto does not provide any door gift as they already sent Berjaya group discount vouchers to all their share holders earlier. You can have free Starbucks coffee, Kenny Rogers, Borders book store discount voucher, Wendys and discounted hotel stay.

This is not a recommendation of buy or sell Berjaya Sports Toto stock. If you do buy the company share after you read this, you are doing it at your own risk.


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