20/05/2026

BIZ & FINANCE WEDNESDAY | MAY 20, 2026

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Sports Toto reports Q3 pre-tax profit of RM87.3m

RM17.9 million in the corresponding quarter last year. This was mainly attributed to the reduction in revenue during the current quarter under review, coupled with higher statutory employ ment costs arising from the newly implemented labour regulations in the United Kingdom (UK). For the cumulative nine-month period ended March 31, 2026, the group’s revenue fell by 7.1% to RM4.49 billion from RM4.83 billion in the previous year’s corresponding period, while pre-tax profit dropped 30.7% to RM206.8 million from RM298.5 million in the previous year’s corresponding period, due to softer performances of STM Lottery and HR Owen. STM Lottery posted a drop in revenue of 5.5% for the current period compared with the previous year’s corresponding period. The lower sales were largely attributed to higher sales in the previous year’s corresponding period driven by higher accumulated jackpot, particularly from the Supreme Toto 6/58 game. Pre-tax profit dropped by 15.7% following the decrease in revenue coupled with higher prize payout in the current period under review. HR Owen recorded a 6.5% drop in revenue during the current period, mainly resulting from lower sales volume in the new car segment primarily attributed to the extended vehicle product life cycles, which has unusually stifled the model mix. Customers have also reined in their luxury spending amidst the protracted economic volatility. When translated into ringgit, the revenue recorded a drop of 9% due to unfavourable foreign exchange effect. HR Owen reported a pre-tax loss of RM24.7 million for the period under review, compared to a pre-tax loss of RM1.4 million in the previous year’s corresponding period, mainly due to lower sales with margin pressure and higher operating expenses, particularly attributed to increased statutory employment costs associated with the newly implemented UK stewardship. Combined with LGT Capital Partners’ long term investment philosophy, its established track record in private credit and a globally diversified portfolio across multiple strategies, this partnership offers Malaysian HNW investors an entry point into one of the fastest growing asset classes in alternative investments and a space that has historically been accessible by institutional investors only. MAM CEO Hisham Hamzah said, “For us, this is more than a new fund launch. At MAM, we have been deliberate in how we expand our private markets capabilities, and every step has been taken with a clear view of where we want to be over the next decade. Partnering with LGT Capital Partners to bring an established quality private credit strategy to Malaysian HNW investors is precisely the kind of move that defines that journey. We are orientation that defines institutional

PETALING JAYA: Maybank Asset Management Sdn Bhd (MAM) yesterday launched the MAMG Global Private Credit Fund (the fund), a feeder fund that seeks to provide long-term capital appreciation and income by investing into the LGT Global Private Credit SA, SICAV RAIF (target fund). Through this structure, MAM extends its private markets offering to high-net-worth (HNW) investors in Malaysia via a partnership with LGT Capital Partners, a global specialist in alternative investing based in Switzerland. The fund marks a significant milestone whereby MAM becomes the exclusive third party entity to offer this strategy to individual investors in Malaysia. The LGT Endowment, the firm’s principal investment portfolio launched in 1998, represents a significant anchor commitment within the target fund, ensuring investment decisions are made with the same long-term PETALING JAYA: Sports Toto Bhd (SPToto) reported revenue of RM1.52 billion for the third quarter ended March 31, 2026 (Q3’26), a decrease of 20.5% compared with RM1.91 billion posted in the previous year’s corresponding quarter. The group’s pre-tax profit for Q3’26 was lower by 40.8% to RM87.3 million in the current quarter under review, from RM147.5 million in the corresponding quarter last year. This was mainly attributed to the performance of STM Lottery Sdn Bhd and H.R. Owen Plc. For Q3’26, STM Lottery recorded lower revenue by 20.5% compared to the previous year’s corresponding quarter which benefitted from stronger sales driven by higher accumulated jackpot from the Supreme Toto 6/58 game. There were fewer draws conducted in the current quarter – 41 draws compared with 42 draws in the previous corresponding quarter. Pre-tax profit dropped by 24.7% in line with the lower revenue. HR Owen’s revenue for the current quarter eased 17.8% compared with the corresponding quarter last year, primarily attributed to lower sales volume in both new and used car sectors. The softer car sales performance was mainly due to longer vehicle product life cycles and transition gaps between new models launches. Cautious consumer spending amid the ongoing economic uncertainties also contributed the softness in sales. o Group declares interim dividend of 3 sen per share

Malayan Flour Mills earmarks RM100m for capex over two years PETALING JAYA: Staple foods producer Malayan Flour Mills Bhd (MFM) outlined at its 66th annual general meeting yesterday the capital expenditure (capex) plans for its flour milling business, amounting up to RM100 million over two financial years, including the current financial year ending Dec 31, 2026 (FY2026). The planned investments are aimed at strengthening production capacity, operational efficiency, and long-term growth across the group’s flour milling operations in Malaysia and Vietnam. The capex will be financed with internally generated funds and bank borrowings. Of the total capex, about RM80 million will be utilised for the construction of a new milling line at Vimaflour Ltd in Vietnam to increase production capacity and support growing regional demand, as the operations there are operating at near full capacity. The remaining RM20 million will be utilised for upgrading, automation, and other operational enhancement initiatives across the group’s flour milling operations in Malaysia and Vietnam. The flour and grain trading segment delivered a strong performance in FY2025, with adjusted profit after tax rising 21.8% to RM153.6 million from RM126.1 million in the previous year, supporting the group’s continued expansion plans for the segment. Executive deputy chairman cum managing director Teh Wee Chye said:“As one of the leading staple food producers in the country, we recognise our responsibility in ensuring the stable and uninterrupted supply of essential food products to the market. The investment aligns well with the strong growth momentum we are seeing in our flour business, particularly in Vietnam. The expansion will strengthen our production capacity and support growing regional demand moving forward. “We believe continued investments across our integrated value chain are important to enhance long-term operational resilience and reinforce the group’s position as a reliable food security player in the region.” MFM has a dividend policy of paying out not less than 30% of the group’s net profit attributable to shareholders (Patmi), and has paid 3.5 sen per share, or RM43.4 million, to shareholders in respect of FY2025. The payout was equivalent to 31% of Patmi of RM139.9 million, and translates into a dividend yield of approximately 6.2% based on the closing share price of RM0.565 as at May 15.

labour regulations. The board has declared a third interim dividend of 3 sen per share, amounting to about RM39.53 million, for the financial year ending June 30, 2026. The dividend is payable on July 1 and the entitlement date is set on June 30. The total dividend distribution for the financial period ended March 31, 2026 is about RM105.58 million. The directors of SPToto remain cautiously optimistic that the group’s business will remain stable and resilient. The Number Forecast Operation (NFO) business is expected to grow sustainably, driven by the popularity of its jackpot and digit games. The directors remain confident that SPToto will continue to maintain its leading market position in the legalised NFO business sector.

Despite the ongoing geopolitical conflicts and global economic uncertainties, the group’s businesses are anticipated to continue delivering stable and positive outlook for the remaining quarter of the financial year ending June 30, 2026. MAM unveils fund in tie-up with LGT Capital Partners When translated into ringgit, the group’s reporting currency, revenue reduction was 21.6% due to unfavourable foreign exchange effect. It reported a lower pre-tax profit of RM0.3 million for the current quarter, compared to

building something that lasts.” Daniel Rauti, partner and member of the executive committee at LGT Capital Partners, said at LGT Capital Partners, private credit is not approached as a single allocation, but through the construction of a diversified portfolio across strategies and geographies, based on their endowment-style investment approach. In the current environment, he added they see private credit as an important complement to traditional fixed income, potentially offering an additional source of income and diversification. The fund is intended for sophisticated investors with a long-term investment horizon who are prepared for the risks associated with private credit, including illiquidity risk and credit risk. Denominated in Malaysian Ringgit (MYR) as the base currency, the fund is offered across multiple share classes.

Kerjaya Prospek bags RM174m contract for Seremban project KUALA LUMPUR: Kerjaya Prospek Group Bhd's wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd has been awarded a con tract worth RM174.2 million from RB Land Sdn Bhd. of a 44-storey serviced apartment and external works in Seremban, Negeri Sembilan. The construction comprises one block of 778 serviced apartment units, 15 retail units, two private offices, six levels of parking, a facilities area, one main switch station, one guardhouse, one waste storage area, one unipole structure In a Bursa Malaysia filing, the company said the contract entails the construction and completion

and other facilities. “The contract shall commence on June 1, 2026, to be completed within 35 months from the commencement date. The contract is expected to provide an additional stream of revenue for the group over the next three years,” it said. – Bernama