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KUALA LUMPUR: Number forecast operators (NFOs) will resume operations tomorrow after shutting their doors for more than three months since the Movement Control Order (MCO) was implemented on March 18.

Magnum Bhd and Pan Malaysia Pools Sdn Bhd (Damacai), two of the three NFOs in Malaysia, have each put up an official notice on their websites about the reopening of all its outlets nationwide "starting June 17".

It is understood that Sports Toto Malaysia Sdn Bhd, owned by Berjaya Sports Toto Bhd (BToto), is also resuming its operations tomorrow, although there was no official statement on the matter at press time.

The reopening of the lottery business follows the implementation of the Recovery Movement Control Order (RMCO) last Wednesday to allow nearly all business sectors to operate with the required standard operating procedures in place. The RMCO is scheduled to last until Aug 31.

NFOs are expected to be hit badly in the MCO period during which there was no draw at all.

For its first quarter ended March 31, 2020, Magnum recorded a 7.35% drop in net profit to RM55.59 million compared with RM60 million a year earlier. Quarterly revenue fell 19.4% to RM609.54 million from RM756.24 million last year, as six draws were cancelled during the MCO period up to March 31.

BToto, meanwhile, posted a net profit of RM48.61 million for its third quarter ended March 31, 2020 (3QFY20) on revenue of RM1.33 billion. There were no comparison numbers for the previous year's corresponding period, due to a change in its financial year end from April 30 to June 30.

For its cumulative nine months ended March 31, 2020, BToto's net profit stood at RM177.5 million, while revenue for the period was at RM4.18 billion. The group said its operations were impacted by the MCO, which saw six draws in 3QFY20 being cancelled.

Analysts expect the full impact of shutdown to be reflected by the earnings in its current financial quarter ending June 30.

Both Magnum and BToto saw their shares settle higher today at RM2.30 and RM2.28 apiece, respectively.

Magnum gained 6.48% or 14 sen to RM2.30 with 3.04 million shares done, giving a market capitalisation of RM3.31 billion.

BToto went up 6.05% or 13 sen to RM2.28 with 1.74 million units exchanging hands, giving a market capitalisation of RM3.08 billion.

http://www.theedgemarkets.com/article/4d-outlets-resume-operations-tomorrow
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