Multi Purpose Holding Bhd’s 51% subsidiary, Magnum has received approval for a new 4-Digit (4D) game which will incorporate a jackpot element. The game is slated to be launched at end-2009.
Maintain OVERWEIGHT on sector. In the NFO segment, we like Tanjong (BUY, TP: 18.60) for its undemanding valuation (8.2x implied FY10 PER) and attractive dividend yield of 7.1%, while BJTOTO remains a defensive high dividend yielding play (TP: RM5.60).
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