PETALING JAYA: Number forecast operators (NFOs) could face some downside risk in the event of a change in Selangor, Penang and Negri Sembilan state governments.
These three states, together with Kedah, Kelantan and Terengganu, are widely expected to dissolve their state assemblies in around a month’s time to pave the way for state elections in the third quarter of this year.
According to Maybank Investment Bank (Maybank IB) Research, about 50% of NFO earnings, mainly that of Berjaya Sports Toto Bhd (BToto) and Magnum Bhd
, are at risk should state governments of Selangor, Penang and Negri Sembilan change, leading to the rise of Islamic party playing a more prominent role in state matters.
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