BERJAYA Philippines, Inc. has extended its lease deal for lottery equipment with the Philippine Charity Sweepstakes Office (PCSO) by another year.
In a disclosure to the stock exchange on Friday, the listed company said its wholly-owned subsidiary Philippine Gaming Management Corp. (PGMC) has signed a supplemental equipment lease agreement with PCSO. This extends the equipment lease agreement for one year, effective from Aug. 23, 2018 to Aug. 22, 2019.
PGMC’s core business is the leasing of online lottery equipment as well as the provision of software support.
The investment holding firm said it has also entered into a cash bond agreement with PCSO for the transaction.
Berjaya Philippines recorded a 16% increase in revenues for the quarter ending July to P9.64 billion, versus the P8.32 billion it posted in the same period a year ago. Its net income attributable to owners of the parent accordingly grew by 15% to P346.2 million in the same period.
The company attributed the increase to higher revenue contributions from its luxury automobile segment, H.R. Owen PLC, alongside fluctuations from the British pound to Philippine peso during the period.
Added to Berjaya Philippines’ portfolio back in 2014, H.R. Owen operates several vehicle franchises in the prestige and specialist car market mostly in the London Area. H.R. Owen is considered as the world’s largest retailer of Rolls-Royce, Bentley, Lamborghini, and Bugatti brands.
In the auto industry, the company is also invested in Ssangyong Berjaya Motor Philippines, Inc., which sells and distributes all types of motor vehicles.
Berjaya Philippines likewise has a 28.28% interest in Bermaz Auto Philippines, Inc., formerly called Berjaya Auto Philippines, Inc. Under this firm, it has entered into a distributorship agreement with Japan’s Mazda Motor Corp. for the distribution of Mazda vehicles in the country.
Aside from investments in automobiles and lottery equipment leasing, Berjaya Philippines further has a stake in Berjaya Pizza Philippines, Inc., the exclusive franchisee of the Papa John’s pizza brand in the country.
The company also owns Perdana Hotel Philippines, Inc., which operates Berjaya Makati Hotel in Makati.
Outside the country, Berjaya Philippines has been ramping up its investments in the Malaysian operator of 7-Eleven convenience stores. Earlier this month, it acquired 6.5 million shares in 7-Eleven Malaysia Holdings Berhad for around P124 million. This brought its total interest in the Malaysian firm to 1.59%, which it noted is for investment purposes.
Shares in Berjaya Philippines went up by 0.52% or a centavo to close at P1.92 each last Friday. — Arra B. Francia