Malaysia's RGB International Bhd has secured the rights to sell two more branded gaming machines in Asia under its sales and marketing business division.
Group managing director Datuk Chuah Kim Seah told the Star after an annual general meeting that the brand names were KL Saberi and Atlas.
“KL Saberi is a brand name belonging to a well known casino, Kangwon Land in South Korea. The Atlas is an Australian brand,” Chuah said.
He added that the group has targeted to launch 200 units of the new brands this year in Cambodia, Vietnam and the Philippines.
On its concession business, the group is currently installing 1,700 units, of which 1,300 are for the Philippines market.
“In the Philippines, some 600 gaming machines have already been installed in the casino according to the terms and conditions of the contract,” Chuah said.
The remaining units will be installed by end of this year.
“These 1,300 machines would generate a yield of at least $50 million for the group over the next five years,” Chuah said.
Target: The Philippines
The group’s business in the Philippines contributes over 60 per cent of its annual revenue.
The group’s technical support and management division operates in 34 concession venues across Asia with a total of 5,500 machines as at end of last year.
To date, RGB has concluded business deals to install an additional 1,770 gaming machines across Asia, of which 1,300 units are earmarked for the Philippines market.
Moving ahead, the group targets to expand its presence geographically into new markets in different regions as well as increasing its customer base in our existing markets.
“The group will increase its product offerings by collaborating with more partners who have synergy with us. The group remains focused on growing the revenue from engineering services,” Chuah said.
On its liquidity and capital resources, the group’s cash position stood at 62.7 million ringgit ($15 million) as of December 31, 2018.
Net cash generated from operations was 46.9 million ringgit.
During the 2018 fiscal year, 94.3 million ringgit was used for capital expenditure, 6.3 million ringgit for repayments of borrowings and 9.4 million ringgit for payment of dividends.
At its annual general meeting, RGB received approval to pay a final single tier dividend of 0.7 sen per share, which will be paid on August 15.
For the first quarter ended March 31, the group posted 6.9 million ringgit in net profit on the back of a 52.2 million ringgit revenue, compared to 6.4 million and 47.8 million ringgit achieved in the previous year’s corresponding period. THE STAR (MALAYSIA)/ASIA NEWS NETWORK