Tanjong PLC: Revision in Betting and Sweep | Company Announcements

Thursday 01 July, 2010

Tanjong PLC

Revision in Betting and Sweep

RNS Number : 6253O

Tanjong PLC

01 July 2010

Tanjong Public Limited Company ("Tanjong" or "Company")

- Revision in Betting and Sweepstake Duties ("Betting Duties")

The Board of Tanjong wishes to announce that Pan Malaysian Pools Sdn. Bhd. ("PMP"), a wholly-owned subsidiary of Tanjong, had on 29 June 2010 been notified by the Ministry of Finance in Malaysia of a revision in Betting Duties to 8% from 6% previously. The new rate applies to draws held from June 2010 onwards.

Betting Duties are based on gross sales proceeds after deducting Gaming Tax of 8%. Therefore the effective rate of Betting Duties will be 7.36% from 5.52% previously.

This revision is not expected to have a material impact on the results of the Tanjong Group.

This announcement is dated 1 July 2010.

This information is provided by RNS

The company news service from the London Stock Exchange

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