BToto’s deal not likely to endear

BERJAYA Sports Toto Bhd’s unusual move to put its largely Malaysian gaming business into a trust, which will then list its units in Singapore, is a peculiarly interesting one. But it is unlikely that the move will get any more value for its own shareholders.

That’s because the entire exercise, at the end of the day, is one that merely reshuffles assets (and sells some) and seems to rest on the hope that a listing in Singapore of the key Malaysian gaming operations will give it a higher valuation.