The top prize per RM1 wagered is RM3,200. Prizes up to RM600 can be claimed at any agency up to two weeks after a draw. Prizes up to RM60,000 can be claimed at agency of purchase up to two weeks after a draw. Prizes up to RM1 million can be claimed at any Magnum-ENE office. Prizes in excess of RM1 million must be claimed at the Magnum-ENE office of the state in which the ticket was purchased.
Prizes are tax exempt.
We expect both companies to lobby for a similar reduction in duties. Some analysts point out that if all three companies were to be granted a similar reduction in duties, it could cost the government between RM400mil and RM500mil in annual revenue loss. There are analysts, who prefer Resorts World Bhd, which they say is trading at a lower valuation despite its recent out-performance. Magnum Corp. Malaysia's largest lottery operator will be hoping it receives the same treatment as gaming firm Tanjong after the government reduced the tax on Tanjong's lottery products on Thursday. Tanjong is controlled by billionaire Ananda Krishnan, who has had good relations with Prime Minister Mahathir Mohamad, who is also Acting Finance Minister.