KUALA LUMPUR (June 25): Sports Toto Bhd (KL:SPTOTO) said the group is acquiring three freehold commercial units at Berjaya Times Square for a cash consideration of RM24.90 million, or RM15,211 per sq feet, in a related-party transaction.

Sports Toto's wholly-owned unit, STM Lottery Sdn Bhd, is purchasing the units from Sapphire Transform Sdn Bhd, a fully-owned subsidiary of Berjaya Assets Bhd (KL:BJASSET), according to a bourse filing on Wednesday.

The units, with a total floor area of 1,637 sq feet, are located on the ground floor and currently tenanted. They were originally acquired by Sapphire in April 2012, and as at end-May 2025, the property's carrying value stood at RM29.47 million. 

Sports Toto said the acquisition — which is expected to be completed in the second half of this year — will allow STM Lottery to invest in an income-generating asset with potential for future capital appreciation.

However, the group noted risks associated with property investments, such as liquidity constraints, credit risks, and rising lending rates amid broader macroeconomic uncertainties. “The management of STM Lottery will take appropriate measures to mitigate these risks as and when necessary,” it said.

Berjaya Corp Bhd (KL:BJCORP) is a major shareholder in both Sports Toto and Berjaya Assets.

Datuk Seri Robin Tan Yeong Ching, executive chairman and shareholder of Sports Toto, is also a director of STM Lottery. Meanwhile, CEO Nerine Tan Sheik Ping, who is also a shareholder of Sports Toto, serves as a director of STM Lottery as well.

Shares of Sports Toto closed unchanged at RM1.37 on Wednesday, giving the group a market capitalisation of RM1.85 billion. Berjaya Assets was last traded at 31.5 sen, valuing it at RM805.86 million.