Judi Malaysia

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Published: Saturday June 5, 2010 MYT 5:26:00 PM
Updated: Saturday June 5, 2010 MYT 7:37:03 PM


Vincent Tan to donate RM525mil from Ascot Sports stake sale
By NG SI HOOI

KUALA LUMPUR: Tan Sri Vincent Tan intends to donate the entire sale proceeds of the RM525mil that he expects to receive from the proposed sale to Berjaya Corporation Bhd of his 70% stake in Ascot Sports Sdn Bhd, Malaysia’s first legalised sports betting operation, to Better Malaysia Foundation.

“As a responsible member of our society, it is my belief that we return to society a part of what we have received. I have therefore strive to do my part by providing financial support and resources to people in need as well as to support various organisations with similar objectives,” he said.

He said providing scholarship and interest-free loan to students was one of the assistance would be given out by the foundation.

“The RM525mil is just a start. I hope that when I do better, I will to donate more to this foundation,” he said.

“Personally, I want this foundation to be properly monitored, and the account to be published in the newspapers.

“I want this foundation to be transparent, as transparent as possible, so that people can see what it does,” he said.

On the ban of sports betting imposed by Pakatan-ruled states - Penang, Kedah and Selangor - Tan said he would appeal to the states to reconsider the ban.

“The licence was re-issued to Ascot Sports because the Government felt that the time was right to do so in the light of the rampant growth of illegal betting operations and also because Ascot Sports had the first right of refusal to this licence if it was to be re-issued,” he said.



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