The company will be included on September 2.
The Philippines.- DigiPlus Interactive Corp has announced that it will be included in the MSCI Small Cap Index on September 2. The Index consists of 19 companies representing approximately 14 per cent of the free float-adjusted market capitalisation of the Philippine equity market. DigiPlus was recently included in the FTSE Global Equity Index Series for Asia Pacific Ex-Japan, China in the Micro Cap category.
DigiPlus said: “Being added to the index not only highlights DigiPlus’ commitment to excellence but also elevates its profile among global investors.”
DigiPlus has recently shared its financial results for the second quarter of the year. Net income was PHP3.2bn (US$55.9m), up 389 per cent when compared to last year. The company attributed the growth to the performance of its digital retail segment combined with the rationalisation of revenue sharing with the Philippine Amusement and Gaming Corporation (PAGCOR) for electronic games implemented in April.
Revenue was up 295 per cent in year-on-year terms to PHP18.9bn (US$330.3m). This was driven by higher user traffic and the introduction of new game offerings. EBITDA was up 351per cent at PHP3.4bn (US$59.4m).
Members of the Bhumjaithai coalition and the opposition Democrat parties say the negative impacts would outweigh any benefits.
Thailand.- The final draft of a bill to legalise entertainment complexes with casinos has received negative feedback from members of the Bhumjaithai coalition and opposition Democrat parties. The bill is open to public feedback until August 18.
According to The Bangkok Post, Bhumjaithai secretary-general Chaichanok Chidchob listed four main disagreements with the bill. He said it may not effectively address illegal gambling and could potentially lead to more gambling issues in both the legal and underground sectors. He added that the anticipated financial benefits would not outweigh the costs, that using casinos to boost tourism is unnecessary considering the country’s existing attractions and that the bill does not specify how Thai workers would secure jobs.
As for the Democrat Party, deputy secretary-general Chaichana Detdecho said he doubts Thai casinos would achieve the same success as those in Macau, Vietnam, or Singapore and suggested that if the government wants to increase revenue, it should consider legalising and taxing existing underground lotteries instead.
Suchatvee Suwansawat, deputy leader of the Democrat party, said in a Facebook post that gambling could negatively affect family values and questioned whether Thai casinos would attract foreign tourists when neighbouring countries already have similar facilities. He raised concerns that Thai citizens would become the main customers.
The governing Pheu Thai party is optimistic that it can persuade the Bhumjaithai coalition to drop its opposition. Before being removed for ethics breach, prime minister Srettha Thavisin had said more talks were needed.
