Can someone ask the Finance Minister why is the sports betting licence being given to Ascot company belonging to Vincent Tan? There is no such thing as a free lunch.
Vincent Tan sold 70% of Ascot shares to public-listed company Berjaya Group for RM375 million. Surely the Finance Minister is not so generous as to see Vincent Tan getting this huge largesse without coughing up someone else?
It doesn't take a genius to know that someone is benefitting from this deal from Vincent Tan because nobody is going to be just happy to see Vincent Tan pocketing this huge largesse all by himself.
If the issuance of this sports betting licence had been transparent and if there were no one benefitting from this deal, would it not have been a better deal for the country's coffers that the license be openly tendered to the highest bidder?
If it was tendered openly to the highest bidder, it would benefit the country's coffers to the tune of at least RM500 million since the value of the license based on the sale to the Berjaya Group was RM525 million.
From this dubious issuance of license to this Ascot company belonging to Vincent Tan, I am quite confident that it is not only Vincent Tan alone laughing his way to the bank.