Olympia Industries firms up sales, marketing deal with Taiwan Lottery

OLYMPIA INDUSTRIES BHD [] has firmed up its collaboration with Taiwan Lottery Co. Ltd to cooperate in the sales of 3-Digit and 4-Digit games in Taiwan.

Olympia said on Tuesday, Jan 11 its unit  Lotteries Corporation Sdn Bhd had signed a sales and marketing service agreement with Taiwan Lottery to work together to sell the games for a three-year period, starting Jan 11, 2011 to Dec 31, 2013.

It said this was subject to a further five-year extension of the Taiwan Lottery’s lottery operational rights to be approved by the Taiwan authorities.

Lotteries Corporation is involved in the organising and management of sales of numbers forecast, pools and public lotteries including 4 digits number games in the state of Sabah.

Under the agreement, Lotteries Corporation will provide services relating to product design, business consulting, operations, sales, marketing and promotional activities to increase the overall sales of the digit games operated by Taiwan Lottery in Taiwan.

"As consideration, Lotteries Corporation will be entitled to a service fee of 50% of the statutory rate of 4.14% of the total digit games sales generated by Taiwan Lottery for the duration of the agreement," it said.

Taiwan Lottery is a subsidiary of Chinatrust Financial Holding Co., Ltd appointed to operate the Public Welfare Lottery by Chinatrust Commercial Bank, one of the largest private banks in Taiwan.- by Joseph Chin of theedgemalaysia.com