Malaysian group RGB International will acquire a 20 percent stake in an East Timor electronic gaming machines company with a presence in the Philippines for some $2.2 million.

Malaysian gaming equipment supplier RGB International saw a drop in revenue and a significant loss for the fourth quarter of 2023, according to the group’s most recent financials.

Malaysian-based supplier RGB International had a 142 percent revenue increase for the third quarter of the year, totaling RM170.36 million.

Malaysian-based supplier RGB International has announced that its managing director, Dato’ Seri Chuah Kim Seah, is ‘currently on bail’ and is ‘giving his full cooperation’ with an investigation into the company following an article release alleging impropriety.

Malaysian-based supplier RGB International has refuted that its subsidiary had any involvement in political funding for the nation’s general election.

RGB International has reported profit growth of 515 percent yearly, to RM42 million ($9 million), for the quarter ended June 30th, 2023.

According to the managing director of RGB International Bhd, the company plans to sell some 4,000 gaming machines worth RM500 million ($107 million) in the overseas market. 

Former JP Morgan Malaysia equity research head Ng Keng Luen has been appointed chief strategy officer of RGB International Bhd.

Malaysian-based supplier RGB International has reported profit growth of 418 percent yearly, to RM10.5 million ($2.3 million), for the quarter ended March 31st, 2023.

International Entertainment, a gaming and hotel operator in the Philippines, has announced that it is purchasing a further 382 slot machines from RGB for some $5.73 million, to be placed in its New Coast Hotel Manila property.