But Allan might receive his biggest pay-day in Australian dollars when the two-year-old colt, the aptly named Magic Of Money, steps out tomorrow in the A$512,000 Blue Diamond Stakes (1200 metres) at Caulfield.

Allan shares the ownership of Magic Of Money with a number of prominent, South East Asians, including T. A. Krishnan and Tunku Ahmad Yahaya.

The former champion trainer of Singapore bought Magic Of Money as a yearling at last year's Sydney Easter Sales, topping the sale with a final bid of $A375,000.

In fact, the price was a the highest paid for a yearling at auction in Australia last year.

Magic Of Money, trained by David Hayes, is by top young European stallion Last Tycoon from the outstanding broodmare Ngaiambin.

Last Tycoon has been travelling between hemispheres, standing in the Australian spring at John Messara's Arrowfields Stud, Jerry Plains, in the Hunter Valley of New South Wales.

So far, as his stock have been in England, the stallion's first Australian crop have been most impressive.

Apart from Magic Of Money, he also is the sire of outstanding filly Lady Jakeo, who is vying for favouritism for both the Blue Diamond - Melbourne's premier juvenile race - and the prestige $2 million Golden Slipper at Rosehill in April.

Magic Of Money is a late inclusion in the Blue Diamond, following a most impressive first start success in an 1100 metres, two-year-olds dash at Morphettville, Adelaide, on February 13.

The colt showed brilliant pace to beat his rivals by 51/2 lengths, and it could have been a lot further had jockey Alf Matthews desired.

Hayes, who has four Blue Diamond runners, said Magic Of Money is the least experience, but the most exciting.

''He went into the Adelaide race with only one trial but I've always thought he was an exceptional colt,'' he said.

''The few times we have let him have his head he's been frightening. He could be a special colt.'' The favourite for the Blue Diamond is Keltrice, a handy little colt by another prominent former European sire now based at Arrowfields, the French bred Kenmare, who this season has had tremendous success after a tardy start to his Australian career with last year's first crop.

The connections of Keltrice have already knocked back offers of around $A400,000 for the colt from Hongkong interests.

Keltrice, to be ridden by star apprentice Damien Oliver, heads the markets from Lady Jakeo and the New Zealand bred Clever Zoe, by Pompeii Court.