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Genting Malaysia posts Q3 net loss of RM1.49b on impairments


KUALA LUMPUR: Genting Malaysia Bhd (GentM) posted net losses of RM1.49bil in the third quarter ended Sept 30, 2018 mainly due to impairment loss on the group’s investment in the promissory notes issued by the native American tribe for the development of an integrated gaming resort in the US on a piece of tribal land.

GentingM said on Friday it recorded an impairment loss of RM1.834bil in relation to the group’s total investment (including accrued interest) in the promissory notes issued by the Mashpee Wampanoag tribe.

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