Genting, Genting Malaysia incur losses in Q3

KUALA LUMPUR: Genting Bhd and its 49.5% owned Genting Malaysia Bhd both swung into the red in the third quarter ended Sept 30, 2018, with net losses of RM275.79mil and RM1.49bil, respectively, mainly due to impairment losses.

They reported impairment losses of RM1.83bil on Genting Malaysia’s investment in the promissory notes issued by the Mashpee Wampanoag Tribe in the US, the companies said in separate statements to Bursa Malaysia.