GenM rises as theme park to open as scheduled

KUALA LUMPUR: Genting Malaysia Bhd is seeing some positive price action on reports that its theme park in Genting Highlands will be completed by early next year.

At 9.15am, the counter was up five sen to RM2.88 a share on 7.5 million units traded.

Singapore's The Business Times reported Genting Malaysia chairman and CEO Tan Sri Lim Kok Thay as saying that plans are in place for an early 2019 opening.

The theme park in question is the subject of Genting's legal suit against Disney and Twenty-First Century Fox.

While the facility was originally slated to be the world's first Fox-themed park, the US entertainment company cancelled its plans earlier in November.

Genting alleged that Disney, which is acquiring Fox for US$71.3bil, had pulled the plug on the project as it had a family-friendly image and did not want to be associated with Genting's casino gaming business.