PETALING JAYA: Genting Malaysia Bhd
’s (GenM) proposed sale of its Miami landbank is expected to generate net proceeds of RM4.47bil and theoretically increase its 2023 core profit before tax by 20% via lower interest payments, says UOB Kay Hian (UOBKH) Research.
The Miami Herald land consists of four parcels of land measuring 673,691 sq ft and will be sold for US$1.22bil (RM5.43bil) cash to Smart Miami City LLC.
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