Phillip Research said any positive earnings are expected to be offset by startup and financing costs for the new downstate New York development in the first few years of operations.
PETALING JAYA: There is now “high” risk of rating downgrades for Genting Bhd
and Genting Malaysia Bhd (GenM), following Genting’s RM3.1bil acquisition of additional shares in GenM, according to CreditSights.
Genting currently owns 73.13% of GenM. Its recently concluded takeover bid garnered an additional 23.13% stake at RM2.35 per share, falling short of the 75% threshold required to trigger delisting from the stock exchange.
