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Business

Genting M’sia gets nod for UK casino purchase

KUALA LUMPUR: Shareholders of Genting Malaysia Bhd voted yesterday in favour of resolutions to acquire the British casino operations collectively known as Genting UK from Genting Singapore plc despite initial misgivings over the related party transaction nature of the deal.

Business

Setback for Genting

PETALING JAYA: Shares of Genting Malaysia Bhd and parent Genting Bhd fell after Florida’s House of Representatives committee postponed a vote on a bill to expand casino gaming in the state, putting a dent on the gaming empire’s plans to expand into the sunshine state.

Business

Genting chairman takes voluntary pay cut

PETALING JAYA: As the group copes with a hike in gaming taxes, Genting Malaysia Bhd chairman and chief executive Tan Sri Lim Kok Thay has taken a 20% voluntary pay cut.

Business

Trading ideas: Frontken, I-Bhd, Iris, Genting Malaysia

KUALA LUMPUR: Frontken Corp Bhd, I-Bhd, Iris Corp Bhd and Genting Malaysia Bhd are among the stocks to watch on Thursday, according to JF Apex Research.

Business

Genting Malaysia sees 50% rise in visitors to Genting Highlands

PETALING JAYA: Genting Malaysia Bhd hopes to see a near 50% rise in visitors to its hill top resort in Genting Highlands by 2020, driven by the increase in gaming capacity and the presence of the Century Fox World theme park.

Corporate News

Resorts World Genting redevelopment to cost RM10.4bil

KUALA LUMPUR: Genting Malaysia Bhd will double the capital investment under the Genting Integrated Tourism Plan (GITP), which involves redeveloping and transforming Resorts World Genting, from the earlier-announced RM5bil to an estimated RM10.38bil.

Business

Genting eyes New York gaming resort with 125-acre forest garden

GENTING Malaysia Bhd, confident of snaring one of four casino licences to be awarded by the New York Gaming Board, has unveiled plans for a casino in the state.

Business

Genting Malaysia unit sells Segambut land for RM66mil

KUALA LUMPUR: Genting Malaysia Bhd (GenM) has sold two pieces of adjoining leasehold land in Segambut measuring 380,902 sq ft, as well as the buildings on the land, to Genting Plantations Bhd (GenP) for RM65.76mil.

Business

Analysts cut Genting and unit forecasts on weaker UK ops

PETALING JAYA: Genting Bhd and its unit Genting Malaysia Bhd reported recent results in line with market expectations but some analysts are cutting their forecasts for the companies#8217;s future earnings to factor in weaker casino operations in Britain and capital expenditure (capex) for some of its projects.

Business

Genting to buy Pan Malaysian Pools for RM2.5bil?

PETALING JAYA: The market is again abuzz with speculation that Genting Bhd, whose businesses include gaming and leisure under Genting Malaysia Bhd in which the company has a 49.39% stake, is finalising the deal to acquire Tanjong plc's gaming unit Pan Malaysian Pools Sdn Bhd (PMP) for an estimated RM2.5bil.