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CIMB has maintained its recommendation of a “hold” on Genting Malaysia Bhd as it awaits more clarity on the possible opening date of its new outdoor theme park.
IF an upcoming ruling from the United States’ Department of Interior (DoI) turns unfavourable, Genting Malaysia Bhd could end up writing off its US$274mil (RM1.19bil) earlier investment and forego net interest income of RM105mil, said Maybank IB Research.
PETALING JAYA: Genting Malaysia Bhd’s (GenM) recent disposal of 1.43 million shares or 16.9% stake in Genting Hong Kong (GHK) to Golden Hope Ltd (GHL) for US$415mil (about RM1.7bil) cash, received rather lukewarm response from research houses, although they deemed it fair to shareholders.
PETALING JAYA: Genting Bhd has recorded a net profit of RM305.68mil for its third quarter ended Sept 30, compared with a net loss of RM275.80mil in the previous corresponding period.
KUALA LUMPUR: Affin Hwang Capital research believes there is a possibility of Genting Malaysia Bhd listing its US operations within the next five to ten years, despite a few "milestones" the gaming company needs to first achieve.
PETALING JAYA: The transitory nature of the coronavirus disease (Covid-19) has resulted in extended post-Chinese New Year closures of factories and other establishments, especially in China which has disrupted the supply chain, but work is returning, albeit gradually.
KUALA LUMPUR: Genting Malaysia Bhd and Genting Bhd saw a combined RM4.89bil erased from their market capitalisation at midday on Tuesday following the fallout from its US$1bil suit against Walt Disney Co and Twenty-First Century Fox Inc over the cancellation of the first Fox-branded theme park
KUALA LUMPUR: Genting Malaysia Bhd has proposed to set up a RM5bil medium term notes (MTN) programme for capital expenditure, development of properties and resorts including those in Genting Highlands.
KUALA LUMPUR: Genting Bhd, Genting Malaysia Bhd, UMW Holdings Bhd, Padini Holdings Bhd, AirAsia Group Bhd are among the stocks to watch on Thursday, according to JF Apex Research.
PETALING JAYA: While the investing community may now be re-looking at Genting Malaysia Bhd due to its new flavour as an international play, just earlier this year this casino operator did not have a compelling story to tell.