Malaysia

Genting Malaysia, the country’s only casino operator, is ramping up preparation works as it prepares to begin rolling out the first stages of its RM10.38 billion ($2.46 billion) Genting Integrated Tourism Plan in the second half of this year.

 

Genting Malaysia, the country’s only casino operator, is ramping up preparation works as it prepares to begin rolling out the first stages of its RM10.38 billion ($2.46 billion) Genting Integrated Tourism Plan in the second half of this year. The company, which has said that it expects the economic environment to be challenging in 2016, is forecast to open its Sky Avenue & Sky Plaza shopping malls, and a new cable car station progressively by the end of the year.



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Fitch Ratings has affirmed Genting Berhad’s Long-Term Foreign-Currency Issuer Default Rating (IDR) and unsecured rating at ‘A-’, according to a press release.

Malaysian conglomerate Berjaya Corp Bhd (BCorp) has reported widened losses to RM368.9 million (US$92.5 million) for the fourth quarter ending April 30, 2016.

Genting Malaysia earnings will see limited impact from oversupply in the region, as earnings have traditionally been driven by mass players, said Morgan Stanley in a note last week.

Casino operator Genting Bhd has reported its first quarter net profit fell 79 percent year-on-year, attributed to a new tax and lowered spending from VIPs.

The Football Association of Malaysia (FAM) has received the approval to introduce a FIFA system that monitors irregular betting patterns.

Malaysia may follow in the footsteps of its southern neighbor Singapore in introducing tougher penalties for those involved in online gambling.

Illegal gambling operators in Malaysia may find themselves locked away for up to two years without trial, under a new proposal from Malaysian authorities.

Casino operator Genting Malaysia Bhd has declared a final single-tier dividend of RM 0.043 (US$0.01) per ordinary share for 2015.

Casino operator Genting Malaysia has proposed the renewal of a disposal mandate for its entire 16.87 stake in cruise operator and Philippines casino investor Genting Hong Kong Limited.

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