Tuesday, May 21, 2019

Malaysia

Fitch cuts growth outlook for Asia

The prospects for economic growth in Asia have dimmed in recent months, says ratings agency Fitch, which has cut its forecasts for almost every country in the region.

Genting launches VR zone with The Void

Genting Malaysia has added a virtual reality zone to its Resorts World Genting property, in conjunction with The Void, which plans “aggressive expansion” across Asia.

Genting swings to Q3 loss on notes write off

Genting Malaysia posted a Q3 loss after writing off an investment in promissory notes issued by the Mashpee Wampanoag tribe for a casino project in Massachusetts.

Genting outlook dimmed by lawsuit, tax hikes

A more than $1 billion legal dispute with Walt Disney Co. and Fox Entertainment over a planned theme park is capping off a roller coaster of a year for Genting Malaysia, with analysts slashing their forecasts for the group.

Genting sues Fox, Disney for $1b for breach of contract

Genting Malaysia is suing Walt Disney Co. and 20th Century Fox for $1 billion for pulling out of a contract for a Fox-themed amusement park at its Resorts World Genting property in Malaysia.

RGB posts 27 pct profit increase in 18Q3

Malaysia-listed RGB Asia reported a 27 percent year-on-year profit increase in 18Q3, boosted mainly by improved performance from its sales and marketing division. Total revenue...

Genting tax impact may not be as big as feared

The impact of tax and duty hikes on Genting Malaysia, that were announced in this year’s budget, may not be as bad as initially feared, local media reports, citing a report by UOB Kay Hian Research.

Malaysian police take down WeChat gambling syndicate

Malaysian police have crippled an online gambling ring, arresting 118 people in a raid on Sunday. The illegal gambling syndicated reportedly offered online gambling services...

Genting Malaysia to review marketing expenses after tax hikes

Genting Malaysia said it was reviewing marketing expenses and its cost structure after the government hiked casino taxes and duties in its annual budget, provoking the biggest one-day share price drop on record for the company.

Genting stock suffers record drop after tax hikes

Genting Malaysia stock dropped as much as 30 percent on concern a bigger-than-expected casino tax hike in Friday’s budget will slice into earnings.  

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