“Revenue in 2022 and 1H2023 (first half of 2023) in Malaysia (Resorts World Genting), which contributes over 60% of Genting Malaysia’s consolidated figure, was lower than our expectations, affected by factors such as heavy rainfall at the turn of 2023 and a landslide in late 2022, hindering access to the resort.
In a report on Thursday (Aug 17), Inside Asian Gaming magazine cited analysts as saying that the influx of Chinese tourists bodes well for Singapore’s two integrated resorts — Marina Bay Sands and RWS — after each booked strong financial results for the June 2023 quarter.
Of note, are the 112-acre Tropicana Grandhill and Tropicana Paradise, an integrated development and the next phase of the Tropicana WindCity masterplan.
According to King’s Park Development executive vice president Sean Chen, King’s Park will be developed in five phases.
Jorge Perez, the chief executive officer of Related Group, one of Miami’s largest builders, told the WSJ that he “passed” on the deal because Genting wanted the whole acquisition price upfront rather than in stages.
DONE DEAL: Bungalow, Bukit Damansara, Kuala Lumpur DONE DEAL: Semidee, Bukit Damansara, Kuala Lumpur Situated in the midst of a cool and pristine surrounding, Windmill Upon Hills is erected gloriously on Genting Highlands’ elevated grounds.
On Thursday (June 22) morning, GenM disclosed that the purchaser, Smart Miami City LLC, had decided to end its current bid after requesting an extension of the exclusivity period and amendments to the commercial terms of the Sale and Purchase Agreement — requests that GenM chose not to grant.
“GenM has seen the value of its investment in Miami increase approximately 400% in just over a decade, and firmly believes in the sustained strength and growth of the Miami market.
The proceeds from the issuance of the MTNs will be used for, among others, the development of properties and resorts of Genting Malaysia and its subsidiaries, including those in Genting Highlands, Pahang.
In a note, Nomura analysts Tushar Mohata and Alpa Aggarwal said the sale was a very positive development for the company and its parent, Genting Bhd.
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