Cross default unlikely in Genting group as Genting HK suspends payments to lenders

KUALA LUMPUR (Aug 21): News on Genting Hong Kong Ltd (Gent HK) opting to suspend payments to all creditors to preserve cash is expected to trigger a knee-jerk reaction to the share prices of its sister companies — Genting Bhd and Genting Malaysia Bhd (GENTM) on Bursa Malaysia, although the duo do not hold any equity stake in the Hong Kong-listed cruise operator.

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183 Ampang up for sale

TWO prominent businessmen are looking at divesting 183 Ampang, a six-year-old residential project located close to two major roads in Kuala Lumpur — Jalan Ampang and Jalan Tun Razak — possibly for as much as RM2,400 psf or RM317 million.

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