{"id":31834,"date":"2022-07-18T02:51:17","date_gmt":"2022-07-18T05:51:17","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=31834"},"modified":"2026-04-23T06:47:46","modified_gmt":"2026-04-23T09:47:46","slug":"genting-singapore-says-no-sale-discussions-ongoing","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-says-no-sale-discussions-ongoing","title":{"rendered":"Genting Singapore says no sale discussions ongoing"},"content":{"rendered":"\n

Genting Singapore has confirmed that it received an unsolicited approach for its holding in but denied that it is in talks.<\/p>\n\n\n\n\n\n\n\n

Singapore.-\u00a0Genting Singapore Ltd\u00a0<\/strong>has said that it is \u201cnot aware of, nor has it been party to, any ongoing discussions\u201d about a potential sale of the business. It confirmed that Genting Bhd <\/strong>had received an unsolicited approach for its stake in the company but said that the offer had \u201cnot been pursued”.<\/p>\n\n\n\n

The statement issued to the\u00a0Singapore Exchange yesterday (Sunday), did not identify who had made the “unsolicited approach”, but on Friday (July 15) Bloomberg reported that\u00a0MGM Resorts International<\/a>\u00a0had been in touch with controlling shareholder, the Lim family, to explore a deal.<\/p>\n\n\n\n

Genting Singapore\u00a0rose as much as 9.3 per cent<\/strong>\u00a0on that news, reaching its highest price in nearly two years. The company suspended trading until Monday morning (July 18).<\/p>\n\n\n\n

In May, Genting Singapore<\/a> posted a net profit of SG$40.4m (US$28.9m), up 17.3 per cent quarter-on-quarter and up 16.9 per cent when compared to last year.<\/p>\n\n\n\n

Singapore expects an increase in foreign visitors in H2<\/h2>\n\n\n\n

The\u00a0Singapore Tourism Board (STB)<\/strong>\u00a0expects \u201cbetween 4 and 6 million\u201d international visitor arrivals for 2022. Authorities says they are confident that visitor numbers for the year’s second half will be up by at least two-thirds compared to the first half figures.<\/p>\n\n\n\n

The government reported that 1.5 million visitors arrived in the country in the first half. The top five source markets were Indonesia (282,000), India (219,000), Malaysia (139,000), Australia (125,000) and the Philippines (81,000).<\/p>\n\n\n\n

However, the STB said tourist traffic may still face headwinds<\/strong> for the remainder of the year due to the volatile global political and economic situation and the ongoing impact of Covid-19. <\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Singapore has confirmed that it received an unsolicited approach for its holding in but denied that it is in talks.<\/p>\n","protected":false},"author":176,"featured_media":21474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Singapore has confirmed receipt of an unsolicited approach for its stake but denies ongoing sale discussions, despite Bloomberg reports linking MGM Resorts International to the Lim family. This development follows Genting Singapore's Q1 net profit increase and coincides with Singapore's projected H2 tourism recovery, albeit with global economic headwinds impacting visitor numbers.","focusai_entities":"Genting Singapore Ltd, Genting Bhd, MGM Resorts International, Lim family, Singapore Exchange, Singapore Tourism Board (STB)","focusai_location":"Singapore, Indonesia, India, Malaysia, Australia, Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"M&A Regulatory Hurdles","query":"What specific regulatory and governance frameworks in Singapore would a potential acquirer like MGM Resorts International need to navigate for a change of control in Genting Singapore's integrated resort license?"},{"label":"Market Impact Analysis","query":"How would a successful acquisition of Genting Singapore by MGM Resorts International alter the competitive landscape and GGR projections for the integrated resort sector in Southeast Asia?"}],"footnotes":""},"categories":[157,158,16333],"tags":[23687],"class_list":["post-31834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-genting-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=31834"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31834\/revisions"}],"predecessor-version":[{"id":31862,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31834\/revisions\/31862"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21474"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=31834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}