GENM Capital has completed an early redemption of over half of a 2015 issuance.<\/p>\n\n\n\n\n\n\n\n
Malaysia.- Genting Malaysia<\/strong> announced in a Wednesday (July 10) filing to Bursa Malaysia that its unit GENM Capital<\/strong> has completed an early redemption on MYR1.3bn (US$276.9m) in nominal value medium-term notes. The amount represents over half of a MYR2.4bn (US$513.72m) issuance conducted in August 2015.<\/p>\n\n\n\n The redeemed bonds had a 10-year maturity and carried a 4.90 per cent interest rate, whereas the remaining MYR1.1bn (US$235.72m) issuance had a five-year tenure with a 4.50 per cent interest rate. On issuance, Genting Malaysia said the proceeds would be used for operating expenses, capital expenditure, investment, and working capital needs, including funding the development and\/or redevelopment properties at Genting Highlands, Pahang.<\/p>\n\n\n\n The bonds were part of a medium-term note programme with a maximum value of MYR5bn (US$1.075bn) announced in September 2014 on behalf of GENM Capital. In June, Genting Malaysia<\/a>\u00a0announced the issuance of\u00a0MYR400m (US$85.85m) in medium-term notes<\/strong>. <\/p>\n\n\n\n For the first quarter of the year, Genting Malaysia<\/a> posted a net profit of MYR36.7m (US$7.8m), which compares to a net loss of MYR45.4m (US$9.65m) a year earlier<\/a>. Revenue was MYR2.76bn (US$586.87m), up 21.1 per cent in year-on-year terms but down 1.6 per cent sequentially.<\/p>\n\n\n\n The company attributed the increased revenue in the leisure and hospitality operations in Malaysia to a higher overall volume of business from gaming and non-gaming segments at Resorts World Genting (RWG). It expressed caution regarding the short-term outlook of the leisure and hospitality industry but said it remains optimistic about the long-term outlook.<\/p>\n","protected":false},"excerpt":{"rendered":" GENM Capital has completed an early redemption of over half of a 2015 issuance.<\/p>\n","protected":false},"author":176,"featured_media":18062,"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 Malaysia's unit, GENM Capital, has completed an early redemption of MYR1.3bn in medium-term notes, representing over half of a 2015 issuance. This capital structure optimization follows a recent MYR400m note issuance and coincides with improved Q1 net profit and revenue, driven by increased business volume at Resorts World Genting.","focusai_entities":"GENM Capital, Genting Malaysia, Bursa Malaysia, Resorts World Genting","focusai_location":"Malaysia, Pahang","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Capital Structure Impact?","query":"What is the projected impact of this early bond redemption and recent issuance on Genting Malaysia's weighted average cost of capital and overall debt-to-equity ratio?"},{"label":"Future Capex Strategy?","query":"How will the remaining MYR1.1bn issuance and improved Q1 profitability influence the accelerated funding and timeline for the development and redevelopment properties at Genting Highlands?"}],"footnotes":""},"categories":[157,16333],"tags":[19394],"class_list":["post-777017196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017196","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=777017196"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017196\/revisions"}],"predecessor-version":[{"id":777017216,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017196\/revisions\/777017216"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18062"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777017196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777017196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777017196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}