{"id":777034862,"date":"2025-11-20T08:52:49","date_gmt":"2025-11-20T11:52:49","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777034862"},"modified":"2026-04-21T16:54:57","modified_gmt":"2026-04-21T19:54:57","slug":"genting-bhd-pushes-past-60-ownership-in-genting-malaysia","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-bhd-pushes-past-60-ownership-in-genting-malaysia","title":{"rendered":"Genting Bhd pushes past 60% ownership in Genting Malaysia"},"content":{"rendered":"\n

The parent group continues to grow its stake in its bid to delist Genting Malaysia.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- Genting Bhd has increased its ownership of Genting Malaysia Berhad to more than 60 per cent<\/strong>. Filings to Bursa Malaysia this week confirmed that the parent now controls between 60.61 and 60.63 per cent of the subsidiary following a new round of share acquisitions tied to its takeover offer.<\/p>\n\n\n\n

Genting Bhd made a MYR6.74bn (US$1.59bn) bid in mid-October to acquire all remaining shares in Genting Malaysia that it does not already own. The cash offer of MYR2.35 (US$0.55\u20130.57) per share became mandatory earlier this month after the parent crossed the 50 per cent threshold and triggered local takeover rules<\/a>. The acceptance deadline has since been extended to December 1.<\/p>\n\n\n\n

Genting Malaysia\u2019s operations include casinos in Malaysia, the United Kingdom, Egypt, the United States, and the Bahamas, with its flagship Resorts World Genting remaining Malaysia\u2019s only licensed casino<\/strong>. The company is also bidding for one of the three full-scale commercial casino licences expected to be issued in downstate New York by late 2025. It has proposed a large-scale upgrade of Resorts World New York City in Queens, which analysts believe is a strong contender for approval<\/a>.<\/p>\n\n\n\n

Genting Bhd has stated that consolidating ownership would strengthen Genting Malaysia\u2019s financial profile ahead of the New York licensing process and streamline strategic decision-making. The parent aims to ultimately delist its subsidiary, either via statutory control at 75 per cent ownership or, should it reach 94.94 per cent, through a compulsory minority squeeze-out.<\/p>\n\n\n\n

Some independent advisors<\/a> have argued that the MYR2.35 offer undervalues Genting Malaysia. Kenanga Investment Bank said the proposal is \u201cnot fair and not reasonable,\u201d estimating the company\u2019s intrinsic value at MYR3.48 to MYR3.77 per share. Non-interested directors at Genting Malaysia have publicly urged minority shareholders to reject the bid.<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Independent advisors urge Genting Malaysia to reject Genting Bhd\u2019s takeover offer<\/a>\n\t\t\t\t<\/p>\n<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

The parent group continues to grow its stake in its bid to delist Genting Malaysia.<\/p>\n","protected":false},"author":680,"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 Bhd has increased its stake in Genting Malaysia Berhad to over 60%, advancing its MYR6.74bn bid to delist the subsidiary. This strategic consolidation aims to strengthen Genting Malaysia's financial profile and streamline decision-making, particularly ahead of its pursuit for a downstate New York casino license. However, independent advisors argue the offer significantly undervalues Genting Malaysia.","focusai_entities":"Genting Bhd, Genting Malaysia Berhad, Kenanga Investment Bank","focusai_location":"Malaysia, United Kingdom, Egypt, United States, Bahamas, New York, Queens","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"New York License Impact","query":"How might the consolidated ownership structure of Genting Malaysia specifically enhance its competitive advantage or regulatory standing in the highly contested downstate New York casino licensing process?"},{"label":"Minority Shareholder Strategy","query":"What are the potential next steps for Genting Bhd if the minority shareholders continue to reject the offer, particularly regarding the 75% statutory control or 94.94% squeeze-out thresholds?"}],"footnotes":""},"categories":[157,16333],"tags":[1076,24657,19394,226],"class_list":["post-777034862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting","tag-genting-berhad","tag-genting-malaysia","tag-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777034862","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\/680"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777034862"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777034862\/revisions"}],"predecessor-version":[{"id":777034871,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777034862\/revisions\/777034871"}],"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=777034862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777034862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777034862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}