3 stories mentioning KLSE:GENMUpdated 9d ago
Every FINWIRES story that references KLSE:GENM, newest first.
Genting Malaysia (KLSE:GENM) completed the voluntary liquidation of dormant subsidiary, GMM, according to a Friday Bursa Malaysia filing.The unit's registration was recorded as cancelled by Macau's Commercial Registry on Sept. 4, with GMM ceasing to exist as a legal entity.
Fitch Ratings has downgraded Genting Malaysia's (KLSE:GENM) Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BBB', with a stable outlook, according to a Monday statement.The ratings agency has downgraded the rating on the company-guaranteed $1 billion senior unsecured notes due 2031 to 'BBB-' from 'BBB'.These rating actions come in the wake of the downgrade of the Long-Term IDR of the company's parent, Genting, to 'BBB-' from 'BBB'.Fitch said that Genting's incentives to support Genting Malaysia would be high; therefore, any weakening of the latter's standalone credit profile would not by itself lead to a downgrade as its IDR would be equalized with that of its parent.In addition, Fitch has affirmed the IDR of Genting Malaysia's wholly owned subsidiary, Genting New York LLC (GENNY), at 'BBB-', with a stable outlook.
Genting (KLSE:GENM, SGX:G13) has launched a SG$20 billion smart city project, which features an AI research facility in Johor, Malaysia, near the Johor-Singapore Special Economic Zone, Nikkei reported Thursday.The development named Johor Tech Smart City, spans across 9.3 square kilometers, and has attracted participation from Huawei Technologies and Chinese humanoid robot developer, Agibot Innovation Technology, the report said.Near the special economic zone, the site provides the Malaysia- and Singapore-listed company with tax incentives, with the developer planning long-stay residential spaces, the report noted.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
