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Research firms retain forecast on GENM amid battle to recover RM1.49 bil notes

Mimi Sabreena 12:53:00 PM Informasi

KUALA LUMPUR (July 10): Analysts are maintaining their ratings and target price (TP) on Genting Malaysia Bhd (GENM), despite the group’s battle to recover US$347.4 million (RM1.49 billion) in investment in an integrated gaming resort in the US, which has been stalled pending the resolution of a legal case.

The investment came in the form of subscription to interest-bearing promissory notes dispensed by the Mashpee Wampanoag Tribe to fund the pre-development expenses of the resort, located in Taunton, Massachusetts, on April 1, 2016.

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