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Genting Malaysia's costly foray into Empire

THE stakes are getting higher for Genting Malaysia Bhd (GenM) following its foray into Empire Resort Inc in the US. The company has invested US$624.4 million (RM2.74 billion) in its 49%-owned Empire over the last four years. GenM’s latest exercise announced last week will see it invest another US$100 million in convertible preferred stocks issued by Empire. With the latest investment, its stake in Empire will increase to 76.3% if the convertible instruments are not redeemed. The New York-based gaming company has until 2030 to redeem the convertibles. ....

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Axiata, Digi rise on planned telco operations merger

Axiata, Digi rise on planned telco operations merger
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