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Maybank not betting on Genting Singapore

Jude Chan
Jude Chan11/14/2016 12:09 PM GMT+08  • 2 min read
Maybank not betting on Genting Singapore
SINGAPORE (Nov 14): Maybank Kim Eng has downgraded Genting Singapore to “sell” after the integrated resorts operator announced the sale of its 50% stake in Resorts World Jeju.
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SINGAPORE (Nov 14): Maybank Kim Eng has downgraded Genting Singapore to “sell” after the integrated resorts operator announced the sale of its 50% stake in Resorts World Jeju.

The research house, however, raised GENS’s target price marginally to 73 cents, from 72 cents previously, to account for the disposal gain.

According to Maybank, GENS will rake in some $81 million in disposal gains after it sells its half in RWJ to its joint venture partner, Landing International Development, for US$420 million ($588 million).

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