Hong Leong maintains Hold on Genting, target price unchanged

    Hong Leong Investment Bank Research (HLIB Research) has maintained its “hold” call on Genting Malaysia Bhd and its target price unchanged after Genting Group outlined plans for a casino in Orange County in New York, USA. The project is a 238-acre resort proposed on the site of the Tuxedo Ridge Ski Center. Plans include a casino, two hotels, restaurants and facilities for year-round outdoor recreation including skiing. The investment firm estimated a price tag of between US$400 million and US$750 million