Genting chases global expansion to boost growth

    Published in: Latest IntelligenceGenting Bhd is on an expansion drive as the Malaysian conglomerate aggressively seeks global growth to offset a flattening in its core Singapore and Malaysia markets. The company may spend at least $9.5 billion over the next five years, according to CIMB estimates, and that doesn’t include a potential project in Japan or Miami.The group recently announced a venture in South Korea, a new casino in Las Vegas, and a major revamp of its Genting Highlands property at home. Its name has also been mentioned in connection with possible projects in Florida, Vietnam, Sri Lanka, Taiwan and the main prize, Japan.The plans have generated considerable buzz about the sprawling conglomerate that has interests ranging from cruise lines to plantations. Ten of the 22 analysts who cover the company have either a buy, or an outperform, rating on its shares with nine holds, one sell and one...

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