Company Name
:
GENTING MALAYSIA BERHAD
Stock Name
:
GENM  
Date Announced
:
02/08/2013


Type
:
Announcement
Subject
:
OTHERS

Description
:
GENTING MALAYSIA BERHAD ("GENM" or "the Company")
Acquisition of new indirect wholly-owned subsidiary and re-organisation of group structure

Announcement Details/Table Section :


The Board of Directors of GENM wishes to announce the following :

(i) BB Investment Holdings Ltd., an indirect wholly-owned subsidiary of the Company, has acquired 5,000 registered shares of US$1.00 each, representing the entire equity interest of RWBB Resorts Management Ltd. ("RWBB") on 1 August 2013 for the purpose of undertaking resort management operations ("New Acquisition"). RWBB was incorporated in the Commonwealth of The Bahamas ("Bahamas") on 28 March 2013 under the provisions of the Companies Act 1992 and the Articles of Continuation of RWBB were filed at the Companies Registry of the Bahamas on 17 April 2013 to continue the company under the International Business Companies Act 2000.

(ii) GENM's indirect wholly-owned subsidiary, Genting New York LLC, has on 1 August 2013 transferred its entire equity interest comprising 100 units of US$1.00 each in RWD US LLC, a company incorporated in the State of Delaware, United States of America to Genting Americas Inc., another indirect wholly-owned subsidiary of the Company, for a cash consideration of US$100.00 ("Internal Re-organisation").

None of the Directors and/or major shareholders of the Company and/or persons connected with them is deemed interested in the New Acquisition and the Internal Re-organisation. 

The New Acquisition is not expected to have any effect on the group's profit for 2013. The Internal Re-organisation has no impact on the net assets and earnings per share of the GENM group for the financial year ending 31 December 2013.

This announcement is dated 2 August 2013.


© 2013, Bursa Malaysia Berhad. All Rights Reserved.


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