Malaysian conglomerate Genting Malaysia Bhd says one of its units has issued MYR900 million (US$216.2 million) in one-year notes, with proceeds to assist “the acquisition of all remaining ordinary shares in Genting Malaysia Bhd” that it does not already hold, the parent said in a filing to Bursa Malaysia on Monday.
The exercise was done by Genting RMTN Bhd, under the group’s MYR10.0-billion medium-term notes programme.
“The net proceeds raised from the issuance of these medium-term notes shall be utilised by the company to part-finance the acquisition of all remaining ordinary shares in Genting Malaysia Bhd – excluding treasury shares – which are not already held by the company pursuant to the takeover offer by the company announced on 13 October 2025,” stated the update.
The interest on the notes is the one-month Kuala Lumpur Interbank Offered Rate, plus 1.80 percent. Affin Hwang Investment Bank Bhd and AmInvestment Bank Bhd are the joint lead managers for the issuance.
In mid-October, Genting Bhd made a circa US$1.59-billion bid to acquire all shares in Genting Malaysia that it didn’t already own, aiming to delist the unit from Bursa Malaysia. The unit runs the Malaysian casino monopoly Resorts World Genting, as well as casinos in the United States and the Bahamas, and in the United Kingdom and Egypt.
Genting Bhd said in recent filings that it now controls nearly 52.63 percent of Genting Malaysia.
According to the parent, the takeover would enhance Genting Malaysia’s financial profile as the latter is in the running for one of three full-scale downstate New York casino licences that are likely to be awarded by the end of 2025.
