Resorts
World Plans Bond Sale
As reported by Reuters: "Hotel
and casino operator Resorts World Bhd plans
to raise around RM1 billion from a bond sale,
people familiar with the plan said, as it seeks
to expand its gaming business.
"Star
Cruises, 36% owned by Resorts, has teamed up
with Genting International, the overseas gaming
unit of gaming firm Genting Bhd, to bid for
two casino resorts in Singapore that could cost
up to US$5 billion (RM18.7 billion) to build.
"Genting,
which is itself expanding its gaming activities
beyond Malaysia, including making strategic
acquisitions or investments in Britain and Asia
-- particularly in Singapore -- owns 58% of
Resorts.
"…Genting,
whose shares have gained 8% so far in 2006 amid
optimism it may win one of two Singaporean licences,
has an AAA credit profile rating from Hafiza
Abdul Rashid, an analyst with Rating Agency
Malaysia. Shares in Resorts have gained 16%
in the same period…"
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