Broker Name: Maybank Investment Bank Berhad
Date of Report: October 14, 2025
Excerpt from Maybank Investment Bank Berhad report.
- Report Summary:
- Genting Bhd has made a conditional voluntary takeover offer to privatise Genting Malaysia (GENM) for MYR2.35/share, costing MYR6.7 billion mostly via debt. While the deal appears unfavourable at first due to rich valuations and higher gearing, significant upside exists if Genting Bhd can capture GENM’s key growth catalysts.
- If Genting successfully privatises GENM and secures the Miami land revaluation, sale of Empire’s non-gaming assets, and a New York casino license, its earnings could be boosted by up to 51% and its fair value could rise to MYR4.25/share.
- Maybank maintains a BUY rating, raising Genting Bhd’s target price to MYR3.94, underscoring the potential long-term benefits despite short-term dilution and higher debt.
Above is an excerpt from a report by Maybank Investment Bank Berhad. Clients of Maybank Investment Bank Berhad can be the first to access the full report from the Maybank website: https://www.maybank.com/investment-banking
