Sale of low-yielding investment in Hong Kong boosts investor sentimentPETALING JAYA: Shares in Genting Malaysia Bhd are on a roll. Genting Malaysia’s share price climbed 22 sen, or 4.8%, yesterday to RM4.75 with 12.5 million shares being traded. The gaming and hospitality operator had inked a share sale agreement with GHL to sell the entire 1.4 billion GHK shares. Following the disposal, UOB Kay Hian said the deal was positive to Genting Malaysia, as GHK continued to be a long-drawn-out investment. Genting Malaysia’s original investment cost in GHK was US$604.1mil (42 US cents per share) and the investment was made between 1998 and 2006.

Source: The Star October 06, 2016 21:33 UTC