Genting Group: The Genting group is making a bid for Pan Malaysian Pools Sdn Bhd. It is not known the price that Genting group is paying, sources said its bid is in the highest end among bids that have been submitted. The next question is which company in the group will be the vehicle to acquire the asset? From the balance sheet, it appears Genting and Genting Malaysia should have no difficulty in financing the purchase since the two listed entities can afford to gear up.
Genting’s cash and cash equivalent stood at rm15.3 billion while it had borrowings of rm14.5 billion. Genting Malaysia is in a net cash position. Its cash pile stood at rm4.5 billion against borrowings of rm619 million.
No comments:
Post a Comment