Genting Malaysia up 7.42% this morning on theme park plan

PETALING JAYA: Genting Malaysia Bhd, which was the second most active counter this morning, saw its share price rise as much 7.42% to RM3.04 after a Singaporean media outlet reported that its theme park will be completed next year.

At 11.11 am, the stock was trading at RM3.01 with some 52.70 million shares done.

The report quoted Genting Malaysia chairman and CEO Tan Sri Lim Kok Thay as saying that the theme park for which the group is embroiled in a legal dispute with Fox Entertainment Group, LLC, Twentieth Century Fox Film Corp, FoxNext, LLC (collectively known as FOX) and the The Walt Disney Company—remains very much part of the group’s plans.

To recap, in a filing with Bursa Malaysia dated Nov 27, Genting Malaysia said it has filed legal proceedings in the US against FOX, Twenty First Century Fox, Inc (21CF) and The Walt Disney Company in response to a notice issued by FOX to terminate its partnership with Genting.

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