Despite a 38 % stockholders that disapproved of the move
Genting Malaysia shareholders approve UK casino plan
(Malaysia / UK).- Genting Malaysia shareholders backed the company's move to acquire the UK casino operations of Genting Singapore in a us$ 527.1 million deal despite a large number of votes against.
2010-08-25
Reading time 15 seg
Shareholder revolts in Malaysia are rare and 38 % of the stockholders voting disapproved of the move in the resolution put to Tuesday's extraordinary meeting.
"People wanted assurances over the next three years to come over Genting UK's profitability," said Genting's deputy chairman Mohammed Hanif Omar.
Genting Malaysia stock was down 2.23 % at 0914GMT, underperforming a 0.l9 % rise in the main Kuala Lumpur stock index .KLSE.
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