Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/genting-bhd" target="_blank" data-smartkarma-citation="entities:14210:1" rel="noopener">Genting Bhd (GENT MK)</a>'s unconditional Offer for <a href="https://www.smartkarma.com/entities/genting-malaysia-bhd" target="_blank" data-smartkarma-citation="entities:3141:1" rel="noopener">Genting Malaysia (GENM MK)</a> closed yesterday, the 1st December, with GENT holding 73.13%, up from 49.99% initially. </li>
<li>The IFA previously opined the Offer to be NOT fair, and NOT reasonable. A bump in terms, long rumoured, failed to unfold. </li>
<li>Yesterday, GENM was one of three applicants selected by New York’s Gaming Facility Location Board for a full commercial casino license in downtown New York.</li>
</ul>



Genting Bhd (GENT MK)'s unconditional Offer for Genting Malaysia (GENM MK) closed yesterday, the 1st December, with GENT holding 73.13%, up from 49.99% initially. 
The IFA previously opined the Offer to be NOT fair, and NOT reasonable. A bump in terms, long rumoured, failed to unfold. 
Yesterday, GENM was one of three applicants selected by New York’s Gaming Facility Location Board for a full commercial casino license in downtown New York.


Genting Malaysia (GENM MK): Offer Closes As New York Casino Licence Awarded

<ul>
<li>Back on the 13th October 2025, <a href="https://www.smartkarma.com/entities/genting-malaysia-bhd" target="_blank" data-smartkarma-citation="entities:3141:1" rel="noopener">Genting Malaysia (GENM MK)</a>, the owner of Resort World Genting,  announced a conditional Offer from controlling parent <a href="https://www.smartkarma.com/entities/genting-bhd" target="_blank" data-smartkarma-citation="entities:14210:1" rel="noopener">Genting Bhd (GENT MK)</a>
</li>
<li>GENT offered RM2.35/share, a 9.81% premium to last close, for the 50.64% of shares out not held. The Offer had a 50% acceptance threshold. The Offer is now unconditional.
</li>
<li>
The Independent Advice Circular is now out. The IFA says NOT fair, and NOT reasonable. And to reject the Offer. The revised closing date is the 1st December. </li>
</ul>


Back on the 13th October 2025, Genting Malaysia (GENM MK), the owner of Resort World Genting,  announced a conditional Offer from controlling parent Genting Bhd (GENT MK)

GENT offered RM2.35/share, a 9.81% premium to last close, for the 50.64% of shares out not held. The Offer had a 50% acceptance threshold. The Offer is now unconditional.


The Independent Advice Circular is now out. The IFA says NOT fair, and NOT reasonable. And to reject the Offer. The revised closing date is the 1st December. 


Genting Malaysia (GENM MK). The Offer Is Now Unconditional. The IFA Rejects Terms

<ul>
<li>
<a href="https://www.smartkarma.com/entities/genting-malaysia-bhd" target="_blank" data-smartkarma-citation="entities:3141:1" rel="noopener">Genting Malaysia (GENM MK)</a>, the owner of Resort World Genting, has <a href="https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=162685&amp;name=EA_GA_ATTACHMENTS" target="_blank" rel="noopener">announced</a> a conditional offer from controlling parent <a href="https://www.smartkarma.com/entities/genting-bhd" target="_blank" data-smartkarma-citation="entities:14210:1" rel="noopener">Genting Bhd (GENT MK)</a>.</li>
<li>GENT is offering RM2.35/share, an uninspiring 9.81% premium to last close, for the 50.64% of shares out not held. The Offer has a 50% acceptance threshold.</li>
<li>GENT already consolidates GENM (AFAIK). At this price, compulsory acquisition won't be afforded (you'd think). GENT should have launched the Offer back in April when the share price was floundering.</li>
</ul>



Genting Malaysia (GENM MK), the owner of Resort World Genting, has announced a conditional offer from controlling parent Genting Bhd (GENT MK).
GENT is offering RM2.35/share, an uninspiring 9.81% premium to last close, for the 50.64% of shares out not held. The Offer has a 50% acceptance threshold.
GENT already consolidates GENM (AFAIK). At this price, compulsory acquisition won't be afforded (you'd think). GENT should have launched the Offer back in April when the share price was floundering.


Genting Malaysia (GENM MK): Genting (GENT MK)'s Curious Offer

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/genting-malaysia-bhd" target="_blank" data-smartkarma-citation="entities:3141:1" rel="noopener">Genting Malaysia (GENM MK)</a> disclosed a conditional voluntary offer from <a href="https://www.smartkarma.com/entities/genting-bhd" target="_blank" data-smartkarma-citation="entities:14210:1" rel="noopener">Genting Bhd (GENT MK)</a> at RM2.35, a 9.8% premium to the last close price of RM2.14. </li>
<li>The 50% minimum acceptance condition is easily met as Genting is the largest shareholder, representing 49.36% of outstanding shares. </li>
<li>Genting’s preferred endgame is to delist GENM, thereby fully benefiting if GENM successfully bids for a downstate New York casino licence. Therefore, there is a good chance of a bump. </li>
</ul>



Genting Malaysia (GENM MK) disclosed a conditional voluntary offer from Genting Bhd (GENT MK) at RM2.35, a 9.8% premium to the last close price of RM2.14. 
The 50% minimum acceptance condition is easily met as Genting is the largest shareholder, representing 49.36% of outstanding shares. 
Genting’s preferred endgame is to delist GENM, thereby fully benefiting if GENM successfully bids for a downstate New York casino licence. Therefore, there is a good chance of a bump. 


Genting Malaysia (GENM MK): Genting’s Conditional Voluntary Offer at RM2.35

<ul>
<li>On the 26th September, precision parts manufacturer <a href="https://www.smartkarma.com/entities/spindex-industries-ltd" target="_blank" data-smartkarma-citation="entities:17868:1" rel="noopener">Spindex Industries (SPE SP)</a> announced an Offer, by way of a Scheme, from the Tan Family, Spindex's controlling shareholder, with 74.95%.</li>
<li>The Tan's offered S$1.43/share, an okay 27.7% premium to undisturbed; but a decade-high price. A A$0.02/share was also bolted on (&amp; now paid). No competing Offer will emerge.</li>
<li>
<a href="https://links.sgx.com/FileOpen/Spindex_Scheme%20Document.ashx?App=Announcement&amp;FileID=868915" target="_blank" rel="noopener">The Scheme Booklet is now out,</a> with a Scheme Meeting on the 18th December, and expected payment on the 11th Feb 2026. The IFA (Evolve Capital) says "fair &amp; reasonable".</li>
</ul>


On the 26th September, precision parts manufacturer Spindex Industries (SPE SP) announced an Offer, by way of a Scheme, from the Tan Family, Spindex's controlling shareholder, with 74.95%.
The Tan's offered S$1.43/share, an okay 27.7% premium to undisturbed; but a decade-high price. A A$0.02/share was also bolted on (&amp; now paid). No competing Offer will emerge.

The Scheme Booklet is now out, with a Scheme Meeting on the 18th December, and expected payment on the 11th Feb 2026. The IFA (Evolve Capital) says "fair &amp; reasonable".


Spindex Inds (SPE SP): 18th Dec Vote On MBO

Malaysia

Genting Malaysia Berhad operates a tourist resort in Genting Highlands which includes hotels, restaurants, casinos, and recreational and amusement facilities. Through its subsidiaries, the Company also develops and leases property, operates leisure and hospitality services, and provides time share ownership scheme.

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Genting Malaysia (GENM MK)