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Friday, November 6, 2009
Genting, a gaming and power group, said the bulk of the RM1.5bn raised from the sale of medium-term notes will be used for strategic investments globally. "We are looking at a few investment deals but can't disclose them now. Some of the proceeds will go towards the Genting Singapore rights offer," said group head of strategic investments and corporate affairs, Datuk Justin Leong Ming Loong. Genting's unit, Genting Singapore Ltd (GSL), plans to raise SG$1.63 bn (RM3.99bn) from a cash call. Leong was speaking at the launch of the medium-term notes (MTN) programme in Kuala Lumpur yesterday. Genting via its unit GB Services, a special purpose vehicle, priced its inaugural issue of RM1.5bn nominal amount of 10-year MTN under its RM1.6bn MTN programme. (BT)