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on paper, things seem working and NY casino is generating higher revenue and income but on the share price and market capitalization, he managed to pull it down until back in the 90's price. if not for privatization purpose, really no idea what is brewing.
imagine the boss offers rm3 for genting shares now as part of his privatization. a share that worth around rm8 being offered at rm3, would you sell to him?
UIMB trying to extend settlement to Dec 2028. keep delaying again and again. it now depends if Bintai wanna to take legal action after end Sept since UIMB willing to negotiate the new charge rate by then.
seem quiet. if good news, should have started trading with high volume. seem no high trading or speculation from the market. probably nothing would be announced or got delayed or postponed by UIMB again.
the real question now is how much would UIMB willing to pay which is acceptable to Bintai? I recalled back in 2024, Datuk Tay mentioned they were looking at rm393 mil valuation back then. I believe this includes settlement of the outstanding debts to bintai and also to bank. if UIMB can secure bank loans with Melaka gov guarantee, shouldn't be an issue to acquire. just whether they agreed with rm393 mil or much lower valuation?
