Resorts World Bhd, a member of the Genting Group, today held its twenty-ninth Annual General Meeting in Kuala Lumpur. The company owns and operates Genting Highland Resort and the Awana hotel chain in Malaysia. On the AGM agenda was a shareholder vote to approve a name change to Genting Malaysia Bhd, proposed to reflect the country of listing, origin and current operations as well as to reflect the direct relationship between the two entities.

Shareholders were told that the company sees no obstacles to invest in Macau but that no decision had been made to do so. Lim Kok Thay, chairman and chief executive of both Resorts and Genting said “it is a big maybe” depending on the situation. Some analysts have said that speculation that the Malaysian company could buy MGM Mirage’s stake in its Macau joint venture with Pansy Ho might cause problems with Singapore regulators.

Recently the Genting Group subscribed for US$100 million worth of MGM Mirage debt and then purchased a 3.2% stake in the company. In May Genting Singapore saw its stock rise to its highest level in two years as investors saw future profitability in the Sentosa development. Genting's Malaysia-listed stock has risen nearly 24% in the three weeks since Genting first made public its purchase of MGM debt. (E-06.16.09)

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