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Recently, Genting Malaysia (GENM) said it is investing another US$100 million (RM438.5 million) to acquire convertible preferred stock (Series F) in Empire Resorts from Kien Huat Realty III Ltd, raising its investment in Empire Resorts Inc to US$624.4 million.
MSWG had commented on the RPTs entered by GENM in the past. In our view, GENM should explain how it sees the investment as being in the best interest of the Company, although the investment is not subject to shareholders’ approval.

The Covid-19 pandemic has accelerated the adoption of technology and the acceptance of virtual meetings. Having attended hundreds of AGMs a year, both physically and virtually, we could sum up that hybrid meeting combines the best of both worlds, incorporating the elements of the two forms of meetings into one.