Background Of Genting Group

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Background   

Resorts World Sdn Bhd, a private company limited by shares, was incorporated on 7 May 1980 under the Companies Act 1965. Upon conversion into a public company in 1989, its name was changed to Resorts World Bhd (1989 – 2009), and subsequently Genting Malaysia Berhad (“Genting Malaysia”) (Co. number 58019-U).

In 1989, Genting Berhad and Genting Malaysia underwent a restructuring exercise, which resulted in Genting Malaysia acquiring from Genting Berhad its entire gaming, hotel and resort-related operations, inclusive of goodwill and other relevant assets. GENM’s shares have been traded on the Main Market of Bursa Malaysia since its listing on 22 December 1989.

Genting Berhad is the investment holding and management company of Genting Group. Genting Group was founded by the late Tan Sri (Dr.) Lim Goh Tong in 1965 when he began the initial development works of building a 20-kilometre private access road, across tough mountainous terrains from the foothills to the summit of Mount Ulu Kali, located at 2,000 metres above sea level.

The company was incorporated under the Companies Act 1965 on 30 July 1968 under the original name of Genting Highlands Hotel Sdn Bhd to operate a hotel and casino, and to develop an integrated tourist complex in Genting Highlands, Malaysia. Genting’s company registration number is 7916-A. The company changed its name to Genting Highlands Hotel Berhad upon its its conversion into a public company on 24 July 1970. It assumed its present name of Genting Berhad on 9 June 1978.

Genting Berhad is 39.8% owned by Kien Huat Realty Sdn Bhd, a private company controlled by the late Tan Sri (Dr.) Lim Goh Tong’s family.

Genting Group via Genting Berhad became involved in palm oil production in 1980 with the acquisition of The Rubber Trust Group, comprising three Hong Kong plantation companies which owned approximately 13,660 hectares of plantation land in Peninsular Malaysia. This division under listed entity Genting Plantations Berhad now has about 240,000 hectares of land in Malaysia and Indonesia. It is one of the leading and lowest cost palm oil producers in Malaysia.

The shares of Genting Berhad were listed on the Main Market of Bursa Malaysia Securities Berhad in 1971. A restructuring exercise was undertaken in 1989, which involved the initial public offering and listing of Genting Malaysia Berhad on Bursa Securities and resulted in Genting Berhad’s becoming an investment and management company.

Genting Group via Genting Berhad became involved in the electricity power generation and supply and the paper manufacturing businesses in 1994, with the acquisition of Genting International Paper Holdings Limited, and in the exploration and production of oil and gas in 1996 under Genting Oil & Gas Limited. In July 2007, the Group divested its paper and packaging business to focus on its core businesses.

 

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Genting Theme Park in Malaysia

 

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Genting Theme Park in Malaysia, expected to be in year 2016.

Malaysia    

Genting Malaysia has been principally involved in the leisure and hospitality business covering theme parks, gaming, hotels, seaside resorts and entertainment for over 50 years. Its Genting Rewards Card Loyalty Programme in Malaysia has to-date garnered a following of 3.7 million members. Resorts World Genting, a premier integrated family leisure and entertainment resort sited at the peak of Genting Highlands, welcomes approximately 20 million visitations annually and is a major tourist destination of choice in Malaysia.

Resorts World Genting is equipped with 6 hotels, theme parks and entertainment attractions, dining and retail outlets, international shows and business convention facilities. The hotels at Resorts World Genting are Genting Grand, Maxims, Resort Hotel, Theme Park Hotel, Awana Hotel and First World Hotel – World’s Largest Hotel, as recognised by Guinness World Records. Genting Malaysia has also embarked on a 10-year master plan to reinvigorate and transform Resorts World Genting under the Genting Integrated Tourism Plan (“GITP”). This includes the development of the world’s first Twentieth Century Fox World theme park. Its first offering, the new First World Hotel Tower 3, was fully opened in June 2015. Other GITP attractions and facilities are expected to be opened in stages from the second half of 2016.


Genting Malaysia also owns two beautiful seaside properties, namely
Resorts World Kijal in Terengganu and Resorts World Langkawi in Langkawi. Collectively, our properties in Malaysia offer over 10,000 rooms.

International
In the United States, Genting Malaysia operates Resorts World Casino New York City
(“RWNYC”), the first and only video gaming machine facility in New York City, at the site of Aqueduct Racetrack. RWNYC is a leading entertainment hub providing approximately 5,500 electronic gaming machines. In addition to its gaming facilities, RWNYC is also renowned for its premier dining and entertainment offerings. RWNYC has achieved several milestones – its daily revenue per machine has consistently been above that of the statewide and industry averages. It has also established itself as the leading gaming operator in the Northeast US market despite intense regional competition.

The Group owns a contiguous 30-acre prime freehold waterfront site overlooking Biscayne Bay in downtown Miami, Florida, United States. The site includes the Omni Center, which consists of retail space, office space and a 527-room Hilton Hotel.

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Genting- Resorts World in New York City.


Acquired by Genting Malaysia in October 2010,
Genting UK is one of the leading casino operators in the United Kingdom with 43 operating casinos. Genting UK operates 6 casinos in London, including four of the most prestigious brands in the capital city, namely Crockfords, the Colony Club, Maxims Casino Club and The Palm Beach. The remaining casinos are located in the UK provinces. These casinos offer memorable experiences with various slots and table games in addition to restaurants, bars and other entertainments. Resorts World Birmingham, the Group’s latest property, was opened in October 2015. As the first integrated leisure complex in the UK, Resorts World Birmingham, which comprises a Genting International casino, a 178-room four-star Genting Hotel, spa and conference facilities, a multi-screen cinema, food and beverage outlets and an outlet centre, will bring a myriad of unique and exciting leisure and entertainment offerings to its visitors. The Group also secured the naming rights of the second largest concert arena in the UK in early 2015 – the arena was renamed Genting Arena.

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Genting in UK.


Others
Genting Malaysia has an equity investment of 16.9%
Genting Hong Kong Ltd, which has core businesses in both land and sea-based businesses comprising Star Cruises, Dream Cruises, Crystal Cruises, German shipyard – Lloyd Werft Group, prominent nightlife brand – Zouk and Resorts World Manila1.

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Genting In Hong Kong.

 

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