Genting may use sale proceeds for Indonesian projects

Genting’s investments in Indonesia include a 660MW coal-fired power plant, which is being built in Banten, west Java, at an estimated cost of RM3.2bil.

The Banten plant is reportedly expected to commence operations in 2017.

According CIMB Equities Research, Genting’s plan of using the sale proceeds for its Indonesian ventures was a “negative surprise” as it believes the money would be better spent on gaming opportunities, which in turn could lead to a better re-rating of Genting’s shares.

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Posted March 4, 2013 by repit in News

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