Another Rerating for Genting Malaysia

In spite of poor inbound travel and local patronage at the casino, the ancillary facilities of Genting continues to receive support. Expect the second quarter result of Genting Malaysia to be reduced too.

However, Maybank Investment Bank Bhd has meantime, raised the target price on Genting Malaysia Bhd, to RM3.25 from RM3.10, reflecting higher valuations at its cruise affiliate.

At noon break, the shares of Genting Malaysia advanced 0.7 per cent to RM2.77, set for the highest level since August 20.

So, those with spare cash may want to have a second look at this defensive stock.