Genting Malaysia extends 2-day decline

Genting Malaysia Bhd, Malaysia’s sole casino operator, dropped 0.8 per cent to RM2.60, extending a two-day decline to 4.1 per cent.

Four research companies including OSK Research Sdn Bhd last week cut their outlooks for the stock after Genting Malaysia said on July 1 it will buy some UK casino businesses from Genting Singapore Plc for 340 million pounds (US$509 million).

Genting Bhd, which controls both Genting Malaysia and Genting Singapore, fell 1.4 per cent to RM7.15, its first decline in three days. - Bloomberg