GENTING, SUNWAY CITY AND PROTON

Genting Group (GENT MK, Hold, TP: RM5.95) is still on track to launch its S$6.59bn (RM16bn) integrated resort in Singapore by the first quarter of 2010, despite recent news of delays by rival Las Vegas Sands. "We are on track and on time for the soft launch of Resorts World at Sentosa," Genting Bhd head of strategic investments and corporate affairs Datuk Justin Leong said. Meanwhile, Leong did not rule out the possibility of bringing Universal Studios to Malaysia in the future, but said such plans would hinge on the success of Universal Studios in Singapore. (BT)


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Sunway International Hotels & Resorts, subsidiary of Sunway City Bhd (SCITY MK, Buy, TP: RM3.60), has marked its entry into China’s hospitality industry with an agreement to manage the Golden Diamond Hotel in Zhongshan for Perfect (China) Co Ltd. Sunway International chief executive officer Hanley Chew said: “With Sunway Hotel Golden Diamond as our first hotel in China, we have set our sights to expand further in China with potential hotel projects in the pipeline for Beijing and Anhui.” Renamed from Golden Diamond Hotel, Sunway Hotel Golden Diamond is an 18-floor building in the heart of Shiqi district with 194 hotel rooms and 134 apartments. (Financial Daily)

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Proton Holdings Bhd is emphasising on high growth regional markets such as Asean, China, India, the Middle East and North Africa to strengthen its export business. The national carmaker said the selected markets would benefit Proton in terms of economies of scale, quality and capability transfer. Managing director Datuk Syed Zainal Abidin Syed Mohamed
Tahir said the current economic environment demanded for a more aggressive export strategy and that drastic changes would be made to ensure growth in Proton’s business abroad. (StarBiz)
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