Genting Bhd’s Takeover of Genting Malaysia Moves Forward After Crossing 50% Ownership Threshold

Genting Bhd’s long-anticipated takeover bid for Genting Malaysia Berhad has officially turned unconditional after the parent company’s stake rose above 50%, reaching about 50.11% of the total issued shares. This development marks a key milestone in Genting Bhd’s ongoing plan to consolidate control over its Malaysian gaming arm and streamline the group’s structure. According to source, the acquisition bid, first announced in September 2025, is proceeding as Genting Bhd now satisfies the ownership threshold required under Malaysian takeover regulations.

The offer is priced at MYR 2.35 per share (approximately US $0.56), valuing the total deal at over MYR 6.7 billion. Genting Bhd has made clear its intention to increase ownership further toward the 75% control threshold—and potentially beyond 90%—which could enable a compulsory acquisition and delisting of Genting Malaysia from Bursa Malaysia. Reports by The Business Times and The Edge Malaysia note that the move is designed to strengthen capital allocation efficiency and reduce operational duplication between Genting Bhd’s global units, particularly as it pursues expansion opportunities in the United States.

A major strategic driver behind the takeover is Genting’s ambition to fund and develop a US $5.5 billion integrated resort in New York, operated by its U.S. subsidiary, Resorts World New York City. Analysts believe full control over Genting Malaysia would give the parent company greater flexibility to channel capital into large-scale projects, while simplifying cash-flow management and inter-company transactions.

However, the move has raised some financial red flags. CreditSights and other research firms have described the deal as “credit-negative,” warning that it could lift Genting Bhd’s net leverage ratio to nearly 3.9× on a pro-forma basis. A potential delisting of Genting Malaysia could also reduce corporate transparency and diminish governance oversight—issues that have drawn scrutiny from institutional investors and minority shareholders alike.

The offer remains open for acceptance until 24 November 2025, unless extended. Minority shareholders are being urged to consider both the 9.8% premium offered over Genting Malaysia’s last trading price and the long-term implications of reduced market liquidity and disclosure. Analysts view the development as a defining moment for the Genting Group’s restructuring, setting the stage for deeper integration but also testing investor confidence in the conglomerate’s debt-management strategy amid ambitious overseas expansion.