Good news! Genting Highlands will be opening sooner than expected and we cannot wait for the next year to come!
The Edge reported that Genting Malaysia Bhd stock went up by 19 sen or 5.51% at RM3.64 today noon (Jul 24) after the news speculated that its outdoor theme park (OTP) will be completed one year earlier.
Maybank Investment Bank unit, Maybank Kim Eng, said the OTP will open in the first quarter or second quarter of 2020 instead of the formerly predicted first quarter of 2021.
Citing to its currently on-going aggressive hiring programme for the park, the brokerage firm believes the theme park that was closed in 2013 will resume in early next year.
Last November, the news of 21st Century Fox Inc pulling out of Genting Highlands OTP shocked the nation but Genting’s CEO Tan Sri Lim Kok Thay assured that plans and efforts to reopen the OTP are “all in place”.
Following that, Genting Malaysia sued Walt Disney Co and 21st Century Fox Inc for more than US$1 billion (or RM4.12 billion), accusing them of abandoning the contract project to build a Fox-themed amusement park.
Walt Disney was acquiring 21st Century Fox at the time, claiming that they do not want to be associated with Genting’s gambling business to protect their “family-friendly” image.
We cannot wait what is in store for us at the Genting Highlands new theme park after being closed for seven years now.
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