General Announcement for PLC
15/08/2019Empire Resorts on the brink of filing for bankruptcy
GENTING MALAYSIA BERHAD |
Type | Reply to Query |
Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-14082019-00002 |
Subject | Empire Resorts on the brink of filing for bankruptcy |
Description | Genting Malaysia Berhad ("GENM" or "Company")'s response to the letter from Bursa Malaysia Securities Berhad dated 14 August 2019 (Ref. No. IQL-14082019-00002) |
Query Letter Contents | We refer to the media article entitled “Empire Resorts on the brink of filing for bankruptcy” appearing in the TheEdge Financial Daily dated 13 August 2019. In particular, we would like to draw your attention to the sentences which are reproduced as follows:
1. “Empire Resorts, Inc, in which Genting Malaysia Bhd (GenM) will buy a 46% stake from controlling shareholder Tan Sri Lim Kok Thay for US$128 million (RM538 million), is facing a liquidity problem so severe, it has prompted the US-based casino operator to consider filing for voluntary Chapter 11 bankruptcy.”
2. “To keep it going, Empire, in which Lim now controls 84% via Kien Huat Realty III Ltd, has revealed it is in dire need of fresh capital through a cash call, or a restructuring of its whopping debt of over US$400 million.”
3. “Last Friday, debt-laden Empire highlighted to shareholders the option of filing for voluntary bankruptcy in the announcement of its second-quarter financials to the US Securities and Exchange Commission (SEC), noting the option would enable it to easier restructure its borrowings.”
In accordance with Bursa Securities' Corporate Disclosure Policy, kindly furnish Bursa Securities with an announcement for public release confirming or denying the above reported article in particular the underlined sentences after due and diligent enquiry with all the directors, major shareholders and all such other person reasonably familiar with the matters about which the disclosure is to made in this respect. In the event you deny the above reported sentence or any other part of the article, you are required to set forth facts sufficient to support the same.
Please furnish Bursa Securities with your reply via Bursa Link by today.
Yours faithfully
IRWAN JOHARI Assistant Vice President, Issuers Listing Regulation
IJ/AEV
cc:- Market Surveillance, Securities Commission (via fax) |
We refer to the letter from Bursa Malaysia Securities Berhad dated 14 August 2019 in relation to the above. Please refer to the attached for GENM's response. |
Please refer attachment below.
Attachments |
Announcement Info
Company Name | GENTING MALAYSIA BERHAD |
Stock Name | GENM |
Date Announced | 15 Aug 2019 |
Category | General Announcement for PLC |
Reference Number | GA1-15082019-00024 |