Genting should take Resorts private: AmResearch

GENTING Bhd should take its 49 per cent unit Resorts World Bhd private in a deal that could cost Asia's largest publicly traded casino operator some RM14 billion, AmResearch said in a report this week.The report echoed a similar suggestion made six months ago by J P Morgan Chase & Co.AmResearch said taking it private would help the Genting group's growing funding requirements and eliminate earnings leakage, as it would be able to fully consolidate Resorts earnings and gain access to its cashflows.It rates Resorts as a buy with a target price of RM4.65. The stock closed up 10 sen to RM4.00 yesterday. Read More

(New Straits Times 14-2-2008)