In a significant overhaul of Malaysia’s gaming sector, Genting Bhd has announced plans to privatise its subsidiary, Genting Malaysia, through a conditional voluntary takeover offer valued at RM6.7 billion (approximately S$2.1 billion). Under this plan, Genting is offering RM2.35 per share, which marks a 9.8 per cent premium over Genting Malaysia’s last traded price of RM2.14 before trading was suspended. This move positions Genting Malaysia for a potential delisting from Bursa Malaysia.
With Genting already owning more than 49 per cent of Genting Malaysia, the company expressed confidence that they can meet the acceptance conditions necessary for the takeover. Funding for the acquisition will come from a mix of RM6.3 billion in debt financing and internally generated funds. Genting’s management believes that attaining majority ownership will facilitate capital allocation, bolster large-scale investments, and enhance operational efficiency.
This strategic buyout comes at a time when Genting Malaysia is actively seeking to secure a crucial casino licence in New York, linked to a proposed US$5.5 billion (RM23.2 billion) integrated resort project in Queens. Analysts indicate that the privatisation could lead to broader restructuring within the Genting group, contingent on securing the New York licence.
In a separate financial arena, gold prices surged to a record high on 15 October 2025, reaching US$4,173.56 per ounce, after touching an all-time peak of US$4,186.68 earlier in the day. This increase can be attributed to heightened expectations for further US interest rate cuts and renewed trade tensions between the US and China, both of which have driven up safe-haven demand.
US Federal Reserve chairman Jerome Powell highlighted the subdued labour market while indicating that interest rate decisions would be approached on a “meeting-by-meeting” basis. Investors are currently anticipating a virtual certainty of 25-basis-point rate cuts in both October and December 2025. Gold’s price has now increased by 59 per cent year-to-date, reflecting ongoing geopolitical uncertainties, expectations of US rate cuts, and strong demand from central banks and exchange-traded funds. Silver also followed suit, rising 0.3 per cent to US$51.60 after reaching a record high of US$53.60 the previous day.
Additionally, the SGX Group announced on 16 October 2025 the launch of the Indonesia-Singapore Depository Receipt Linkage, introducing an initial set of Singapore Depository Receipts. This development is a direct result of a memorandum of understanding signed between SGX Group and the Indonesia Stock Exchange in 2024, marking the second significant depository receipt cooperation in the ASEAN region, following the Thailand-Singapore partnership.
The newly launched Singapore Depository Receipts enable investors in Singapore to access Indonesian-listed securities through local brokers and transact in Singapore dollars during SGX market hours. The inaugural receipts, issued by Phillip Securities Pte Ltd, represent beneficial ownership interests in notable companies such as Bank Central Asia, Telkom Indonesia, and Indofood CBP, all of which feature in the benchmark IDX30 Index.
SGX Group CEO Loh Boon Chye referred to the linkage as a key milestone in enhancing regional connectivity, which aligns with recommendations from the Equities Market Review Group published in February 2025. Meanwhile, Iman Rachman, the president director of the Indonesia Stock Exchange, emphasized that this initiative is expected to enhance market liquidity, broaden investor participation, and strengthen cross-border investment flows. Following this addition, the total number of Singapore Depository Receipts listed on SGX now stands at 26.
