Genting SP: has in Nov, set up two Mongolian subsidiaries with principal activity to be in real estate. Each of the subsidiaries has paid-up capital of ~S$125k.
This development strikes us as curious, given GENS’ mainstay operations in gaming. Nevertheless, this is not the only side invmt for GENS. Earlier this yr in May, GENS bought a 69% stake in Goldnature Investments for US$60m. Goldnature has portfolio interests in natural resource ventures.
The ventures so far are not expected to have any material impact on the financials of GENS, but it could be interesting to watch the co’s progress in this area going forward.
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