Genting SP

Genting SP: CIMB retracts its negative view on GENS' bid to develop a US$2.2b casino resort on South Korea's Jeju Island, saying it now believes the JV project "will go ahead as planned." The house issued a report earlier this week saying GENS could face problems persuading South Korean regulators to redesignate land that is currently marked for health-care and education investment. "We were wrong on the designation for the Jeju site earmarked for development," CIMB says. "The site is not intended for healthcare and education but for a history theme. This is appropriate for the project's Myth and History Theme Park." The house keeps an Add call and TP $1.72 . The stock is down 0.4% at $1.325