Genting shares up on Genting Highlands reopening hope

Genting shares up on Genting Highlands reopening hope
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KUALA LUMPUR (Sept 22): Shares of Genting Bhd and Genting Malaysia Bhd (GENM) extended Tuesday’s gain, as investors digested news that Genting Highlands is on the list for potential domestic tourism reopening from Oct 1 onwards.

Shares of Genting rose nine sen or 1.88% to RM4.99 before pausing at RM4.98 at noon market break, still up eight sen or 1.63%. The counter had gained 2.89% in the last two days.

GENM settled up three sen or 0.98% at RM3.08, after rising four sen or 1.31% earlier.

Genting Highlands is one of three new destinations slated for reopening on Oct 1 alongside Tioman island and the Melaka state, according to the Ministry of Tourism and Culture.

This follows the reopening of Langkawi on Malaysia Day, which saw nearly 10 thousand tourists inbound under the pilot travel bubble reopening that Tourism Minister Datuk Seri Nancy Shukri described as a success.

“Generally, other tourism destinations, especially in areas like Genting Highlands and Fraser Hills, have achieved 100% rate for full vaccination and are ready to reopen… Tomorrow, InsyaAllah, will be a meeting to discuss the opening of interstate tourism,” Bernama quoted Nancy as saying.

“We're excited to welcome you back safely,” Resorts World Genting said in its Facebook post following the announcement, where it shared its protocols for safety assurance for the incoming tourists in its resorts and theme park in Pahang.

Surin Murugiah