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Latest Key Developments

Genting Hong Kong Limited's Joint Controlled Entity Files Registration Statement US Securities And Exchange Commission
Tuesday, 26 Oct 2010 10:50pm EDT

Genting Hong Kong Limited announced that NCL Corporation Ltd. (NCLC) filed a registration statement which is not yet effective, with the US Securities and Exchange Commission for the initial public offering of NCLC's ordinary shares. NCLC is a limited liability company that is jointly controlled by the Company. 50% of the issued shares of NCLC is owned by the Company and the remaining 50% is owned by to third party groups.

Genting Hong Kong Limited Does Not Declare Dividend
Sunday, 29 Aug 2010 07:02am EDT

Genting Hong Kong Limited announced that the Directors do not recommend the declaration of interim dividend in respect of the six months ended June 30, 2010.

Genting Hong Kong Limited's Vista Knowledge Announces Subscription For Shares In Union Bank Of Colombo Limited
Tuesday, 8 Jun 2010 07:22am EDT

Genting Hong Kong Limited announced that Select Gain and Union Bank entered into the Subscription Agreement pursuant to which Union Bank agreed to issue and Select Gain agreed to subscribe, on a conditional basis, for the Subscription Shares for a total consideration amount of LKR225,000,000 (equivalent to approximately HKD15,439,500). On April 30, 2010, Vista Knowledge, a wholly owned subsidiary of GENT entered into a subscription agreement with Union Bank in relation to the subscription for certain shares in Union Bank by Vista Knowledge. After the completion of the subscription for shares in Union Bank by Vista Knowledge, GENT, will through Vista Knowledge, hold approximately 20.38% shareholding interest in Union Bank and will become a substantial shareholder of Union Bank.

Genting Hong Kong Limited Does Not Recommend Final Dividend
Thursday, 25 Mar 2010 08:13am EDT

Genting Hong Kong Limited announced that its Directors do not recommend the declaration of any final dividend in respect of the year ended December 31, 2009 (2008: Nil).

Gentling Hong Kong Limited's Subsidiary Enters Into Loan Agreement Of USD150 Million
Thursday, 11 Feb 2010 06:58pm EST

Genting Hong Kong Limited announced that Ample Avenue Limited (AAL), an indirect wholly owned subsidiary of the Company, as the borrower, entered into the Loan Agreement with Calyon Asia Shipfinance Limited, as the agent and security trustee, and Crédit Agricole Corporate and Investment Bank, DnB NOR Bank ASA, Singapore Branch, Malayan Banking Berhad and RHB Bank (L) Ltd, as lenders, for general corporate and working capital purposes of the Group. Under the Loan Agreement, the lenders have granted AAL, the secured floating rate term loan facility of up to USD150,000,000 made available under the Loan Agreement (Term Loan Facility). The maturity date of all outstanding amounts under the Term Loan Facility will be the date falling 5 years from the drawdown date of the Term Loan Facility or March 31, 2015, whichever is the earlier.

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Resorts World operator gets $300M in funds

TRAVELLERS International Hotel Group, Inc., a joint venture between Andrew L. Tan-led Alliance Global Group, Inc. and Genting Hong Kong Ltd., has raised $300 million in fresh capital by selling seven-year bonds. The maiden offering of the unlisted hotel and leisure firm, bagged the lowest coupon rate for a gaming firm worldwide, officials said.

Fresh funds will be for the “expansion of Resorts World,” Alliance Global President Kingson U. Sian told reporters.

“Travellers [International] was able to successfully tap the bond market after just a year of operations. It has no credit history yet,” he added.

“Since this is the maiden issue of [Travellers International], for them to raise $300 million and $1.1 billion in demand is unique,” said Lauro C. Baja III, managing director of sole global coordinator UBS Investments Philippines, Inc.

The coupon rate for the bonds due in 2017 is 6.9%, lower than the guidance of 7.5%.

“[The investors] are comfortable with the principal shareholders Alliance Global and Genting,” Mr. Baja said.

The bonds were sold to 88 investors, 90% of which were from Asia, and 10% from Europe. Mr. Baja said 59% of the bonds were secured by banks. A quarter went to fund managers.

UBS and Deutsche Bank were the joint book runners while the local lead manager was Banco De Oro Capital and Investment Corp.
Mr. Baja said investors wanted more exposure to Alliance Global following the conglomerate’s $500-million maiden bond issue, which was nine times oversubscribed, in August.

Travellers International, which operates the eight-hectare Resorts World Manila in Pasay, is 50% owned by Genting, the third-largest cruise line operator in the world. -- Neil Jerome C. Morales

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Genting HK gets share price boost from US unit

50% owned NCL Corp is priming for a US$250m IPO

By VEN SREENIVASAN

A SLEW of positive news regarding its North American cruise line subsidiary sent Genting Hong Kong bucking the broader market downtrend yesterday.

Genting Hong Kong rose to as high as 47.5 US cents in early trading, before the broader market weakness pared it to 45 US cents for a one US cent gain.

This came after its 50 per cent controlled NCL Corporation (NCL) filed a registration with the US Securities and Exchange Commission for an initial public offering of up to US$250 million.

No details on the number of shares or their offer price were immediately available.

NCL also released strong third-quarter results, with net profit rising 8.6 per cent year on year to US$93 million for the three months to end-September. This brought its cumulative earnings for the first nine months of this year to US$61.9 million. NCL had posted a net loss of US$31.1 million for the first half, mainly due to a non-recurring forex charge of US$33.1 million for Q2 2010 due to financing contracts for a ship, Norwegian Epic.

In another positive development, NCL also announced that it had reached an agreement with Germany's Meyer Werft GmbH to build two new next-generation Freestyle Cruising ships for delivery in spring 2013 and spring 2014, respectively.

Each of the 143,500 gross ton vessels - the largest passenger/cruise ships to be built in Germany - will have some 4,000 passenger berths and a rich cabin mix.

NCL chief executive officer Kevin Sheehan said that the decision to add the two new ships reflected the significant progress that the cruise operator had made in improving its operating performance.

Genting Hong Kong, once known as Star Cruises, is a three-pronged US$3 billion market-cap gaming entity comprising Star Cruises in Asia, NCL in the US, and Resorts World Manila in the Philippines.

After plodding along for much of last year, all three businesses appear to have established strong footholds in their respective areas and are turning around strongly.

UOB-KayHian, which tracks the company, expects Genting Hong Kong to post pre-tax earnings of US$115.3 million for this year and US$190.5 million for 2011, against a loss of some US$24 million for 2009.

Meanwhile, market insiders here also see Genting Hong Kong as a cheaper warrant on Genting Singapore, whose price has risen sharply in recent months following the strong performance of its Singapore integrated resort at Sentosa.

epliew ( Date: 28-Oct-2010 19:07) Posted:

spicy, u really can sleep ya.....

spicy88 ( Date: 28-Oct-2010 18:11) Posted:

What is a day of wrong timing or delay in blow out when you are supposed to go long(^3) for this counter (Pharoah88, right)? I have learnt to sleep well these days so long as it does not go below 43 cents...but my heart will start pumping again when it crosses 50cents....

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spicy, u really can sleep ya.....

spicy88 ( Date: 28-Oct-2010 18:11) Posted:

What is a day of wrong timing or delay in blow out when you are supposed to go long(^3) for this counter (Pharoah88, right)? I have learnt to sleep well these days so long as it does not go below 43 cents...but my heart will start pumping again when it crosses 50cents....

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pharoah,

pls baby talk leh, what is the tp to sell....genting hk.... or it would see saw until something happened ?

pharoah88 ( Date: 28-Oct-2010 14:00) Posted:

天长地久

Invest Fair 2010 Marina Bay Sands

Floor audience asked about GENTING SP and GENTING HK, TOP Speakers Panel declared that it was very difficult to comment on the GENTING TWINS as they have their very own UNIQUE PERSONALITIES [DNAs].

CIMB is the only one who specialises in GENTING TWINS.

It had conducted its own separate briefings for GENTING SP and GENTING HK.

There will be GRAND PRESENTATION on Saturday: 6 November 2010

REGIONAL GAMING SEACTOR OUTLOOK [06 11 2010]

DBS Auditorium Level 3

GENTING SP AGM 2010 and EGM 2010 at RWS

Big group of PIONEER GENTING shareholders were there loyally holding on to GENTING shares through thick and thin for more than 30 years.

They proclaimed that GENTING is GENTING and there is nothing comparable.

Even though the dividend had never been attractive or even not a consideration, they still go for GENTING LONG LONG LONG.

Since Day One till now, great majority of analysts were ALL WRONGS and MORE WRONGS.

I had met several investors who attended paid public investor seminars held by individual analysts who cautiously advised them to STAY CLEAR of GENTING SP at S$0.33, at S$0.68 ........ and some were even warned to NEVER TOUCH GENTING SP.

NOW, they ALL regretted that they had mIssed theIr FORTUNES.

GENTING TWINS have their own KARMA and so do their management as well as their shareholders.

It takes the PIONEERS mOre than 3 DECADES to knOw GENTING

AnthonyTan ( Date: 28-Oct-2010 13:12) Posted:

According to UOBKH, the fair price is US$0.40.

x 0

What is a day of wrong timing or delay in blow out when you are supposed to go long(^3) for this counter (Pharoah88, right)? I have learnt to sleep well these days so long as it does not go below 43 cents...but my heart will start pumping again when it crosses 50cents....

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Thursday: 28 10 2010 CLOSING

HALLOWEEN PARTY DAY

CELESTIAL BLACKHOLE S$2.16 [GENTING SP]

e Genting HK US$ (S21)
Day Hi	0.465	Last	0.450	Vol	23,807,000
Day Lo	0.450	$Chng	0.000

Price	Trades	Volume	Sold to Buyer	Mid	Bought from Seller
0.450	8	1,467,000	1,467,000	0	0
0.455	94	7,441,000	3,954,000	0	3,487,000
0.460	192	14,620,000	9,666,000	0	4,954,000
0.465	11	279,000	0	0	279,000
TOTAL	305	23,807,000	15,087,000	0	8,720,000

Time	Price	Trade Size	Bid-Ask
--	--	--	--



17:05:03	0.450	1,171,000	Sold To Buyer
16:59:10	0.450	150,000	Sold To Buyer
16:58:20	0.450	10,000	Sold To Buyer
16:58:09	0.455	20,000	Bought From Seller

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Thursday: 28 10 2010 CLOSING

HALLOWEEN PARTY DAY

CELESTIAL BLACKHOLE S$2.16

Stock	Code	i	Rmk	Ccy	Last	$Chng	%Chng	Vol	Buy Vol	Buy	Sell	Sell Vol	Open	Previous	Day Hi	Day Lo	Ind	Sector	Mkt	Off Code	Feed Code	COC BB	COC LD	COC BS
TopGlobal W150929	5RWW	i	--	SGD	0.010	+0.005	+100.0	682,547,000	236,918,000	0.005	0.010	116,929,000	0.005	0.005	0.010	0.005	M	--	SGX	5RWW	TPGB_ta.SI	--	--	--
TopGlobal	519	i	--	SGD	0.010	+0.005	+100.0	646,896,000	256,879,000	0.010	0.015	295,065,000	0.010	0.005	0.015	0.010	C,M	--	SGX	519	TPGB.SI	--	--	--
XinRen	MN5	i	--	SGD	0.530	-0.105	-16.5	353,197,000	5,395,000	0.525	0.530	1,735,000	0.640	0.635	0.650	0.520	C,M	--	SGX	MN5	XIRN.SI	--	--	--
Genting SP	G13	i	--	SGD	2.160	+0.030	+1.4	237,540,000	2,866,000	2.160	2.170	4,097,000	2.190	2.130	2.210	2.150	M

Yangzijiang	BS6	i	--	SGD	1.860	-0.030	-1.6	23,965,000	1,772,000	1.860	1.870	230,000	1.890	1.890	1.900	1.850	C,M	--	SGX	BS6	YAZG.SI	--	--	--
e Genting HK US$	S21	i	--	USD	0.450	0.000	0.0	23,807,000	3,371,000	0.450	0.455	150,000	0.460	0.450	0.465	0.450	M	--	SGX	S21	GENH.SI	--	--	--
GoldenAgr	E5H	i	--	SGD	0.665	-0.005	-0.7	21,595,000	4,404,000	0.665	0.670	493,000	0.675	0.670	0.680	0.665	M

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A prOfitable 20.38%

A majOr sharehOlder

tradermonster ( Date: 28-Oct-2010 11:36) Posted:

How about 20.38% in Union Bank of Colombo Limited at Sri Lanka?

B. INFORMATION ABOUT THE PARTIES

The principal activity of the Company is investment holding. The Company’s subsidiaries are principally engaged in the business of cruise and cruise related operations and leisure, entertainment and hospitality activities. The Group together with its jointly controlled entities currently has a combined fleet of 17 vessels with approximately 30,000 lower berths with one additional vessel due to be delivered by 2010.

Select Gain is a wholly owned subsidiary of the Company incorporated in the British Virgin Islands with limited liability, and its principal activity is investment holding.

Union Bank is a licensed commercial bank engaged in banking business in Sri Lanka under a banking license issued by the Central Bank of Sri Lanka.

Based on the consolidated financial statements of Union Bank for the year ended 31 December 2009, the audited net profits before taxation for the two financial years ended 31 December 2008 and 2009 were LKR112 million and LKR180 million respectively and the audited net profit after taxation for the two financial years ended 31 December 2008 and 2009 were LKR23 million and LKR62 million respectively. The shareholders’ funds of Union Bank as at 31 December 2009 were approximately LKR1.6 billion.
C. REASONS FOR, AND BENEFITS OF, THE SUBSCRIPTION

In view of the booming economy in Sri Lanka after the end of its civil war, the Board believes that the Subscription is an attractive investment in a potentially high growth industry. It also provides foothold for the Company to look at other lucrative projects in this newly emerging market.

The terms of the Subscription Agreement, including but not limited to the Subscription Price, were arrived at after arm's length negotiation between the parties to the Subscription Agreement. The Board (including the Independent Non-executive Directors) is of the view that the terms of the Subscription Agreement are on normal commercial terms, fair and reasonable and in the interests of the Company and its shareholders as a whole.

D. LISTING RULES IMPLICATIONS

On 30 April 2010, Vista Knowledge, a wholly-owned subsidiary of GENT entered into a subscription agreement with Union Bank in relation to the subscription for shares in Union Bank by Vista Knowledge. After the completion of the subscription for shares in Union Bank by Vista Knowledge, GENT will, through Vista Knowledge, hold approximately 20.38% shareholding interest in Union Bank and will become a substantial shareholder of Union Bank. Tan Sri Lim Kok Thay is the Chairman, Executive Director and Chief Executive Officer of the Company, and thus a controller of the Company under Rule 14A.10(3) of the Listing Rules. As Tan Sri Lim Kok Thay is also the Chairman and Chief Executive and a shareholder of GENT, GENT is an associate of Tan Sri Lim Kok Thay. Accordingly, the Subscription, being the subscription by Select Gain of shares in a company of which a substantial shareholder is an associate of a controller of the Company (i.e. GENT), will constitute a connected transaction for the Company pursuant to Rule 14A.13(1)(b)(i) of the Listing Rules. For the reasons stated above, Tan Sri Lim Kok Thay is considered as interested in the Subscription and he abstained from voting on the relevant board resolutions.

Save as disclosed above and to the best of the Directors' knowledge, information and belief having made all reasonable enquiry, Union Bank and other shareholders of Union Bank are third parties independent of the Company and its connected persons.

pharoah88 ( Date: 28-Oct-2010 09:11) Posted:

please do a fUll estImatIOn, InclUdIng STAR CRUISE

and SHARE It wIth Us here.

THANKS

x 0

天长地久

Invest Fair 2010 Marina Bay Sands

Floor audience asked about GENTING SP and GENTING HK, TOP Speakers Panel declared that it was very difficult to comment on the GENTING TWINS as they have their very own UNIQUE PERSONALITIES [DNAs].

CIMB is the only one who specialises in GENTING TWINS.

It had conducted its own separate briefings for GENTING SP and GENTING HK.

There will be GRAND PRESENTATION on Saturday: 6 November 2010

REGIONAL GAMING SEACTOR OUTLOOK [06 11 2010]

DBS Auditorium Level 3

GENTING SP AGM 2010 and EGM 2010 at RWS

Big group of PIONEER GENTING shareholders were there loyally holding on to GENTING shares through thick and thin for more than 30 years.

They proclaimed that GENTING is GENTING and there is nothing comparable.

Even though the dividend had never been attractive or even not a consideration, they still go for GENTING LONG LONG LONG.

Since Day One till now, great majority of analysts were ALL WRONGS and MORE WRONGS.

I had met several investors who attended paid public investor seminars held by individual analysts who cautiously advised them to STAY CLEAR of GENTING SP at S$0.33, at S$0.68 ........ and some were even warned to NEVER TOUCH GENTING SP.

NOW, they ALL regretted that they had mIssed theIr FORTUNES.

GENTING TWINS have their own KARMA and so do their management as well as their shareholders.

It takes the PIONEERS mOre than 3 DECADES to knOw GENTING

AnthonyTan ( Date: 28-Oct-2010 13:12) Posted:

According to UOBKH, the fair price is US$0.40.

x 0

Does it mean Genting HK also has a bank in Sri Lanka ? How many % is it ? Quite similar to Jardine C&C which has stake in Indo bank.

x 0

About 290,000 results (0.15 seconds)

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x 0

x 0

According to UOBKH, the fair price is US$0.40.

x 0

Thursday: 28 10 2010 mId-nOOn

tImIng nOt rIpe yet ?

e Genting HK US$ (S21)

Day Hi 0.465 Last 0.460 Vol 14,021,000

Day Lo 0.455 $Chng +0.010

Price Trades Volume Sold to Buyer Mid Bought from Seller

0.455 2 148,000 148,000 0 0

0.460 170 13,594,000 8,877,000 0 4,717,000

0.465 11 279,000 0 0 279,000

TOTAL 183 14,021,000 9,025,000 0 4,996,000

12:14:48

0.460

1,305,000

Bought From Seller

12:10:11

0.460

1,638,000

Sold To Buyer

08:59:02

0.460

1,408,000

Sold To Buyer

x 0

I BELIEVE IT IS NOT LISTED.

YES, THIS BANK IS MAKING PROFIT. CHECK THEIR WEBSITE.

x 0

Is UNION BANK listed in SRI LANKA Stock Exchange ?

Last Saturday, at Standard Chartered Bank's Shangrila Breakfast Talk on Global Market Outlook,

SCB Director said SRI LANKA stocks are doing very well.

tradermonster ( Date: 28-Oct-2010 11:36) Posted:

How about 20.38% in Union Bank of Colombo Limited at Sri Lanka?

B. INFORMATION ABOUT THE PARTIES

The principal activity of the Company is investment holding. The Company’s subsidiaries are principally engaged in the business of cruise and cruise related operations and leisure, entertainment and hospitality activities. The Group together with its jointly controlled entities currently has a combined fleet of 17 vessels with approximately 30,000 lower berths with one additional vessel due to be delivered by 2010.

Select Gain is a wholly owned subsidiary of the Company incorporated in the British Virgin Islands with limited liability, and its principal activity is investment holding.

Union Bank is a licensed commercial bank engaged in banking business in Sri Lanka under a banking license issued by the Central Bank of Sri Lanka.

Based on the consolidated financial statements of Union Bank for the year ended 31 December 2009, the audited net profits before taxation for the two financial years ended 31 December 2008 and 2009 were LKR112 million and LKR180 million respectively and the audited net profit after taxation for the two financial years ended 31 December 2008 and 2009 were LKR23 million and LKR62 million respectively. The shareholders’ funds of Union Bank as at 31 December 2009 were approximately LKR1.6 billion.
C. REASONS FOR, AND BENEFITS OF, THE SUBSCRIPTION

In view of the booming economy in Sri Lanka after the end of its civil war, the Board believes that the Subscription is an attractive investment in a potentially high growth industry. It also provides foothold for the Company to look at other lucrative projects in this newly emerging market.

The terms of the Subscription Agreement, including but not limited to the Subscription Price, were arrived at after arm's length negotiation between the parties to the Subscription Agreement. The Board (including the Independent Non-executive Directors) is of the view that the terms of the Subscription Agreement are on normal commercial terms, fair and reasonable and in the interests of the Company and its shareholders as a whole.

D. LISTING RULES IMPLICATIONS

On 30 April 2010, Vista Knowledge, a wholly-owned subsidiary of GENT entered into a subscription agreement with Union Bank in relation to the subscription for shares in Union Bank by Vista Knowledge. After the completion of the subscription for shares in Union Bank by Vista Knowledge, GENT will, through Vista Knowledge, hold approximately 20.38% shareholding interest in Union Bank and will become a substantial shareholder of Union Bank. Tan Sri Lim Kok Thay is the Chairman, Executive Director and Chief Executive Officer of the Company, and thus a controller of the Company under Rule 14A.10(3) of the Listing Rules. As Tan Sri Lim Kok Thay is also the Chairman and Chief Executive and a shareholder of GENT, GENT is an associate of Tan Sri Lim Kok Thay. Accordingly, the Subscription, being the subscription by Select Gain of shares in a company of which a substantial shareholder is an associate of a controller of the Company (i.e. GENT), will constitute a connected transaction for the Company pursuant to Rule 14A.13(1)(b)(i) of the Listing Rules. For the reasons stated above, Tan Sri Lim Kok Thay is considered as interested in the Subscription and he abstained from voting on the relevant board resolutions.

Save as disclosed above and to the best of the Directors' knowledge, information and belief having made all reasonable enquiry, Union Bank and other shareholders of Union Bank are third parties independent of the Company and its connected persons.

pharoah88 ( Date: 28-Oct-2010 09:11) Posted:

please do a fUll estImatIOn, InclUdIng STAR CRUISE

and SHARE It wIth Us here.

THANKS

x 0

yes.. the number of star cruise and union bank are unknown..

no clue from its previous financial report.. anyone can help to give estimate?

chart wise.. 0.475 is the price to watch..

tradermonster ( Date: 28-Oct-2010 11:36) Posted:

How about 20.38% in Union Bank of Colombo Limited at Sri Lanka?

B. INFORMATION ABOUT THE PARTIES

The principal activity of the Company is investment holding. The Company’s subsidiaries are principally engaged in the business of cruise and cruise related operations and leisure, entertainment and hospitality activities. The Group together with its jointly controlled entities currently has a combined fleet of 17 vessels with approximately 30,000 lower berths with one additional vessel due to be delivered by 2010.

Select Gain is a wholly owned subsidiary of the Company incorporated in the British Virgin Islands with limited liability, and its principal activity is investment holding.

Union Bank is a licensed commercial bank engaged in banking business in Sri Lanka under a banking license issued by the Central Bank of Sri Lanka.

Based on the consolidated financial statements of Union Bank for the year ended 31 December 2009, the audited net profits before taxation for the two financial years ended 31 December 2008 and 2009 were LKR112 million and LKR180 million respectively and the audited net profit after taxation for the two financial years ended 31 December 2008 and 2009 were LKR23 million and LKR62 million respectively. The shareholders’ funds of Union Bank as at 31 December 2009 were approximately LKR1.6 billion.
C. REASONS FOR, AND BENEFITS OF, THE SUBSCRIPTION

In view of the booming economy in Sri Lanka after the end of its civil war, the Board believes that the Subscription is an attractive investment in a potentially high growth industry. It also provides foothold for the Company to look at other lucrative projects in this newly emerging market.

The terms of the Subscription Agreement, including but not limited to the Subscription Price, were arrived at after arm's length negotiation between the parties to the Subscription Agreement. The Board (including the Independent Non-executive Directors) is of the view that the terms of the Subscription Agreement are on normal commercial terms, fair and reasonable and in the interests of the Company and its shareholders as a whole.

D. LISTING RULES IMPLICATIONS

On 30 April 2010, Vista Knowledge, a wholly-owned subsidiary of GENT entered into a subscription agreement with Union Bank in relation to the subscription for shares in Union Bank by Vista Knowledge. After the completion of the subscription for shares in Union Bank by Vista Knowledge, GENT will, through Vista Knowledge, hold approximately 20.38% shareholding interest in Union Bank and will become a substantial shareholder of Union Bank. Tan Sri Lim Kok Thay is the Chairman, Executive Director and Chief Executive Officer of the Company, and thus a controller of the Company under Rule 14A.10(3) of the Listing Rules. As Tan Sri Lim Kok Thay is also the Chairman and Chief Executive and a shareholder of GENT, GENT is an associate of Tan Sri Lim Kok Thay. Accordingly, the Subscription, being the subscription by Select Gain of shares in a company of which a substantial shareholder is an associate of a controller of the Company (i.e. GENT), will constitute a connected transaction for the Company pursuant to Rule 14A.13(1)(b)(i) of the Listing Rules. For the reasons stated above, Tan Sri Lim Kok Thay is considered as interested in the Subscription and he abstained from voting on the relevant board resolutions.

Save as disclosed above and to the best of the Directors' knowledge, information and belief having made all reasonable enquiry, Union Bank and other shareholders of Union Bank are third parties independent of the Company and its connected persons.

pharoah88 ( Date: 28-Oct-2010 09:11) Posted:

please do a fUll estImatIOn, InclUdIng STAR CRUISE

and SHARE It wIth Us here.

THANKS

x 0

How about 20.38% in Union Bank of Colombo Limited at Sri Lanka?

B. INFORMATION ABOUT THE PARTIES

The principal activity of the Company is investment holding. The Company’s subsidiaries are principally engaged in the business of cruise and cruise related operations and leisure, entertainment and hospitality activities. The Group together with its jointly controlled entities currently has a combined fleet of 17 vessels with approximately 30,000 lower berths with one additional vessel due to be delivered by 2010.

Select Gain is a wholly owned subsidiary of the Company incorporated in the British Virgin Islands with limited liability, and its principal activity is investment holding.

Union Bank is a licensed commercial bank engaged in banking business in Sri Lanka under a banking license issued by the Central Bank of Sri Lanka.

Based on the consolidated financial statements of Union Bank for the year ended 31 December 2009, the audited net profits before taxation for the two financial years ended 31 December 2008 and 2009 were LKR112 million and LKR180 million respectively and the audited net profit after taxation for the two financial years ended 31 December 2008 and 2009 were LKR23 million and LKR62 million respectively. The shareholders’ funds of Union Bank as at 31 December 2009 were approximately LKR1.6 billion.
C. REASONS FOR, AND BENEFITS OF, THE SUBSCRIPTION

In view of the booming economy in Sri Lanka after the end of its civil war, the Board believes that the Subscription is an attractive investment in a potentially high growth industry. It also provides foothold for the Company to look at other lucrative projects in this newly emerging market.

The terms of the Subscription Agreement, including but not limited to the Subscription Price, were arrived at after arm's length negotiation between the parties to the Subscription Agreement. The Board (including the Independent Non-executive Directors) is of the view that the terms of the Subscription Agreement are on normal commercial terms, fair and reasonable and in the interests of the Company and its shareholders as a whole.

D. LISTING RULES IMPLICATIONS

On 30 April 2010, Vista Knowledge, a wholly-owned subsidiary of GENT entered into a subscription agreement with Union Bank in relation to the subscription for shares in Union Bank by Vista Knowledge. After the completion of the subscription for shares in Union Bank by Vista Knowledge, GENT will, through Vista Knowledge, hold approximately 20.38% shareholding interest in Union Bank and will become a substantial shareholder of Union Bank. Tan Sri Lim Kok Thay is the Chairman, Executive Director and Chief Executive Officer of the Company, and thus a controller of the Company under Rule 14A.10(3) of the Listing Rules. As Tan Sri Lim Kok Thay is also the Chairman and Chief Executive and a shareholder of GENT, GENT is an associate of Tan Sri Lim Kok Thay. Accordingly, the Subscription, being the subscription by Select Gain of shares in a company of which a substantial shareholder is an associate of a controller of the Company (i.e. GENT), will constitute a connected transaction for the Company pursuant to Rule 14A.13(1)(b)(i) of the Listing Rules. For the reasons stated above, Tan Sri Lim Kok Thay is considered as interested in the Subscription and he abstained from voting on the relevant board resolutions.

Save as disclosed above and to the best of the Directors' knowledge, information and belief having made all reasonable enquiry, Union Bank and other shareholders of Union Bank are third parties independent of the Company and its connected persons.

pharoah88 ( Date: 28-Oct-2010 09:11) Posted:

please do a fUll estImatIOn, InclUdIng STAR CRUISE

and SHARE It wIth Us here.

THANKS

kgaihc ( Date: 28-Oct-2010 09:01) Posted:

haiz.. this website

http://business-loan.myxnote.com/2957-genting-hk-result-estimation.php

steal my blog content:

http://ainvestor.blogspot.com/2010/10/genting-hk-result-estimation.html

x 0

Wednesday: 27 10 2010 ~~~~~~~~ SUNDAY: 31 10 2010

HALLOWEEN CARNIVAL

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Genting Hong Kong Limited's Joint Controlled Entity Files Registration Statement US Securities And Exchange Commission
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Genting Hong Kong Limited Does Not Declare Dividend
Sunday, 29 Aug 2010 07:02am EDT

Genting Hong Kong Limited's Vista Knowledge Announces Subscription For Shares In Union Bank Of Colombo Limited
Tuesday, 8 Jun 2010 07:22am EDT

Genting Hong Kong Limited Does Not Recommend Final Dividend
Thursday, 25 Mar 2010 08:13am EDT

Gentling Hong Kong Limited's Subsidiary Enters Into Loan Agreement Of USD150 Million
Thursday, 11 Feb 2010 06:58pm EST