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Genting Malaysia Shares Fall as Miami Land Sale Plan Collapses

Genting Malaysia Bhd witnessed a 2% drop in its shares after the proposed sale of its Miami Herald land for US$1.2 billion fell through. The stock closed at RM2.46, reflecting a market capitalisation of RM14.61 billion.

Genting Malaysia announced that the buyer, Smart Miami City LLC, failed to secure an extension and amendments to the sale and purchase agreement, leading to the termination of the deal. Despite the setback, Genting Malaysia remains interested in selling the Miami Herald land and will explore other opportunities while focusing on enhancing its remaining Miami holdings.


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