KUALA LUMPUR: Genting Malaysia Bhd staged a recovery in early trade Wednesday, as the heavy selling pressure seemed to have abated. It is currently the third most active counter with over 34 million shares done. Genting Bhd rose 12 sen, or 1.78% to RM6.86 with 2.59 million shares traded. On Monday, Genting Malaysia saw its share price tumbled in a knee-jerk reaction to the new casino tax under Budget 2019. Finance Minister Lim Guan Eng said during Malaysia's Budget 2019 tabling on Friday the country will raise the annual casino licence fee from RM120mil to RM150mil.

Source: thestar November 07, 2018 02:03 UTC