- Genting Bhd has acquired NanoMR, Inc for US$24mil (RM85.4mil). The principal activities of NanoMr are to carry out research and development on technologies for genetic analysis and sequencing.

- We do not know if Tan Sri Lim Kok Thay is a director or shareholder of NanoMR.

- We are neutral on this development as it is not sizeable and would not affect Genting Bhd’s bottomline significantly.

- Apart from leisure and hospitality activities, Genting Bhd has been venturing into other businesses.

- In November 2012, Genting Bhd took up a 20% stake in a pharmaceutical company called TauRx Pharmaceuticals Ltd for US$111.8mil.

- In 2010, Genting Bhd invested 20% in Union Bank of Colombo, Sri Lanka.

- It appears that this time around, Genting Bhd is venturing into gene sequencing. This is not entirely new as Genting Plantations’ biotechnology division is involved in the sequencing of the palm oil gene.

- Maintain HOLD on Genting Bhd with an unchanged fair value of RM10.35/share.

Source: AmeSecurities