Loo, who also owns and runs Pelikan International Corp Bhd as its president and chief executive officer, is best known for his business partnership with Mirzan Mahathir during the 1990s when they had owned Konsortium Logistik Bhd, which was eventually sold off.
PETALING JAYA (Dec 18): Despite being locked in a legal battle worth over US$1 billion (RM4.17 billion) with Walt Disney Co and Twenty-First Century Fox, Genting Malaysia Bhd is confident that its theme park in Genting Highlands will be completed early next year.
Genting Malaysia Bhd's chairman and CEO Tan Sri Lim Kok Thay said the theme park “remains very much part of our plans” and while the group had initially targeted to open the park in January, plans are “all in place”, reported Singaporean publication The Business Times.
Lim added that the theme park is “only a small part” of expansion plans for the Resorts World Genting complex on the hills that sit between Pahang and Selangor, and revenue and visitor numbers have grown in tandem with the rollout of its plans.
To recap, Genting Malaysia had sued Disney and Fox for terminating an agreement for a Fox World theme park.
Genting had alleged that Fox had aborted the deal as Disney sought to avoid associations with a gaming operation as it was incompatible with its family-friendly strategy, a claim both defendants denied.
Disney is in the midst of acquiring Fox for US$71.3 billion.
thats why most people here lose money, because they think of the stock market like a casino instead of a platform to invest in good BUSINESSES. In short, no businessman mindset.
Management of PMB/Press Metal sees a good opportunity and good demand for a new product. And they are good enough to share the prospects of the business with shareholders. They could have easily used their personal money to start the venture.
People who subscribe for the ICULS can exercise at anytime if the prevailing share price of mother is higher than the ICULS subscription price. If it is lower, then just collect the 3% pa and wait to convert to mother when price is better. Even better they can just continue collecting the 3% while waiting for the mother share to increase and get both the 3% and upside of the share price appreciation.
That is not even considering the free warrants yet.
In a nutshell, good deal. It is like a mini IPO, for the company to expand its manufacturing capabilities to a material with high demand and ready offtaker (Press Metal).