Malaysian company facing several pitfalls
A more than $1bn legal dispute with Walt Disney Co and Fox Entertainment over a planned theme park is capping off a roller coaster of a year for Genting Malaysia, with analysts slashing their forecasts for the group.
Nomura didn’t sugar-coat the pill in a recent report. “There are no two ways to put this - overnight news on the filing of a lawsuit by GENM against defendants Walt Disney Co and 21st Century Fox, for ‘improper termination’ of GENM’s long-anticipated Fox Theme Park (scheduled to open mid 2019), is a big negative for the share price.”
