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2022-03-31 07:06 | Report Abuse
Genting among frontrunners for casino licence in New York – report
Surin Murugiah
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theedgemarkets.com
March 31, 2022 06:22 am +08
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KUALA LUMPUR (March 31): Malaysia’s Genting Group is seen among the frontrunners for a casino licence in the New York area, according to The New York Times (NYT).
In a report Wednesday (March 30), NYT said that in the next several days, as part of state budget negotiations, Governor Kathy Hochul and legislative leaders may hash out a deal that could authorise three casino licenses for the New York City area.’
It said many lawmakers and lobbyists in Albany believe that two of the licenses are likely to be awarded to Genting and MGM Resorts, which operate the two so-called racinos — horse racetracks that have been refashioned as casino-like properties, albeit without games like blackjack or roulette — in Yonkers and Queens, which already employ thousands of union members.
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NYT said gambling companies are spending roughly US$300,000 a month on a lobbying blitz to push the state to fast-track the timetable for New York’s final three casino licenses, and to influence the decision on where the casinos will be located, and who gets to operate them.
It said casino interests argue that New York is losing out on tax revenue from New Yorkers gambling in neighboring states by waiting until 2023 to allow casinos downstate, as an amendment to the State Constitution passed in 2013 dictates.
Hochul, who was endorsed by the Hotel and Gaming Trades Council in her run for a full term, is pushing to include a provision in the state budget to expedite the licenses.
NYT said Senate Democrats have also embraced the idea, and proposed that operators pay a minimum of US$1 billion for each license, a potential boon for state coffers. But it remains unclear if the final budget, due April 1, will include a minimum licensing fee.
The report said the influential union representing hotel workers has been coordinating with some casino operators, arguing that new casinos in and around New York City — and particularly at existing electronic games facilities in Yonkers and in Queens — would lead to the employment of thousands of hotel workers who lost their jobs when the pandemic undercut the tourism industry.
About 37,000 workers represented by the recently renamed Hotel and Gaming Trades Council, or 95 percent of its members, were laid off at the height of the pandemic, according to the union. Today, nearly 10,000 of its workers remain unemployed, the union said.
Genting Group, which runs the Resorts World slot machine parlor in Queens, is now the union’s biggest employer.
“These are jobs that pay US$36 an hour, have free family health care and have a pension plan,” said Richard Maroko, the current union president, was quoted as saying.
“So they are in dire straits because many of them have been out of work for two years without any immediate prospect of comparable employment.”
Resorts World has invested in a public-relations campaign — New Yorkers for Responsible Gaming — that highlights how hotel workers would stand to gain from new casinos.
It is being run by Neal Kwatra, a political consultant that also does work for the union. The hotel union has continued to exert its sway in Albany: It has steered at least US$880,000 in campaign contributions to Democrats in Albany since 2020, according to campaign disclosure reports.
The 2013 constitutional amendment legalized up to seven full-fledged casinos — rather than just electronic games, of the sort that populate Genting’s Resorts World Casino at Aqueduct in Queens and MGM Resorts’s Empire City Casino in Yonkers.
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2022-01-09 11:54 | Report Abuse
Omicron may spell pandemic’s end, predicts medical expert from Thailand
THAILAND
Saturday, 08 Jan 2022
9:27 PM MYT
Dr Manoon Leechawengongs, a respiratory expert with Bangkok’s Vichaiyut Hospital. - The Nation Thailand/ANN
BANGKOK, Jan 8 (The Nation Thailand/ANN): The Omicron variant may be an indication that the Covid-19 pandemic will come to an end within this year, a respiratory expert with Bangkok’s Vichaiyut Hospital has predicted.
In a Facebook post, Dr Manoon Leechawengongs pointed out that the Omicron variant has mutated significantly from the original coronavirus and its impact is far milder.
“Omicron is proof of a virus’ nature, in that it adapts itself by producing milder symptoms so it does not kill the host and can live inside them for as long as it can,” he said.
“Sooner or later, most people will be infected with the Omicron variant regardless of their ethnicity, sex or age.
“Dr Wasan [Chantrathit, chief of Ramathibodi Hospital’s Centre for Medical Genomics] and I agree that as more people get vaccinated against Covid-19, we will achieve herd immunity against the virus, causing the pandemic to come to an end this year,” Manoon said.
“Thanks to Omicron, Covid-19 will eventually become an endemic infection, with young children getting it every year.”
An endemic infection is one that is constantly present to a greater or lesser degree in people of a certain class or living in a particular location.
“Since Omicron produces milder symptoms than the Delta variant, vaccinated people who get it will mostly suffer from symptoms that are no different than a common cold,” he added.
“However, I strongly advise those in risky groups, such as seniors, pregnant women and people with underlying health problems to get vaccinated as soon as they can. If you have already had two shots, get a booster before most people in the country are infected by the Omicron variant in the next month or two.”
The World Health Organisation (WHO), however, on Thursday warned against categorising the Omicron variant as mild, saying it was killing people across the planet.
“While Omicron does appear to be less severe compared to Delta, especially in those vaccinated, it does not mean it should be categorised as mild,” WHO chief Tedros Adhanom Ghebreyesus was quoted as saying by AFP. - The Nation Thailand/ANN
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2022-01-05 22:30 | Report Abuse
Omicron may have peaked or ‘plateaued’ in parts of the world, giving experts cause for optimism
PUBLISHED WED, JAN 5 20224:29 AM ESTUPDATED AN HOUR AGO
KEY POINTS
In a matter of weeks, the Covid omicron variant that was first detected in November has surged around the world.
There are early, tentative signs that the omicron wave has peaked, or is plateauing, in the places that were among the first to be hit hard by the strain.
The U.S. and Europe have been rolling out booster shots as fast as they can following research that the extra doses significantly increase the level of protection against the variant.
Health workers at Steve Biko Academic Hospital on January 19, 2021 in Pretoria, South Africa. South Africa is currently battling a second wave of the COVID-19 pandemic.
Health workers at Steve Biko Academic Hospital on Jan. 19, 2021 in Pretoria, South Africa.
Gallo Images | Gallo Images | Getty Images
In a matter of weeks, the Covid-19 omicron variant — first detected in South Africa and Botswana in November — has surged around the world, leading to millions of new cases and the reimposition of coronavirus restrictions in many countries.
The U.S. and Europe have been rolling out booster shots as fast as they can following research findings by Covid vaccine makers Pfizer-BioNTech and Moderna that the omicron variant undermines the effectiveness of the standard two doses of their Covid shots, but that booster shots significantly increase the level of protection against the strain.
Nonetheless, cases in both regions have soared, with the U.S. reporting more than 1 million new daily Covid cases on Monday, and the U.K. and France also among those reporting staggering numbers of daily infections, upward of 200,000 a day in recent tallies. Hospitalizations are also steadily rising in affected countries, although admissions and deaths remain far below previous peaks.
As well as an increasing body of evidence suggesting that omicron causes less serious disease than its predecessors, experts are cautiously optimistic that while the omicron wave is proving to be sharper than those associated with previous variants, it could also be shorter.
South Africa believes its omicron wave has peaked, for example, and London — where omicron cases surged in December before the variant really took hold in the rest of Europe — may be seeing cases starting to plateau, according to experts, fueling hope that the wave could soon peak elsewhere, too.
Omicron ‘may have passed the peak’
South Africa’s government issued a statement on Dec. 30 in which it said that the country’s Department of Health had reported a 29.7% decprease in the number of new cases detected in the week ended Dec. 25 (89,781 cases), compared with the number of new cases detected in the previous week (127,753).
“All indicators suggest the country may have passed the peak of the fourth wave at a national level,” the statement said, with cases declining in all provinces except the Western Cape and Eastern Cape, which recorded increases of 14% and 18%, respectively.
Nonetheless, there has been a decline in hospital admissions in all provinces except the Western Cape, the statement added, noting that admissions had been generally lower with the omicron variant.
“While the omicron variant is highly transmissible, there has been lower rates of hospitalisation than in previous waves. This means that the country has a spare capacity for admission of patients even for routine health services. There is a marginal increase in the number of deaths in all the provinces.”
‘Flash flood’ of infections
Global experts have been watching South Africa’s Covid data closely, as it was among the first countries to detect the omicron variant and to alert the World Health Organization, which designated the heavily mutated strain a “variant of concern” on Nov. 26.
Real-world studies from South Africa and the U.K. suggest that people infected with omicron develop milder illness compared with the previously globally dominant delta variant. Omicron is far more transmissible, however, meaning that a larger number of cases could translate into more pressure on health services.
When omicron was first detected by doctors in South Africa, they observed that their patients appeared to be experiencing milder illnesses more akin to a cold than the flu, symptoms of which were associated with earlier strains of Covid. South African doctors also found that most people hospitalized with omicron had been admitted to the hospital for other reasons and did not require oxygen.
Another study published in the International Journal of Infectious Diseases on Dec. 28 suggested that the omicron wave of hospital admissions in Tshwane (a city in South Africa’s Gauteng province where omicron cases surged in December) had peaked “within 4 weeks of its commencement. Ho
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2021-09-21 17:00 | Report Abuse
Genting Highlands, Pulau Tioman and Melaka shortlisted for proposed travel bubbles, says Nancy Shukri
By TARRENCE TAN and JOSEPH KAOS JR
NATION
Tuesday, 21 Sep 2021
4:51 PM MYT
KUALA LUMPUR: Following the success of the travel bubble in Langkawi, domestic tourism will soon be allowed at three new destinations - Melaka, Pulau Tioman and Genting Highlands, says Datuk Seri Nancy Shukri.
The Tourism, Arts and Culture Minister said the proposed three new destinations were deliberated in the Second Ministerial Quartet Meeting on Covid-19 on Tuesday (Sept 21) and it will be brought to the Special Committee on Pandemic Management chaired by Prime Minister Datuk Seri Ismail Sabri Yaakob on Thursday (Sept 23).
"We have identified these three locations and two weeks will be given so that these tourist destinations can take the necessary preparations to re-operate again," she said during a press conference at Parliament House on Tuesday.
At the same time, Nancy said there are plans to allow these three locations to tentatively reopen again in October, and SOPs will be further deliberated by the authorities.
"More destinations will be added. Not just islands," she hinted.
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2021-09-08 08:40 | Report Abuse
Genting Group joins bid for digital banking licence via PUC
Adam Aziz
/
theedgemarkets.com
September 08, 2021 08:30 am +08
Genting Group joins bid for digital banking licence via PUC
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KUALA LUMPUR (Sept 8): Genting Plantations Bhd, the plantation arm of the Genting Group, is slated to become a 10% shareholder of PUC Bhd, which has recently formed a consortium to bid for a digital banking licence under Bank Negara Malaysia (BNM).
In a filing with Bursa Malaysia, PUC said that it has entered into conditional subscription agreements with three companies in relation to its proposed private placement of 375.06 million new shares at 12.5 sen per share, to raise RM46.88 million.
PUC's share price was unchanged at 16.5 sen on Tuesday, valuing the company at RM197.46 million.
The three companies that are buying the new shares are GPVF Sdn Bhd, Matrix Edge Venture Sdn Bhd (MEV), and KH Lim Capital Sdn Bhd (KHLC), the filing showed.
GPVF, which is subscribing 162.53 million shares for RM20.31 million, is a wholly-owned unit of Kenyalang Borneo Sdn Bhd — which is in turn a wholly-owned unit of Genting Plantations, according to the plantation group's annual report.
In late July, PUC announced that it had formed a consortium with Sabah and Pahang state governments to bid for one of five digital banking licences to be granted by BNM in the first quarter of next year. It is understood that both state governments will each have 20% in the consortium.
GPVF's entry into PUC is seen as a part of a plan by the Genting Group to get a piece of the action in the Malaysian digital bank space. It is believed that Genting Digital Sdn Bhd, a wholly-owned unit of Genting Malaysia Bhd, is also likely to take up a direct stake in the digital bank consortium.
MEV meanwhile is a company whose shareholders comprise Chai Hann Lin (40%), Sabah-based Borneo Armor Sdn Bhd, and Datuk Seri Adnan Wan Mamat (40%), who is also a director of a subsidiary of the Royale Pahang Durian Group.
MEV is subscribing to 125.02 million PUC shares, representing 7.69% of the company's enlarged share capital.
KHLC, whose shareholders are Datuk Anthony Lim Kim Hai of the KH Lim Group (80%) and Yap Choon Fong (20%), is subscribing to 87.51 million shares or 5.38% in PUC post-issuance.
The subscription exercise is conditional on the approval of minority shareholders at an upcoming extraordinary general meeting.
PUC plans to utilise the proceeds for potential acquisitions or investments (32%), upgrading of PUC's Presto Digital platform software (21.3%), marketing for Presto Digital (10.6%) and working capital (35%).
After a 2020 streamlining exercise, PUC currently has two business segments, namely media, advertising and digital imaging businesses, as well as the Presto platform businesses comprising e-commerce and digital payment services. The group is also exploring opportunities in food delivery, and digital moneylending business, it said.
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2021-09-03 17:18 | Report Abuse
Khairy: Give us more time before interstate travel is allowed
By JOSEPH KAOS JR
NATION
Friday, 03 Sep 2021
4:56 PM MYT
PUTRAJAYA: Health Minister Khairy Jamaluddin has called for patience from the public before interstate travel can be allowed.
Khairy said the ministry has drawn up standard operating procedures (SOP) for interstate travel, but it cannot be implemented as there are many states that are still behind in their vaccination programme.
“I have discussed this matter with Health director-general Tan Sri Dr Noor Hisham Abdullah, and we have landed on a recommendation.
“We will present this to the National Security Council (NSC) soon.
“It is all there, but just give us a bit more time.
“You all know that as soon as you open the borders, it’s asking for trouble. We all know this. So, I ask for just a bit more time, just be patient,” said Khairy, during a media interview at his ministry on Thursday (Sept 3).
Khairy hinted that interstate travel could be allowed after all states have completed vaccinating at least 60% of their adult population.
“There are some states that are still behind on their vaccination numbers. By the end of September, all states are expected to have 60% of fully vaccinated adults.
“So, give it a bit more time,” said Khairy.
Currently, the country’s Covid-19 SOP still does not allow non-essential travel between states.
At present, only the Klang Valley, Labuan, Sarawak, Negri Sembilan, Perlis and Melaka have fully vaccinated 60% of their adults.
The other states are still between 41.5% to 59%.
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2021-07-16 00:56 | Report Abuse
Looking forward to the economy sectors to open up once we achieve herd immunity. Rakyat are suffering at the moment. Don’t only think of casino.
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2021-07-12 18:48 | Report Abuse
Totally agreeable with Stocksafeplayer
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2021-07-12 17:18 | Report Abuse
Those who wish, hope & even predict that covid19 cases will rise are black hearted persons. They will repent one day when covid19 strike them or their loved ones.
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2021-07-12 09:09 | Report Abuse
getting sooner & sooner to herd immunity
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2021-07-11 09:23 | Report Abuse
Good , more negative news will make us more united in getting rid of covid19. More pls
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2021-07-01 12:20 | Report Abuse
Yes, totally agree. Only ikan bilis lose. TG & Tan Sri gain billions compared to pre pandemic
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2021-07-01 10:09 | Report Abuse
Never wish for a spike in cases. Beware of karma
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Stock: [GENTING]: GENTING BHD
2022-07-05 15:24 | Report Abuse
Recession is an opportunity