KUALA LUMPUR (April 18): While Malaysia is not at the top of most Chinese tourists’ minds, the AirAsia Group is very popular in China, according to investment bank Maybank. In a note last week (April 13), analyst Yin Shao Yang said that actual travel from China to Malaysia ranks 8th in the 1H23 top 10 Chinese outbound departures relative to 2019 list despite not being in the top 10 preferred Chinese outbound destinations list of any survey.
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THE stakes are getting higher for Genting Malaysia Bhd (GenM) following its foray into Empire Resort Inc in the US. The company has invested US$624.4 million (RM2.74 billion) in its 49%-owned Empire over the last four years. GenM’s latest exercise announced last week will see it invest another US$100 million in convertible preferred stocks issued by Empire. With the latest investment, its stake in Empire will increase to 76.3% if the convertible instruments are not redeemed. The New York-based gaming company has until 2030 to redeem the convertibles.