Genting Malaysia Bhd, a casino and hotel operator, was upgraded to 'hold' from 'fully valued' at HwangDBS Vickers Research Sdn Bhd after getting the final approval to operate video lottery facilities in New York City.
The stock's fair value was raised to RM3.40 from RM2.50, HwangDBS said in a report today.
The New York project is expected to boost Genting Malaysia's 2011-2012 financial year earnings by 5 to 19 per cent, the research house said. -- Bloomberg
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