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Malaysia’s Genting, a gaming company facing high debt and declining profits, saw its shares drop by up to 17 percent on Friday, the largest decline since 1998. The stock price fell to 1.56 ringgit as part of an announced rights issue aimed at raising funds through discounted share sales, with proceeds intended for debt repayment and working capital needs. As of June, Genting’s total borrowings stood at 45.3 billion ringgit, up from previous levels, contributing to the company's financial struggles.
Written locally by qwen2.5:14b on 2026-10-12,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Shares in Malaysia’s Genting, a major gaming company, fell by up to 17 percent to 1.56 ringgit on Friday, marking the biggest decline since 1998. The drop comes after Genting announced plans for a rights issue to raise funds at a discount of between 25 and 30 percent. These measures are aimed at repaying debt and funding working capital, as the company faces increasing debt—total borrowings reached 45.3 billion ringgit by end-June—and declining profitability. Analysts from Maybank Investment Bank warn that these efforts may lead to minimal interest savings and significant dilution of earnings per share and book value per share.
Written for “Genting Share Decline” on 2026-10-12,
grounded in this article and the 0 other(s) covering the same event.
Shares in Malaysia’s Genting tumble by most in 28 years
The gaming giant, which is grappling with mounting debt and falling profitability, announced fundraising plans through a rights issue
The stock fell as much as 17 per cent to 1.56 ringgit, the biggest decline since 1998.
asserted
stock → tumble → 1998
The issue price would be fixed at a discount ranging between 25 and 30 per cent, Genting said in a bourse filing on Friday, adding that proceeds raised would be used to repay its borrowings and fund working capital.
asserted
proceeds → fix → capital
The fundraising comes as Genting grapples with mounting debt and falling profitability.
asserted
Genting → come → debt
The gaming giant in August reported a net loss for the second quarter, while total borrowings rose to 45.3 billion ringgit as of end June.
asserted
borrowings → report → June
“Our scenario analysis reveals not only minimal interest savings and de-gearing but also marked earnings-per-share and book value per share dilution,” Samuel Yin, an analyst at Maybank Investment Bank, wrote in a report.
asserted
Yin → reveal → report
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