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the concession agreement stated that OPM could revise its charge rate every 5 years with minimum increase of 13%. the current charge rate has not been reviewed since 2019. should UIMB refused to honor this, it leaves no room for Bintai but legal suit again
the settlement isnt confirmed as that is only a proposal by UIMB which has been delaying its debt settlement from March 2026 to Jan 2027 to now Dec 2028. this negotiation has been ongoing since 2023. come Dec 2028, nothing is stopping UIMB from postponing again of its debt settlement as it has been doing so for multiple times. now the next deadline is end Sept 2026 for new charge rate.
on paper, things seem working and NY casino is generating higher revenue and income but on the share price and market capitalization, he managed to pull it down until back in the 90's price. if not for privatization purpose, really no idea what is brewing.
imagine the boss offers rm3 for genting shares now as part of his privatization. a share that worth around rm8 being offered at rm3, would you sell to him?
UIMB trying to extend settlement to Dec 2028. keep delaying again and again. it now depends if Bintai wanna to take legal action after end Sept since UIMB willing to negotiate the new charge rate by then.
seem quiet. if good news, should have started trading with high volume. seem no high trading or speculation from the market. probably nothing would be announced or got delayed or postponed by UIMB again.
