Genting Malaysia still in talks with US tribe to recover RM1.77b notes

KUALA LUMPUR (Sept 14): Genting Malaysia Bhd (GENM), which had subscribed to promissory notes issued by the Mashpee Wampanoag Tribe in the US in 2016 for an integrated gaming resort development in the US, said it is still deliberating the appropriate course of action for its investment in the promissory notes, as well as its recoverability.

“This includes a legislation being introduced in the US Congress which, if passed, will entail the US US Department of Interior (DoI) to reaffirm the land in trust for the benefit of the tribe,” GENM said in a filing with Bursa Malaysia today.