Genting Malaysia's Outdoor Theme Park in Genting Highlands will be closed for two years to undergo a major facelift. The multi-million-ringgit playground which is one of three amusement parks in the area is expected to close on Sept 1. The Indoor Theme Park and Snow World will remain open. The company is expected to make an announcement next Friday on details on of the closure and refurbishment exercise. (NST)
This news is line with our expectations where in our recent note, we anticipated a disruption to the business as Genting Highlands goes through a major overhaul. In this note upgrading Genting Malaysia we cut our numbers for FY13 and FY14 by 6% but increased our forecast for FY15 by 16% in anticipation of more gaming capacity in this new capex cycle.