MACC unfreezes Arul Kanda's bank, CDS accounts

KUALA LUMPUR (Aug 21): The Malaysian Anti-Corruption Commission (MACC) has unfrozen all seven bank accounts and two Central Depository System (CDS) accounts belonging to former 1Malaysia Development Bhd (1MDB) president and chief executive officer Arul Kanda Kandasamy (pictured).

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Genting Malaysia unit inks merger agreement to delist Empire Resorts

KUALA LUMPUR (Aug 20): Genting Malaysia Bhd (GenM) said today its indirect wholly-owned subsidiary Genting (USA) Ltd (GenUSA) has acquired a 49% stake in joint venture company (JVCo) Hercules Topco LLC, which will hold all outstanding shares in Empire Resorts Inc under Empire's planned delisting from the US stock market.

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Hotels facing headwinds

Visit Malaysia Year 2020 (VMY2020) is around the corner, but the hospitality sector does not have high hopes that it will be a key performance driver for the sector.

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