Genting Singapore, the Malaysian controlled company building one of two casino resorts in the island state, yesterday announced a S$1.63bn (US$1.14bn) rights issue aimed at shoring up its balance sheet and possible acquisitions.
The company, a subsidiary of the Genting gaming group of Malaysia, sought to dampen rumours that its Resorts World development at Sentosa was significantly over budget, saying its costs were on track and it would open on schedule early next year.
