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$GENTING (3182.MY)$$GENM (4715.MY)$ GenM US unit says RAV Ba...
GenM US unit says RAV Bahamas’ complaint baseless in US$600 mil lawsuit.
(Source:TheEdgeMalaysia)
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趋势所向 : Do you believe that?
103706768 : Just read the news on the edge, small stakeholder not happy with genting bimini losing 100million$ every year and no profit gained, they think genting cook the books. So they sue genting M, but the weird part is the auditor for BB entertainment which manage bimini also think they cannot continue to operate the resort if they keep losing money.
To put it short, genting bimini risk going bankrupt soon, so RAV 22% stakeholder of bimini sue genting M for cooking the books resulting in 100m $ loss every year. Hard to know what will happen in court since bimini management(BB entertainments backer genting america which is the also the defendent) thinks its baseless.
Michael Tan 98 OP 趋势所向 : Of course
102126893 : Only with evidence can charges be brought. Is operating at a loss considered falsifying accounts? In this way, the law does not allow companies to operate at a loss.
103706768 102126893 : Well RAV named genting america as the defendent, genting america said this case is dependent on material findings but their own auditor also say they cant continue to operate like this will be bankrupt. The main issue here is RAV bahamas not happy bimini is sinking and they invest so much every year losing no profit. So they sue if they are sucessful and genting really cooked the books. Genting will get another fined from the US gov for accounting fruad lagi double whammy
102126893 : Casino accounts are related to tax revenue, generally not daring to falsify, unless they do not want to operate there anymore.
104741793 : Was this casino part of the asset of Lim family? Someone told me it's bleeding@MYR 150 a Q or 600 a yr.
103706768 104741793 : Losing 100million+ usd per year. 70+% stake holder is genting malaysia 20+% RAV bahamas. Thats why bahamas sue them
Muntri George 103706768 :
Muntri George 103706768 : BB -:Bullshit Business. Don't know how to do business, blames other.
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