Genting resolves dispute over outdoor theme park project


Genting Malaysia rose 25 sen to RM3.70 and Genting 22 sen higher at RM6.87. They added four points to the KLCI.

KUALA LUMPUR (Bernama): Genting Malaysia Bhd has fully resolved its dispute with Fox Entertainment Group Llc, Twentieth Century Fox Film Corporation, Foxnext Llc, Twenty First Century Fox Inc and The Walt Disney Company over the development of an outdoor theme park.

In a filing with Bursa Malaysia today, Genting Malaysia said as part of the settlement terms, all parties had entered into a restated memorandum of agreement granting the company a license to use certain Fox intellectual properties.

Following the settlement, all parties agreed to dismiss all claims and counterclaims between the parties in the pending legal action in the United States District Court for the Central District of California, it said.

"Genting Malaysia is currently updating its development and construction plans to complete the outdoor theme park utilising both Fox and non-Fox intellectual properties.

"The outdoor theme park shall also be renamed,” it added.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Ringgit to trade in tight range of 4.46-4.48 versus US dollar next week
Reaping the Max from streaming
The ringgit recovery
EQ expands to Thailand
RHB, CGC in LCTF portfolio guarantee deal
Market struggles to find direction
Singapore playing roulette with casino licensing
Bidding big on Malaysian art
Inflation rises slightly in October
Building a firm facade

Others Also Read