AEC Feed

Business and accounting guru Washington Sycip says a money-laundering case that has now become a global spectacle has not curbed foreign investors’ appetite for the Philippines.
A bancassurance partnership between Germany’s biggest insurance firm Allianz and the 20-per-cent buy-in of Japanese banking giant Bank of Tokyo-Mitsubishi in Security Bank were still consummated despite the controversy on the entry of dirty money to the banking system that ended up in local casinos. “That clearly shows foreign investments have not been affected,” he said.
– Philippine Daily Inquirer

Genting Highlands to see 50% rise in visitors

Genting Malaysia hopes to see a near 50-per-cent rise in visitors to its hilltop resort in Genting Highlands by 2020, driven by the increase in gaming capacity and the presence of the Century Fox World theme park.
This was forecast by Affin Hwang Capital research, which produced an extensive report on Genting Malaysia after a meeting with the company’s management.
The report said Genting Malaysia expected Resorts World Genting to record 30 million visitors annually by 2020, thanks to the anticipated rise in gaming capacity from the company’s 10-billion-ringgit (Bt90 billion).
– The Star