We examine a major privatisation move in Malaysia’s gaming sector, gold’s record-breaking rally amid monetary policy shifts, and a new cross-border investment initiative linking Singapore and Indonesia.
Welcome to this week’s edition of top stock market highlights.
Genting Bhd (MYX: GENTING) and Genting Malaysia (MYX: GENM)
Genting Bhd unveiled plans on 13 October 2025 to privatise its subsidiary Genting Malaysia in a conditional voluntary takeover offer valued at RM6.7 billion (S$2.1 billion).
The conglomerate offered RM2.35 per share, representing a 9.8 per cent premium to Genting Malaysia’s last traded price of RM2.14 before trading was suspended, which would result in the gaming and hospitality arm’s delisting from Bursa Malaysia.
With Genting already holding more than 49 per cent of Genting Malaysia, the company believes the acceptance condition can be readily achieved. To fund the acquisition, Genting will use a combination of RM6.3 billion in debt financing and internally generated funds. Management stated that achieving majority ownership would streamline capital allocation and better support large-scale investments whilst improving operational efficiency.
The buyout comes as Genting Malaysia intensifies efforts to secure a coveted casino licence in New York, where it is proposing a US$5.5 billion (RM23.2 billion) integrated resort in Queens. Analysts suggest the privatisation could pave the way for broader restructuring within the Genting group, particularly if it secures the New York licence.
Gold Market Developments
Gold rose to a fresh record high on 15 October 2025, climbing 0.8 per cent to US$4,173.56 per ounce after touching an all-time high of US$4,186.68 earlier in the session. The rally was buoyed by rising expectations of further US interest rate cuts and renewed US-China trade concerns, which boosted safe-haven demand.
US Federal Reserve chairman Jerome Powell stated that the labour market remained subdued whilst indicating that interest rate decisions would be made on a “meeting-by-meeting” basis. Investors are now pricing in a near-certain chance of 25-basis-point rate cuts in both October and December 2025.
Safe-haven gold has gained 59 per cent year-to-date, driven by geopolitical and economic uncertainties, expectations of US rate cuts, strong central bank buying, and robust exchange-traded fund inflows. The precious metal received additional support from renewed trade tensions, with President Donald Trump considering cutting trade ties with China whilst both countries began imposing tit-for-tat port fees. Silver also participated in the rally, rising 0.3 per cent to US$51.60 after hitting a record high of US$53.60 on the previous day.
SGX Group (SGX: S68) and Indonesia Stock Exchange Partnership
SGX Group announced on 16 October 2025 the launch of the Indonesia-Singapore Depository Receipt Linkage, with an inaugural batch of Singapore Depository Receipts. This milestone follows a memorandum of understanding signed between SGX Group and Indonesia Stock Exchange in 2024, representing the second exchange-level depository receipt cooperation in ASEAN after the Thailand-Singapore linkage.
Through Singapore Depository Receipts, investors in Singapore can access Indonesian-listed securities using local brokers, trading in Singapore dollars during SGX market hours. Issued by Phillip Securities Pte Ltd, the inaugural Indonesia Singapore Depository Receipts represent beneficial ownership interests in Bank Central Asia, Telkom Indonesia, and Indofood CBP – all constituents of the benchmark IDX30 Index.
Loh Boon Chye, chief executive officer of SGX Group, noted that the linkage is a significant milestone in strengthening regional connectivity and aligns with recommendations from the Equities Market Review Group announced in February 2025. Iman Rachman, president director of Indonesia Stock Exchange, stated that the initiative will enhance market liquidity, expand investor participation, and strengthen cross-border investment flows.
The addition brings the total number of Singapore Depository Receipts listed on SGX to 26.
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