Genting in Taiwan

Topics: Republic of China, Genting Highlands, Casino Pages: 23 (8870 words) Published: March 17, 2011
1.0 Introduction
1.1 Company Background
Genting Berhad is a parent company which is the investment holding and management of Genting Group. The late Tan Sri (Dr.) Lim Goh Tong was the founder of the Genting Group in 1965. All the subsidiaries and affiliates operating under the "Genting" name are recognized as one of Asia’s leading and best-managed multinationals. There are currently 5 public companies are listed in 3 jurisdictions that operate under the "Genting" name. These public companies and their subsidiaries and affiliates are engaged in diverse businesses, including leisure & hospitality, power generation, oil palm plantation, property development, biotechnology and oil & gas.

Genting Malaysia Berhad is majoring engaged in the leisure and hospitality business and its activities cover theme parks, gaming, hotels, seaside resorts and entertainment. Their vision is to be the leading Leisure, Hospitality and Entertainment Corporation in the world.

Genting Malaysia’s missions are listed below:
(1) Be responsive to the changing demands of our customers and excel in providing quality products and services. (2) Be committed to innovation and the adoption of new technology to achieve competitive advantage. (3) Generate a fair return to our shareholders.

(4) Pursue personnel policies which recognise and reward performance and contributions of employees and provide proper training, development and opportunities for career advancement. (5) Be a responsible corporate citizen, committed to enhancing corporate governance and transparency.

Known as Resort World Genting, the resort offers six hotels with 10,000 rooms, over 60 fun rides, 170 dining and shopping outlets, mega shows, business convention facilities and endless entertainment which converge all in one location. The most well-known hotel is the First World Hotel which is the world’s largest hotel with 6,118 rooms as acknowledged by the Guinness World Records and Ripley’s Believe It or Not. Apart from the hotel businesses, another attractive point is the casino at Genting Highlands. The Casino de GENTING is the first and only casino in Malaysia which opened in 1971 at the same time as the Genting Resort. They offered most exciting casino games that combined with advanced technology and also classic games in total thirty tables with games such as Blackjack, Tai Sai, Pai Gow, Baccarat, Roulette and French Boule, as well as a selection of “one-armed-bandits”.

1.2 Reason for choosing Taiwan
Genting Malaysia is a well-known multinational enterprise as an economic entity that controls operations diffused across national regions (Caves, 1996). All the Genting’s subsidiaries and affiliates that invested in foreign market are still at the early stage in business life cycle. Despite of this, there is another opportunity to expand their businesses in Taiwan (Republic of China) since the local governments have been legalized gambling on January 2009 in the island of Penghu as a mean to boost the economy and tourism business (Chang, 2002; Chen, 1994; Ho, 2005; Ho, 2007). In a report found on web, The Council for Economic Planning and Development had estimated that 5,000 jobs could be created from the Taiwan casinos. In addition, another 15,000 temporary jobs will be created. Thus, the government will follow Singapore’s example and demand that gaming centers be located within international tourist resorts. The government also stipulated that all of the Taiwan casino must be part of a resort which to be ensure the most possible job additions and also the maximum revenue. There will be in total 3 licenses of resort Taiwan casinos which are expected to be approved at the end of the year. Taiwan is viewed as an attractive marketplace which can potentially generate significant revenue for legalized gambling (Gu & Tsai, 2005; Ho, 2007). According to Chang in his study of 2009, the number of total visitors to Macau reached 30,185,740 in 2008. Most of...
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