i think for the case of genting - the leverage has a bigger say. higher leverage and low shareholder return. any further debt funded capex moving forward will drag it lower. mgmt has to do something for US assets - freeze capex for catskills, bimini resorts and hudson valley in the mean time :) the longer they take to list US assets, the lower valuation it is? dragged by underperforming US assets.

True. Even GenS might use up all their internal surplus funds for transformation programmes plus dividends and external financing options, including bank borrowings and other funding instruments, would also need to be considered as part of the company’s broader capital management strategy going forward. The underperforming US assets will require a lot of Cash.

The son now is more towards cash earning machine. Resort world new york under son, and it has its own Malaysia operation that is positive income. Mother got too many spending( Indonesia FLNG still need money) (Genting Singapore profit didn't meet the expectation) ( Taurx no news) so Genting company too complex in earning already.