GENTING TO ESTABLISH CHELSEA PREMIUM OUTLET CENTRES IN MALAYSIA VIA JOINT-VENTURE

KUALA LUMPUR, Sept 30 (Bernama) -- Genting Group, via Azzon Ltd, has sealed
a joint venture agreement with Chelsea Malaysia LLC, a division of Simon
Property Group. to establish Chelsea Premium Outlet Centres in Malaysia.

Azzon is wholly-owned by Genting Plantation Bhd, which in turn is a unit of
Genting Bhd.

Under the agreement, Genting Plantation and Simon will form a 50:50 joint
venture called Genting Chelsea Sdn Bhd to invest and operate Premium Outlet
Centres in Malaysia.

Genting and Simon said, in a joint press statement Wednesday, that the first
project to be developed would be the Johor Premium Outlets.

-- BERNAMA