Author Topic: Genting Group plans pay cut as virus shuts casinos  (Read 537 times)

Offline Teosh

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Genting Group plans pay cut as virus shuts casinos
« on: April 21, 2020, 11:06:32 PM »
https://www.thestar.com.my/business/business-news/2020/04/21/for-first-time-genting-group-plans-pay-cut-as-virus-shuts-casinos

KUALA LUMPUR (Bloomberg): Casino-to-hospitality conglomerate GENTING BHD and its units are planning the first group-wide salary cut since its founding in 1965.

Genting, backed by Malaysian tycoon Tan Sri Lim Kok Thay, is proposing as much as 20% temporary reduction of basic salary for employees based on their ranks, while Genting Hong Kong Ltd suggests up to 50% cut for those holding vice president role or higher, according to internal memo seen by Bloomberg News.

Genting Hong Kong confirmed in a statement that the salary cut will be in effect until year-end, while Genting Singapore Ltd and Genting Malaysia Bhd said they have proposed similar voluntary pay cuts with varying terms.

A representative for the group didn’t immediately respond to requests for comment.

“The businesses of the Genting Group have been badly affected, resulting in significant reduction in revenue,” the group’s Chief Operating Officer Tan Kong Han said in the memo.

“When business resumes, we would expect to face challenges to regain the level of business prior to the pandemic due to the adverse impact that Covid-19 will have inflicted on the domestic and global economies.” Genting seeks to avoid job cuts as much as possible, even if salary remains one of its biggest cost components, he added.

Shares of the companies declined except for Genting Hong Kong, which surged 11%. Genting fell 2.2%, while the Singapore unit lost 3.3% and the Malaysia arm slid 3.4% as of 3:40pm.

The group that operates casinos and resorts in Las Vegas and Singapore had to scale back operations as countries impose lockdowns, while consumers shun cruises after a few ships became sites of coronavirus outbreaks.

The conglomerate, founded in Malaysia in 1965, is also involved in property, plantation and energy sectors as well as life sciences.
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Offline shilau

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #1 on: May 10, 2020, 04:27:17 PM »
earning drop

Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #2 on: June 12, 2020, 04:47:31 PM »
When they reopening ppl will flood getting with  :cash: :cash: :cash: :cash: :cash: :cash: :cash: :D
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #3 on: June 16, 2020, 02:48:16 PM »
https://www.asgam.com/index.php/2020/06/16/genting-malaysia-to-reopen-two-resorts-but-resorts-world-genting-operations-still-suspended/

Genting Malaysia to reopen two resorts but Resorts World Genting operations still suspended

Genting Malaysia has revealed it will reopen two of its four Malaysian hotel resorts, Resorts World Kijal and Resorts World Langkawi, this Thursday 16 June 2020. But Resorts World Awana and flagship property, Resorts World Genting, will “remain closed until further notice,” according to an update posted on the group’s website.

All four locations have been shuttered since Prime Minister Muhyiddin Yassin first implemented a nationwide Movement Control Order on 18 March.
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #4 on: July 13, 2020, 12:26:17 PM »
https://www.thestar.com.my/business/business-news/2020/07/11/odds-slowly-turning-in-favour-of-genting

Odds slowly turning in favour of Genting :thumbsup:
Saturday, 11 Jul 2020
By GURMEET KAUR

THE reopening of Genting Malaysia Bhd’s flagship Resorts World Genting (RWG) some three weeks ago has received good response from patrons, a sign that the gaming company is on the road to recovery, albeit early days.

In an update on the gaming stock from the recent Invest Asean 2020 conference, an investment bank told its clients that the estimated footfall at the RWG complex on the hilltop of Genting Highlands reached half the numbers it used to see prior to the Covid-19 outbreak.

Recall that Malaysia’s glitzy city of entertainment reopened its doors on June 19 after being shuttered from March 18 as part of efforts to curb the spread of Covid-19.

According to the investment bank, the gaming company’s management is now planning to open another tower at its First World Hotel for an additional 1,400 rooms, besides the 2,000 hotel rooms it initially reopened.

However, Genting Malaysia’s casinos in the United States and the UK remain closed for now.

“Focus is on Malaysia, which contributes over 80% of earnings before interest, taxes, depreciation, and amortisation or EBITDA, ” the bank says in the note.

Nonetheless, analysts say earnings recovery for the company is likely to be patchy post-lockdown.

TA Securities’ Tan Kam Meng says he does not expect a “V-shaped earnings recovery, at least not in the second half of this year.”

“Earnings for this year will be a wash-out and investors should look into financial year 2021 (FY21) for a recovery play, ” he says.

Going by Macau’s experience where all casinos were ordered to close for 15 days in February, he says recovery in gaming volumes after reopening has remained at a snail’s pace since March.

“Footfall and gaming volume are two different things. Gaming companies derive the bulk of earnings from the latter, especially from high-rollers and the VIP segment, ” he says when contacted.

He notes that the monthly gross gaming revenue for Macau casinos fell between 80% and 97% year-on-year (y-o-y) for the March to June period because of Macau border control with the rest of the rest of the world, including China and Hong Kong.

He adds despite operational difficulties for casino concessionaires, Macau policymakers are not motivated to loosen the harsh travel policies implemented.

Back to Malaysia, some pent-up demand has returned to the resort casino with domestic travel the only option currently. That said, maximum capacity for its casino remains limited due to social distancing measures, analysts say.

“The reopening has restored investor sentiment to a certain extent, but business volume will pick up gradually, ” concurs another analyst.

Kenanga Research expects Genting Malaysia’s 2Q20 earnings to be worse and badly hit as its business was practically closed for almost a calendar quarter.

The “cash burn” from this shutdown for the Malaysian is believed to be around RM4mil a day – an amount it has been able to absorb, being part of the cash-rich Genting group.

As far as valuation goes, Kenanga Research feels that the stock remains fairly attractive as the rebound from the lows in mid-March amidst the market meltdown has yet to fully regain the oversold position.

At the height of market meltdown on March 19, Genting Malaysia and its parent company Genting Bhd saw their share prices plummet 41% and 51% year-to-date, at that point.

Since then, prices have recovered some 20% and 31%, respectively.

The brokerage foresees Genting Malaysia returning to the black in 3Q20 but profits to come in lacklustre because a “business as usual” to pre-Covid-19 level is unlikely any time until next year.

On the other hand, Kenanga Research believes that earnings recovery for number forecast operators (NFOs) would be faster than Genting Malaysia given that social distancing is likely to have less impact on NFOs. As for casinos, they are faced with the operating space factor, as well as the cross-border travelling restriction.

In 1Q20, the company slipped into the red with a net loss of RM418mil. Visitor arrivals to the hill-top resort were down by nearly one-third in 1Q20, while Ebitda from Malaysia operations was down 40% y-o-y. For the full year, analysts expect Genting Malaysia to generate a net loss in FY20. They see a “meaningful rebound” in FY21, however, net profit comparable to FY19’s RM2bil level, would only come in FY22.

TA Securities’ Tan sees the odds turning in favour for the stock from the third quarter should there be greater clarity on a Covid-19 vaccine.

He believes a vaccine success story would be a major game changer for the casino-com-entertainment industry as it would spur consumers’ confidence in social gathering.

“Optimistic scientists hope that a viable vaccine may be ready by the end-2020. If this is true, we are now six months closer to finding a vaccine since the first outbreak in China.

“As such, we believe the dampening economic factors we saw in the first half of the year, such as lockdowns and border control, are already behind us, ” says Tan, who does not think the shares of Genting Malaysia and Genting will drop to their lows in 1H20.

Analysts say near-term catalysts for the stock are more relaxed guidelines from the Malaysian authorities come Aug 31 when the recovery movement control order phase ends.

Another catalyst is the reopening of Genting Malaysia’s UK and US casinos, which some reckon would be happening soon. A medium-term catalyst, meanwhile, would be the launch of its outdoor theme park, now delayed to 2Q21.

Tan also believes that Budget 2021 will likely be a non-event for the gaming sector.

“Gaming companies are in the midst of a healing process after reopening. To reduce operating costs, Genting Malaysia has already laid off 3,000 workers.

If there are any negative budgetary policies that will hit the gaming companies again such as gaming tax hike, this is adding fuel to fire and may cause additional layoffs to save costs, ” he adds.

Business-wise, Genting Malaysia is also undertaking other initiatives such as having more electronic games and targeting the VIP or premium mass segment, according to the report by the investment bank.

It writes that management sees an opportunity to tap VIP players who are grounded here and unable to go to Cambodia, Singapore or Macau to gamble due to border closure.

Interestingly, the bank adds that management was not able to comment on dividends, but suggested looking into the second half of the year performance of RWG to assess dividend potential.

“Genting Malaysia still paid out the five sen final dividend per share declared for 2019. The 2020 dividend (if any) will be decided by the board of directors, ” the bank’s note to clients says.
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #5 on: July 16, 2020, 09:27:30 AM »
many gambler bringing money to Mr Lim's family  8) see who win  :cash: :D
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #6 on: July 17, 2020, 08:47:23 AM »
https://www.bbc.com/news/business-53436051


Genting Casinos closures put 1,600 jobs at risk


Genting Casinos says 1,642 employees in the UK could face losing their jobs, despite plans to reopen venues.

The GMB union said there were also plans to close three clubs in Margate, Torquay and Bristol.

Genting said the coronavirus lockdown had forced it to make "heartbreaking decisions" about the future of its business.

Colleagues at risk remain on furlough and it hopes to bring them back "at a later stage", Genting said.

The firm said that it has faced "unprecedented challenges and heavy losses" over the past few months, as a result of the coronavirus pandemic.

"Despite the ongoing uncertainty in relation to when we may be able to open our doors again, we are continuing to prepare for our re-opening - albeit with significant changes being implemented to our physical premises and to our operating model," said a Genting spokesman.

"In light of these changes, we are having to make some heart-breaking decisions about the future of the business and it is with huge regret that job losses are simply unavoidable."

Genting's plans to change its business model include ending poker games and hospitality services, according to GMB.

"This announcement by the company is nothing short of outrageous. It's a serious slap in the face to loyal and long serving staff - as well as the UK public," said GMB national officer Mick Rix.

"Taxpayer's cash has funded Genting to the tune of millions of pounds during lockdown - now they are making people redundant rather contribute towards the Government furlough scheme from the end of August."
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #7 on: July 17, 2020, 08:53:50 AM »
:heartbreak: The GMB union said there were also plans to close three clubs in Margate, Torquay and Bristol. :heartbreak:

But closing casino cant stop gambler, they will go online find a legal platform  :rofl:  :dancing: :dancing: :dancing: Play & dance as usual for gamblers 股照炒、舞照跳、马照跑 :nod:



https://www.bbc.com/news/business-53436051


Genting Casinos closures put 1,600 jobs at risk


Genting Casinos says 1,642 employees in the UK could face losing their jobs, despite plans to reopen venues.

The GMB union said there were also plans to close three clubs in Margate, Torquay and Bristol.

Genting said the coronavirus lockdown had forced it to make "heartbreaking decisions" about the future of its business.

Colleagues at risk remain on furlough and it hopes to bring them back "at a later stage", Genting said.

The firm said that it has faced "unprecedented challenges and heavy losses" over the past few months, as a result of the coronavirus pandemic.

"Despite the ongoing uncertainty in relation to when we may be able to open our doors again, we are continuing to prepare for our re-opening - albeit with significant changes being implemented to our physical premises and to our operating model," said a Genting spokesman.

"In light of these changes, we are having to make some heart-breaking decisions about the future of the business and it is with huge regret that job losses are simply unavoidable."

Genting's plans to change its business model include ending poker games and hospitality services, according to GMB.

"This announcement by the company is nothing short of outrageous. It's a serious slap in the face to loyal and long serving staff - as well as the UK public," said GMB national officer Mick Rix.

"Taxpayer's cash has funded Genting to the tune of millions of pounds during lockdown - now they are making people redundant rather contribute towards the Government furlough scheme from the end of August."
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #8 on: July 21, 2020, 08:57:50 AM »
S&P assigns B+ rating with stable outlook for Genting Malaysia 49%-owned Empire Resorts

https://www.theedgemarkets.com/article/genting-malaysia-49owned-associate-empire-resorts-issue-us475m-senior-secured-notes

Areeshya Thevamanohar/theedgemarkets.com
July 20, 2020 11:36 am +08

KUALA LUMPUR (July 20): S&P Global Ratings has assigned New York-based casino operator Empire Resorts Inc a ‘B+’ long-term issuer credit rating, ‘B+’ issue-level rating and ‘3’ recovery rating to the company’s proposed senior secured notes.

In a note today, S&P said this follows Empire’s plan to issue US$475 million senior secured notes due 2025 with the proceeds to be used to repay existing bridge loans, fund its debt service reserve account and boost liquidity.

Empire is a wholly-owned subsidiary of Genting Empire Resorts LLC, which in turn is 49% owned by Genting Malaysia Bhd and 51% by Kien Huat Realty III Ltd, an affiliate of Kien Huat Realty Sdn Bhd

Kien Huat Realty owns 42.85% of Genting Bhd, which in turn owns 49.5% of Genting Malaysia.

Empire had a cash balance of US$18.2 million as of March 31, 2020 which can support liquidity needs for about three months, based on a cash burn rate of about US$5 million on a zero-revenue scenario.

To support the liquidity shortfall, Genting Malaysia injected US$25 million into Empire in March 2020 and US$15 million in June 2020, S&P added.

“Although proceeds from the proposed notes can improve Empire’s liquidity position to support a zero-revenue scenario cash burn in excess of 12 months, we expect a timely capital injection from Genting to support Empire’s liquidity as we forecast discretionary cash flow to stay negative in 2021 and 2022.”

Despite Empire’s leaner cost structure, revenue streams have yet to stabilise given the location and surrounding competition. S&P said the relatively new gaming project, Empire’s Resorts World Catskill which opened in February 2018, has failed to effectively ramp up operations and attract sufficient visitation due to the high level of entrenched, high-quality gaming supply in the northeastern part of the US in the VIP segment.

“We believe the operating environment remains highly uncertain. Business recovery remains questionable with casino reopening dates unknown and the Covid-19 situation evolving in the state of New York. Empire’s survivability is based on our belief that Genting will continue to provide timely support.”

“In our view, Empire can achieve cost-cutting initiatives and some synergies easily. We forecast Empire’s EBITDA at US$15 to US$16 million in 2021, from a loss of US$24.4 million in 2019. That said, we expect EBITDA interest coverage to stay below 0.5x in 2021 and 2022, and debt-to-EBITDA leverage to stay above 20x in 2022.”

S&P said its stable outlook on Empire reflects its view that the company will receive ongoing and extraordinary support from Genting group on a timely basis. It also reflects its expectation that once Empire’s operations resume within the next three to six months, the company will improve its operating performance while realising its cost reduction plans and appropriately managing its refinancing plans.

“We may lower the ratings if we believe Genting group or Kien Huat would not make further capital injections into Empire to provide timely liquidity support for its interest obligations or ongoing and extraordinary group support from Genting will weaken.”

Rating upside for Empire is limited for the foreseeable future, it concluded.

At the midday break, Genting Malaysia shed 4 sen or 1.61% to RM2.45, valuing it at RM13.8 billion.

Meanwhile its parent, Genting, shed 5 sen or 1.23% to RM4.01, valuing it at RM15.44 billion.
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #9 on: July 21, 2020, 09:10:24 AM »
Despite losing RM160m a month during MCO, Genting Malaysia declares five sen final dividend for FY19

https://www.theedgemarkets.com/article/despite-losing-rm160m-month-during-mco-genting-malaysia-declares-five-sen-final-dividend

Cindy Yeap/theedgemarkets.com
June 22, 2020 13:06 pm +08


KUALA LUMPUR (June 22): Genting Malaysia Bhd (GENM), which lost at least RM160 million a month during the movement control order (MCO) period, continued to see dividends as its main way of rewarding shareholders.

While it did not directly commit to paying a dividend for the financial year ending Dec 31, 2020 (FY20) or FY21, in reply to this question received from shareholders prior to its virtually conducted annual general meeting (AGM), GENM chief financial officer Koh Poy Yong said: “The group will continue to balance the need to conserve funds with its desire to reward shareholders with dividends. Despite the challenging operating environment that we currently face, we will still proceed with the payment of the 2019 final dividend of five sen per share if approved by shareholders.”

Shareholders later approved the final dividend during the meeting.

GENM, which closed from March 31 to contain the Covid-19 outbreak, resumed gaming operations in Malaysia last Friday with lower capacity and social distancing rules in place.

The group also said it is keeping a tight watch on its operating cost even as it actively promotes the reopening of its services to members.
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #10 on: July 21, 2020, 09:11:51 AM »
Genting SkyWorlds outdoor theme park to open 2Q21, featuring 20th Century Fox attractions

https://www.theedgemarkets.com/article/genting-skyworlds-outdoor-theme-park-open-2q21-featuring-20th-century-fox-attractions

Cindy Yeap/theedgemarkets.com
June 22, 2020 13:03 pm +08


KUALA LUMPUR (June 22): Genting Malaysia Bhd (GENM) is targeting to open its outdoor theme park — which will be named "Genting SkyWorlds" — in the second quarter of 2021 (2Q21).

While "20th Century Fox" has been dropped from the name from its multibillion-ringgit outdoor theme park, the new outdoor theme park will still feature movies from 20th Century Fox as well as other unnamed "international class" movie-themed attractions, GENM chief financial officer Koh Poy Yong told shareholders at the group's 40th annual general meeting that was conducted virtually in compliance with Covid-19-related social-distancing measures.

In reply to questions sent by the Minority Shareholder Watchdog Group (MSWG) on why the outdoor theme park's opening was being delayed by one year, Koh said the movement control order that began on March 18 resulted in a temporary halt in construction works.

There were also travel restrictions on foreign consultants and specialists entering Malaysia to complete the outdoor theme park, she explained, but added that construction works had since been allowed to resume.

The 2Q21 targeted opening date for the outdoor theme park is slightly earlier than the 3Q21 the group has recently guided analysts.

In July 2019, GENM told Bursa Malaysia that it had resolved its dispute with 20th Century Fox Film Corp, Fox Entertainment Group LLC, Twenty-First Century Fox Inc and Walt Disney Company over the development of its outdoor theme park.

The settlement reached grants GENM a licence to use certain intellectual properties of Fox.

At the time, GENM said its outdoor theme park would utilise both Fox and non-Fox intellectual properties, without providing specifics.

GENM also said the outdoor theme park would be renamed.
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #11 on: July 22, 2020, 09:45:51 AM »
what happen ???
 
resume operate already still cant catch up sales ka?
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #12 on: July 24, 2020, 09:53:33 AM »
https://www.theedgemarkets.com/article/moodys-completes-genting-bhd-rating-review-says-recovery-pace-uncertain

Moody’s completes rating review of Genting, says recovery pace uncertain


Areeshya Thevamanohar/theedgemarkets.com
July 23, 2020 16:46 pm +08

KUALA LUMPUR (July 23): Moody's Investors Service, which announced today the completion of its periodic review of the rating of Genting Bhd, said its Baa2 rating reflects the holding company status, including full control of Genting Overseas Holdings Ltd and that the holding company generates most of its cash flow in the forms of fees and dividends from Genting Malaysia Bhd and Genting Singapore Ltd.

In a statement, Moody’s analyst Junling Tan said the rating of Genting also incorporates Moody's expectations of a weaker operating performance and the temporary closure of the casino and hotel operator's integrated resorts worldwide amid the Covid-19 outbreak.

"The rating also captures the execution and financial risks associated with Genting's strong appetite for expanding its gaming franchise in the US and Asia.

"While such projects are likely to be large in scale and could consume operating and financial resources over the medium term, we expect Genting to prudently manage its finances and investment strategies to contain the risks associated with its expansion plans,” Tan said.

On the completion of the periodic review of the rating of Genting, Tan said it was conducted through a portfolio review in which Moody's reassessed the appropriateness of the rating in the context of the relevant principal methodologies, recent developments, and a comparison of the financial and operating profile with those of similarly rated peers.

"The review did not involve a rating committee. Since Jan 1, 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.

"This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement,” the analyst said.

Genting's 49.52%-owned associate Genting Malaysia said in its latest investor presentation dated July 8, 2020 that the full extent of the impact of the Covid-19 pandemic on the group's operations was uncertain at this juncture.

Genting Malaysia said implementation of aggressive cost-control measures would continue across all its operating entities.

"Health and safety remain a key priority," Genting Malaysia said.

On Bursa Malaysia today, Genting Malaysia shares were traded unchanged at RM2.37 at 4.11pm, with a market capitalisation of RM13.39 billion.

At 4.12pm, Genting's share price had gained eight sen or 2.07% to RM3.95, with a market value of RM15.17 billion.





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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #13 on: July 29, 2020, 08:55:59 AM »
Had to wait school holiday end of year baru got biz, that is also if we are completely safe from COVID-19 baru safe beli  :wonder: :think: :wonder: :think: :wonder:



https://www.theedgemarkets.com/article/moodys-completes-genting-bhd-rating-review-says-recovery-pace-uncertain

Moody’s completes rating review of Genting, says recovery pace uncertain


Areeshya Thevamanohar/theedgemarkets.com
July 23, 2020 16:46 pm +08

KUALA LUMPUR (July 23): Moody's Investors Service, which announced today the completion of its periodic review of the rating of Genting Bhd, said its Baa2 rating reflects the holding company status, including full control of Genting Overseas Holdings Ltd and that the holding company generates most of its cash flow in the forms of fees and dividends from Genting Malaysia Bhd and Genting Singapore Ltd.

In a statement, Moody’s analyst Junling Tan said the rating of Genting also incorporates Moody's expectations of a weaker operating performance and the temporary closure of the casino and hotel operator's integrated resorts worldwide amid the Covid-19 outbreak.

"The rating also captures the execution and financial risks associated with Genting's strong appetite for expanding its gaming franchise in the US and Asia.

"While such projects are likely to be large in scale and could consume operating and financial resources over the medium term, we expect Genting to prudently manage its finances and investment strategies to contain the risks associated with its expansion plans,” Tan said.

On the completion of the periodic review of the rating of Genting, Tan said it was conducted through a portfolio review in which Moody's reassessed the appropriateness of the rating in the context of the relevant principal methodologies, recent developments, and a comparison of the financial and operating profile with those of similarly rated peers.

"The review did not involve a rating committee. Since Jan 1, 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.

"This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement,” the analyst said.

Genting's 49.52%-owned associate Genting Malaysia said in its latest investor presentation dated July 8, 2020 that the full extent of the impact of the Covid-19 pandemic on the group's operations was uncertain at this juncture.

Genting Malaysia said implementation of aggressive cost-control measures would continue across all its operating entities.

"Health and safety remain a key priority," Genting Malaysia said.

On Bursa Malaysia today, Genting Malaysia shares were traded unchanged at RM2.37 at 4.11pm, with a market capitalisation of RM13.39 billion.

At 4.12pm, Genting's share price had gained eight sen or 2.07% to RM3.95, with a market value of RM15.17 billion.
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Offline Teosh

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Re: Genting Group plans pay cut as virus shuts casinos
« Reply #14 on: September 03, 2020, 10:20:26 AM »
Had to wait school holiday end of year baru got biz, that is also if we are completely safe from COVID-19 baru safe beli  :wonder: :think: :wonder: :think: :wonder:

by the time end of the year after MCO ended, will be next year a whole new year 2021 baru can can fully operate  :rofl:

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