GENTING MALAYSIA BERHAD
KLSE (MYR): GENM (4715)
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Last Price
2.51
Today's Change
-0.01 (0.40%)
Day's Change
2.51 - 2.55
Trading Volume
10,886,700
Financial
T4Q
31-Mar-2021
2020
31-Mar-2021
2019
31-Mar-2021
2018
31-Mar-2021
2017
31-Mar-2021
Discussions
30 people like this. Showing 50 of 41,497 comments
GenS Q1 2023 result was good against last year Q1, but it was lower than Q4 2022 and market expectation.
Main reasons for the weak result were unfavourable VIP win rates and limited airlines capacity to bring in mass market visitors to Singapore (hence high air ticket prices).
As statistics shows, visitors from China to Singapore in May only reached 51% of May 2019 level, so there is plenty of room for this to improve in coming months.
2 weeks ago
Genm I think is loss making due to higher tax implementation by gov. Chinese ppl always clever in running tax. Report loss , less tax . Jimat
2 weeks ago
https://www.nst.com.my/amp/news/nation/2023/05/911096/couple-fall-their-death-hotel-building-genting-highlands
Couple fall to their death from hotel building in Genting Highlands
By Amir Hamzah Nordin
May 19, 2023
BENTONG: A husband and wife were found dead believed to have fallen from a hotel building in Genting Highlands here on Tuesday (May 16).
Bentong District Police chief, Superintendent Zaiham Mohd Kahar, said that they received a report regarding the incident at around 9.46pm on May 16 (Tuesday).
Based on initial investigations, the couple who were both 37, and hailed from Taiping, Perak, came to Genting Highlands on May 11 (last Thursday) and checked into the hotel.
"Checks on the hotel's Closed-Circuit Television (CCTV) cameras found that from the first day the couple checked in until when the incident happened, no one else had entered their room except for the two of them," he said in a statement today.
Zaiham said that further checks found no criminal elements or elements of foul play.
"Based on the post-mortem report, the cause of death for the man was a 'massive hemothorax' while for the wife it was severe injuries to the head.
1 week ago
but wait for Q1 out 1st and see got declaration of dividend or not...low chance they will announce I think
1 week ago
QR should be out this week. Looking at the share price trend, pointing to poor results.
1 week ago
still losing making, but no worry, Q2 sure win with the Miami land sale, 5b cash coming
6 days ago
QR keep losing money ....... now let us waiting so-chai " first day " blogger how to brainwash his follower thru his article........
6 days ago
Quite a funny statement in the QR, also definitely played a role to impact the performance
The increase in effective ownership interest in Empire by GENM Group from 66.6% to 76.3% with
effect from immediate preceding quarter has also resulted in a higher share of losses in Empire.
6 days ago
revenue is almost the same as pre-covid level, so it is Empire that kills GENM. CEO still get high pay and passes the burden from his private own company to GENM.
6 days ago
Empire can't kill GENM as it recorded loss RM18 Million. The earning mainly offset by deferred tax RM62 Million and depreciation RM308 Million. The total borrowings have been reduced RM271 Million
6 days ago
Genm registered commendable results for 1Q2023 with adjusted EBITDA of RM593 million, up 43% y-on-y and up 25% q-on-q.
Finance costs reduced by RM21 million or 12% y-on-y due to lower total borrowings by RM300 million.
Share of results from associates worsened by RM18 million y-on-y due to higher effective stakes of 77% in Empire Resorts. Empire Resorts registered a pretax loss of US$15 million in this quarter, annualised to US$60 million which is larger than 2022 actual loss of US$34 million. Added back with non-cash depreciation charges of US$41.1 million and interest expenses of US$67.5 million a year, EBITDA will be US$48.6 million positive. Allowing for interest expenses of US$67.5m, cash burn will be US$18.9 million a year for Empire Resorts. To me this is still manageable, especially the management is ramping up efforts to roll our mobile sports betting which the management expected to add some US$26 million of EBITDA in 2023 and US$40 million of EBITDA in 2024. That will turn it to cashflows positive.
6 days ago
The contribution from USA & Bahamas is encouraging with adjusted EBITDA of US$30-33 million in Q42022 and Q12023. That will annualise to over US$120 million a year, higher than my earlier projection of US$100 million.
The jackpot to hit is to get a full casino license in New York.
6 days ago
Operating cashflows are decent at RM363 million in 1Q2023, annualised to RM1,452 million or 24.5 sen per share.
Capex was high at RM195 million in 1Q2023, expect it to come down slightly in following quarters.
6 days ago
Prospects are getting brighter in coming quarters on following grounds:
1) Rebounds in tourists to Genting Highlands with more China and Singaporeans able to travel across and more rides added at Genting SkyWorld
2) Continuous earnings rebound from Resorts World New York City
3) Improving earnings from Resorts World Bimini after collaboration with international cruise operators to increase the port calls to the island
4) reduced losses in Empire Resorts after mobile sports betting is ramped up
5) the imminent disposal of Miami land for US$1.225 billion which will reduce interest expenses by US$61 million a year
6) the potential of Genm bagging a full casino license in New York
7) Continued strengthening of US dollars that make US earnings contribution stronger in ringgit terms
8) potential monetisation or disposal of other assets under Genm, eg. the resorts and hotel in Bimini, the other 2 parcels of land and hotel in Miami and some UK casinos
6 days ago
Plus the 1st phase of Genting XinTianDi mix real estate development project 'Red Earth' with expected GDV RM1.7Billion to lauch in June 2023
6 days ago
I believe XTD and the recent flurry of developments could also spur an organic growth on GH footfall
This would further dilute the contribution from gaming segment, which can be a good thing
5 days ago
PRN has no immediate impact to genm , even if pas pn win , pahang still under ph amno
5 days ago
it is unacceptable to still making loss. life have move on pass covid era and yet genm still making loss.
5 days ago
Simple basic business 101, expenses and overhead is far, far greater than income....lu tau boh?.............mana sekolah lu??
5 days ago
This is amazing. Thanks for sharing this blog. I have become a fan of your blogs. This blog is so interesting and informative.
3 days ago
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
RonnyWu
I think won't so bad ba given that PBB raised its TP
2 weeks ago