Genting Malaysia names Wai Yee Loh as CFO
Former CFO Koh Poy Yong has retired.
Malaysia.- Genting Malaysia has announced the appointment of Wai Yee Loh as its new chief financial officer (CFO), effective as of April 1. Her appointment follows the retirement of former CFO Koh Poy Yong.
Yee Loh joined Genting Malaysia in June 2023 as senior vice president – finance and was redesignated as the deputy chief financial officer (Resorts World Genting) on August 1, 2023. Before joining the company, she held senior leadership positions with Tenaga Nasional Berhad, Destination Resort and Hotel Sdn Bhd, and Penerbangan Malaysia Berhad.
She also spent several years in the Investment Division of Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. Before entering the commercial sector, Yee Loh trained as a chartered accountant in a public accounting firm in London before returning to PricewaterhouseCoopers, Kuala Lumpur, as an audit senior and rose to the rank of senior manager.
Genting Malaysia reports net loss for Q4
Genting Malaysia’s fourth quarter revenue was flatish at RM2.68m (US$604.3m) while adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was RM180.6m (US$41m), down 78.6 per cent year-on-year and 86.2 per cent quarter-on-quarter. The decline was mainly attributed to net unrealised foreign exchange translation losses on the group’s USD-denominated borrowings.
The company posted a loss before taxation (LBT) of RM368.2m and a net loss of RM485.6m. Excluding the effect of the unrealised foreign exchange translation, the group would have reported LBT of RM11.3m and a net loss of RM128.7m.
Revenue in the leisure and hospitality segment in Malaysia was down 1 per cent to RM1.17bn (US$263.8m), while adjusted EBITDA was down 7 per cent, to RM490.4m (US$110.57m). The company attributed this to higher operating expenses during the period.
For the full year, Genting Malaysia’s revenue increased by 7 per cent to RM10.7bn (US$2.41bn) while adjusted EBITDA grew by 1 per cent to RM2.92bn (US$658.4m). In Malaysia, the group’s leisure and hospitality operations reported a 6 per cent growth in revenue to RM6.28bn (US$1.42bn) while adjusted EBITDA was up 1 per cent to RM2.1bn (US$473.5m).
