The board has also approved a final dividend of S$0.01 (US$0.007) per ordinary share.
Singapore.- The board of Genting Singapore Ltd on Thursday has reelected Lim Kok Thay as executive chairman at its annual general meeting. The company also announced that Chan Swee Liang Carolina, who was re-elected as a director at the AGM, will continue to serve as lead independent director, chairman of the remuneration committee and a member of the audit and risk and nominating committees.
The board also approved a final dividend of S$0.01 (US$0.007) per ordinary share as part of a series of resolutions. The final dividend will be paid on May 25.
Genting Singapore Ltd, which operates the casino resort Resorts World Sentosa in Singapore, reported a strong year-on-year net profit of S$183.3m in 2021, compared with S$69.2m the year before.
Resorts World Sentosa expansion plan to start this quarter
As previously revealed by Focus Gaming News, Resorts World Sentosa (RWS) has confirmed it will carry out a phased refurbishment from this quarter to 2023. The plan will cover 1,200 units across its three hotels: Hard Rock Hotel Singapore, Hotel Michael and the Festive Hotel.
When completed, the Festive Hotel will be transformed into business leisure and working holiday hotel with a variety of mobile workspaces and lifestyle offerings to reflect new work trends, Genting Singapore said.
In February, the company revealed it would spend an aggregate of SGD400m (US$294m) this year for phase two of the complex. The improvements are part of a S$4.5bn spending commitment to the Singapore government announced by Genting Singapore in April 2019 under which it will retain half of the Singapore casino duopoly until 2030.