{"id":15421,"date":"2021-03-03T14:41:56","date_gmt":"2021-03-03T14:41:56","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=15421"},"modified":"2026-04-23T21:24:52","modified_gmt":"2026-04-24T00:24:52","slug":"genting-malaysia-to-cut-salaries","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-to-cut-salaries","title":{"rendered":"Genting Malaysia to cut salaries"},"content":{"rendered":"\n

Genting Malaysia Bhd is planning to cut salaries to reduce costs as the impact of the Covid-19 pandemic continues.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- After reopening its R<\/a><\/strong>e<\/a><\/strong>s<\/a><\/strong>o<\/a><\/strong>r<\/a><\/strong>t<\/a><\/strong>s<\/a><\/strong> <\/a><\/strong>W<\/a><\/strong>o<\/a><\/strong>r<\/a><\/strong>l<\/a><\/strong>d<\/a><\/strong> <\/a><\/strong>v<\/a><\/strong>e<\/a><\/strong>n<\/a><\/strong>u<\/a><\/strong>e<\/a><\/strong>s<\/strong><\/a><\/em>, Genting Malaysia<\/strong>, the promoter of Malaysia\u2019s only casino complex, will make salary cuts for staff<\/strong> from March to May inclusive.<\/p>\n\n\n\n

The group\u2019s senior management team<\/strong>, which includes its deputy chairman, chief executive office and all vice presidents and above, have voluntarily agreed to waive 20 per cent of their salaries<\/strong>.<\/p>\n\n\n\n

A group of employees were asked to voluntarily agree to a temporary reduction<\/strong> of 15 per cent or 20 per cent of their base salary depending on their rank. Others were asked to consider taking one unpaid day off work each week.<\/p>\n\n\n\n

A Genting Malaysia spokesmen said: “We need to control RWG\u2019s [Resorts World Genting] cost base <\/strong>to ensure the sustainability of our business and to help protect as many jobs as possible during this challenging time.”<\/p>\n\n\n\n

Genting Malaysia revenue down due to the Covid-19 pandemic<\/h2>\n\n\n\n

The company has reported that EBITDA for full-year 2020 fell 69.1 per cent<\/a><\/em><\/strong> to MYR350.3m because of restrictions to contain the Covid-19 pandemic<\/strong>.<\/p>\n\n\n\n

Operations at Resorts World Genting were suspended from March 18 until June 19 last year<\/strong>. The complex now operates with reduced capacity<\/strong> amid health and safety protocols imposed by Malaysian authorities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Malaysia Bhd is planning to cut salaries to reduce costs as the impact of the Covid-19 pandemic continues.<\/p>\n","protected":false},"author":176,"featured_media":15424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Malaysia Bhd is implementing salary reductions and unpaid leave for staff from March to May to mitigate the financial impact of the Covid-19 pandemic. The company reported a 69.1% decline in FY2020 EBITDA due to operational suspensions and reduced capacity at Resorts World Genting, necessitating aggressive cost control measures to ensure business sustainability.","focusai_entities":"Genting Malaysia Bhd, Resorts World Genting","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Cost Base Sustainability","query":"What specific long-term operational adjustments and capital expenditure deferrals is Genting Malaysia implementing beyond salary cuts to ensure sustainable profitability post-pandemic, given the reduced capacity and ongoing health protocols?"},{"label":"Regulatory Impact Assessment","query":"How might the Malaysian regulatory framework evolve to support licensed operators facing severe market disruptions, considering the financial impact demonstrated by Genting Malaysia's EBITDA decline and cost-cutting measures?"}],"footnotes":""},"categories":[163,16333],"tags":[19394],"class_list":["post-15421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-genting-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=15421"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15421\/revisions"}],"predecessor-version":[{"id":15444,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15421\/revisions\/15444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15424"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=15421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=15421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=15421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}