Maybank Investment Bank forecasts that Genting Malaysia will record a core net loss of US$93.5m for 2021.<\/p>\n\n\n\n\n\n\n\n
Malaysia.-\u00a0Genting Malaysia Bhd\u00a0<\/strong>could record a full-year\u00a0core net loss of MYR384.8m (US$93.5m) in 2021<\/strong>, compared to a core net profit of MYR137.9m in 2020.<\/p>\n\n\n\n Maybank Investment Bank said the company will see its earnings recover in 2022<\/strong>\u00a0thanks to the opening of Genting SkyWorlds, Genting Malaysia’s new outdoor theme park. It expects company EBITDA to grow by 131 per cent year-on-year<\/strong>.\u00a0<\/p>\n\n\n\n Fitch Ratings Inc. has previously reported\u00a0the casino operator could recover from the Covid-19 pandemic \u201cin one or two years\u201d<\/a>\u00a0if it maintains financial discipline and operating flexibility.<\/p>\n\n\n\n Due to the Covid-19 pandemic, Genting Malaysia\u00a0suspended operations from January 2021<\/a>\u00a0until February 16 and implemented salary cuts for staff<\/a>\u00a0from March to May inclusive to reduce costs. <\/p>\n\n\n\n In 2020, revenue declined 57.3 per cent to MYR4.53bn<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":" Maybank Investment Bank forecasts that Genting Malaysia will record a core net loss of US$93.5m for 2021.<\/p>\n","protected":false},"author":176,"featured_media":17061,"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 is projected by Maybank Investment Bank to incur a core net loss of US$93.5m in 2021, a reversal from 2020's profit, primarily due to COVID-19 operational suspensions and cost-cutting measures. However, the company is anticipated to achieve significant earnings recovery and 131% EBITDA growth in 2022, driven by the launch of Genting SkyWorlds. Fitch Ratings previously indicated a 1-2 year recovery timeline contingent on financial discipline.","focusai_entities":"Genting Malaysia Bhd, Maybank Investment Bank, Fitch Ratings Inc., Genting SkyWorlds","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"SkyWorlds Revenue Impact","query":"What specific revenue contribution and visitation metrics are projected for Genting SkyWorlds in 2022, and how does this align with pre-pandemic leisure segment performance?"},{"label":"Capital Structure Resilience","query":"Given the projected core net loss and previous revenue decline, what is Genting Malaysia's current debt-to-equity ratio, and how does its liquidity position support the anticipated 2022 recovery and future capital expenditures?"}],"footnotes":""},"categories":[163,16333],"tags":[19394],"class_list":["post-17060","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\/17060","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=17060"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17060\/revisions"}],"predecessor-version":[{"id":17093,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17060\/revisions\/17093"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17061"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=17060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=17060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=17060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}