{"id":18047,"date":"2021-05-19T15:26:36","date_gmt":"2021-05-19T15:26:36","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18047"},"modified":"2026-04-23T19:25:02","modified_gmt":"2026-04-23T22:25:02","slug":"genting-malaysia-stock-down-5-after-rise-in-covid-19-cases","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-stock-down-5-after-rise-in-covid-19-cases","title":{"rendered":"Genting Malaysia stock down 5% after rise in Covid-19 cases"},"content":{"rendered":"\n<p>Malaysia is facing a rise in Covid-19 cases and authorities are evaluating a stricter lockdown which could affect Genting Malaysia&#8217;s operations.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Malaysia.- <strong>The Ministry of Health has reported a record high of 6,075 new Covid cases<\/strong>\u00a0in 24 hours. The news caused <strong>Genting Malaysia stock to drop 5 per cent\u00a0<\/strong>due to fears a new lockdown could be announced.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/rwg-casino-complex-forced-to-close-for-two-weeks\">Genting Malaysia<\/a>&#8216;s Resorts World Genting (RWG) reopened on February 15 after<strong>\u00a0being closed for two weeks\u00a0<\/strong>due to a wave of Covid-19 infections.<\/p>\n\n\n\n<p>At that time, Genting Malaysia announced that&nbsp;<strong>essential resort-based services at Resorts World Genting<\/strong>, including security, firefighting, utilities and clinics, would remain operational.<\/p>\n\n\n\n<p>In April, Maybank Investment Bank forecast\u00a0<strong>Genting Malaysia would record a core net loss of US$93.5m for 2021<\/strong>.<\/p>\n\n\n\n<p>Analysts expect Genting Malaysia\u00a0<strong>will see its earnings recover in 2022<\/strong>\u00a0thanks to the opening of Genting SkyWorlds, Genting Malaysia\u2019s new outdoor theme park.\u00a0<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-issues-us1-0bn-in-notes-to-refinance-borrowings\">The company<\/a>\u00a0issued\u00a0<strong>3.882 per cent senior unsecured notes priced at US$1bn<\/strong>\u00a0in order to refinance existing borrowings and raise cash for capital needs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Malaysia is facing a rise in Covid-19 cases and authorities are evaluating a stricter lockdown which could affect Genting Malaysia&#8217;s operations.<\/p>\n","protected":false},"author":176,"featured_media":18062,"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's stock experienced a 5% decline following a record surge in COVID-19 cases in Malaysia, raising concerns about a potential stricter lockdown impacting its Resorts World Genting operations. Analysts project a core net loss for Genting Malaysia in 2021, with recovery anticipated in 2022 driven by the opening of Genting SkyWorlds, while the company recently issued US$1bn in senior unsecured notes for refinancing and capital expenditure.","focusai_entities":"Genting Malaysia, Ministry of Health, Maybank Investment Bank, Resorts World Genting, Genting SkyWorlds","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR\/NGR Impact?","query":"What is the projected impact on Genting Malaysia's Q2\/Q3 GGR and NGR if a full lockdown is implemented for an extended period, and how does this affect their operational leverage?"},{"label":"SkyWorlds ROI?","query":"How will the potential lockdown affect the timeline and ROI projections for the Genting SkyWorlds theme park opening and its anticipated contribution to 2022 earnings recovery?"}],"footnotes":""},"categories":[163,16333],"tags":[19394],"class_list":["post-18047","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\/18047","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=18047"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18047\/revisions"}],"predecessor-version":[{"id":18080,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18047\/revisions\/18080"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18062"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}