Genting Malaysia<\/a><\/em><\/strong> published its 4Q19 results on Thursday, revealing a substantial 58.4% year on year decline in net profit due to a slight dip in net revenue during the period<\/p>\n\n\n\nDespite this decline, for the full-year ending December 31, the group recorded a net profit of MYR1.40 billion compared to a loss of MYR19.6 million the previous year. <\/p>\n\n\n\n
The operator said it remained optimistic for 2020, but raised concerns over the on-going Coronavirus crisis impacting the gaming, entertainment and hospitality sectors.<\/p>\n\n\n\n
“The expansion of the global economy is expected to modestly improve in 2020 as market sentiments gradually recover following potentially lower global trade tensions. <\/p>\n\n\n\n
“However, downside risks are more pronounced due to heightened global concerns over the impact of the Coronavirus Disease 2019 (COVID-19) on the global economy. Additionally, concerns over protracted geopolitical tensions and policy uncertainties remain,” Genting Malaysia said in a statement. <\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Despite a poor performance in the last quarter of the year, the company posted a full year profit of MYR1.40 billion.<\/p>\n","protected":false},"author":2,"featured_media":0,"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 reported a full-year 2019 net profit of MYR1.40 billion, recovering from a prior-year loss, despite a significant 58.4% decline in 4Q19 net profit. The integrated resort operator expressed optimism for 2020 but highlighted substantial downside risks due to the escalating Coronavirus crisis impacting global gaming, entertainment, and hospitality verticals.","focusai_entities":"Genting Malaysia","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"COVID-19 Impact Mitigation","query":"What specific operational adjustments or strategic pivots is Genting Malaysia implementing to mitigate the projected revenue impact from the Coronavirus crisis across its diverse gaming and hospitality verticals?"},{"label":"Capital Allocation Strategy","query":"How will the improved full-year profitability influence Genting Malaysia's capital allocation strategy for 2020, particularly concerning ongoing development projects or potential M&A activities, given the current market uncertainties?"}],"footnotes":""},"categories":[160,163,16333],"tags":[226],"class_list":["post-3985","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-finance-news","category-south-east-asia-news","tag-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/3985","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=3985"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/3985\/revisions"}],"predecessor-version":[{"id":4039,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/3985\/revisions\/4039"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=3985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=3985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=3985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}