planning to reduce staff pay<\/a><\/em><\/strong> to ease the financial burden.<\/p>\n\n\n\nIn an internal memo first quoted by Malay Mail, Genting Malaysia’s Senior Vice-President of Human Resources, Quan Cher Siong, said the company had to recalibrate its costing structure.<\/p>\n\n\n\n
“During this prolonged closure, our company continues to incur significant losses and the outlook remains uncertain as the pandemic evolves resulting in lower personal disposable income, change in customer behaviour, restrictions on mass gatherings, social distancing requirements and strict operating protocols to protect our customers and employees.<\/p>\n\n\n\n
“For these reasons, we foresee our business recovery to be very challenging,” he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Operator looking to restructure its business as part of efforts to ride the financial storm created by the Covid-19 pandemic.<\/p>\n","protected":false},"author":2,"featured_media":6566,"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, a prominent casino operator, is undertaking a significant business restructuring, including potential job reductions and salary adjustments, to mitigate substantial financial losses incurred from prolonged resort closures due to the COVID-19 pandemic. The company anticipates a challenging recovery given the evolving market dynamics, reduced consumer disposable income, and new operational constraints. This recalibration of its costing structure is a direct response to the uncertain outlook and operational challenges.","focusai_entities":"Genting Malaysia, Quan Cher Siong","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Restructuring Impact Analysis","query":"What is the projected financial impact of Genting Malaysia's restructuring on its GGR and NGR forecasts for the next 12-24 months, considering the anticipated changes in operational capacity and consumer spending?"},{"label":"Regulatory Implications","query":"How might the proposed workforce reductions and operational recalibrations by Genting Malaysia influence its B2C licensing obligations and ongoing regulatory compliance within the Malaysian jurisdiction?"}],"footnotes":""},"categories":[28,161,16333],"tags":[29,19394,226],"class_list":["post-6768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-daily-news","category-south-east-asia-news","tag-casino","tag-genting-malaysia","tag-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6768","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=6768"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6768\/revisions"}],"predecessor-version":[{"id":777009477,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6768\/revisions\/777009477"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/6566"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=6768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=6768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=6768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}