Kong Han’s appointment follows the resignation of Lim Kok Thay.<\/p>\n\n\n\n\n\n\n\n
Malaysia.- Genting Berhad<\/strong> has announced the appointment of\u00a0Dato\u2019 Sri Tan Kong Han<\/strong>\u00a0as its new CEO, effective as of March 1. Kong Han has spent 18 years as the chief operating officer, president and executive director of the company. His appointment follows the resignation of former CEO\u00a0Lim Kok Thay<\/strong>, who continues as executive chairman of the group.<\/p>\n\n\n\n The company said: “Under Tan Sri Lim\u2019s stewardship, Genting Berhad and its subsidiaries today have operations spanning across the globe from its origins in Malaysia, and have expanded its operations in leisure and hospitality, oil palm plantations, power generation, oil and gas and property development; and invested in life sciences and biotechnology activities which will shape individual lives.”<\/p>\n\n\n\n Tan Sri Lim Kok Thay, said: \u201cOn behalf of the board, I would like to congratulate Dato\u2019 Sri Tan Kong Han on his promotion and new appointment. He replaces me as chief executive officer to lead and oversee the dayto-day operations of Genting Berhad, thus enabling me to focus on my duty as the executive chairman of the board and my other duties within the Genting Group. Dato\u2019 Sri Tan joined the company in 2007 as its president and COO, assumed the role of director in 2020, and is now stepping into the CEO role as part of a multi-year succession plan.”<\/p>\n\n\n\n\n\n For the fourth quarter of 2024, Genting Malaysia\u00a0<\/strong>reported revenue of RM2.68m (US$604.3m) while adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was RM180.6m (US$41m), down 78.6 per cent\u00a0year-on-year<\/a>\u00a0and 86.2 per cent\u00a0quarter-on-quarter<\/a>. The decline was mainly attributed to net unrealised foreign exchange translation losses on the group\u2019s USD-denominated borrowings.<\/p>\n\n\n\n The company posted a loss before taxation (LBT) <\/strong>of RM368.2m and a net loss of RM485.6m. Excluding the effect of the unrealised foreign exchange translation, the group would have reported LBT of RM11.3m and a net loss of RM128.7m.<\/p>\n\n\n\n For full-year 2024,\u00a0Genting Malaysia\u2019s revenue increased by 7 per cent\u00a0to RM10.7bn (US$2.41bn) while adjusted EBITDA grew by 1 per cent to RM2.92bn (US$658.4m).\u00a0In Malaysia, the group\u2019s leisure and hospitality operations reported a 6 per cent growth in revenue to RM6.28bn (US$1.42bn) while adjusted EBITDA was up 1 per cent to RM2.1bn (US$473.5m).<\/p>\n","protected":false},"excerpt":{"rendered":" Kong Han’s appointment follows the resignation of Lim Kok Thay.<\/p>\n","protected":false},"author":176,"featured_media":777015964,"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 Berhad has appointed Dato\u2019 Sri Tan Kong Han as its new CEO, effective March 1, following a multi-year succession plan and the resignation of Lim Kok Thay, who remains executive chairman. Concurrently, Genting Malaysia reported a Q4 2024 net loss of RM485.6m, primarily due to unrealised foreign exchange translation losses, despite full-year revenue growth of 7 per cent.","focusai_entities":"Genting Berhad, Dato\u2019 Sri Tan Kong Han, Lim Kok Thay, Genting Malaysia, Genting Group","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.85), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Succession Plan Impact","query":"How might Dato\u2019 Sri Tan Kong Han's extensive operational tenure influence Genting Berhad's strategic direction, particularly regarding its diversified portfolio and capital allocation priorities, compared to the previous leadership's focus?"},{"label":"Financial Performance Outlook","query":"Given Genting Malaysia's Q4 net loss primarily due to unrealised foreign exchange translation losses, what are the projected hedging strategies or capital structure adjustments to mitigate future currency volatility impacts on NGR and profitability?"}],"footnotes":""},"categories":[157,16333],"tags":[24657,19394],"class_list":["post-777023574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-berhad","tag-genting-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777023574","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=777023574"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777023574\/revisions"}],"predecessor-version":[{"id":777023592,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777023574\/revisions\/777023592"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777015964"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777023574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777023574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777023574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Genting Malaysia reports net loss for Q4<\/h2>\n\n\n\n