Genting Singapore

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18 May 2020 Genting RE-DOMICILIATION OF 7 WHOLLY-OWNED SUBSIDIARIES 
from Isle of Man and British Virgin Islands to Singapore with effect from 18 May 2020
(click for details)

Stay home and stay safe, everyone.

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27 May 2020 Dividend 2.5cents for Genting
xd 10 Jun 2020
eAGM today, 28 May 2020
(click for sgx announcement)

Stay home and stay safe, valuebuddies.

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30 June 2020 1H result ended 30 Jun 2020 to be release on 6 Aug 2020, after trading hours.
https://links.sgx.com/1.0.0/corporate-an...208a0bd6d2

Wear mask and keep your distance, everyone.

[dreamybear]

I noted the word 'significant' in the ST article. I wld have thought our govt's covid relief packages wld help to relieve the wage costs, and the resort has started to open. Perhaps a significant portion of the workforce are foreigners and do not qualify ? In any case, is the pandemic starting to rear its ugly head ?

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Resorts World Sentosa to retrench staff amid 'devastating impact' of Covid-19 pandemic
SINGAPORE - Integrated resort operator Resorts World Sentosa (RWS) will be laying off a significant number of staff as it struggles to cope with the impact to tourism brought about by Covid-19......
https://www.straitstimes.com/singapore/m...-impact-of

圣淘沙名胜世界裁员多为大马员工
https://johor.chinapress.com.my/20200715...%E5%B7%A5/

[LionFlyer]

The pain is just starting to hit now. It will get worst in the coming months IMO because government support will tail off with the exit of the CB phases but real demand is expected to remain weak till end of the year.

If your cost structure remains unchanged (pre-covid), then this would be the period of adjustment/retrenchment.

[brattzz]

it's 2k out of 7k employees, did genting take gov's COVID19 support grants? tough call now.

[desmondxyz]

it's 2k out of 7k employees, did genting take gov's COVID19 support grants? tough call now.

of cos they did...otherwise the retrenchment would have come much earlier ...

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1H Result as at 30 Jun 2020
Rev $0.4b (vs 1.2b)
Operating loss $120m (vs +473m)
Net loss $116m (vs +373m)
Div NIL (vs 1.5cts)
barring any unforeseen circumstances has intentions to declare a final dividend for the financial year ending 31 December 2020,

Moving forward, we believe our customer-centric offerings and commitment to provide unique and differentiated experiences are key to our progress and an enabler to traverse through this crisis. At the 13th Annual TTG China Travel Awards 2020 which recognises the best of Greater China’s travel industry, RWS was crowned the winner of the Best Integrated Resort (International). A new award title launched in 2020, RWS is proud to be chosen as the first winner of this prestigious title. 

In relation to our Japan IR investment opportunity, the Group has participated in the Request-forConcept (RFC) by Yokohama City and will continue to monitor the developments in anticipation of the launch of Request-for-Proposal (RFP) in the second half of 2020.

Stay home and stay healthy, valuebuddies.

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Genting
will release its full year financial results for the year ended 31 December 2020 on Tuesday, 9 February 2021, after trading hours.

Stay home and stay safe, everyone.

[weijian]

Wow~ Funding 6.8billion over the next 8 years with internal resources. A very cash generative business since it opened for business but unfortunately, much accrued winnings are used to increase their stakes at rolling on the dice.

It might be better to be the recipients of the 6.8billion instead of a Genting Spore shareholder?

How will the Company finance its approximately S$6.8 billion investment to transform RWS? Would the investment impact earnings significantly in the near term?

On 10 November 2023, the Board of Directors announced that it has approved a total investment of around S$6.8 billion and this sum includes amounts which have been spent and the remainder to be invested over the next eight years. We are confident that this investment will firmly anchor RWS as the most sought-after tourism destination in Asia, and propel the Group’s strong future growth. The investment will be funded through internal resources and it is not expected to have a material impact to the Company’s earnings in the near term.

AGM Q&A
https://links.sgx.com/FileOpen/GENS%20-%...eID=796217