Genting Malaysia posts Q2 net loss of RM900.42 mil

Genting Malaysia says its operating performance was severely impacted by the temporary closure of its resort operations worldwide amid the Covid-19 pandemic.

KUALA LUMPUR: Genting Malaysia Bhd recorded a net loss of RM900.42 million in the second quarter ended June 30 against a net profit of RM416.48 million in the same period last year.

In a filing with Bursa Malaysia, the group said its revenue plunged to RM114.91 million versus RM2.60 billion a year ago.

“The group’s operating performance was severely impacted by the temporary closure of its resort operations worldwide amid the Covid-19 pandemic.

“Nevertheless, several properties have resumed operations with limited capacity since mid-June 2020,” the resorts and casino operator said.

As the pandemic situation continues to evolve, Genting Malaysia expects the tourism, leisure and hospitality and gaming industries to see slow recovery.

In a separate filing, Genting Malaysia also announced that its chairman and chief executive, Lim Kok Thay, has been re-designated as deputy chairman and chief executive of the company today.

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