PETALING JAYA: Resort-owner Genting Malaysia Bhd is to cut jobs and restructure its operations because of the loss of business caused by restrictions to control the Covid-19 pandemic.
Genting owns resort hotels and a casino at Genting Highlands and resorts in Langkawi and Terengganu. All hotels in Malaysia have been closed since March 18 as part of a national shutdown to stop Covid-19 infections.
A senior vice-president, Quan Cher Siong, was quoted in a media report today as saying that the company had to restructure its Malaysian operations, which would mean “retrenching surplus labour, offering voluntary separation and mutual separation schemes”.
He was reported to have said in an internal memo to employees that the company expected business recovery to be very challenging. “When business operations resume, we will face challenges to regain the level of business our company saw prior to the pandemic,” he said.
In a quarterly report to the stock exchange on Thursday, Genting Malaysia reported a net loss of RM417.96 million because of business disruptions in its worldwide operations.
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