KUALA LUMPUR: Genting Malaysia Bhd
’s net loss was lowered to RM946.83 million for the yr ended Dec 31, 2021 (FY2021) from RM2.26 billion for FY2020.
Revenue slipped to RM4.16 billion versus RM4.53 billion the yr earlier than, due to decrease income from the leisure and hospitality enterprise in Malaysia by RM1,616.8 million or 52 per cent.
This is principally due to the decline within the general enterprise quantity from gaming and non-gaming segments following the re-imposition of varied COVID-19 restrictions by the federal government through the yr, it mentioned in a submitting with Bursa Malaysia.
For the fourth quarter ended Dec 31, 2021, it had returned to the black, recording a net revenue of RM174.12 million from a net loss of RM240.85 million whereas income was up by 81 per cent to RM1.89 billion in opposition to RM1.04 billion registered beforehand.
The larger income derived from the leisure and hospitality enterprise in Malaysia by RM317.2 million or 49 per cent, primarily due to larger enterprise quantity from the gaming and non-gaming segments after Resorts World Genting resumed its operations on Sept 30, 2021, adopted by the lifting of inter-state journey restrictions since Oct 11, 2021.
The board of administrators has declared a particular single-tier dividend of 9 sen per bizarre share to be paid on March 31, 2022.
“While the outlook for worldwide tourism is progressively enhancing, uncertainties surrounding COVID-19 developments will proceed to pose headwinds to world journey.
“Nevertheless, larger vaccination charges worldwide and the introduction of vaccine passports in sure international locations will help the restoration of the tourism, leisure and hospitality industries, together with the regional gaming sector,” it mentioned.
Against this backdrop, the group stays cautiously optimistic on the near-term prospects of the leisure and hospitality business however is cautious of the elevated unfold of COVID-19 variants. – Bernama
