Business empire founded on breezy Malaysian hilltop is stumbling


Earnings estimates for 2020
Genting Bhd’s net income seen shrinking 75% from a year ago to RM515 million in 2020

Genting Malaysia Bhd set to swing into RM227 million net loss this year, from RM1.5 billion profit in 2019

Genting Singapore Ltd seen reporting S$128 million net loss for 2020, from S$678 million net income last year


https://www.theedgemarkets.com/article/business-empire-founded-breezy-malaysian-hilltop-stumbling


What !!! Genting Bhd still can make profit this year !!

Crystal Cruises: Parent Company ‘Not Going Out of Business’



https://www.travelmarketreport.com/articles/Crystal-Cruises-Parent-Company-Not-Going-Out-of-Business

Hibiscus Petroleum Berhad - Bottom Line Hit By Impairments

Given the levels of oil prices currently, we are conservatively assuming that the Group will deliver 10 offtakes (against 12 guided by the management) going forward, at an average oil price of USD45/bbl. Catalyst for the Group at this current operating climate is the acquisition of a new producing asset which will boost its earnings immediately. We maintain our earnings forecast and DCF-based TP of RM0.65.


https://klse.i3investor.com/servlets/ptres/56448.jsp

Genting-listed companies unlikely to partake in Genting Hong Kong bailout: Nomura

https://www.asgam.com/index.php/2020/08/24/genting-listed-companies-unlikely-to-partake-in-genting-hong-kong-bailout-nomura/

Genting Hong Kong’s long-term borrowings amounted to US$2,523 million compared with its cash balance of USD595.12 million as at Dec 31, 2019

Genting Hong Kong has a net debt position of USD 2,144 million as at 31 Dec 2019 ( annual report 2019).

Genting Hong Kong also has total assets of USD 7,977 millions. Property , plant and equipment worth USD 5,574 millions.

Maybank has USD 350 million loan exposure to Genting HK

RHB also has USD 100 million loan exposure as well.

By disposing all Genting HK assets, I think Genting HK able to pay back all the debts. That's why Maybank and RHB share price wont be affected much.

Covid-19 dijangka berakhir kurang dua tahun: WHO

https://www.sinarharian.com.my/article/97829/KHAS/Koronavirus/Covid-19-dijangka-berakhir-kurang-dua-tahun-WHO

The covid-19 pandemic will be over by the end of 2021, says Bill Gates

https://www.economist.com/international/2020/08/18/the-covid-19-pandemic-will-be-over-by-the-end-of-2021-says-bill-gates

Based on Genting Hong Kong’s FY19’s accounts, it has over US$5bil worth of assets versus a debt of over US$2bil. Its short-term debt stood at US$200 or about RM835mil.

“In terms of balance sheet, it is mainly a cash flow issue. One option is disposing some of these assets to pay creditors, ” says Tan, who points out that the company’s woes pre-dates the outbreak of Covid-19 and has been loss-making in the last four financial years.

“The cruise business is definitely harder hit because of the huge overhead expenses and fixed costs and at the same time operators still can’t operate.



https://www.thestar.com.my/business/business-news/2020/08/22/kok-thays-cruise-challenge

大马经济渐入佳境/李兴裕

旅游业回暖

国内旅游已回暖，这已反映在酒店平均住客率逐步回升的走势上。

8月平均入住率为33%，相对4至6月期间只有8.6%至16.2%。在一些州属和地区，例如吉兰丹和登嘉楼的酒店入住率高达70至80%，波德申和云顶高原也高达70至80%，槟城约50%及怡保50%

https://klse.i3investor.com/blogs/EconomicAspect/2020-08-20-story-h1512449539.jsp

大马经济渐入佳境/李兴裕

旅游业回暖

国内旅游已回暖，这已反映在酒店平均住客率逐步回升的走势上。

8月平均入住率为33%，相对4至6月期间只有8.6%至16.2%。在一些州属和地区，例如吉兰丹和登嘉楼的酒店入住率高达70至80%，波德申和云顶高原也高达70至80%，槟城约50%及怡保50%

https://klse.i3investor.com/blogs/EconomicAspect/2020-08-20-story-h1512449539.jsp

Who is the largest shareholder of Genting Hong Kong Limited?
The Company's largest shareholder is Golden Hope Limited (as trustee of Golden Hope Unit Trust).

major shareholders of Genting Hong Kong

Lim Kok Thay Family 5,504,990,232 64.9%
Kok Thay Lim 915,272,261 10.8%
GMT Capital Corp. 28,660,000 0.34%
Norges Bank Investment Management 23,284,532 0.27%
M&G Investment Management Ltd. 11,500,000 0.14%

Who is the largest shareholder of Genting Hong Kong Limited?
The Company's largest shareholder is Golden Hope Limited (as trustee of Golden Hope Unit Trust).

major shareholders of Genting Hong Kong

Lim Kok Thay Family 5,504,990,232 64.9%
Kok Thay Lim 915,272,261 10.8%
GMT Capital Corp. 28,660,000 0.34%
Norges Bank Investment Management 23,284,532 0.27%
M&G Investment Management Ltd. 11,500,000 0.14%