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Short if Genting sg give loan to Genting Hk.. just like SCI to SMM previously. If not, no pt shorting atm
thanks for sharing.
Are you vested/ shorting?
Are you vested/ shorting?
wait4opp ( Date: 27-Aug-2020 14:36) Posted:
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Genting Business Empire Founded on Breezy Malaysian Hilltop Is Stumbling
(Bloomberg) -- One of Southeast Asia&rsquo s biggest conglomerates faces its gravest challenge yet as the pandemic roils Genting group&rsquo s collection of casinos, cruises and resorts.
Cracks were already starting to show even before cruise operator Genting Hong Kong Ltd. said it would suspend payments to creditors. This week, the group holding company and a Malaysian unit could show some of their worst declines to earnings as second-quarter results are due.
Earnings Estimates for 2020
Genting adds to a growing list of global business empires whose reliance on travel and leisure made them vulnerable to border closures and restrictions imposed by countries seeking to curb the spread of the coronavirus. The conglomerate has resorted to unprecedented moves to adapt, including embarking on its first group-wide pay cuts and shrinking its workforce at its Malaysian unit.
&ldquo There&rsquo s a risk of course of a related party transaction with one of the Genting group bailing out Genting HK and if that happens, then clearly the group can be hurt,&rdquo said Mak Yuen Teen, associate professor at the National University of Singapore Business School, who specializes in corporate governance.
(Bloomberg) -- One of Southeast Asia&rsquo s biggest conglomerates faces its gravest challenge yet as the pandemic roils Genting group&rsquo s collection of casinos, cruises and resorts.
Cracks were already starting to show even before cruise operator Genting Hong Kong Ltd. said it would suspend payments to creditors. This week, the group holding company and a Malaysian unit could show some of their worst declines to earnings as second-quarter results are due.
| Genting Bhd.&rsquo s net income seen shrinking 75% from a year ago to 515 million ringgit ($123 million) in 2020Genting Malaysia Bhd. set to swing into 227 million ringgit net loss this year, from 1.5 billion ringgit profit in 2019Genting Singapore Ltd. seen reporting S$128 million net loss for 2020, from S$678 million ($495 million) net income last year |
Genting adds to a growing list of global business empires whose reliance on travel and leisure made them vulnerable to border closures and restrictions imposed by countries seeking to curb the spread of the coronavirus. The conglomerate has resorted to unprecedented moves to adapt, including embarking on its first group-wide pay cuts and shrinking its workforce at its Malaysian unit.
&ldquo There&rsquo s a risk of course of a related party transaction with one of the Genting group bailing out Genting HK and if that happens, then clearly the group can be hurt,&rdquo said Mak Yuen Teen, associate professor at the National University of Singapore Business School, who specializes in corporate governance.