Listed in 1989, Genting Malaysia Berhad (GENM) is a household name in Malaysia. It owns Resorts World Genting, a hill resort located in Genting Highlands which is about an hour’s drive away from Kuala Lumpur. Resorts World Genting offers visitors a wide variety of dining, retail, and entertainment options, and a welcome respite from Malaysia’s tropical heat. But most importantly, it operates a casino. I recently visited the resort on a weekday and was surprised to find how crowded it was; it was flooded with tourists, both local and foreign.
2018 was a tough year for GENM as it was hit with RM1.8 billion in impairment loss on its promissory notes, higher annual casino license fees and duties, and a litigation battle with Walt Disney and Twenty-First Century Fox.
Here are 11 things I learned from the 2019 Genting Malaysia AGM:
1. Revenue grew 6.4% year-on-year to RM9.9 billion
...