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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Genting Malaysia    GENM   MYL4715OO008

GENTING MALAYSIA

(GENM)
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Genting Malaysia : invests over $800 million in theme park, plans Q2 launch

02/23/2021 | 12:25am EST
The logo of Genting Malaysia Berhad is seen at Genting Highlands at the state of Pahang outside Kuala Lumpur

KUALA LUMPUR (Reuters) - Genting Malaysia Bhd has invested more than $800 million in a new theme park targeted for opening in the second quarter of this year, the casino operator said on Tuesday.

The hospitality and leisure group said it was "putting the finishing touches" to the outdoor theme park, Genting SkyWorlds, which will incorporate 20th Century Studios brands and intellectual properties among its rides and attractions.

The park is located some 6,000 feet above sea level at Genting Highlands.

Genting Malaysia's head of business operations and strategies, Lee Thiam Kit, said the group was committed to launching the park while the economy was less certain during the coronavirus pandemic. "We are going to see that it opens," he said in a virtual briefing.

Malaysia has been easing movement restrictions over the past weeks after a wave of COVID-19 infections towards the end of last year prompted a strict lockdown in January.

Resorts World Genting, a property owned by Genting Malaysia, said on its website it resumed operations last Tuesday.

(Reporting by Liz Lee; Editing by Christian Schmollinger and Subhranshu Sahu)


© Reuters 2021
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Financials
Sales 2020 4 586 M 1 131 M 1 131 M
Net income 2020 -1 523 M -375 M -375 M
Net Debt 2020 6 271 M 1 546 M 1 546 M
P/E ratio 2020 -11,4x
Yield 2020 5,90%
Capitalization 16 677 M 4 110 M 4 113 M
EV / Sales 2020 5,00x
EV / Sales 2021 2,94x
Nbr of Employees 19 588
Free-Float 47,6%
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 3,15 MYR
Last Close Price 2,95 MYR
Spread / Highest target 35,6%
Spread / Average Target 6,84%
Spread / Lowest Target -32,2%
EPS Revisions
Managers and Directors
NameTitle
Kok Thay Lim Deputy Chairman & Chief Executive Officer
Choong Yan Lee President, COO & Executive Director
Poy Yong Koh Chief Financial Officer
Alwi bin Jantan Chairman
Way En Yong Senior Vice President-Information Technology