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Time Name Type Price Vol
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Name Last Change
Jiutian Chemical0.052+0.001
Vicplas Intl0.345-0.105
OEL0.019+0.001
Sembcorp Marine0.143+0.001
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News - Detailed News Story

Genting Sing

Stock Chart
Last Done 0.680
Change +0.005 (+0.74%)
Volume 4,481.2
Range 0.675 - 0.685

Related News

Genting S'pore shares sold off on bleak results, no dividend

11 Aug 2020 09:00

Resorts World Sentosa had to suspend all its offerings, including SEA Aquarium (above), Universal Studios Singapore, hotels and the casino itself from April 6 to June 30. ST PHOTO: JOEL CHAN

By Grace Leong,Business Correspondent

Investors dumped Genting Singapore's shares yesterday, a day after the listed casino operator posted its worst-ever quarterly performance and did not declare an interim dividend for the first half, despite sitting on a huge net cash pile of about $3.3 billion.

That, according to several analysts, was below their expectations, even as the board said it "recognises shareholders' interests" and "has intentions to declare a final dividend for full-year 2020, if necessary, out of its retained profit". The company had issued an interim dividend of 1.5 cents a share a year ago.

Genting Singapore fell as much as 5 per cent to 67.5 cents before closing down 4.23 per cent or three cents at 68 cents. This came after it logged a $163.3 million net loss for the second quarter, reversing a $168.4 million net profit from a year ago.

Making zero revenue amid a shutdown of nearly three months in the second quarter as the coronavirus pandemic disrupted global travel and tourism, was "devastating".


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Source: Straits Times
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