Genting Berhad: Comprehensive Corporate Profile

Quick Facts / Company Snapshot

• Stock Name: GENTING
• Stock Code: 3182
• Listing: Main Market of Bursa Malaysia Securities Berhad
• Total Revenue (2024): RM27,717.0 million
• Adjusted EBITDA (2024): RM8,781.8 million
• Profit Before Taxation (2024): RM3,300.3 million
• Net Profit (2024): RM2,021.3 million
• Total Assets (2024): RM105,093.0 million
• Total Equity (2024): RM53,491.3 million
• Cash and Cash Equivalents (2024): RM22,403.6 million
• Total Borrowings (2024): RM39,228.6 million
• Dividend Per Share (2024): 11.0 sen
• Total Dividend Payout (2024): RM577.6 million
• Number of Employees: About 54,000
• Global Presence: 9 Countries
• Hotel Room Inventory: Over 18,000 rooms
• Plantation Landbank: About 243,200 hectares

Company Overview

Genting Berhad stands as a premier multinational corporation and the investment holding and management parent of the Genting Group. Established in 1965 and listed on the stock exchange in 1971, the company has evolved from a single hilltop hotel developer into a diversified global conglomerate. The organization operates under a clear vision to be a leading multinational corporation committed to enhancing shareholder value and maintaining long-term sustainable growth in its core businesses.

The company is principally involved in investment holding and management services, orchestrating a vast network of subsidiaries and affiliates. Its operational scope is immense, spanning leisure and hospitality, oil palm plantations, power generation, oil and gas, property development, and life sciences. The group’s journey began with the vision of its founder to build a mountaintop resort in Malaysia, which has since expanded into a portfolio of companies that includes listed entities and principal unlisted subsidiaries.

Leadership is provided by a seasoned Board of Directors and senior management team, adhering to core values of Hard Work, Honesty, Harmony, Loyalty, and Compassion. The company is currently celebrating a significant milestone, approaching its 60th Diamond Jubilee in 2025. This celebration is themed around the concepts of “Consolidate, Strengthen, and Enduring,” reflecting the group’s resilience and readiness for future challenges.

The corporate structure allows Genting Berhad to leverage the expertise and core competencies of its management and operating teams across diverse sectors. This approach facilitates adaptation, innovation, and continuous improvement, which are pivotal to achieving sustained success. A robust risk management framework and strong corporate governance are integral to the company’s operations, ensuring that business decisions align with long-term value creation.

Business Segments

Genting Berhad operates through distinct business segments that contribute variously to the group’s financial health. The primary revenue driver is the Leisure and Hospitality division, followed by Plantations, Power, Oil & Gas, and Property.

Leisure and Hospitality

• Revenue (2024): RM23,014.2 million
• Percentage of Total Revenue: 83.03%
• Operational Scope: This segment includes gaming, hotels, food and beverages, theme parks, retail, entertainment and attractions, tours and travel-related services, and the development and operation of integrated resorts. It is the core business of the group, with operations spanning Malaysia, Singapore, the United States, the Bahamas, the United Kingdom, and Egypt. The division includes iconic properties such as Resorts World Genting, Resorts World Sentosa, Resorts World Las Vegas, and Resorts World New York City.

Plantation

• Revenue (2024): RM2,811.0 million
• Percentage of Total Revenue: 10.14%
• Operational Scope: This segment is involved principally in oil palm plantations in Malaysia and Indonesia, palm oil milling, and related activities. It also encompasses downstream manufacturing of palm-based products and ventures into agriculture technology (AgTech). The division manages a significant landbank and operates multiple oil mills, focusing on yield improvement and sustainable agricultural practices.

Power

• Revenue (2024 – Combined with Oil & Gas): RM1,535.2 million
• Percentage of Total Revenue: 5.54%
• Operational Scope: The power business involves the generation and supply of electric power. Operations comprise coal-fired, wind, and solar power plants located in Indonesia, China, and India. The division is currently expanding its portfolio with new solar and gas-fired power plant projects, emphasizing efficiency and renewable energy transition.

Oil & Gas

• Revenue (2024 – Combined with Power): RM1,535.2 million
• Percentage of Total Revenue: 5.54%
• Operational Scope: This segment engages in oil and gas exploration, development, and production activities. Key assets include an oil-producing field in China and gas development fields in Indonesia. The division is also moving downstream with the development of a Floating Liquefied Natural Gas (FLNG) facility.

Property

• Revenue (2024): RM213.8 million
• Percentage of Total Revenue: 0.77%
• Operational Scope: The property segment involves property development activities and property investment. It focuses on developing townships and commercial properties, primarily in Malaysia and Indonesia. Projects include Genting Indahpura, Genting Pura Kencana, and strategic land acquisitions for future development.

Investments and Others

• Revenue (2024): RM142.8 million
• Percentage of Total Revenue: 0.52%
• Operational Scope: This segment comprises revenues from management and licensing services, dividend income, and other services including utilities and information technology. It also houses the group’s life sciences and biotechnology investments, which are focused on finding treatments for neurodegenerative diseases.

History and Evolution

The history of Genting Berhad is a testament to enduring strength and visionary leadership. Founded in 1965 by the late Tan Sri Lim Goh Tong, the company began with the ambitious goal of transforming a remote mountaintop into a premier resort destination in Malaysia. This initial venture laid the foundation for what would become Resorts World Genting, the group’s flagship integrated resort.

Over the decades, the group expanded beyond Malaysia’s borders and diversified its business interests. The company was incorporated in 1968 and subsequently listed on the stock exchange in 1971. From a single 200-room hilltop hotel, the group has grown to manage over 18,000 hotel rooms globally.

In the last three decades, the group strategically consolidated its investments and strengthened its businesses to become a renowned leading conglomerate in Asia. The diversification strategy saw the group venture into non-leisure businesses, establishing itself as a leading and efficient producer in the oil palm and power industries. Ventures into property development created new townships, while oil and gas investments were undertaken to bring greater value.

Recent history highlights include the expansion into the United States with Resorts World Las Vegas and Resorts World New York City, and the solidification of its presence in Singapore through Resorts World Sentosa. The group has also made significant strides in life sciences, investing in research aimed at improving human well-being, particularly in the diagnosis and treatment of dementia.

As the group approaches its 60th anniversary in 2025, it continues to evolve under the theme of “Consolidate, Strengthen, Enduring.” The diamond jubilee logo symbolizes the group’s resilience, with the diamond shape representing the solid foundation built over six decades. The circular band signifies agility and adaptability, while the diverse colors represent the group’s key business divisions.

Products and Services

Integrated Resorts and Hospitality

• Revenue Contribution: RM23,014.2 million (Leisure & Hospitality Segment)
• Description: The group offers a comprehensive suite of leisure products under premier brands. Services include hotel accommodation, gaming facilities, theme parks, retail outlets, and entertainment attractions. Key offerings include Universal Studios Singapore, S.E.A. Aquarium, Adventure Cove Waterpark, and extensive MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities.

Palm Products

• Revenue Contribution: RM2,811.0 million (Plantation Segment)
• Description: The primary products are Crude Palm Oil (CPO), Palm Kernel (PK), and Fresh Fruit Bunches (FFB). The downstream manufacturing segment produces refined bleached deodorised palm oil, olein, stearin, biodiesel, and crude glycerine. The group also markets proprietary high-yielding oil palm planting materials like GT-9 seeds and bio-fertilizers.

Electricity Generation

• Revenue Contribution: Part of RM1,535.2 million (Power & Oil & Gas Segment)
• Description: The group generates and supplies electricity through its portfolio of power plants. This includes baseload power from coal-fired plants like the Banten Power Plant in Indonesia and the Meizhou Wan Power Plant in China, as well as renewable energy from the Jangi Wind Farm in India.

Crude Oil and Natural Gas

• Revenue Contribution: Part of RM1,535.2 million (Power & Oil & Gas Segment)
• Description: Products include crude oil produced from the Chengdaoxi block in China. The group is developing natural gas resources in the Kasuri block in Indonesia, with plans to produce Liquefied Natural Gas (LNG), ammonia, and urea.

Property Development

• Revenue Contribution: RM213.8 million (Property Segment)
• Description: Offerings include residential, commercial, and industrial properties. Key developments include the Genting Indahpura township and the Genting Industrial City. The segment also generates lease income from investment properties and operates premium outlets.

Brand Portfolio

Resorts World

• Revenue Impact: Driver of the Leisure & Hospitality segment (RM23,014.2 million)
• Description: The “Resorts World” brand is synonymous with the group’s integrated resorts globally. It encompasses flagship properties like Resorts World Genting, Resorts World Sentosa, Resorts World Las Vegas, Resorts World New York City, Resorts World Catskills, Resorts World Hudson Valley, Resorts World Bimini, and Resorts World Birmingham.

Genting

• Revenue Impact: Corporate Brand and UK Casinos
• Description: The “Genting” brand represents the corporate identity and resilience of the group. It is also used for the group’s UK casino operations, including over 30 casino properties and online gaming platforms.

Crockfords

• Revenue Impact: High-end Hospitality
• Description: A premier luxury hotel brand within the group’s portfolio, known for exclusivity and high service standards. Crockfords Cairo represents the brand’s presence in Egypt.

Universal Studios Singapore

• Revenue Impact: Key attraction within Resorts World Sentosa
• Description: A world-renowned theme park brand operated under license, serving as a major draw for the Singapore integrated resort.

Premium Outlets

• Revenue Impact: Joint Venture Contribution
• Description: Operated in partnership with Simon Property Group, this brand includes Genting Highlands Premium Outlets and Johor Premium Outlets in Malaysia, and Jakarta Premium Outlets in Indonesia.

Zouk

• Revenue Impact: Lifestyle and Nightlife
• Description: A premier nightlife brand integrated into the group’s lifestyle offerings, enhancing the entertainment value of its resorts.

Geographical Presence

Genting Berhad operates in 9 countries, managing a diverse portfolio of assets.

Singapore

• Revenue (2024): RM8,668.4 million
• Percentage of Total Revenue: 31.27%
• Operations: Home to Resorts World Sentosa, one of the largest integrated resorts in Southeast Asia. Assets include Universal Studios Singapore, S.E.A. Aquarium, multiple luxury hotels, and a casino.

Malaysia

• Revenue (2024): RM8,438.1 million
• Percentage of Total Revenue: 30.44%
• Operations: The group’s country of origin. Assets include Resorts World Genting, Resorts World Kijal, Resorts World Langkawi, and extensive plantation estates and mills. It is also the hub for property development activities in Johor.

United States and Bahamas

• Revenue (2024): RM5,732.7 million
• Percentage of Total Revenue: 20.68%
• Operations: Key properties include Resorts World Las Vegas, Resorts World New York City, Resorts World Catskills, and Resorts World Hudson Valley. In the Bahamas, the group operates Resorts World Bimini.

Asia Pacific (excluding Malaysia & Singapore)

• Revenue (2024): RM2,982.2 million
• Percentage of Total Revenue: 10.76%
• Operations: Includes power generation assets in China (Meizhou Wan) and India (Jangi Wind Farm), and oil and gas operations in China (Chengdaoxi) and Indonesia (Kasuri Block). Plantation estates are also located in Indonesia.

United Kingdom and Egypt

• Revenue (2024): RM1,895.6 million
• Percentage of Total Revenue: 6.84%
• Operations: Operates Resorts World Birmingham and over 30 casinos across the UK. In Egypt, the group operates Crockfords Cairo.

Financial Performance Analysis

The financial year 2024 demonstrated resilience for Genting Berhad amidst a challenging global economic landscape. The group maintained a stable financial position, navigating headwinds such as elevated interest rates and geopolitical tensions.

Consolidated Performance Trends

• Revenue Growth: Revenue increased by 2% to RM27.7 billion in 2024, up from RM27.1 billion in 2023. This growth was primarily driven by the improved performance of the Leisure and Hospitality division.
• EBITDA Stability: Adjusted EBITDA remained robust at RM8.8 billion, marginally lower than the previous year. This stability underscores the operational efficiency of the core businesses despite rising costs.
• Net Profit: The group recorded a net profit of RM2.0 billion for 2024, compared to RM2.3 billion in the previous year. The slight decline reflects the impact of higher operating costs and financing charges.

Trend Analysis

• 2020: Revenue RM11.6 billion; Adjusted EBITDA RM2.9 billion.
• 2021: Revenue RM13.5 billion; Adjusted EBITDA RM4.0 billion.
• 2022: Revenue RM22.4 billion; Adjusted EBITDA RM7.3 billion.
• 2023: Revenue RM27.1 billion; Adjusted EBITDA RM8.8 billion.
• 2024: Revenue RM27.7 billion; Adjusted EBITDA RM8.8 billion.

The multi-year trend indicates a strong recovery trajectory post-2020, with revenue more than doubling over the five-year period and EBITDA nearly tripling, signaling a successful rebound in operations and market demand.

Profit and Loss Analysis

Revenue Breakdown

• Total Revenue: RM27,717.0 million.
• Leisure & Hospitality: Contributed RM23,014.2 million, representing the lion’s share of income.
• Plantations: Contributed RM2,811.0 million, supported by stronger palm product prices.
• Power & Oil & Gas: Contributed RM1,535.2 million.
• Property: Contributed RM213.8 million.
• Investments & Others: Contributed RM142.8 million.

Profitability Metrics

• Adjusted EBITDA: RM8,781.8 million.
• Profit Before Taxation: RM3,300.3 million.
• Profit After Taxation: RM2,021.3 million.
• Profit Attributable to Equity Holders: RM883.0 million.
• Basic Earnings Per Share: 22.93 sen.

Expense Analysis

• Cost of Sales: RM19,617.9 million.
• Selling and Distribution Costs: RM345.1 million.
• Administration Expenses: RM3,115.7 million.
• Finance Cost: RM2,099.6 million.
• Taxation: RM1,279.0 million.

The high cost of sales relative to revenue (approximately 71%) reflects the capital and labor-intensive nature of the integrated resort and plantation businesses. Finance costs remain significant due to the capital funding exercises undertaken for expansion and refinancing.

Balance Sheet Analysis

Assets

• Total Assets: RM105,093.0 million.
• Non-Current Assets: RM77,013.1 million, primarily composed of Property, Plant and Equipment (RM48,786.4 million) and Rights of Use assets.
• Current Assets: RM28,079.9 million, including substantial cash and cash equivalents of RM22,403.6 million.

Liabilities

• Total Liabilities: RM51,601.7 million.
• Non-Current Liabilities: RM40,720.0 million, largely consisting of long-term borrowings amounting to RM36,126.1 million.
• Current Liabilities: RM10,881.7 million, comprising trade payables and short-term borrowings.

Equity

• Total Equity: RM53,491.3 million.
• Share Capital: RM3,056.2 million.
• Reserves: RM29,417.9 million.
• Non-Controlling Interests: RM21,238.4 million.

Liquidity Position

• Current Ratio: 2.58 times.
• Gearing Ratio: 43%.
• Net Assets Per Share: RM8.38.

The balance sheet reflects a strong asset base, heavily weighted towards physical properties and cash reserves. The gearing ratio of 43% indicates a manageable leverage position, allowing room for strategic investments.

Cash Flow Analysis

Operating Activities

• Net Cash From Operating Activities: RM7,123.1 million.
• Analysis: The group continues to generate strong operating cash flows, primarily driven by the leisure and hospitality division. However, this was a decrease from RM7,520.5 million in 2023, attributed mainly to lower operating profits in certain segments.

Investing Activities

• Net Cash Used In Investing Activities: RM4,063.9 million.
• Analysis: Significant outflows were recorded for the purchase of property, plant, and equipment (RM3,898.3 million) and investments in associates and joint ventures. This reflects ongoing capital expenditure for property enhancements and new developments.

Financing Activities

• Net Cash Used In Financing Activities: RM3,245.1 million.
• Analysis: Major outflows included the repayment of borrowings (RM7,445.8 million) and finance cost payments (RM2,046.5 million). These were partially offset by proceeds from new borrowings (RM8,366.6 million), indicating active capital management and refinancing activities.

Free Cash Flow Insights

• The group maintains a healthy cash balance of RM22.4 billion, providing a strong buffer for operations and strategic initiatives despite net cash outflows in investing and financing activities.

Board of Directors and Leadership Team

Tan Sri Lim Kok Thay

• Role: Executive Chairman.
• Profile: Appointed in 1976, he has served in various key positions including Chairman and Chief Executive. He holds a Bachelor of Science in Civil Engineering from the University of London and attended the Harvard Business School. He is responsible for formulating the group’s strategic direction and business development. He also chairs Genting Singapore Limited and Genting UK Plc.

Tan Sri Foong Cheng Yuen

• Role: Deputy Chairman / Independent Non-Executive Director.
• Profile: Appointed in 2016 and designated Deputy Chairman in 2019. A former Federal Court Judge with a distinguished legal career, he brings extensive experience in law and judiciary. He chairs the Nomination and Remuneration Committees.

Dato’ Sri Tan Kong Han

• Role: Chief Executive, President, and Executive Director.
• Profile: Appointed Executive Director in 2020 and Chief Executive in 2025. He previously served as President and Chief Operating Officer. He holds a Master of Arts from the University of Cambridge and has extensive experience in investment banking.

Dato’ Indera Lim Keong Hui

• Role: Deputy Chief Executive and Executive Director.
• Profile: Appointed in 2012, he holds a degree in Computer Science from the Queen Mary University of London and a Master’s in International Marketing Management. He previously held the role of Chief Information Officer and has experience in investment banking. He is the son of Tan Sri Lim Kok Thay.

Datuk Manharlal A/L Ratilal

• Role: Independent Non-Executive Director.
• Profile: Appointed in 2019, he chairs the Audit and Risk Management Committees. He holds an MBA from the University of Aston and was formerly the Executive Vice President & Group CFO of Petroliam Nasional Berhad (PETRONAS).

Madam Koid Swee Lian

• Role: Independent Non-Executive Director.
• Profile: Appointed in 2017, she had a distinguished career at Bank Negara Malaysia for over 32 years. She brings expertise in financial intelligence, consumer conduct, and debt management.

Mr. Lee Tuck Heng

• Role: Independent Non-Executive Director.
• Profile: Appointed in 2024, he retired as a Partner from PricewaterhouseCoopers Malaysia. He has over 40 years of experience in audit and corporate restructuring across various industries.

Subsidiaries, Associates, Joint Ventures

Genting Singapore Limited

• Ownership: 52.6%
• Contribution: Major revenue driver for the group.
• Profile: Operates Resorts World Sentosa. Listed on the Singapore Exchange.

Genting Malaysia Berhad

• Ownership: 49.3%
• Contribution: Significant contributor to leisure and hospitality revenue.
• Profile: Owns and operates Resorts World Genting, Resorts World New York City, Resorts World Bimini, and UK casinos. Listed on Bursa Malaysia.

Genting Plantations Berhad

• Ownership: 55.4%
• Contribution: Driver of the plantation and property segments.
• Profile: Manages extensive oil palm estates and mills in Malaysia and Indonesia. Also involved in property development and AgTech. Listed on Bursa Malaysia.

Genting Energy Limited

• Ownership: 100%
• Contribution: Energy division holding company.
• Profile: Spearheads power and oil & gas businesses, holding interests in power plants and oil blocks globally.

Resorts World Las Vegas LLC

• Ownership: 100%
• Contribution: Key leisure asset in the US.
• Profile: Develops and operates the Resorts World Las Vegas integrated resort.

Empire Resorts, Inc.

• Ownership: Indirectly held via associate Genting Empire Resorts LLC.
• Contribution: Operates Resorts World Catskills and Resorts World Hudson Valley.

TauRx Pharmaceuticals Ltd

• Ownership: 20.3% (Associate)
• Contribution: Life sciences investment.
• Profile: Focuses on research for neurodegenerative diseases like Alzheimer’s.

Physical Properties

Malaysia

• Resorts World Genting: Located at Genting Highlands, Pahang. Features 7 hotels (including First World Hotel, Genting Grand, Crockfords), theme parks, and retail complexes on freehold land.
• Wisma Genting: 25-level office building in Kuala Lumpur.
• Resorts World Kijal: Resort and golf course in Terengganu on leasehold land.
• Resorts World Langkawi: Seaside resort in Kedah on leasehold land.
• Plantations: Various estates comprising 64,300 hectares across Kedah, Perak, Melaka, Negeri Sembilan, Johor, and Sabah.

Singapore

• Resorts World Sentosa: Integrated resort on Sentosa Island spanning 49 hectares of leasehold land. Includes hotels, theme parks, and convention centers.
• Genting Centre: 13-storey commercial building on freehold land.
• Genting Jurong Hotel: Hotel building on leasehold land.

United States

• Resorts World Las Vegas: Integrated resort on 35.3 hectares of freehold land in Nevada.
• Resorts World New York City: Casino facility in Queens, New York on leasehold land.
• Miami Properties: Omni Hilton Hotel and various freehold land plots in Miami, Florida.

United Kingdom

• Resorts World Birmingham: Leasehold resort complex.
• Casinos: Over 30 freehold and leasehold properties across the UK, including locations in London, Birmingham, and Manchester.

Indonesia

• Plantations: Estates totaling 178,900 hectares in Kalimantan and West Papua.
• Banten Power Plant: Coal-fired power plant complex in West Java on leasehold land.
• Property Land: Development land in Sentul City and Jakarta.

China

• Meizhou Wan Power Plant: Coal-fired power plant in Fujian Province.
• Chengdaoxi Block: Oil-producing field in Bohai Bay.

India

• Jangi Wind Farm: Wind turbines on freehold land in Gujarat.

Bahamas

• Resorts World Bimini: Resort land, casino, and jetty on freehold land in North Bimini.

Segment-wise Performance

Leisure & Hospitality

• Operational Performance:
  • Resorts World Sentosa: Achieved strong recovery with 16.5 million visitors. RevPAR (Revenue Per Available Room) and non-gaming revenue increased. Inducted into TTG Travel Hall of Fame.
  • Resorts World Genting: Welcomed 28.1 million visitors, a 13% increase. Maintained a strong margin of 31% despite cost pressures.
  • Resorts World Las Vegas: Focused on strategic growth and improving margins. Achieved 86.8% hotel occupancy.
• Financial Performance: Segment revenue grew to RM23.0 billion. Adjusted EBITDA was robust, supported by higher business volumes across all geographies.

Plantations

• Operational Performance: FFB production was 2.07 million metric tonnes, a marginal 2% decline due to weather and replanting. The segment achieved an 11% increase in average crude palm oil prices to RM3,866 per metric tonne.
• Financial Performance: Revenue was RM2.8 billion. Higher palm product prices partially offset the impact of lower downstream sales volume.

Power

• Operational Performance: The Banten Power Plant maintained high availability despite a major scheduled maintenance outage. The Meizhou Wan Power Plant recorded strong performance driven by stable coal prices and increased generation.
• Financial Performance: Combined Power & Oil & Gas revenue was RM1.5 billion. The power division showed overall improvement driven by Chinese operations.

Oil & Gas

• Operational Performance: The Chengdaoxi block produced 2.7 million barrels of oil. Three new wells were drilled. The Kasuri block made significant progress with successful well spudding and contracts signed for FLNG infrastructure.
• Financial Performance: Revenue was impacted by lower global crude oil prices and production levels.

Property

• Operational Performance: Completed 183 residential properties. Launched new industrial units at Genting Industrial City.
• Financial Performance: Revenue increased to RM213.8 million, driven by sales in Johor townships.

Founders

The Late Tan Sri Lim Goh Tong

• Legacy: Founded the Genting Group in 1965.
• Vision: He envisioned transforming a dense tropical rainforest on a mountaintop into a world-class resort destination.
• Achievement: His perseverance led to the successful development of Genting Highlands (now Resorts World Genting), laying the groundwork for the group’s global expansion. His values of hard work and resilience continue to guide the group today.

Shareholding Pattern

• Substantial Shareholders:
  • Kien Huat Realty Sdn Berhad: Holds 43.5870% directly.
  • Parkview Management Sdn Bhd (Trustee): Deemed interest of 44.8366% via discretionary trust.
• Director Holdings:
  • Tan Sri Lim Kok Thay: Deemed interest of 44.8366%.
  • Dato’ Indera Lim Keong Hui: Deemed interest of 44.8366%.
• Public Shareholding Spread: 36.212% of shares are held by shareholders with less than 5% holdings.
• Institutional Investors: Includes major funds such as Vanguard and Blackrock as per the top 30 shareholders list.

Parent Company

Kien Huat Realty Sdn Berhad

• Relationship: Major shareholder of Genting Berhad.
• Holding: Controls over 43% of the voting shares of Genting Berhad.
• Role: As the private investment vehicle of the Lim family, it anchors the ownership structure of the Genting Group, ensuring stability and long-term strategic alignment.

Investments and Capital Expenditure Plans

Strategic Allocation

• Resorts World Sentosa (RWS 2.0): Significant investment of SGD6.8 billion committed for expansion. Projects include the new Waterfront lifestyle development, Minion Land, and the Singapore Oceanarium.
• Resorts World New York City: A transformative USD5 billion expansion plan has been unveiled, contingent on securing a full commercial casino license. This includes new gaming space, a hotel, and a convention center.
• Energy: Capital is allocated for the construction of the Dongwucha solar power plant in China and the FLNG facility in Indonesia.
• Life Sciences: Investments continue in TauRx Pharmaceuticals and the construction of the “Fontaine Vitale” stem cell facility in Bali.
• Digitalization: Substantial investments in technological refreshes, including AI integration and cloud-based building management systems, particularly at Resorts World Sentosa.

Future Strategy

Consolidate, Strengthen, Enduring

• Theme: The group’s strategy for its upcoming 60th anniversary focuses on consolidating resources and strengthening core businesses to ensure enduring success.
• Leisure & Hospitality: The focus is on revitalizing tourism offerings. In Singapore, RWS 2.0 will introduce new attractions like Harry Potter: Visions of Magic and Minion Land. In Las Vegas, the strategy involves expanding the customer database and enhancing convention business.
• Energy Transition: The group is pivoting towards renewable energy, with new solar and gas-fired power projects in China and continued operations of wind assets in India.
• Sustainability: A commitment to carbon neutrality by 2050 drives initiatives like solar power adoption in Singapore and electric vehicle infrastructure in Malaysia.
• Market Expansion: Exploring geographical diversification in the gaming industry, including close monitoring of potential casino legalization in Thailand.

Competitive Landscape

Industry Peers

• Integrated Resorts: The group operates in a competitive global market. In Singapore, it competes directly with Marina Bay Sands. In Las Vegas, it competes with major strip operators like MGM Resorts and Caesars Entertainment.
• Plantations: Competes with regional players in Malaysia and Indonesia such as IOI Corporation and Kuala Lumpur Kepong (KLK).
• Power: Competes with independent power producers in the respective operating countries (e.g., thermal power plants in Java, Indonesia).

Key Strengths

• Diversified Portfolio: A balanced mix of leisure, plantation, power, and oil & gas assets reduces reliance on a single revenue stream.
• Strong Brand Equity: The “Genting” and “Resorts World” brands are globally recognized for quality and excellence.
• Resilient Financials: A strong balance sheet with RM22.4 billion in cash reserves allows for strategic agility.
• Operational Excellence: Proven track record in managing large-scale integrated resorts and efficient plantation operations.
• Strategic Locations: Assets are located in high-growth or established markets like Singapore, Malaysia, Las Vegas, and New York.

Key Challenges and Risks

Financial Risk

• Exposure: Fluctuations in foreign currency exchange rates (USD, SGD, RMB) and interest rates.
• Mitigation: Use of hedging instruments and prudent liquidity management.

Regulatory Risk

• Exposure: Operations in highly regulated industries like gaming and energy across multiple jurisdictions. Changes in licensing laws (e.g., New York casino license bid) can impact growth.
• Mitigation: Strict compliance culture and engagement with competent legal advisors.

Operational Risk

• Exposure: Disruptions from cyber-attacks, labor shortages, or supply chain issues.
• Mitigation: Robust cybersecurity frameworks and business continuity plans.

Market Risk

• Exposure: Volatility in commodity prices (Palm Oil, Crude Oil, Coal) and competition in the tourism sector.
• Mitigation: Diversification of markets and long-term contracts (e.g., Power Purchase Agreements).

Conclusion and Strategic Outlook

Genting Berhad enters 2025 with a fortified position, leveraging six decades of experience to navigate a complex global landscape. The group’s strategic focus on “Consolidate, Strengthen, Enduring” provides a clear roadmap for sustaining growth. With major expansion projects like RWS 2.0 and the potential New York casino license on the horizon, alongside a pivot toward renewable energy and life sciences, Genting Berhad is poised to unlock significant long-term value. The 60th Diamond Jubilee marks not just a celebration of past achievements, but a confident step into a future defined by innovation, sustainability, and diversified growth.

Official Site: https://www.genting.com/

FAQ Section

1. What are the core business segments of Genting Berhad? Genting Berhad operates primarily in Leisure & Hospitality, Plantations, Power, Oil & Gas, and Property development.

2. Who is the current leader of Genting Berhad? Tan Sri Lim Kok Thay serves as the Executive Chairman of Genting Berhad.

3. What was Genting Berhad’s revenue in 2024? For the financial year 2024, Genting Berhad reported a total revenue of RM27,717.0 million.

4. Which subsidiaries are listed companies? The key listed subsidiaries are Genting Singapore Limited, Genting Malaysia Berhad, and Genting Plantations Berhad.

5. Does Genting Berhad operate in the United States? Yes, the group operates Resorts World Las Vegas, Resorts World New York City, Resorts World Catskills, and Resorts World Hudson Valley.

6. What is the dividend payout for 2024? The company declared a total dividend of 11.0 sen per ordinary share for the year 2024.

7. What is Genting Berhad’s strategy for 2025? The strategy focuses on the theme “Consolidate, Strengthen, Enduring,” prioritizing resource consolidation, business strengthening, and sustainable growth for its 60th Diamond Jubilee.

8. How many countries does Genting Berhad operate in? Genting Berhad has operations in 9 countries, including Malaysia, Singapore, Indonesia, India, China, the US, the Bahamas, the UK, and Egypt.

9. What are Genting Berhad’s major sustainability goals? The group is committed to achieving carbon neutrality by 2050 and is investing in renewable energy and green technology across its operations.

10. What is the total asset value of Genting Berhad? As of 2024, the group’s total assets are valued at RM105,093.0 million.

Content is based on publicly available corporate filings, regulatory disclosures, annual reports, 10-K filings, Investor Relations materials, and direct mail communication with the company.