GENTING BERHAD (3182.KL)
- Sector
- Consumer Products & Services
- Price
- RM 1.42 (3.65%)
- Market cap
- 5.5B MYR
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About GENTING BERHAD
Company Description
Genting Bhd is a diversified conglomerate engaged in leisure and hospitality, oil palm plantations, property development, biotechnology, and oil and gas businesses. As the largest casino conglomerate in Southeast Asia, it operates integrated resorts including Resorts World Genting (RWG), Resorts World Sentosa (RWS), and Resorts World Las Vegas (RWLV) through subsidiaries Genting Malaysia (GENM) and Genting Singapore (GENS). The group also holds interests in power generation, notably a 660MW coal-fired plant in Banten, Indonesia, and plantation activities via Genting Plantations (GENP). Employing approximately 54,000 people globally in FY2023, the company maintains significant operations across Malaysia, Singapore, the UK, and the US.
Business Model
The company operates via a holding company structure, generating the majority of revenue from its leisure and hospitality division through gaming (VIP and mass market) and non-gaming hospitality services. The business relies on attracting tourist arrivals from Asia-Pacific markets, emphasizing high-margin mass market gamblers. It employs a Sum-Of-The-Parts (SOTP) valuation methodology, applying a holding company discount. Separate listed subsidiaries manage regional resorts, power assets, and plantations. The model benefits from a resilient Malaysian-centric operation and geographic diversification, mitigating regulatory risks, while licensing and management fees provide additional income streams.
Revenue Segment
In FY2025A, the Leisure & Hospitality segment contributed 82.1% of total revenue, followed by Plantation at 11.0%, Power at 3.7%, Property at 1.4%, Oil & Gas at 1.3%, and Investments & Others at 0.5%.
Geographic Segment
Based on FY2025A revenue, Singapore contributed 29.0% (MYR8,035.9m), Malaysia 25.7% (MYR7,125.2m), USA & Bahamas 20.2% (MYR5,598.7m), and UK & Egypt 7.2% (MYR1,994.2m). The remaining revenue from Power, Plantation, and other segments, primarily operating in Indonesia and Malaysia, constituted the balance of 17.9%.
Top Client
Chinese nationals account for most of the VIPs at Genting Singapore (GENS) and Genting UK (GENUK). Specific named key clients or major contracting parties are not disclosed in the reports.
Operational Scale
In FY2023, the group employed approximately 54,000 people globally. Genting Energy has a net capacity of 1,825MW, which is 95% fossil fuel-focused, including a 660MW coal-fired power plant in Banten. The plantation division operates 32 estates, 13 mills, 1 refinery, and 2 biodiesel plants. Additionally, the company manages over 10,000 acres of rainforest in Genting and houses over 100,000 marine animals in the S.E.A. Aquarium at RWS.
Associate Companies
Genting Malaysia (73.8%), Genting Singapore (52.6%), Genting Plantations (55.4%), The Landmarks (21.7%), TauRx Pharmaceuticals (20.3%), Resorts World Las Vegas (100%), and Genting Energy (100%).
Latest GENTING BERHAD news
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- GENTING Shares Drop 15%; Maybank Downgrades to Sell as RM1.25bn Rights Issue Raises Dilution Fears
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