August 29, 2013 / 11:32 AM / 4 years ago

Genting Q2 net profit tumbles 12.8 pct, Singapore unit eyes Japan

KUALA LUMPUR, Aug 29 (Reuters) - Gaming-to-plantations conglomerate Genting Bhd reported a 12.7 percent drop in quarterly profit, as weaker palm oil sales and lacklustre contributions from its Malaysian and Singaporean casinos weighed.

Second quarter net profit to June 30 fell to 466.3 million ringgit ($139.84 million)from 534.5 million ringgit in the same period a year ago, the company said in a statement to the Kuala Lumpur stock exchange.

Genting has interests in power generation and property development. It’s associate Genting Hong Kong is Asia’s largest listed cruise operator.

Genting also said in the statement its Singapore unit Genting Singapore is monitoring gaming developments in Japan and is prepared to invest in an integrated resort when the opportunity arises.

For the full company statement, see ($1 = 3.3345 Malaysian ringgit) (Reporting by Niluksi Koswanage)

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