KUALA LUMPUR Aug 28 Malaysian conglomerage
Genting Bhd reported a 20 percent fall in
second-quarter net profit due to lower earnings from its leisure
and hospitality business in Malaysia, Britain, the United States
Net profit declined to 372.0 million ringgit ($118.1
million) in the April-June period from 466.3 million ringgit in
the same quarter a year earlier. Revenue rose 2 percent
year-on-year to 4.4 billion ringgit, Genting said in a stock
exchange filing on Thursday.
The company, whose businesses also include plantations, has
declared an interim single-tier dividend of 1 sen per share.
None was declared during the first half of last year.
Genting, which owns one of the world's most profitable
casinos in Singapore, has been spending heavily to
expand its gaming and hospitality businesses in the United
States and South Korea.
It is now eyeing Japan, which is preparing to allow casinos
to open up and has the potential to become the world's
second-biggest gaming market, worth $15 billion a year.
Genting shares have fallen 5.85 percent this year to date,
compared with a 0.29 percent rise in the Kuala Lumpur benchmark
(Reporting By Yantoultra Ngui and Al-Zaquan Amer Hamzah;
editing by Jane Baird)