Genting Malaysia Bhd achieved a pre-tax profit of RM162.275 million for the fourth quarter ending December 31, 2021, on the back of a turnover of RM1.889.177 billion from a loss of RM285.089 million on the back of a turnover of RM1.041.079 billion previously.
For the year ended December 31, 2021, it registered a loss of RM1.050.998 billion on the back of a turnover of RM4.156.664 billion from a loss of RM2.361.526 billion on the back of a turnover of RM4.528.780 billion
GENM said the increase in 4QFY21 revenue was mainly due to higher revenue from the leisure and hospitality business, which grew 49% y-o-y to RM961.9 million, primarily driven by a higher volume of business registered at RWG following its reopening on Sept 30, 2021. Additionally, the full lifting of interstate travel restrictions from Oct 11, 2021, further aided demand recovery at the resort.
The group also reported higher revenue from its property segment of RM123.1 million due to a gain from the disposal of land in the current quarter under review. Its
On its outlook, it said that the group remains cautiously optimistic on the near-term prospects of the leisure and hospitality industry but is wary of the increased spread of Covid-19 variants.
