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Consumer Services

Genting Bhd.

Company Background

Genting is a Malaysia-listed holding company well known in the casino and hospitality industry. Its core subsidiary, Genting Malaysia is the only company granted a license back in the early 1970s to operate a casino on a hilltop in the outskirts of Kuala Lumpur. Resorts World is the group's brand for its hotels and casinos.

In the U.S., Genting operates the only video gaming machine facility in New York City, and it has plans to expand further. Meanwhile, in the U.K., it is a leading casino operator, owning more than 40 casinos. Closer to home, Genting Singapore runs one of the two casinos in the city-state. Genting Malaysia has teamed with Twentieth Century Fox to build a theme park next to its Malaysian casino.

The group is controlled by the founder family, currently led by Chairman Lim Kok Thay. Lim is the second son of the late Lim Goh Tong, originally a poor immigrant from China who made his fortune dealing in secondhand machinery after World War II. Its associate Genting Hong Kong operates sea cruises and casinos in the Philippines. The group also has business interests in plantations, property development and energy.

Business Summary

Genting Bhd. is an investment holding and management company, which engages in the leisure and hospitality, gaming, and entertainment businesses. It operates through the following segments: Leisure and Hospitality, Plantation, Power, Property, Oil and Gas, and Investments and Others. The Leisure and Hospitality segment includes gaming, hotels, food and beverages, theme parks, retail, entertainment and attractions, tours and travel related services, development and operation of integrated resorts, and other support services. The Plantation segment involves in the oil palm plantations, palm oil milling, and related activities. The Power segment generates and supplies electric power. The Property segment focuses on the property development activities and property investment. The Oil and Gas segment consists of exploration, development, and production activities. The Investments and Others segment refers to the investment and interest income from financial assets. The company was founded by Goh Tong Lim in 1965 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2019 MYRUSD
Revenue21,602.10M5,214.14M
Gross Profit7,276.70M1,756.39M
Operating income5,092M1,229.06M
Income before tax4,493.30M1,084.55M
Net income1,995.80M481.73M
EBITDA7,723.90M1,864.33M
Diluted EPS0.510.12
Dividends Per Share0.120.03
Total Assets102,471.70M25,051.14M
Total liabilities43,081.60M10,532.11M
Total equity35,332.20M8,637.62M
Operating cash flow6,153.80M1,485.35M
Currency in MYRCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 18,100.40M 18,365.80M 20,015.80M 20,842.60M 21,602.10M
Gross Profit 5,141.70M 5,822.70M 7,269.30M 7,812.70M 7,276.70M
Operating income 3,672.30M 3,878M 5,412.20M 5,982.90M 5,092M
Income before tax 3,351.30M 5,459.50M 4,309.90M 3,418.40M 4,493.30M
Net income 1,388M 2,120.60M 1,444.70M 1,365.60M 1,995.80M
EBITDA 5,575.20M 5,879.10M 7,537.50M 8,202.30M 7,723.90M
Diluted EPS 0.37 0.56 0.37 0.35 0.51
Dividends Per Share 0.03 0.06 0.14 0.14 0.12
Total Assets 89,727.40M 91,874.20M 93,612.60M 96,141.40M 102,471.70M
Total liabilities 33,999.30M 34,306.30M 36,468.70M 38,675.20M 43,081.60M
Total equity 32,617.80M 34,009M 33,787.90M 34,273.70M 35,332.20M
Operating cash flow 4,358M 5,722.80M -826.20M 6,308.50M 6,153.80M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 4,629.64M 4,433.27M 4,655.35M 5,164.96M 5,214.14M
Gross Profit 1,315.12M 1,405.52M 1,690.72M 1,936.05M 1,756.39M
Operating income 939.28M 936.10M 1,258.79M 1,482.61M 1,229.06M
Income before tax 857.18M 1,317.85M 1,002.41M 847.10M 1,084.55M
Net income 355.01M 511.88M 336.01M 338.40M 481.73M
EBITDA 1,426.00M 1,419.14M 1,753.10M 2,032.59M 1,864.33M
Diluted EPS 0.09 0.13 0.08 0.08 0.12
Dividends Per Share 0.00 0.01 0.03 0.03 0.03
Total Assets 20,898.42M 20,480.20M 23,131.35M 23,264.70M 25,051.14M
Total liabilities 7,918.78M 7,647.41M 9,011.29M 9,358.78M 10,532.11M
Total equity 7,597.01M 7,581.14M 8,348.87M 8,293.69M 8,637.62M
Operating cash flow 1,114.67M 1,381.41M -192.16M 1,563.29M 1,485.35M

Valuation Measures

Dec 2019
PER11.67
ROA2.00%
ROE5.73%
Operating margin23.57%
Profit margin9.23%

Key executives

  • Chairman & Chief Executive Officer: Kok Thay Lim
  • President, COO & Executive Director: Kong Han Tan
  • Chief Financial Officer: Yee Fun Wong
  • Executive Director & Deputy CEO: Keong Hui Lim
  • Chief Executive Officer-Energy Division: Tiong Soon Ong

Shareholders

  • LIM FAMILY (42.7%)
  • Great Eastern Life Assurance Co. Ltd. (3.2%)
  • Orbis Investment Management Ltd. (2.8%)
  • The Vanguard Group, Inc. (2.2%)
  • LIM KOK THAY (1.7%)
  • Massachusetts Financial Services Co. (1.6%)
  • GIC Pte Ltd. (Investment Management) (1.1%)
  • Eastspring Investments (Singapore) Ltd. (1.0%)
  • BlackRock Fund Advisors (0.9%)
  • Dimensional Fund Advisors LP (0.8%)

Contact Details

  • Website:http://www.genting.com
  • Address: Wisma Genting, Jalan Sultan Ismail, Kuala Lumpur, 50250, Malaysia
  • Phone: +60.3.2178.2288

Related Companies

  • Genting RMTN Bhd.
  • Genting Casinos Egypt Ltd.
  • Genting Administrative Services Sdn. Bhd.
  • Resorts World Properties Sdn. Bhd.
  • Resorts World Las Vegas LLC
  • Resorts World Bhd (Hong Kong) Ltd.
  • Resorts World Properties Pte Ltd.
  • Genting TauRx Diagnostic Centre Sdn. Bhd.
  • Genting Management Singapore Pte Ltd.
  • DNAe Group Holdings Ltd.
  • Newquest Resources Pte Ltd.
  • Genting Strategic Investments (Singapore) Pte Ltd.
  • Genting Capital Bhd.
  • Genting Power (M) Ltd.
  • Widuri Pelangi Sdn. Bhd.
  • Genting Oil & Gas (China) Ltd.
  • GP Wind (Jangi) Pvt Ltd.
  • Genting Capital Ltd.
  • Vista Knowledge Pte Ltd.
  • Genting Intellectual Property Pte Ltd.
  • Genting Genomics Ltd.
  • Prime Offshore (Labuan) Ltd.
  • GP (Raigad) Pte Ltd.
  • Green Synergy Holdings Pte Ltd.
  • Genting International Paper Ltd.
  • Genting Power (India) Ltd.
  • Genting Power Indonesia Ltd.
  • Highlands Power Development Ltd.
  • Genting Power Philippines Ltd.
  • Highlands Exploration Ltd.

Competitors

  • TSH Resources Bhd.
  • United Plantations Bhd.
  • IOI Corp. Bhd.
  • FGV Holdings Bhd.
  • Sime Darby Plantation Bhd.
  • Kuala Lumpur Kepong Bhd.
  • Batu Kawan Bhd.
  • Boustead Plantations Bhd.
  • Far East Holdings Bhd.
  • Indonesia Energy Corporation Limited
  • Melco Resorts and Entertainment Ltd Shs Sponsored American Deposit Receipt Repr 3 Shs
  • Caesars Entertainment Corporation
  • Genting Hong Kong Limited
Last Updated on 8 Jul, 2020

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