Genting posts third-quarter loss on British casino provisions

  • Business Premium
  • Friday, 28 Nov 2008

PETALING JAYA: Genting Bhd reported yesterday a net loss of RM40.4mil in its third quarter ended Sept 30, largely due to losses arising from impairment in the values of its casinos in Britain and power assets in China.

Excluding impairment losses and exceptional gains, the group made a lower gross profit of RM828.4mil against RM924.5mil in the previous corresponding period, mainly due to a drop in profit in its power division.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Ringgit opens marginally higher as Fed minutes show no surprises Premium
Australia business investment dips in Q1, outlook sharply upgraded Premium
Bumi Armada remains RHB's top sector pick Premium
Bursa joins global relief rally following release of Fed minutes Premium
Trading ideas: TM, Pos Malaysia, Velesto , UEM Sunrise, MBM Resources, Bumi Armada, Chin Hin Group and Genting Plantations Premium
ANALYSIS-Stock and bond divergence offers hope for battered 60/40 portfolio Premium
Fed embraces 50-basis-point rate hikes in June, July to curb 'very high' inflation Premium
World Bank's Malpass says war in Ukraine may trigger global recession Premium
Oil edges higher on tight supply, rising US refining activity Premium
Global shares rise after Fed meeting notes hint at future rate hikes Premium

Others Also Read