PETALING JAYA: RAM Ratings believes that the latest developments in Genting Singapore Ltd (GenS), together with the recent series of credit-negative events at Genting Malaysia Bhd
(GenM), could weaken Genting Bhd’s financial metrics and limit its headroom for additional borrowings.
On April 3, GenS announced a hefty S$4.5bil (RM13.74bil) expansion of Resorts World Sentosa (RWS). The Singapore government on the same day also announced the imposition of higher entry levies and gaming taxes, to take effect on April 4 and in March 2022 respectively.
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