PETALING JAYA: Genting Bhd
expects the global economic environment to remain uncertain, as renewed geopolitical tensions in the Middle East and macroeconomic risks continue weighing on the growth outlook.
Against this backdrop, the group said in a filing with Bursa Malaysia that it remains cautious of the near-term prospects in Malaysia and continues to monitor the operating environment closely in order to navigate these near-term headwinds.
“Nonetheless, certain major economies, such as the United States, are expected to remain resilient, underpinned by robust consumer spending and a steady labour market,” it said.
For its second quarter ended June 30, 2026 (2Q26), Genting reported a net loss of RM27.1mil, compared with a net profit of RM243.5mil in the previous corresponding period, due to higher finance costs, lower interest income, lower share of profits in joint ventures and associates and higher depreciation, partly mitigated by lower net impairment losses.
Revenue in 2Q26 rose to RM7.75bil from RM6.78bil previously, driven by its leisure and hospitality and plantation division.
The group’s adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) for 2Q26 of RM2.1bil was higher by 2% compared with 2Q25.
“The strengthening of the ringgit against the Singapore dollar, British pound, and US dollar partly reduced the translated contributions of revenue and Ebitda in ringgit from foreign operations in 2Q26.”
Genting added that Resorts World Sentosa (RWS) continued to make good progress in 2Q26 as RWS advanced its transformation into a refreshed lifestyle destination. “Supported by new offerings and operational resilience, business performance improved notwithstanding geopolitical uncertainties.
“RWS reported improvements in revenue and Ebitda. However, after translation into ringgit, the revenue was lower and Ebitda was on par compared with 2Q25, mainly due to the strengthening of ringgit against the Singapore dollar.”
For the six-month period ended June 30, 2026, net profit plunged to RM74mil from RM248.1mil in the previous corresponding period, while revenue rose to RM14.41bil from RM13.29bil a year earlier.
Genting said RWS’ revenue was broadly stable year-on-year for the first half of financial year 2026 (1H26), as higher non-gaming revenue was partly offset by lower gaming revenue at the Singapore Integrated Resort.
“Growth in non-gaming revenue was supported by refreshed attractions, hospitality and experiential offerings even as tourism conditions weakened.
“Ebitda decreased compared with 1H25.
“Earnings were supported by steady operational progress and continued asset optimisation efforts. The strengthening of the ringgit against the Singapore dollar reduced the translated contributions of revenue and Ebitda in ringgit in 1H26.”
Meanwhile, the group’s subsidiary, Genting Malaysia Bhd, saw its net profit in 2Q26 plunge to RM47.4mil from RM416.6mil in the previous corresponding period.
“The group’s underlying operating performance continued to reflect a softer operating environment, in line with broader trends observed across similar markets regionally.
“The period was affected by moderating travel demand and more measured consumer spending amid prolonged geopolitical tensions in the Middle East.
“The group’s performance was also impacted by inflationary cost pressures during the quarter,” it said.
Revenue in 2Q26 rose to RM3.85bil from RM2.92bil previously.
“Notwithstanding the increase in revenue, adjusted Ebitda declined by 18% to RM844mil, mainly due to the recognition of a net unrealised foreign exchange (forex) translation loss of RM18.1mil in 2Q26, compared with forex gains of RM184.6mil in 2Q25, arising from the translation of the group’s US dollar-denominated borrowings.
“Excluding this impact, adjusted Ebitda increased by 2% to RM862.1mil,” it said.
For the six-month period ended June 30, 2026, net profit plunged to RM43.6mil from RM489.3mil in the previous corresponding period, while revenue rose to RM6.72bil from RM5.51bil previously.
Genting Malaysia said the lower profit was partially attributable to costs associated with the commencement and ramp-up of; Resorts World New York City’s full commercial casino operations, higher depreciation and higher financing costs for the development of the integrated resort.
