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Genting Singapore takes a hit from coronavirus outbreak, but the tables could soon turn

Uma Devi
Uma Devi • 3 min read
Genting Singapore takes a hit from coronavirus outbreak, but the tables could soon turn
The way UOB lead analyst Vincent Khoo sees it, Genting Singapore has to brace itself for steep falls in both its earnings and share price, similar to the SARS and H1N1 outbreaks in 2003 and 2009 respectively.
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SINGAPORE (Feb 11): Genting Singapore (GENS) appears to be one of the companies badly hit by the outbreak of the novel coronavirus (2019-nCoV). Since Jan 20, the counter has plunged 9.5%.

Market watchers opine that the city state’s gaming industry is one of the sectors that could bear the brunt of the virus due to its high dependency on foreign tourist arrivals, including tourists from mainland China.

As of Feb 11, Singapore has 45 confirmed cases, making it the country with the second most number of infected patients outside of China. It had also recently raised its Disease Outbreak Response System Condition (DORSCON) level to Orange in a bid to contain the outbreak.

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