Genting Singapore

All work and no play makes Genting SG a dull stock

The company will not be paying out an interim dividend. However, the board "recognises shareholders' interests" and "if necessary" will tap retained earnings to pay a final dividend.

After three months of being shut, Resorts World Sentosa reopened on Jul 1 but its operations “will take more time to recover”, says Maybank analyst Yin Shao Yang in a July 23 report. As such, Yin has downgraded Genting Singapore to “hold”.

The global pandemic has hit other parts of the Genting group. Last month, Genting Malaysia reportedly cut 3,000 job cuts, or about 15% of its workforce.

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Genting Singapore, which runs the integrated resort and casino Resorts World Sentosa (RWS), is headed for a slow recovery after shutting for two months in a “wash-out year”, according to analysts from UOB Kay Hian.

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“Tourism could take a longer time to recover to pre-[Covid-19] days,” RHB analyst Juliana Cai writes in a note dated July 1.

However, operating capacity will be capped at a quarter