Revenue recovery, lower capex to drive Genting’s deleveraging, says Fitch
KUALA LUMPUR (Nov 9): Genting Bhd (BBB/Stable) and its subsidiary Genting Malaysia Bhd (GenM, BBB/Stable) should generate positive free cash flow (FCF) over 2022-2024, allowing them to cut leverage by around one times during the period, according to Fitch Ratings.
In its Spotlight: Genting Berhad report released on Tuesday (Nov 8), the rating agency said its rising revenue and earnings before interest, taxes, depreciation, amortisation and rent/restructuring (Ebitdar) estimates for Genting and GenM incorporate receding Covid-19 risks and the easing of preventive restrictions across key markets.
“We expect a slower — but steady — Ebitdar recovery in Singapore than in Malaysia and the US, due to a higher dependence on foreign visitors and the hit from an increase in gaming tax from 2Q2022 (second quarter of 2022),” it said.
Fitch forecasts Genting’s 2022-2024 capex to be less than half of its spend over 2018-2021, due to lower investment in Malaysia and the US.
“However, we have not factored in potential new casino licences, due to significant uncertainties,” it said.
At the time of writing, Genting shed 1.35% or six sen to RM4.40 while GenM dipped 1.1% or three sen to RM2.69.
http://www.theedgemarkets.com/article/revenue-recovery-lower-capex-drive-gentings-deleveraging-says-fitch
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Top 5 Real Estate Agents in Cambodia3 days ago
-
-
-
-
-
Seatrium – Laggard pick3 days ago
-
-
-
-
Month of October 20244 days ago
-
-
Singaporeans Are Saving Less4 days ago
-
-
-
-
-
-
Portfolio (Oct 30, 2024)5 days ago
-
-
-
-
-
-
美国股市投资指南:投资者需要了解的税务问题5 days ago
-
Who wants to be a Millionaire?6 days ago
-
-
Update to my side income 20241 week ago
-
-
-
Interest rate and the Trump trade1 week ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
The gold rush again2 weeks ago
-
-
-
-
-
-
-
-
-
-
-
-
Summary of September 20244 weeks ago
-
-
-
-
-
A peek behind the curtain4 weeks ago
-
China boom?5 weeks ago
-
-
-
-
PSA Annoucement: Life of a minion5 weeks ago
-
STI ETF1 month ago
-
-
-
-
-
-
Unibet Casino Bonus Codes 20241 month ago
-
-
-
-
MSC: Mission Critical distributor2 months ago
-
500k Milestone!2 months ago
-
Random thoughts: Air Drying of car2 months ago
-
-
-
-
-
-
-
-
-
-
Monthly IBKR Update – June 20243 months ago
-
At the Half Year Mark3 months ago
-
-
-
-
-
-
-
-
Breakthroughs in portfolio :)5 months ago
-
-
-
-
Feb 2024 Expenditure7 months ago
-
-
The Market Is A Scam!8 months ago
-
-
-
Options Trading Journal Jan 20248 months ago
-
-
-
-
Year 2023 DIYQuant Portfolio Performance Report10 months ago
-
Monthly Summary of November 202311 months ago
-
Migration of website11 months ago
-
-
-
-
-
-
-
-
-
-
A New Light1 year ago
-
-
-
-
-
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment2 years ago
-
Terra Hill Condo (former Flynn Park)2 years ago
-
Alibaba VS Tencent: The Battle Royale2 years ago
-
-
-
-
-
-
-
-
-
Home
articles
GENM
GENTING
Revenue recovery, lower capex to drive Genting’s deleveraging, says Fitch