MONEY MASTER

Genting Malaysia Bhd (GENM) saw its share price fall for a second day, as growing concerns over a potential  credit ratings downgrade  overshadow optimism surrounding its front-runner status for a  downstate New York casino licence . CreditSights, a Fitch Solutions unit, warned that both  Genting Bhd  and subsidiary  Genting Malaysia  face elevated downgrade risks due to  high leverage and weak cash flow . Genting’s latest pro-forma results showed it breached downgrade triggers for  cash flow, leverage and EBITDA  at both Moody’s and Fitch. Genting Bhd’s takeover bid has lifted its stake in Genting Malaysia to  73.133% . GENM’s share price dropped as much as  3.1%  to RM2.18 at market open before recovering slightly to RM2.19, valuing the company at RM12.4 billion. Analysts Boost Earnings Forecasts on New York Optimism Both  TA Research  and  Hong Leong Investment Bank (HLIB)  raised their earnings proj...

  Malaysian stocks rose 0.3% in early Tuesday trading , with the  FTSE Bursa Malaysia KLCI  climbing to  1,620.20 . Genting Malaysia  led the gains, jumping  8.9% , followed by parent  Genting Bhd , which advanced  3.8% , and  Petronas Chemicals Group , up  2.2% . On the downside,  Unisem (M)  fell  2.2% ,  Malakoff  declined  1.9% , and  Hartalega Holdings  eased  1.6% . In currencies, the  US dollar held steady at MYR 4.23 , while the  10-year Malaysian government bond yield  slipped  1.5 basis points to 3.47% .

Genting Malaysia Bhd (KL:GENM) saw its stock rise on Friday following a sharp earnings rebound, but analysts warn that cost pressures and overseas uncertainties could cap further upside. Earnings and Market Reaction Earnings:  Quarterly profit surged more than fivefold, though first-half results remained largely in line with consensus estimates. Stock Move:  Shares gained over 5% in morning trade, hitting RM2.08 before easing to RM2.02 at the midday break. Market Cap:  At last trade, Genting Malaysia was valued at  RM12 billion . YTD Performance:  Shares are still down about 10% in 2025, weighed by concerns over its acquisition of loss-making  Empire Resorts Inc . Key Headwinds Rising Costs: Expansion of the sales and service tax (SST). Higher electricity tariffs. Mandatory employer pension contributions for foreign workers. Foreign Operations:  Volatility and challenges abroad continue to present risks for Malaysian earnings, despite the recovery in 2...

Genting Bhd. (3182.MY) and Genting Malaysia Bhd. (4715.MY) have been removed from the FTSE Bursa Malaysia KLCI Index due to declining market capitalizations, Bursa Malaysia announced Thursday. Index Changes Removed Constituents: Genting Bhd. Market Cap: RM13.84 billion (~$3.11 billion). Genting Malaysia Bhd. Market Cap: RM12.59 billion . New Additions: 99 Speedmart (5326.MY). Gamuda Bhd. (5398.MY). The changes are part of the semiannual index review and will take effect on Dec. 23, 2024 . The next review is scheduled for June 2025 . KLCI Eligibility Criteria To remain in the benchmark index, companies must rank among the top 30 largest firms by market capitalization in Malaysia. Financial Performance Genting Bhd. Q3 2024 Net Profit: Halved to RM223.8 million , down from the previous year. Reason: Declines in revenue for its leisure and hospitality division . Genting Malaysia: Faces similar earnings pressures, contributing to its removal from the index. Implications Genting an...