Latest news with #GentingMalaysia
Hype Malaysia
19-05-2025
- Entertainment
- Hype Malaysia
Ella's 30th Anniversary Concert Review: A Rock ‘N' Roll Time Machine With A Heart
Ella rocked Genting Highlands' Arena of Stars to celebrate 30 years of her iconic album Ella USA over the weekend. Over 4,200 fans packed the venue, turning it into a roaring rock party fuelled by powerful vocals, unforgettable hits, and endless love for one of Malaysia's true rock legends. From the moment the iconic opening track 'Ala Amerika' echoed through the arena, the crowd was instantly swept back to the 90s – the era when Ella's fiery voice first stormed the local music scene. Fans leapt to their feet, dancing and belting out every lyric like time had paused. It was a shared moment of pure nostalgia, reminding us why her music has transcended generations. Rocking With Kyoji Yamamoto – A Legendary Collaboration Adding an electrifying twist to the night was none other than legendary Japanese shredder Kyoji Yamamoto. Flying in all the way from Hawaii, Kyoji's blistering riffs injected pure rock adrenaline, especially on anthems like 'Rindu' and 'Penawar.' His presence wasn't just a cool cameo – it was a rare reunion recalling the original 1992 Osaka and Tokyo tour with Ella, plus the recording sessions in the chilly studios of LA and San Francisco where 'Ella USA' was born. On stage, Kyoji's guitar work was a masterclass in precision and passion, sending chills through even the most stoic fans. Then came the slow burners 'Menanti' and 'Mungkin,' pulling at heartstrings so deeply that a few couldn't hold back tears as raw emotion spilled from the stage. More Than Just A Concert – A Storytelling Experience Ella did more than sing – she pulled the crowd backstage with tales of recording 'Ella USA' in snowy LA, sharing stories that gave a raw glimpse into the grit and passion behind the music. Vintage footage flickered on the big screen, making us feel like we were right there beside her through those creative days. This wasn't just nostalgia; it was a celebration of artistry and resilience, giving Malaysian fans a unique insight into a rock legend's journey. Sleek, Powerful & Unfiltered Production The stage design was sleek and timeless, stripping away distractions to keep every eye glued to the music and its makers. Lighting shifted perfectly – intimate blues during the emotional ballads, vibrant reds and purples for rockers like 'PLR' and 'Kembara Kita.' Lyrics projected on screen invited the entire arena into a massive sing-along – a communal joy that felt almost sacred. Sonically, the show hit the mark – zero autotune, zero fluff. Just raw, powerful vocals and jaw-dropping guitar wizardry. The drums and bass locked in tight, driving every track with precision. It was a perfect reminder of why Ella and Kyoji still rule the rock throne 30 years on. Rocking Beyond Music – Honoring Malaysian Heroes This wasn't just a concert – it was a celebration of community. Genting Malaysia's CSR program gifted free tickets to local heroes – teachers, firefighters, and rescue squads – recognising their everyday rockstar moments. This heartfelt tribute added a layer of unity and gratitude that made the night even more special, reminding us that real-life heroes often don't get the spotlight they deserve. Why Ella's Fire Still Burns Bright As someone who wasn't a die-hard Ella fan growing up, I found myself swept up in the magic. This was more than a concert; it was a cultural heartbeat bridging generations, blending stories, memories, and the enduring spirit of Malaysian rock. The emotional rollercoaster – from tearjerkers to anthems that made the whole crowd dance – showcased Ella's ability to evolve, inspire, and unite us in sound and soul. Ella isn't just a rock legend – she's the heartbeat of Malaysian music, still setting stages ablaze 30 years on. With every note, every story, and every roar from the crowd, she reminds us why her fire never fades. Here's to many more decades of Ella owning the rock throne and inspiring every generation that follows.
Business Times
15-05-2025
- Business
- Business Times
Shares of Genting companies in Malaysia slide as investors react to Genting Singapore's leadership change, weak results
[KUALA LUMPUR] Shares of Genting-linked companies tumbled on Thursday (May 15) as investors digested a surprise CEO exit at Genting Singapore and fresh concerns over corporate governance, amid broader weakness in Malaysia's equity market. At the market close on Thursday, Bursa Malaysia-listed Genting Bhd dipped 2.1 per cent or 7 sen at RM3.22, while Genting Malaysia fell 1.1 per cent or 2 sen to RM1.76. The declines came after Genting Singapore announced on Wednesday that its chief executive officer Tan Hee Teck will retire effective May 31. He will also step down as CEO and chairman of Resorts World Sentosa (RWS). Lim Kok Thay, the executive chairman of the Genting Group, will become acting CEO from Jun 1. RWS president and chief financial officer Lee Shi Ruh will become RWS CEO, also from Jun 1. The leadership change coincided with a disappointing quarterly earnings report from Genting Singapore. First-quarter revenue dropped 20 per cent year-on-year to S$626.2 million, while net profit fell 41 per cent to S$145 million. While some investors linked the stock reaction to Tan's retirement, analysts suggest the weakness in Genting-related counters reflects broader market trends and lingering concerns over governance. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Neoh Jia Man, portfolio manager at Tradeview Capital, said the declines appear to be in line with the broader weakness across Malaysian large-cap stocks on Thursday. 'Persistent share price weakness likely stems from ongoing corporate governance concerns, notably the recurring related party transactions, including the recent Empire Resorts buyout, perceived as unfavourable to minority shareholders,' he told The Business Times. Genting Bhd is the holding company of the Genting Group, which owns 52.6 per cent of Genting Singapore and 49.3 per cent of Genting Malaysia. The conglomerate has business interests spanning leisure and hospitality, plantations, power generation, property development and life sciences across nine countries, with a workforce of 54,000. Controversial Empire Resorts deal Governance issues resurfaced recently after Genting Malaysia proposed a US$41 million deal to acquire full control of Empire Resorts from Kien Huat Realty III, a private entity owned by the Lim family, led by Genting Group executive chairman Lim. The acquisition will increase Genting Malaysia's stake in Empire Resorts to 100 per cent from 49 per cent, making it a wholly owned subsidiary. A remisier, speaking anonymously, pointed out that Genting Malaysia's investment in Empire Resorts, exceeding US$724 million since 2019 and executed in multiple stages, raises concerns that the board may have strategically avoided seeking comprehensive minority shareholder approval for the entire series of related-party transactions, potentially compromising shareholder protections. On May 8, Bursa Malaysia raised 20 questions on the deal, which involves Empire Resorts' gaming assets in New York, including Resorts World Catskills and Resorts World Hudson Valley. Empire Resorts reported a net loss of US$53.1 million in FY2024, narrowing from US$57 million a year earlier. In a recent report, Maybank Investment Bank flagged the proposed buyout as another 'value-destroying related-party transaction.' Analyst Yin Shao Yang said that with Empire becoming a subsidiary, Genting Malaysia will have to consolidate US$300 million in senior secured notes, pushing its estimated 2025 net gearing to 98 per cent, from 79 per cent previously. Still, potential catalysts remain. 'These include a possible resolution to the US$600 million lawsuit involving Resorts World Bimini and a decision on a full casino licence for Resorts World New York by year-end,' added Yin. For the financial year 2024, Genting Bhd posted revenue of RM27.7 billion, up 2.2 per cent year on year, while net profit fell 13 per cent to RM2 billion. Singapore operations contributed 31 per cent of revenue, with Malaysia at 30 per cent, and the rest from operations in the US, the UK, Egypt and the Bahamas. Share prices dip after reshuffle Malaysia's Genting Group, one of Asia's largest family-run conglomerates, underwent a leadership reshuffle earlier this year as long-time chief Lim stepped down as Genting Bhd CEO after nearly two decades at the helm. The 73-year-old tycoon announced the transition on Feb 27, appointing Tan Kong Han as his successor. Lim remains as executive chairman of the group. At Genting Malaysia Bhd, Lim continues to serve as deputy chairman and CEO. His son, Lim Keong Hui – representing the third generation of the Lim family – took over as CEO of Genting Plantations in March, succeeding Tan. The younger Lim is also deputy CEO and executive director at both Genting Bhd and Genting Malaysia. Since the announcement, shares across the Genting Group have trended lower, a decline analysts attributed more to broader market conditions and concerns surrounding the Empire Resorts acquisition than to the leadership change itself. As at Thursday, Genting Bhd shares had fallen 2 per cent to RM3.22 from RM3.29 on Feb 28. Genting Malaysia declined 7.4 per cent to RM1.76 from RM1.90, while Genting Plantations dropped 12.3 per cent to RM4.97 from RM5.67 over the same period.
Yahoo
12-05-2025
- Business
- Yahoo
Returns On Capital At Genting Malaysia Berhad (KLSE:GENM) Have Hit The Brakes
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Having said that, from a first glance at Genting Malaysia Berhad (KLSE:GENM) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Genting Malaysia Berhad, this is the formula: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.053 = RM1.3b ÷ (RM29b - RM3.3b) (Based on the trailing twelve months to December 2024). So, Genting Malaysia Berhad has an ROCE of 5.3%. Ultimately, that's a low return and it under-performs the Hospitality industry average of 7.6%. See our latest analysis for Genting Malaysia Berhad Above you can see how the current ROCE for Genting Malaysia Berhad compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Genting Malaysia Berhad . There hasn't been much to report for Genting Malaysia Berhad's returns and its level of capital employed because both metrics have been steady for the past five years. It's not uncommon to see this when looking at a mature and stable business that isn't re-investing its earnings because it has likely passed that phase of the business cycle. So unless we see a substantial change at Genting Malaysia Berhad in terms of ROCE and additional investments being made, we wouldn't hold our breath on it being a multi-bagger. That being the case, it makes sense that Genting Malaysia Berhad has been paying out 70% of its earnings to its shareholders. If the company is in fact lacking growth opportunities, that's one of the viable alternatives for the money. In summary, Genting Malaysia Berhad isn't compounding its earnings but is generating stable returns on the same amount of capital employed. And with the stock having returned a mere 1.1% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. Therefore, if you're looking for a multi-bagger, we'd propose looking at other options. Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 3 warning signs for Genting Malaysia Berhad (of which 1 shouldn't be ignored!) that you should know about. While Genting Malaysia Berhad isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Free Malaysia Today
09-05-2025
- Business
- Free Malaysia Today
Bursa scrutinises Genting Malaysia's buyout of loss-making US unit
Some analysts said Genting Malaysia's acquisition of Empire Resorts is expensive and potentially profit-dilutive. (File pic) PETALING JAYA : Bursa Malaysia Securities Bhd has grilled Genting Malaysia Bhd (GENM) over its proposed US$41 million (RM177 million) buyout of loss-making Empire Resorts Inc (ERI) from the Genting group's founding Lim family. The bourse regulator slapped the gaming and resort operator yesterday with 20 questions on the deal, which raised eyebrows among some analysts and investors. GENM announced last Friday it is acquiring the remaining 51% stake in Genting Empire Resorts LLC (GERL) it does not currently own for US$41 million from Kien Huat Realty III Ltd, a vehicle of the Lim family led by Lim Kok Thay, the son of Genting founder Lim Goh Tong. The group currently has a 49% interest in GERL, which wholly owns ERI that has gaming properties in New York state. Under the deal, Kien Huat Realty III will also assign a US$39.7 million (RM170 million) debt to GENM that ERI owes to it. Some analysts have labelled the acquisition as expensive and potentially profit-dilutive, and will likely be a financial drag on the group. Concerns have also been raised that it is an unfavourable related party transaction (RPT). That Bursa slapped GENM with 20 questions perhaps reflects the greater scrutiny the regulator has on the transaction, which has garnered keen investor interest. It asked GENM to state the rationale for acquiring the remaining 51% in GERL given the latter had already invested substantially in the preferred stocks of ERI, which is convertible to common stocks in the company. Bursa also wanted GENM to state the justifications for the purchase consideration of US$41 million, and to justify the premium paid for the 51% interest in GERL. It sought a clarification on whether the market value range of the common stock of US$36.5 million to US$46.9 million is the market value ascribed for 100% interest in ERI. The regulator also wanted details on the liabilities and guarantee to be assumed by GENM arising from the proposed acquisition. Bursa asked the group to explain the increase in its total borrowings from RM12.22 billion to RM13.49 billion post-acquisition. In its reply, GENM said the acquisition falls within the independently assessed market value range of US$36.5 million to US$46.9 million for ERI. It added the valuation was performed by independent valuer CBRE Securities LLC on April 22, 2025. It said no additional liabilities, including contingent liabilities and guarantees, will be assumed by the company, aside from paying the purchase price. It said GERL posted a net loss of US$54.1 million for the financial year ended Dec 31, 2024 (FY2024), down from US$65.4 million in FY2023. It incurred a US$53.4 million net loss in FY2022. ERI, meanwhile, posted a lower net loss of US$53.1 million in FY2024 from US$57 million in FY2023, but higher than US$44.2 million in FY2022. GENM said ERI will concentrate on increasing gaming revenues for its Resorts World Catskills by broadening its demographic reach to key upstate markets. However, it cautioned there is no guarantee ERI will be able to maintain a positive trajectory in its financial and operational performance. GENM's investments in ERI prior to the latest acquisition totalled US$724.4 million (RM3.1 billion), after it made several capital injections through common and preferred stocks in recent years. According to its 2024 annual report, the 73-year-old Kok Thay and his son, Keong Hui, 40, have a deemed interest of 49.35% in GENM as of March 17, 2025. Kok Thay is GENM's deputy chairman and chief executive while Keong Hui is the group's deputy chief executive and executive director. In a recent note, Public Investment Bank said the deal was an 'unfavourable' RPT that suggests 'corporate governance remains a concern' for GENM. GENM's shares closed 3 sen or 1.7% higher at RM1.76, valuing the group at RM10.45 billion. Year to date, the counter has fallen 22%.
