KUALA LUMPUR, Aug 17 ― Maybank Investment Bank (Maybank IB) is widening its forecast core net loss for Genting Malaysia Bhd in the financial year ending December 31, 2021 (FY21) by 52 per cent on the delay of Resorts World Genting (RWG) reopening to November amid the recent surge of Covid-19...
KUALA LUMPUR, Aug 17 ― Maybank Investment Bank is widening its forecast core net loss for Genting Malaysia Bhd in the financial year ending December 31, 2021 by 52 per cent on the delay of Resorts World Genting reopening to November amid the recent surge of Covid-19 cases.
Maybank IB had initially predicted a resumption of RWG’s operations in June 2021 and the new timeline for reopening would coincide with the expectation that Malaysia would achieve herd immunity in October this year. “Our investment thesis of Covid-19 vaccination led recovery remains intact as Malaysia is expected to achieve herd immunity by October 2021 as Covid-19 vaccinations have surged to more than 400,000 per day.
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