PETALING JAYA: Going by Genting Singapore Ltd’s results for the first quarter of financial year 2022 (1Q22), the Genting group of companies is poised to see a recovery in earnings following the removal of pandemic-related constraints. Genting Singapore, which is 52.7%-owned by Bursa Malaysia-listed Genting Bhd , reported a core profit of S$43.5mil (RM137.19mil) in 1Q22 from S$12mil (RM37.85mil) in the preceding quarter. “We believe the two years of lacklustre earnings at Genting Singapore are likely to end with earnings recovery expected from 2Q22, given the reopening of international borders. Genting and its 49.%-owned Genting Malaysia are slated to release their 1Q22 results this month-end. This is expected to boost the Genting group’s earnings recovery from 2Q22 onwards.
