In comparison, Genting Malaysia posted a net profit of RM338.56 million, or 5.99 sen per share, in the previous corresponding quarter. With the enlarged cash coffers, the casino operator declared a special single-tier dividend of 7.3 sen per share for the financial year ended Dec 31, 2016 (FY16). Genting Bhd, which controls a 49.06% stake in Genting Malaysia, also declared a special dividend of 6.5 sen per share. In a press statement, Genting Malaysia said the big jump in earnings was contributed by a one-off gain from the disposal of shares in Genting Hong Kong and better operational performance. Going forward, Genting Malaysia said it remains cautious about the near-term outlook for the leisure and hospitality industry, but continues to be positive on the long term.

Source: The Edge Markets February 24, 2017 01:15 UTC