KUALA LUMPUR: Genting Malaysia Bhd may miss earnings expectation in its fourth quarter results, prompting RHB Research to cut its forecast on parent Genting Bhd’s profit by 1.6 per cent this year. RHB Research also cut Genting’s earnings for financial years 2020 and 2021 by four per cent and 0.3 per cent respectively. “Potential weaker-than-expected upcoming Genting Malaysia’s 4Q19 results and the recent Wuhan coronavirus outbreak prompt us to cut (Genting’s) FY19F-21 earnings,” the firm said in a report today. RHB Research said upside for Genting remained capped until the outbreak stabilised and public fears were allayed in Malaysia and Singapore. The firm noted that the coronavirus outbreak had led Resort World Genting to announce that all tour bookings from China had been cancelled for February.

Source: New Strait Times February 11, 2020 04:41 UTC