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Casino and theme park operator, Genting Malaysia, has posted a Q12020 net loss of RM417.95 ($95.82) million as the business suffers from the devastating effects of the pandemic.
In comparison, the company made RM268.28 ($61) million in net profit the previous quarter.
The group’s losses did not come as a surprise as many places of gatherings, including bars, clubs, and entertainment centres have been shut down temporarily since mid-March due to the pandemic.
In an earlier report, Genting Malaysia is also expected to shed 10% - 20% of their existing 20,000 workforce.
The company also announced pay cuts in April 2020, the first time since 1965.
SGD 2000 — SGD 2500 monthly
Petaling Jaya, Singapore
Singapore , Singapore
USD 4000 — USD 7000 monthly
Kuala Lumpur, Malaysia
MYR 10000 — MYR 30000 monthly
Damansara Uptown, Malaysia
MYR 400 — MYR 500 monthly
Fortune Cookie Wisdom Pte Ltd
Contract / Freelance
Remote, United Kingdom
Journalist at BEAMSTART. I write about breaking business news in the region.
Based in Malaysia
Works at BEAMSTART
Education Not Specified
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