Genting Malaysia slips into the red with 4Q net loss of RM393.9 mil
Genting Malaysia Bhd (GENM) slipped into the red with a net loss of RM393.97 million for the fourth quarter ended Dec 31, 2022 (4QFY2022) compared to a net profit of RM174.12 million a year earlier, due to higher finance costs, impairment losses, depreciation charges and net foreign exchange translation losses. The net profit achieved in 4QFY2021 was also aided by a RM119.8 million gain from the disposal of subsidiaries Authentic Gaming Ltd and Authentic Gaming Malta Ltd, the group noted in a bourse filing.
Source: theedgemarkets.com
