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Outlook promising for Genting Malaysia despite recent challenges: Nomura


Outlook promising for Genting Malaysia despite recent challenges: Nomura
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VIEWS
The long-term prospects for Genting Malaysia look strong, according to Nomura research analysts, despite recording a net loss of MYR258.2 million in the three months to 31 December 2020.
Genting Malaysia’s 4Q20 results, released late Thursday, included a 57% year-on-year decline in revenues to MYR1.04 billion and a 69% fall in Adjusted EBITDA to MYR170.4 million due to property closures in Malaysia, the United States and the UK.
Adjusted EBITDA was not only down year-on-year but also 46% quarter-on-quarter due to a Movement Control Order put in place in October to prevent a second wave of COVID-19 from taking hold, ....

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After a bad patch, more hits than misses in 3Q earnings


After a bad patch, more hits than misses in 3Q earnings
The Edge
14/12/2020
Supriya Surendran
© Provided by The Edge
SURPRISINGLY, there were far more hits than misses in the financial performance of companies in the quarter ended Sept 30.
Of the 881 companies on Bursa Malaysia, 482 reported an improvement in earnings and 399, a decline.
“A big positive” was how private investor and former investment banker Ian Yoong described the quarter.
“The reality is that the recently concluded earnings season for the third quarter is way above expectations. The misses-to-beats ratio at 1.0 is the lowest for the past 10 years, according to RHB Investment Bank. ....

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