KUALA LUMPUR (Nov 26): Analysts on Friday maintained their buy calls on Genting Bhd and Genting Malaysia Bhd (GENM) as they foresee solid recovery for the two companies. It also revised its FY22 to FY23 earnings forecasts to RM1.5 billion and RM2.4 billion, from RM1.4 billion and RM2.1 billion. "We expect a solid recovery in 4QFY21 supported by the recovery from its gaming businesses in Malaysia and Singapore," it said. According to the research house, GENM witnessed a strong return of local visitors to Resorts World Genting (RWG) since Malaysia lifted its interstate travel ban on Oct 11. Meanwhile, CGS-CIMB said in a note that Genting 9MFY21 core net loss would be in line if not for RWLV net losses.

Source: The Edge Markets November 26, 2021 17:04 UTC