Kenanga lowers earnings forecast on Genting Malaysia amid further lockdowns

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KUALA LUMPUR: Kenanga Research has lowered its earnings estimates on Genting Malaysia Bhd as it forecasts a deeper impact on operations due to further lockdowns domestically and in the UK.

as it forecasts a deeper impact on operations due to further lockdowns domestically and in the UK.

"We also further cut FY21 earnings estimates by 22% on lower Malaysian earnings, higher North America earnings but keep the UK earnings unchanged," said the research house. In the news, it was reported last week that Genting Malaysia's UK unit is proposing to permanently close its Genting Casino in Southport due to Covid-19.

 

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