Maybank cuts EPS expectations for Genting Malaysia as omicron drags

Maybank Investment Bank has cut its profitability expectations for Genting Malaysia for full-year ending December 31, 2022, with omicron continuing to weigh on hotel performance at Resorts World Genting.

In a Friday note, Maybank said it had cut Genting Malaysia Bhd’s earnings per share (EPS) by 40 percent. Analyst Yin Shao Yang said that business at RWG had slowed from March due to an outbreak of omicron, with RWG currently only opening about half of its room capacity despite being allowed to reopen them all from April 1.

According to a report from The Edge Markets, the analysts have cut their FY22 estimated visitor arrivals to RWG to 21 million, down from a previous estimate of 24 million.

Source: https://agbrief.com/news/malaysia/09/05/2022/maybank-cuts-eps-expectations-for-genting-malaysia-as-omicron-drags/