Genting Malaysia Berhad, Company profile history
Genting Malaysia Berhad is one of the large companies from Malaysia.
Which is one of several subsidiaries of the Genting Group?
Genting Malaysia Berhad was previously better known as Resort World Sdn Bhd, which is a private limited company.
Founded in 1980, more precisely on May 7, 1980.
Then from 1989 – 2009 the name changes to Resort World Bhd.
Which became a public company and the last changed its name to Genting Malaysia Berhad.
In 1989, Genting Malaysia Berhad became a company that operated in fields related to gaming, hotels, and resorts.
Genting Malaysia Berhad shares began to enter in the list on Bursa Malaysia since December 22, 1989.
Genting Malaysia Berhad is expanding its business in the leisure and hospitality business.
With more than 45 years of experience in developing amusement parks, games, hotels, seaside resorts, and entertainment.
They have a programmed loyalty card called “Genting World Card” containing more than 3.3 million members in Malaysia.
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Genting Malaysia Berhad is a subsidiary of the Genting Group which is engaged in resorts and hospitality, which basically manages the Genting Highland area.
According to Wikipedia that the main business of Resorts World Bhd is in the field of tourist resort business in the Genting Highlands.
The company’s activities include recreation and hospitality services, be it in the fields of entertainment, games, hotels.
Six hotel properties at Genting Highlands Resort currently consist of
- Genting Hotel.
- Highlands Hotel.
- Theme Park Hotel and Resort Hotel.
- Awana Genting Highlands.
- Golf & Country Resort.
- First World Hotel.
The name of the place with geographical conditions is the Genting Highlands.
The official companies that manage activities in the highlands are Resorts World Bhd and First World Hotels & Resorts Sdn Bhd.
The two became one to join Genting Highlands Resorts, with the motto Genting – City of Entertainment.
Genting group itself is an international company that also expands companies in several other countries and has around 58000 employees.
Genting Malaysia Berhad address on Wisma Genting,the 24th Floor, Jalan Sultan Ismail, 50250 Kuala Lumpur.
It is a multinational company that is one of the major companies in Malaysia.
Visi and mission Genting Malaysia Berhad
Taken from the official website of Gentingmalaysia.com their main vision is to be the leading integrated resort operator in the world.
And the mission they want to achieve is a commitment to providing the most delightful and memorable experiences to their customers.
With the aim of generating sustainable growth and profits, and also consistently enhancing for all stakeholders’ value.
While the vision and mission of the Genting Group is
- Always care to be always to the demands of customers and best in quality products and services to satisfy customer desires.
- Always innovating with the use of new technology to always best in the competition.
- Responsible for generating rational gain to their shareholders.
- Emphasize on personnel policies and encourage employee contributions with training, development, and the right opportunities for career advancement.
- Being a responsible corporation, always improving corporate governance and transparency.
Genting Group history
Genting Group was formed in 1965 by the late Malaysian businessman Tan Sri Lim Goh Tong.
Lim Goh Tong was originally a Chinese person who went to Malaysia in a desperate way because he only brought $ 100 in cash for his journey.
The first time, in Malaysia he worked as a carpenter with his uncle with a salary of 80 cents per day.
But his big dreams were considered by some as crazy ideas, his dream was to turn the arid hills of Genting Highlands into a tourist destination.
On April 27, 1965, Lim Goh Tong together with Tan Sri Haji Mohammed Noah bin Omar founded the Genting Highlands Berhad company.
Then get approval for the construction of a tourist resort from the local government of Pahang and Selangor.
This group develops, operates and markets integrated casinos and resorts in various parts of the world.
It also covers America, Australia, Malaysia, the Philippines, Singapore, and the United Kingdom.
Genting Highland is the only official casino in Malaysia.
To be one of the leading Malaysian companies and one of the best managed multinational companies in Asia.
This integrated resort group is Resorts World Genting, previously known as Genting Highlands Resort.
Not only that, Genting Group expanded by opening a concert, food & beverage and retail shopping, Strawberry Farm, at the Genting Highlands Resort.
This is one of the most popular tourist destinations in Malaysia.
Genting Group is a company that innovates by developing and diversifying into other activities such as plantations, information technology, power generation, property, oil and gas, e-commerce, and biotechnology.
This company dares to try new things and will not let its products stop at a point.
Genting Malaysia Berhad’s achievements
To add to the attraction of tourists, the resort Genting Highland launching the Skyway cable car in 1997.
Genting Skyway gained recognition as the World’s Fastest Mono Cable Car System with 21.6 km per hour and also became the Longest Cable Car in Malaysia and Southeast Asia.
In addition to these facilities, there is also plenty of transportation available, such as rental cars, taxis, express buses, limousine trains, shuttle services, or rented helicopters.
Genting Berhad is a Malaysian multinational company that received recognition from a variety of organizations because of its unique leadership and management.
Genting Berhad also received recognition as Leading Company Street Journal No. 200 (formerly Far Eastern Economic Review 200).
Also ranked No.1 in Malaysia and No.2 in Asia for the Overall Best Managed Company for the Decades by Asian money and No.5 in the Best Corporate Social Responsibility.
Genting is a choice for families, strollers, and children because of the presence of outdoor and indoor amusement parks.
What this amusement park has to offer is a unique experience of snow villages and haunted adventures that can be fun for all visitors.
For cyber addicts, Genting provides the most advanced cyber game in cyberspace.
In addition, the casino in Genting which is the only legal casino in Malaysia is the biggest attraction for adults because all popular gambling games are provided including Chinese games.
Genting Berhad has a geographical condition on the summit of Mount Titiwangsa, with an altitude of 2,000 meters above sea level.
With a calming natural temperature condition ranging from 16 to 23 degrees.
The climate is usually refreshing and cold, usually cloudy and foggy; therefore giving the natural feel of an air conditioner.
In addition, the view from the top offers an unforgettable enchanting experience.
This advantage attracts the attention of many who offer them less peace in a dusty city.
This benefit will attract tourists and foreigners to come and increase their income.
In addition, Genting locates within the Titiwangsa Mountains and between the states of Selangor and Pahang Malaysia which can be accessed by car
For example, we have to spend an hour to reach there from Kuala Lumpur.
Or, we can choose the cable car called Genting Skyway (3.38 km) which used to be the fastest in the world and the longest gondola lift in Southeast Asia.
Possible threats or risks are facing landslide risk because the company is located on a hilltop.
Like an amusement park and the casino is on a hill.
The government does not have a budget for electricity and water and companies must make it themselves.
Besides the threat of landslides, there are also many competitors from the Genting Company, such as China and Singapore who also want to open legal gambling and hotels for gamblers to attract them.
This is because casinos and gambling provide high profits
If the two countries truly realize the benefits that could initially be obtained by Genting Berhad throughout South Asia, it must be divided into several parts.
The de Genting Casino has the support of the Malaysian government and is also a threat.
The government limits with strict rules for casinos.
And it will be an opportunity for them to divert investments in other Asian countries with non-strict gambling laws such as the Philippines.
If it becomes Genting’s income it will decrease.
Prices and services charged to Genting are higher than normal companies.
Because the company is located on a hill, this adds to the company’s cost burden.
Genting Malaysia BHD which in symbol shares is GENM was listed on the Bursa Malaysia Stock exchange on December 22, 1989.
The value of GENM shares continues to change over time.
From the data obtained on the Investing chart, the highest price that can be seen has occurred in 2017 with $ 6.13 per share.
After that prices move up and down in the range of $ 4 – $ 6 for several months.
Until finally on November 29, 2018, there was a very sharp gap down and made the stock price decline to the price of $ 3.13.
And until now the GENM stock price fluctuations in the range of 2 $ – $ 4.
And the latest prices indicate a decline still occurred in the Genting Malaysia BHD shares which brought it to $ 2.62.
The total market capitalization of GENM from the KLSE data is 15,558 Million with trading volume ranging from 24,501,800.
During 52-week price movements range from $ 2.62-4 $ with volatility 0%.
Some of the reasons mentioned in the decline in the value of GENM shares are by the impact of coronavirus or COVID-19.
Which is really causing the tourism and hospitality industry to decline.
Genting Malaysia BHD’s net profit was RM299.7m for 4QFY19, down 58.4% YoY due to the impact of the downturn in the industry.
Besides that, the US applies higher tariffs and is the reason for the decline in corporate profits.
The stock price which tends to decrease due to the impact of coronavirus has caused some shares to experience a serious shock.
Not only on GENM but also on the Dow index and others.
While the spread of coronaviruses that have entered more countries is reporting new cases of coronaviruses causing new concerns for humanity.
Some investors asked beforehand whether GENM would arrive at $ 2.72.
And it turns out that now the price has reached $ 2.62, which means a decrease far from investor expectations.
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