Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Genting Berhad and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Resorts World Sentosa, one of Singapore's biggest private sector employers, said on Wednesday it was laying off staff to cut costs as the coronavirus pandemic batters the city-state's tourism industry. The company, owned by Genting Singapore Ltd, did not disclose how many jobs will be lost, but the local Straits Times newspaper said the cuts were "significant". A spokesperson for Resorts World Sentosa said the firm had over 7,000 full-time employees at the end of 2019, but declined to comment on its current employment level.
Moody's Investors Service has downgraded the issuer rating of Genting Berhad (GENB) to Baa2 from Baa1. Moody's has also downgraded the issuer rating of Genting Overseas Holdings Limited (GOHL), a wholly-owned subsidiary of GENB, to Baa2 from Baa1.
* Singapore shares drop to the lowest level since April-end * Sime Darby Plantations top loser in Malaysian index By Pranav A K May 14 (Reuters) - Most Southeast Asian stock markets fell on Thursday as fears of a delay in economic recovery due to rising coronavirus cases in countries easing lockdowns were exacerbated by dour outlook from the U.S. Federal Reserve chairman. All three major U.S. stock indexes ended lower overnight after Fed Chair Jerome Powell warned of an "extended period" of weak economic growth, pointing to uncertainty over how well future outbreaks of the virus can be ...
* Philippines hits lowest since April 6 * Malaysia's March CPI falls 0.2% y/y * Singapore benchmark hits two-week low By Nikhil Subba April 22 (Reuters) - Most Southeast Asian stock markets fell for a second session on Wednesday as the collapse of oil prices earlier this week underscored supply glut worries and exposed the severity of the damage to demand from the coronavirus pandemic. The week so far has seen some of the most volatile days in the history of oil trading, with prices for U.S. crude turning negative, as inventories swelled and finding storage spaces became difficult, ...
Moody's Investors Service has placed on review for downgrade the Baa1 issuer rating of Genting Berhad (GENB) and the A3 issuer rating of Genting Singapore Limited (GENS). At the same time, Moody's has placed on review for downgrade the Baa1 issuer rating of Genting Overseas Holdings Limited (GOHL), a wholly-owned subsidiary of GENB.
Hooray Agency announced today that it has been named as the Advertising Agency of Record (AOR) for Resorts World Las Vegas. Opening in the Summer of 2021, Resorts World will be the most comprehensive and significant luxury integrated resort to open in Las Vegas in over 10 years, with a capital investment of $4.3 billion. As the AOR, Hooray will be responsible for establishing the brand's identity, crafting an integrated advertising campaign, building a customer-centric ecommerce experience, and supporting the grand opening vision.