Genting Singapore has announced that it will no longer release its financial information on a quarterly basis following recent amendments to listing rules on the Singapore Exchange.
Instead, having taken costs, time and effort into consideration, Genting Singapore said it has “decided not to continue with quarterly reporting and will instead release the financial statements of the Company and the Group on a half-yearly basis. Accordingly, the Company shall cease quarterly reporting with immediate effect, and its next financial results announcement shall be in respect of the half-year ending 30 June 2020.”
The company added that it will provide voluntary quarterly business updates to shareholders related to its first and third quarter financial results. However, it said, “the board believes that a half-yearly financial reporting cycle and the provision of voluntary quarterly business updates, together with the observation of strengthened disclosure requirements, is sufficient to keep the shareholders informed of the Group’s state of affairs.”
Genting Singapore recently reported a 9% year-on-year decline in revenue to SG$607.2 million (US$438 million) for the three months to 31 December 2019, including a 13% fall in casino revenue at Resorts World Sentosa.
