RHB Investment Research Reports

Author: rhbinvest   |   Latest post: Mon, 20 Mar 2023, 6:40 PM


Genting Singapore Revising Resorts World Sentosa Expansion Plan, Says Chairman

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KUALA LUMPUR (March 30): Genting Singapore Ltd executive chairman Tan Sri Lim Kok Thay said the group is revising its S$4.5 billion (approximately RM13.97 billion) mega expansion plan for Resorts World Sentosa (RWS).

In the group’s 2021 annual report, Lim said the revision is to ensure that the new expanded integrated resort takes into account the necessary health and safety protocols, while repositioning RWS to be a destination for both families and premium customers.

“Our flagship RWS performance will continue to be adversely affected as visitation will continue to be limited to only the domestic market.

“The protracted [Covid-19] pandemic has spurred the RWS team to adapt and innovate to attract local and repeat customers, with strengthening of the meetings, incentives, conferences and exhibitions (MICE) and corporate businesses.

“RWS was one of the first companies in Singapore to receive the ‘SG SafeEvent venue’ certification accorded by the Singapore Association of Convention & Exhibition Organisers & Suppliers (SACEOS),” he said.

Lim added that RWS had been developing creative events and continuing to reimagine its offerings for local tourists.

He also pointed out that the group is working closely with the Singapore Tourism Board and Sentosa Development Corporation to position Singapore as a sustainable tourism destination and to nurture an environmentally conscious workforce and community.

“As one of the founding members of the Sentosa Carbon Neutral Network in Singapore, we are committed to achieving carbon neutrality by 2030.

“Moving forward, we will also partner with other agencies and institutions to further the global and local sustainability agenda,” he shared.

Source: TheEdge - 31 Mar 2022

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