Genting Singapore (GS) was reported to have slashed about 400 jobs – mainly coupiers, supervisors and pit managers – under a downsizing plan that started in May; this as it manages its headcount of 12k staff to meet its business needs.

According to RWS, it has been working closely with the Ministry of Manpower (MOM) and the Attractions, Resorts & Entertainment Union (AREU) to ensure that fair terms are extended to all affected staff.

GS did not reveal the cost of the exercise, but we believe this will likely to be reflected in the 2Q16 results. For now, we have a HOLD rating on the company with a S$0.72 fair value.

Source: OCBC Research - 13 Jun 2016