Genting Bhd. · MYX:GENTING

Genting Bhd — Shareholder Meeting (September 2021)

61 slides from Genting Bhd's shareholder meeting presentation, Sep 23, 2021

  1. Slide 1: Postponed 53rd AGM Presentation, 23 September 2021

    Postponed 53rd AGM Presentation 23rd September 2021 Copyright © 2021 2020 Genting Berhad 196801000315 (7916-A). All Rights Reserved. Reserved.

  2. Slide 2: Agenda

    Agenda 1. Key Performance Highlights 2. Business Review – Genting Malaysia – Genting Singapore – Resorts World Las Vegas – Genting Plantations – Genting Energy 3. Looking Ahead 4. Pre-submitted Questions from MSWG and Shareholders Reserved.. Copyright © 2020 Genting Berhad 196801000315 (7916-A). All

  3. Slide 3: Key Performance Highlights

    KEY PERFORMANCE HIGHLIGHTS Reserved.. Copyright © 2020 Genting Berhad 196801000315 (7916-A). All Rights Reserved Postponed 53rd AGM 23 September 2021 # 3

  4. Slide 4: Group Financial Overview – Steady Growth

    Group Financial Overview – Steady Growth Revenue EBITDA Net Profit (RM billion) (RM billion) (RM billion) y-o-y: y-o-y: y-o-y: 3-year CAGR: 6% -47% 3-year CAGR: 9% -63% 3-year CAGR: -2% ->100% 20.0 20.9 21.6 8.1 7.9 18.4 7.1 6.1 4.5 11.6 3.2 3.7 2.9 2.4 2016 2017 2018 2019 2020 2016 2017 2018 2019 2

  5. Slide 5: Group Financial Overview – Balance sheet remains strong

    Group Financial Overview – Balance sheet remains strong Total Assets Shareholders' Equity Total Debt (RM billion) (RM billion) (RM billion) y-o-y: y-o-y: y-o-y: 3-year CAGR: 4% -2% 3-year CAGR: -3% -8% 3-year CAGR: 23% 11% 102.0 64.7 36.8 99.6 33.1 27.2 29.2 96.1 59.3 93.6 57.1 57.4 18.0 91.5 54.5 2

  6. Slide 6: Genting Group – Globally Diversified

    Genting Group – Globally Diversified Revenue by Location 41% 44% 37% 36% 39% 36% 37% 36% 35% 28% 17% 8% 8% 7% 10% 10% 9% 8% 9% 10% 9% 9% 7% 6% 6% Malaysia Singapore US & Bahamas UK & Egypt Others EBITDA by Location 49% 47% 45% 46% 46% 45% 43% 39% 40% 39% 26% 10% 7% 10% 1% 2% 3% 3% 3% 3% 1% 3% 3% -8%

  7. Slide 7: Group Financial Overview - Business Segments

    Group Financial Overview - Business Segments Revenue by business segments 2016 - Revenue 2019 - Revenue 2020 - Revenue Leisure & Hospitality GENE Others Others Plantations Others GENE GENE 6.3% 0.7% 2.6% 0.5% GENP 10.9% GENP 6.7% 11.0% GENM GENM Energy GENM 8.5% (RWG) (RWG ) (RWG) US & US & 27.0% Ot

  8. Slide 8: Group Financial Overview – Consistent dividends

    Group Financial Overview – Consistent dividends Dividend Per Share Company Dividend Payout (sen) (Percentage) y-o-y: 4-year CAGR: -5% -32% 21.5 21.5 22.0 146.0 138.0 7.0 7.0 9.5 15.0 12.5 84.0 84.8 6.0 6.0 72.2 72.2 8.5 6.5 6.0 8.5 8.5 6.0 6.5 6.5 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 In

  9. Slide 9: Group Financial Overview – Capital Commitments for Global Expansion

    Group Financial Overview – Capital Commitments for Global Expansion In RM million 31 Dec 2020 31 Dec 2019 Genting Malaysia - Malaysia 1,880 2,687 - UK 92 352 - US & Bahamas 1,261 1,737 Genting Singapore 14,062 14,685 SGD4.5 billion – RWS 2.0 project Genting Plantations - Malaysia 594 617 - Indonesia

  10. Slide 10: Other Highlights

    Other Highlights FY2020 Genting Berhad – Market Employing over Investments with Capitalisation 45,000 operations in RM17.2 billion people globally 9 countries as at 31 December 2020 across 4 continents -18% -26% FY19: 23.3 billion FY19: 55,000 Protecting 94% ~1.0 million MT Jangi wind farm produced

  11. Slide 11: Business Review

    BUSINESS REVIEW Copyright © 2021 2020 Genting Berhad 196801000315 (7916-A). All Rights Reserved. Reserved. Postponed 53rd52 AGMnd53AGM 23 22 June September rd AGM 2 June 20212020 # 11

  12. Slide 12: Leisure & Hospitality – Genting Malaysia

    Leisure & Hospitality BUSINESS REVIEW GENTING MALAYSIA FY2020 Financial Highlights Revenue EBITDA RM4.5bn RM0.35bn  56%  87%  Group registered positive EBITDA in FY2020 despite unprecedented challenges, anchored by Malaysian operations Resorts World Genting, Malaysia Resorts World Catskills USA R

  13. Slide 13: Malaysia – Financials

    Leisure & Hospitality BUSINESS REVIEW MALAYSIA – Financials  Revenue declined mainly due to: In RM million FY20 FY19 Change • 3-month suspension of operations from 18 March 2020 Revenue 3,133.3 7,066.6 ↓56% • Intermittent travel restrictions in 2H20  Reopened with reduced capacity on 19 June 2020

  14. Slide 14: Video

    Leisure & Hospitality VIDEO Copyright © 2020 Genting Berhad 196801000315 (7916-A). All Rights Reserved. 53rd AGM 2 June 2021 14

  15. Slide 15: US & Bahamas – Financials

    Leisure & Hospitality BUSINESS REVIEW US & BAHAMAS – Financials  Revenue impacted by temporary closure of operations from mid-March 2020. In USD million FY20 FY19 Change Notwithstanding, Revenue 143.8 354.6 ↓59%  Reopening of RWNYC since 9 Sept 2020 have been well received  RW Bimini reopened sin

  16. Slide 16: US – Financials: Empire Resorts, Inc

    Leisure & Hospitality BUSINESS REVIEW US – Financials: Empire Resorts, Inc  Performance impacted by temporary closure of Resorts World Catskills since mid- In USD million FY20 FY19 Change March 2020 Revenue 96.9 239.6 ↓60%  Strong rebound in operating performance since Resorts World Catskills resu

  17. Slide 17: Genting Singapore FY2020 Financial Highlights

    Leisure & Hospitality BUSINESS REVIEW GENTING SINGAPORE FY2020 Financial Highlights Revenue EBITDA ~S$1.10bn ~S$427mln 56% 64% Resorts World Sentosa  During this period of adversity, the resort took the opportunity to re-imagine and re-adapt its offerings for its guests – such as creating the speci

  18. Slide 18: RWS Expansion Plan and Japan Integrated Resort Opportunity

    Leisure & Hospitality BUSINESS REVIEW RWS EXPANSION PLAN  RWS 2.0, the 5-year SGD4.5 billion mega expansion plan aims to transform Resorts World Sentosa into a centrepiece of Singapore’s tourism sector.  Revisions to its design works are ongoing and these include health and safety protocols to pro

  19. Slide 19: Resorts World Las Vegas – Grand Opening

    Leisure & Hospitality BUSINESS REVIEW RESORTS WORLD LAS VEGAS - GRAND OPENING (24 JUNE 2021) Grand Opening Ceremony Genting Chairman Tan Sri KT Lim, Nevada Governor Steve Sisolak, Hilton CEO Chris Nassetta, Resorts World Las Vegas President Scott Sibella, Lim family and other VIPs Copyright © 2020 G

  20. Slide 20: Resorts World Las Vegas – Grand Opening

    Leisure & Hospitality BUSINESS REVIEW RESORTS WORLD LAS VEGAS - GRAND OPENING (24 JUNE 2021) Copyright © 2020 Genting Berhad 196801000315 (7916-A). All Rights Reserved. Postponed 53rd AGM 23 September 2021 # 20

  21. Slide 21: Resorts World Las Vegas

    Leisure & Hospitality BUSINESS REVIEW RESORTS WORLD LAS VEGAS  First six days of operations, the resort recorded:  revenue: USD14.9 million, adjusted EBITDA: USD3.9 million driven by very strong casino and food and beverage operations.  71.2% average hotel occupancy rate based on available rooms,

  22. Slide 22: Resorts World Las Vegas

    Leisure & Hospitality BUSINESS REVIEW RESORTS WORLD LAS VEGAS  Exceptional accommodation using new age technology 3,506 guest rooms and suites (Las Vegas Hilton at Resorts World, Conrad Las Vegas at Resorts World and Crockfords Las Vegas, LXR Hotels & Resorts)  State-of-the-art casino – 117,000 sq

  23. Slide 23: Resorts World Las Vegas

    Leisure & Hospitality BUSINESS REVIEW RESORTS WORLD LAS VEGAS  Awana Spa – opened on 14 September 2021  Zouk Nightclub – opened on 17 September 2021  The Theatre at Resorts World Las Vegas – opening soon Copyright © 2020 Genting Berhad 196801000315 (7916-A). All Rights Reserved. Postponed 53rd AG

  24. Slide 24: Resorts World Las Vegas – Partnerships

    Leisure & Hospitality BUSINESS REVIEW RESORTS WORLD LAS VEGAS  The Hilton partnership Integrates three of Hilton’s premium brands  Partnering NV Energy for a long-term fully bundled electric and Hilton Honors (the award-winning guest loyalty programme) into service using 100 percent renewable reso

  25. Slide 25: Most Technologically Advanced Resort in Las Vegas

    Leisure & Hospitality BUSINESS REVIEW RESORTS WORLD LAS VEGAS  Most Technologically Advanced Resort in Las Vegas using artificial intelligence based systems and applications to create or offer unique and innovative features, such as:  West Tower Screen with 100,000-square-foot LED screen (one of t

  26. Slide 26: Genting Boulevard and Goh Tong Way

    Leisure & Hospitality BUSINESS REVIEW RESORTS WORLD LAS VEGAS – dedicated street names “Genting Boulevard” and “Goh Tong Way” Copyright © 2020 Genting Berhad 196801000315 (7916-A). All Rights Reserved. Postponed 53rd AGM 23 September 2021 # 26

  27. Slide 27: Genting Plantations FY2020 Financial Highlights

    Plantations & Downstream Manufacturing BUSINESS REVIEW GENTING PLANTATIONS FY2020 Financial Highlights  One of Malaysia’s lowest cost oil palm producer with total landbank of 243,446 Revenue EBITDA hectares. RM2.50 bn RM590mn  12 oil mills with total milling capacity of 665 metric tonnes/hour (tph

  28. Slide 28: Biotechnology & Property

    Biotechnology & Property BUSINESS REVIEW Biotechnology Property  Genomics R&D of high yielding planting materials and microbial  Property sales declined by 42% in 2020 due to soft property market solutions, towards Genting Plantations' profitability – such as: conditions owing to the pandemic,  M

  29. Slide 29: Power Generation and Oil & Gas

    Power Generation and Oil & Gas BUSINESS REVIEW FY2020 Financials Highlights Revenue Adjusted EBITDA RM1.28bn RM0.61bn ↓7% ↓9% POWER OIL & GAS Banten Power Plant, Java, Indonesia Chengdaoxi Block, China Copyright Copyright © 2020 © 2020 Genting Genting Berhad Berhad 196801000315 196801000315 (7916-A)

  30. Slide 30: Power Generation

    Power Generation BUSINESS REVIEW Power Indonesia – Banten power plant China – Meizhou Wan power plants India – Jangi wind farm  Achieved more than 80% plant availability in  Record-high revenue and profit in 2020,  Genting Energy’s first renewable project , 2020. following the drought season in F

  31. Slide 31: Oil & Gas

    Oil & Gas BUSINESS REVIEW Oil & Gas China – Chengdaoxi Oil Field Indonesia – Kasuri Block  Delivered approximately 2.9 million barrels of oil in 2020 and  Drilled 10 wells, extensive 2D and 3D seismic carried out Genting Oil & Gas’ share was above 1.4 million barrels of oil.  POD 1 will utilise 1

  32. Slide 32: Life Sciences

    Life Sciences BUSINESS REVIEW  For the past decade, Genting has invested in life science companies that are in various stages of R&D for new treatments and new ways to improve our health and lifestyle.  Our investments in:  TauRx Pharmaceuticals Ltd and Genting TauRx Diagnostics Centre Sdn Bhd su

  33. Slide 33: Awards

    Awards GENTING BERHAD GENTING ENERGY Top 3 Most Valuable Malaysian Brands in 2020 (Brand Finance) Banten Power Plant Programme for Pollution Control, Evaluation and Rating (Rated Blue) GENTING SINGAPORE - Resorts World Sentosa – 2nd consecutive year Best Integrated Resort (International) - inaugural

  34. Slide 34: Looking Ahead - Covid-19 Pandemic and Impact

    Looking Ahead - Covid-19 Pandemic and Impact  Global tourism, leisure and gaming industries are among the sectors hardest hit by the COVID-19 pandemic. For the first time in our history, we had to temporarily close all our resort operations worldwide at intermittent periods, in compliance with resp

  35. Slide 35: Minority Shareholders Watch Group (MSWG)

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM THE MINORITY SHAREHOLDERS WATCH GROUP (“MSWG”) Copyright © 2020 Genting Berhad 196801000315 (7916-A). All Rights Reserved. Postponed 53rd AGM 23 September 2021 # 35

  36. Slide 36: MSWG Part 1: Operational and Financial Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 1: OPERATIONAL AND FINANCIAL MATTERS Question 1: Genting Plantations recorded higher revenue and earnings mainly due to stronger palm products prices which outweighed the lower output of fresh fruit bunches. The downstream

  37. Slide 37: MSWG Part 1: Operational and Financial Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 1: OPERATIONAL AND FINANCIAL MATTERS Question 1: (b) What were the reasons for lower capacity utilisation for biodiesel and refinery operations in 2020 and the outlook for 2021? Response: The reasons were due to lower dema

  38. Slide 38: MSWG Part 1: Operational and Financial Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 1: OPERATIONAL AND FINANCIAL MATTERS Question 2: Genting Energy recorded lower revenue and earnings from the power business in 2020, mainly due to lower net generation and lower coal prices. (a) What were the reasons for t

  39. Slide 39: MSWG Part 1: Operational and Financial Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 1: OPERATIONAL AND FINANCIAL MATTERS Question 3: Genting Plantations’ biotechnology team strives to deliver value through its genomics research and the development of high yielding planting materials and microbial solution

  40. Slide 40: MSWG Part 1: Operational and Financial Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 1: OPERATIONAL AND FINANCIAL MATTERS Question 4: Genting Energy’s key power operations remained stable and contributed positively throughout 2020, with record high revenue and increased profits from Meizhou Wan (“MZW”) pow

  41. Slide 41: MSWG Part 1: Operational and Financial Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 1: OPERATIONAL AND FINANCIAL MATTERS Question 5: In relation to Genting Singapore’s geographical diversification strategy, it is encouraged by the steps taken by the City of Yokohama to launch a formal bidding process for

  42. Slide 42: MSWG Part 1: Operational and Financial Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 1: OPERATIONAL AND FINANCIAL MATTERS Question 6: Utilising 1.7 trillion cubic feet of discovered gas-in-place, Genting Oil Kasuri Pte Ltd plans to supply about 170 million cubic feet per day of natural gas until the end of

  43. Slide 43: MSWG Part 1: Operational and Financial Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 1: OPERATIONAL AND FINANCIAL MATTERS Question 7: Genting Plantations’ commitment towards sustainability has resulted in its continued engagement with industry certification bodies for its operations. Seven of the oil mills

  44. Slide 44: MSWG Part 2: Corporate Governance Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 2: CORPORATE GOVERNANCE MATTERS Question 1: Group revenue had declined by 46.5% from FY 2019 to FY 2020 while a net profit of RM3,681.1 million in FY 2019 had turned into a net loss of RM2,074.0 million in FY 2020 (a sharp

  45. Slide 45: MSWG Part 2: Corporate Governance Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 2: CORPORATE GOVERNANCE MATTERS Question 1 (cont’d): Response: a) We note that the question is based on the group financial data which includes contributions from our subsidiaries. The proper context is to look from the co

  46. Slide 46: MSWG Part 2: Corporate Governance Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 2: CORPORATE GOVERNANCE MATTERS Question 2: Practice 4.2 of Malaysian Code on Corporate Governance (MCCG) states that the tenure of an independent director does not exceed a cumulative term limit of nine years. Upon comple

  47. Slide 47: MSWG Part 2: Corporate Governance Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 2: CORPORATE GOVERNANCE MATTERS Question 2 (cont’d): Response: • Although a timeframe of 9 years is proposed, the Board is of the view that the ability of long serving independent directors to remain independent and to dis

  48. Slide 48: MSWG Part 2: Corporate Governance Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 2: CORPORATE GOVERNANCE MATTERS Question 3: Practice 4.5 of Malaysian Code on Corporate Governance (MCCG) stipulates that the board discloses in its annual report the company’s policies on gender diversity, its targets and

  49. Slide 49: MSWG Part 2: Corporate Governance Matters

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM MSWG: PART 2: CORPORATE GOVERNANCE MATTERS Question 4: Practice 4.6 of MCCG stipulates that in identifying candidates for appointment of directors, the board does not solely rely on recommendations from existing board members, manage

  50. Slide 50: The Shareholders

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM THE SHAREHOLDERS Copyright © 2020 Genting Berhad 196801000315 (7916-A). All Rights Reserved. Postponed 53rd AGM 23 September 2021 # 50

  51. Slide 51: Shareholders: Dividend Policy & No Door Gift

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM SHAREHOLDERS: 1. DIVIDEND POLICY & NO DOOR GIFT Question: We have received questions from shareholders requesting for participation or door gifts such as e-vouchers, e-coupons or e-wallet credits as a token of appreciation for attend

  52. Slide 52: Shareholders: Virtual AGM

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM SHAREHOLDERS: 2. VIRTUAL AGM Question: How cost effective is this year’s virtual AGM compared to last year’s virtual AGM and to previous year’s physical AGM ? Are Directors attending this virtual AGM being paid meeting allowances? Re

  53. Slide 53: Shareholders: Environment, Social and Governance

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM SHAREHOLDERS: 3. Environment, Social and Governance Question: What is Genting Berhad’s commitment in managing ESG (Environment, Social and Governance) issues? Response: ESG is a new global theme which we view as important. Going forw

  54. Slide 54: Shareholders: COVID-19 Pandemic

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM SHAREHOLDERS: 4. COVID-19 PANDEMIC Question: How did the company manage the COVID-19 pandemic and what is the outlook? Response: The company has undertaken proactive measures to manage the impact of the COVID-19 pandemic by adhering

  55. Slide 55: Shareholders: Digital Banking

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM SHAREHOLDERS: 5. DIGITAL BANKING Question: Is Genting interested in digital banking? Response: We have always been at the forefront in applying technology to our businesses across the group such as Perfect Pay gaming table, on-premis

  56. Slide 56: Shareholders: Online Gaming

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM SHAREHOLDERS: 6. ONLINE GAMING Question: Will Genting Berhad venture into online gaming? Response: This is an area of interest to Genting Berhad as it provides access to a wider gaming market using the latest technology. However, we

  57. Slide 57: Shareholders: Life Sciences - TauRx

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM SHAREHOLDERS: 7. LIFE SCIENCES - TAURX Question: Please update us regarding the progress of the Alzheimer's medicine which is currently being developed by TauRx Pharmaceuticals and is there any target year when this medicine will be

  58. Slide 58: Shareholders: Resorts World Las Vegas

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM SHAREHOLDERS: 8. RESORTS WORLD LAS VEGAS (“RWLV”) Question: How is the performance of RWLV and what is its outlook? Any listing plans? Response: RWLV has produced better-than-expected results with a large number of guests enjoying th

  59. Slide 59: Shareholders: Macau Opportunities

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM SHAREHOLDERS: 9. MACAU OPPORTUNITIES Question: Are there any opportunities for Genting in Macau? Response: Yes, we are interested in Macau as it is an opportunity for a strong Asian-based gaming operator like Genting, with vast exper

  60. Slide 60: Shareholders: Genting Hong Kong

    Postponed 53rd Annual General Meeting PRE-SUBMITTED QUESTIONS FROM SHAREHOLDERS: 10. GENTING HONG KONG Question: What is the amount currently owning by Genting Hong Kong, any impairment and what are the chances of its recovery ? Response: The bulk of the outstanding amount relates to rental charges

  61. Slide 61: End of CFO Presentation – Disclaimer

    Postponed 53rd Annual General Meeting End of CFO Presentation Disclaimer Some of the statements made in this presentation which are not statements of historical facts are forward-looking statements and are based on the current beliefs, assumptions, expectations, estimates, objectives and projections

Genting Berhad — Shareholder Meeting (September 2021) on 6ix