Genting empire keeps dividends even as casino, resorts stung

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The Covid-19 pandemic has severely impacted casinos, cruises and resorts in the Genting group. (Reuters pic)KUALA LUMPUR: Companies in the Genting group are keeping up dividend payments despite the conglomerate facing its gravest challenge yet as the Covid-19 pandemic roils its collection of casinos, cruises and resorts. Genting Bhd and Genting Malaysia Bhd are keeping their interim dividend payments of 6.5 sen and 6 sen a share, respectively, the same as in 2019, according to stock exchange filings. Genting Bhd reported its worst quarter in records going back to 1999, while Genting Malaysia’s net loss was the biggest since 2000. For the rest of the year, the group “remains pessimistic on the overall financial performance as global travel remains highly restrictive”, it said in a statement. Cracks were already starting to show even before cruise operator Genting Hong Kong Ltd said…