Declared Dividend • Apr 16
Final dividend of S$0.02 announced Dividend of S$0.02 is the same as last year. Ex-date: 30th April 2026 Payment date: 26th May 2026 Dividend yield will be 5.6%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not covered by earnings (124% earnings payout ratio) nor is it covered by cash flows (400% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 38% to bring the payout ratio under control. EPS is expected to grow by 39% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Apr 15
Genting Singapore Limited Proposes Final One-Tier Tax Exempt Dividend for the Financial Year Ended 31 December 2025, Payable on 26 May 2026 Genting Singapore Limited announced that the Register of Members and the Register of Share Transfers of Genting Singapore Limited will be closed on 4 May 2026 until 5 May 2026 for the purpose of determining shareholders' entitlements to the proposed final one-tier tax exempt dividend of 2 Singapore cents per ordinary share in the Company ("Share") for the financial year ended 31 December 2025 ("Final Dividend"). Duly completed registrable transfers with the relevant share certificates received on 4 May 2026 will be registered to determine shareholders' entitlements to the Final Dividend. Shareholders (being depositors) whose securities accounts with The Central Depository (Pte) Limited are credited with Shares on 4 May 2026 will be entitled to the Final Dividend. Payment of the Final Dividend, if approved by the shareholders at the forthcoming Annual General Meeting of the Company to be held on 15 April 2026, will be made on 26 May 2026. Announcement • Mar 24
Genting Singapore Limited, Annual General Meeting, Apr 15, 2026 Genting Singapore Limited, Annual General Meeting, Apr 15, 2026, at 10:00 Singapore Standard Time. Location: equarius hotel ballroom, equarius hotel, 16 sentosa gateway, resorts world sentosa, singapore 098269, Singapore Reported Earnings • Feb 26
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: S$0.032 (down from S$0.048 in FY 2024). Revenue: S$2.45b (down 3.1% from FY 2024). Net income: S$390.3m (down 33% from FY 2024). Profit margin: 16% (down from 23% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Announcement • Jan 20
Genting Singapore Limited to Report Fiscal Year 2025 Results on Feb 24, 2026 Genting Singapore Limited announced that they will report fiscal year 2025 results After-Market on Feb 24, 2026 Buy Or Sell Opportunity • Jan 07
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at S$0.72. The fair value is estimated to be S$0.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Buy Or Sell Opportunity • Nov 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.6% to S$0.73. The fair value is estimated to be S$0.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Upcoming Dividend • Aug 23
Upcoming dividend of S$0.02 per share Eligible shareholders must have bought the stock before 27 August 2025. Payment date: 17 September 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.4%. Lower than top quartile of Singaporean dividend payers (5.6%). Higher than average of industry peers (3.6%). Reported Earnings • Aug 09
First half 2025 earnings released: EPS: S$0.019 (vs S$0.03 in 1H 2024) First half 2025 results: EPS: S$0.019 (down from S$0.03 in 1H 2024). Revenue: S$1.21b (down 10% from 1H 2024). Net income: S$234.7m (down 34% from 1H 2024). Profit margin: 19% (down from 26% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Asia. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 09
First half dividend of S$0.02 announced Dividend of S$0.02 is the same as last year. Ex-date: 27th August 2025 Payment date: 17th September 2025 Dividend yield will be 5.4%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not covered by earnings (106% earnings payout ratio) nor is it covered by cash flows (297% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 18% to bring the payout ratio under control. EPS is expected to grow by 39% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. New Risk • Aug 08
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 297% Dividend yield: 5.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Jul 02
Genting Singapore Limited to Report First Half, 2025 Results on Aug 07, 2025 Genting Singapore Limited announced that they will report first half, 2025 results on Aug 07, 2025 Upcoming Dividend • Apr 27
Upcoming dividend of S$0.02 per share Eligible shareholders must have bought the stock before 02 May 2025. Payment date: 27 May 2025. Payout ratio is on the higher end at 83%, and the cash payout ratio is above 100%. Trailing yield: 5.4%. Lower than top quartile of Singaporean dividend payers (6.0%). Higher than average of industry peers (4.0%). Declared Dividend • Apr 13
Final dividend of S$0.02 announced Dividend of S$0.02 is the same as last year. Ex-date: 2nd May 2025 Payment date: 27th May 2025 Dividend yield will be 5.8%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but not covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 24
Genting Singapore Limited, Annual General Meeting, Apr 14, 2025 Genting Singapore Limited, Annual General Meeting, Apr 14, 2025, at 10:00 Singapore Standard Time. Location: resorts world ballroom west, resorts world convention centre, basement 2, 8 sentosa gateway, resorts world sentosa, singapore 098269, Singapore Reported Earnings • Feb 21
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: S$0.048 (down from S$0.051 in FY 2023). Revenue: S$2.53b (up 4.6% from FY 2023). Net income: S$578.9m (down 5.3% from FY 2023). Profit margin: 23% (down from 25% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.2%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Asia. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jan 18
Genting Singapore Limited to Report Fiscal Year 2024 Results on Feb 20, 2025 Genting Singapore Limited announced that they will report fiscal year 2024 results at 5:00 PM, Singapore Standard Time on Feb 20, 2025 Board Change • Nov 15
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Chien Chien Wong was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Aug 16
First half dividend of S$0.02 announced Shareholders will receive a dividend of S$0.02. Ex-date: 28th August 2024 Payment date: 18th September 2024 Dividend yield will be 4.8%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 14
Genting Singapore Limited Proposes One-Tier Tax Exempt Interim Dividend for the Financial Year Ending 31 December 2024, Payable on September 18, 2024 Genting Singapore Limited proposed one-tier tax exempt interim dividend of 2 Singapore cents per ordinary share in the Company for the financial year ending 31 December 2024. Shareholders (being depositors) whose securities accounts with The Central Depository (Pte) Limited are credited with Shares as at 5.00 p.m. on 29 August 2024 will be entitled to the Interim Dividend. Payment of the Interim Dividend will be made on 18 September 2024. Announcement • Jul 10
Genting Singapore Limited to Report First Half, 2024 Results on Aug 14, 2024 Genting Singapore Limited announced that they will report first half, 2024 results on Aug 14, 2024 Announcement • Apr 30
Genting Singapore Limited Appoints Wong Chien Chien as Independent Non-Executive Director Genting Singapore Limited announced the appointment of Wong Chien Chien as Independent Non-Executive Director. Working Experience is Awbury Asia Pte Ltd. (Jan 2024 - Present) Senior Advisor Credit Suisse (1992 - 2023): 1. Managing Director, Singapore Chief Executive Officer (Jan 2022 - Feb. 2023) 2. Managing Director, Chief Operating Officer, Asia Pacific Division (2016 - June 2022) 3. Managing Director, Business Chief Operating Officer, Asia Pacific Division & Singapore Branch Manager (2015 - 2016) 4. Managing Director, Chief Operating Officer, Investment Bank Asia Pacific (Fixed Income, Equities, Investment Banking & Capital Markets) & Singapore Branch Manager (2012 - 2015). Other DirectorShips Past:- Full time occupation Credit Suisse (1992 - 2023): 1. January 2022 - Feb. 2023: Managing Director, Singapore Chief Executive Officer 2. 2016 - June 2022: Managing Director, Chief Operating Officer, Asia Pacific Directorships and Appointments (Credit Suisse) 1. May 2022 - March 2023: Authorized Representative, Credit Suisse AG, Singapore Branch 2. March 2022 - February 2023: Board Member, Credit Suisse Securities (Singapore) Pte Ltd. 3. January 2022 - February 2023: Board Member, Credit Suisse (Singapore) Limited 4. October 2018 - June 2022, Board Member, Credit Suisse Securities (Japan) Limited Non-Profit Organization 1. December 2015 - January 2020: Board Member, Autism Partnership Limited, HK. Director Experience Details:- Ms. Wong has attended relevant courses organised by the Singapore Institute of Directors. Professional Qualifications are 1. Member of Certified Public Accountants of Singapore 2. Fellow of Certified Public Accountants of Australia 3. Bachelor of Accountancy (Honours), National University of Singapore. Announcement • Apr 19
Genting Singapore Limited Approves Final One-Tier Tax Exempt Dividend for the Financial Year Ended 31 December 2023 Genting Singapore Limited at the Annual General Meeting held on 18 April 2024, approved a final one-tier tax exempt dividend of $0.02 per ordinary share for the financial year ended 31 December 2023. Reported Earnings • Feb 23
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: S$0.051 (up from S$0.028 in FY 2022). Revenue: S$2.42b (up 40% from FY 2022). Net income: S$611.6m (up 80% from FY 2022). Profit margin: 25% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.7%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Hospitality industry in Singapore. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Feb 22
Genting Singapore Limited Appoints Andrew Macdonald as Director Genting Singapore Limited appointed Andrew MacDonald as Director. Mr. Andrew MacDonald is the Chief Casino Officer of Resorts World at Sentosa Pte. Ltd. (RWS) since 1 September 2022. The Nominating Committee and the Board have assessed and are satisfied that Mr. Andrew MacDonald has the qualifications and experience to be appointed as the Director of RWS, the indirect wholly-owned subsidiary of the Company. Role And Responsibilities: The appointment is executive in nature. Mr. Andrew MacDonald is currently the Chief Casino Officer and is responsible for overseeing the overall casino business at RWS. Working Experience: Chief Casino Officer, RWS (since 1 September 2022), and Chief Casino Officer /Senior Vice President, Marina Bay Sands (January 2010-July 2021). Other DirectorShips Past: Chief Casino Officer /Senior Vice President, Marina Bay Sands. Date of appointment is February 22, 2024. Buy Or Sell Opportunity • Feb 05
Now 20% undervalued Over the last 90 days, the stock has risen 15% to S$1.01. The fair value is estimated to be S$1.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 42%. For the next 3 years, revenue is forecast to grow by 7.8% per annum. Earnings are also forecast to grow by 9.9% per annum over the same time period. Announcement • Jan 17
Genting Singapore Limited to Report Fiscal Year 2023 Results on Feb 22, 2024 Genting Singapore Limited announced that they will report fiscal year 2023 results After-Market on Feb 22, 2024 Buying Opportunity • Jan 13
Now 21% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be S$1.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 42%. For the next 3 years, revenue is forecast to grow by 7.8% per annum. Earnings is also forecast to grow by 9.9% per annum over the same time period. Upcoming Dividend • Aug 21
Upcoming dividend of S$0.015 per share at 3.8% yield Eligible shareholders must have bought the stock before 28 August 2023. Payment date: 22 September 2023. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (3.0%). Announcement • Aug 11
Genting Singapore Limited Proposes One-Tier Tax Exempt Interim Dividend for the Financial Year Ending 31 December 2023, Payable on 22 September 2023 Genting Singapore Limited announced that the proposed one-tier tax exempt interim dividend of 1.5 Singapore cents per ordinary share in the Company for the financial year ending 31 December 2023 ("Interim Dividend"). Payment of the Interim Dividend will be made on 22 September 2023. Reported Earnings • Aug 11
First half 2023 earnings released: EPS: S$0.023 (vs S$0.007 in 1H 2022) First half 2023 results: EPS: S$0.023 (up from S$0.007 in 1H 2022). Revenue: S$1.08b (up 63% from 1H 2022). Net income: S$276.7m (up 228% from 1H 2022). Profit margin: 26% (up from 13% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Singapore. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jul 06
Genting Singapore Limited to Report First Half, 2023 Results on Aug 10, 2023 Genting Singapore Limited announced that they will report first half, 2023 results on Aug 10, 2023 Board Change • Jun 15
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Winston Hauw was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 26
Upcoming dividend of S$0.02 per share at 3.5% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 24 May 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.5%. Lower than top quartile of Singaporean dividend payers (6.4%). Higher than average of industry peers (3.1%). Price Target Changed • Feb 21
Price target increased by 7.3% to S$1.09 Up from S$1.02, the current price target is an average from 19 analysts. New target price is 8.3% above last closing price of S$1.01. Stock is up 29% over the past year. The company is forecast to post earnings per share of S$0.053 for next year compared to S$0.028 last year. Reported Earnings • Feb 21
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: S$0.028 (up from S$0.015 in FY 2021). Revenue: S$1.73b (up 62% from FY 2021). Net income: S$340.1m (up 86% from FY 2021). Profit margin: 20% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Singapore. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Feb 02
Genting Singapore Limited Announces Executive Changes The Board of Directors of Genting Singapore Limited announced the appointment of Ms Liew Lan Hing as Company Secretary, in place of Mr. Ong Jinq Her, with effect from 1 February 2023. Announcement • Jan 17
Genting Singapore Limited to Report Fiscal Year 2022 Results on Feb 20, 2023 Genting Singapore Limited announced that they will report fiscal year 2022 results After-Market on Feb 20, 2023 Upcoming Dividend • Aug 19
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 26 August 2022. Payment date: 20 September 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.2%. Lower than top quartile of Singaporean dividend payers (6.0%). Lower than average of industry peers (1.4%). Reported Earnings • Aug 13
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down S$88.2m from profit in 1H 2021). Profit margin: (down from 16% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 59%, compared to a 32% growth forecast for the industry in Singapore. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 29
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 06 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Singaporean dividend payers (5.8%). Lower than average of industry peers (1.4%). Major Estimate Revision • Feb 24
Consensus revenue estimates fall by 12% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from S$1.82b to S$1.61b. EPS estimate fell from S$0.03 to S$0.03 per share. Net income forecast to grow 100% next year vs 24% growth forecast for Hospitality industry in Singapore. Consensus price target broadly unchanged at S$0.92. Share price fell 2.5% to S$0.77 over the past week. Reported Earnings • Feb 18
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: S$0.015 (up from S$0.006 in FY 2020). Revenue: S$1.07b (flat on FY 2020). Net income: S$183.3m (up 165% from FY 2020). Profit margin: 17% (up from 6.5% in FY 2020). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 9.0%. Over the next year, revenue is forecast to grow 57%, compared to a 60% growth forecast for the restaurants industry in Singapore. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 13
Consensus revenue estimates fall to S$1.37b The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from S$1.53b to S$1.37b. EPS estimate fell from S$0.024 to S$0.022 per share. Net income forecast to grow 264% next year vs 70% growth forecast for Hospitality industry in Singapore. Consensus price target broadly unchanged at S$0.94. Share price was steady at S$0.80 over the past week. 
