resorts

Genting Singapore sees 4Q earnings rise 12% to $150 mil on higher visitors, hotel occupancy

SINGAPORE (Feb 21): Genting Singapore (GENS) announced earnings of $150.2 million for the 4Q ended Dec 2018, rising 12% y-o-y from its earnings of $134 million in 4Q17 due to higher revenue.

This brings the group’s earnings for the full year to $755.4 million, up 10% from $685.6 million in the previous year.

Hatten to develop $67 mil water themepark at Harbour [email protected]

SINGAPORE (Aug 7): Hatten Land intends to jointly build a RM200 million ($67 million) water themepark in Melaka, Malaysia, in collaboration with resort operator Samsung C&T Corp and Polin Waterparks, the designer and installer of water slides.

Named Splash World @ Harbour City, the four-storey water park spanning 500,000 sf is expected to complete construction by end 2019 and be open to the public in 1H20 with a capacity of 5,200 visitors per day.

Banyan Tree 4Q earnings halved to $3.9 mil on higher expenses

SINGAPORE (Feb 27): Banyan Tree Holdings reported earnings of $3.9 million for the quarter ended Dec 2017, down by more than half of the $8.5 million posted in the same period a year ago on higher expenses.

Revenue for the quarter grew 9% to $88.9 million due to higher revenue from the group’s property sales segment on the back of higher recognition from Laguna Park townhomes/villas, along with the completion of Cassia Phuket Phase 2 condominiums over 4Q.

KOP swings back to black in 3Q with $7 mil earnings

SINGAPORE (Feb 14): KOP Limited is back in the black with $7 million of earnings for 3Q18, compared to its loss of $0.5 million a year ago on a near-tripling of revenue over the period under review.

Revenue was up 179% at $14.8 million from $5.3 million a year ago mainly due to an increase in revenue from the real estate origination and management services segment and hospitality segment – driven by the establishment fee from a joint venture, Shanghai Snow Star Properties, and higher occupancy rate in relation to Montigo Resorts, Nongsa, respectively.

MGM opens new US$3.4 bil resort in Macau

HONG KONG (Feb 13): MGM Resorts International’s debut of its US$3.4 billion ($4.5 billion) property Tuesday is the latest bet on the world’s biggest casino hub, as licensing bids and China’s proposal to allow gambling on a nearby island cast uncertainties over Macau’s future.

Maldives property could add to Keong Hong’s recurring income

(Oct 2) The Mercure Maldives Kooddoo Resort was launched to great fanfare on Sept 25, despite already being in business for a month. In attendance were Maldivian president Abdulla Yameen Abdul Gayoom, the Maldivian ministers for tourism and economic development, and members of parliament. Representing Singapore were non-resident ambassador to the Maldives Chua Thian Poh and Keong Hong Holdings CEO Ronald Leo.

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Banyan Tree swings back to profitability in 4Q with earnings of $8.5 mil

SINGAPORE (Feb 23): Banyan Tree Holdings, the manager and developer of luxury hotels, resorts and spas in Asia, has declared $8.5 million in 4Q earnings on higher operating profit – a turnaround from the $18.4 million loss posted in 4Q15.

Banyan Tree may redraw plans for Gold Coast site

SINGAPORE (Feb 10): Banyan Tree Holdings is said to be considering redrawing its existing and already-approved plans to build a twin-tower serviced apartment and residential development, Cassia Northpoint, on its Surfers Paradise site in Gold Coast, Australia.

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