GEN Singapore nods 2021 dividend, Lim Kok Thay re-elected

Apr 22, 2022 Newsdesk Latest News, Singapore, Top of the deck  

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The board of Genting Singapore Ltd approved on Thursday a final dividend at SGD0.01 (US$0.007) per ordinary share, among a series of resolutions at the firm’s annual general meeting.

Payment of the final dividend would be made on May 25, Genting Singapore mentioned in an April 20 notice.

Genting Singapore Ltd – which runs the Resorts World Sentosa casino resort in Singapore – saw its annual net profit rise sharply year-on-year in 2021, to SGD183.3 million, compared to SGD69.2 million the year before.

Its market rival in the city-state’s casino duopoly is United States-based Las Vegas Sands Corp, which runs Marina Bay Sands.

Genting Singapore’s board also approved on Thursday, directors’ fees up to an aggregate of SGD2.03 million for the financial year ending December 31, 2022.

Malaysian entrepreneur Lim Kok Thay, from the family that founded the Genting group, was re-elected as a director of Genting Singapore at the annual general meeting. He will continue to serve as executive chairman of the firm.

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