KUALA LUMPUR (Aug 25): Shares in Genting Bhd and Genting Malaysia Bhd (GenM) declined rapidly today after news broke that the widow of late founder Tan Sri Lim Goh Tong had passed away.

Puan Sri Lee Kim Hua, 88, was reported by China Press to have passed away this morning.

Genting Malaysia was the third largest decliner on the stock exchange as at 3.30pm today, falling 25 sen or 4.13% to RM5.80 apiece.

Meanwhile, parent group Genting also ranked among the top 10 decliners in afternoon trade, falling 16 sen or 1.63% to RM9.63 per share.

Yesterday, both companies released their financial results for the second quarter ended June 30, which saw Genting's net profit jumping 57% year-on-year to RM456.33 million, helped by a gain on disposal of financial assets, while revenue strengthened 17% to RM4.95 billion.

However, GenM, in which Genting has a 49.32% stake, reported a 60% y-o-y drop in net profit to RM193.42 million — despite a 3% gain on revenue to RM2.23 billion — on unfavourable foreign exchange translation and higher operating costs.

Shares in Genting Plantations Bhd were also not spared, slipping 2 sen to RM10.54 a share.