GenM putting finishing touches on Genting SkyWorlds theme park

GenM putting finishing touches on Genting SkyWorlds theme park
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KUALA LUMPUR (Aug 12): Genting Malaysia Bhd's (GenM) outdoor theme park Genting SkyWorlds is said to be in its final stage of development before its opening.

In a video released on the Genting SkyWorlds Facebook page today, Resorts World Genting's head of business operations and strategies Lee Thiam Kit said the theme park is almost ready.

"We are almost ready. We are putting the finishing touches. We believe we will deliver the very best experience to our guests throughout this journey," he added.

GenM, however, did not disclose a specific date of the park's opening.

In the first quarter ended March 31, 2021 (1QFY21), GenM's net loss widened to RM483.59 million or 8.55 sen per share, from RM417.96 million or 7.39 per share in 1QFY20, due to the temporary closure of the group's businesses in Malaysia and the UK.

The group in its financial report said that it would continue to assess its operating structure to align its cost base to the challenging operating and business environment.

"While the group continues to work towards the completion of Genting SkyWorlds outdoor theme park in the third quarter of 2021, the opening date of the park is dependent on developments surrounding the Covid-19 situation and its impact on the leisure and hospitality sector in the country," it noted.

Prime Minister Tan Sri Muhyiddin Yassin in a Facebook post on Aug 8 said that he was confident that the target of fully vaccinating all adults or 80% of the country's population against Covid-19 by the end of October could be achieved.

Muhyiddin added that by Aug 31, more than 60% of the adults in the country or 40% of the population would be fully inoculated.

Yesterday (Aug 11), 268,846 received their second dose, raising the total number of people who are fully inoculated to 9.51 million people or 29.1% of the country's population, according to the latest updates on Twitter by the Special Committee for Ensuring Access to Covid-19 Vaccine Supply (JKJAV).

Eight states have transitioned to Phase Two of the National Recovery Plan — Perlis, Perak, Pahang, Kelantan, Terengganu, Penang, Sabah and Sarawak — with most expected to transition to Phase Four "as early as October", according to Muhyiddin.

At 3.19pm, GenM's share price dipped two sen or 0.72% to RM2.76, giving it a market capitalisation of RM16.39 billion.

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Opening of theme park by mid-2021, raises optimism of Genting group’s prospects

Lam Jian Wyn