Genting Malaysia active, up 1.33% on special dividend

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KUALA LUMPUR (Feb 28): Genting Malaysia Bhd rose 1.33% in active trade this morning after it announced a special dividend of eight sen per share respectively, on top of final dividend of five sen for FY17.

At 9.16am, Genting Malaysia rose 7 sen to RM5.34 with 4.31 million shares done.

Genting Malaysia’s net profit came in lower at RM449.39 million in 4QFY17, from RM1.69 billion a year ago, as it had previously recognised a RM1.27 billion gain from the disposal of its Hong Kong investment.

Conversely, quarterly revenue rose 11.44% to RM2.54 billion from RM2.28 billion a year ago due to higher contribution from its leisure and hospitality business in Malaysia and an increase in casino business revenue in the United Kingdom and Egypt.