Genting Group's net profit for the first quarter of fiscal year 2026 surged 20.97 times year-on-year to RM101.1 million from RM4.6 million, driven by improved performance in several subsidiaries and sectors [1, 2, 3, 4, 5]. Group revenue rose 2-2.4% to about RM6.66 billion during the same period ending March 31, 2026 [1, 2, 3].

However, Genting Malaysia Bhd (GENM), in which Genting Group holds a 73.8% stake, suffered a net loss of RM3.8 million, reversing from a RM72.7 million profit in the prior year quarter [1, 2, 3, 4, 5]. Its pre-tax profit fell 77% year-on-year to RM43.1 million. This decline primarily reflected increased operating and staffing costs tied to the full commercial opening of the casino at Resorts World New York City [1, 2, 3]. Despite a 10.5% revenue increase to RM2.87 billion, Genting Malaysia’s costs weighed on profitability [1, 2, 3].

Genting Plantations delivered an 11.11% rise in net profit to approximately RM68.1 million, with revenue remaining steady at around RM720 million [6, 7, 8]. The company noted a 13% drop in the average selling price of crude palm oil (CPO) to RM3,617 per tonne but saw fresh fruit bunches output rise by 5% to 457,000 tonnes, partly offsetting the price decline [6, 7, 8]. Genting Plantations said, “鉴于地缘政治局势持续紧张推升原油价格，公司预计棕油价格在短期内将保持稳健。” (Given ongoing geopolitical tensions driving crude oil prices higher, the company expects CPO prices to remain stable in the short term) [7].

The Group’s power business performed well, supported by increased revenue and earnings before interest, tax, depreciation, and amortisation (EBITDA) from the Indonesian Pandan power plant [1, 2, 3]. Conversely, the oil and gas segment experienced declines in revenue and EBITDA, largely due to lower crude oil prices and production cuts [1, 2, 3].

Following the earnings release, Genting’s shares initially closed down 0.4% at RM2.35 with a market capitalization of RM9.11 billion but subsequently rose 3.4% to RM2.43 [1, 4, 5]. Meanwhile, Genting Malaysia shares closed down 0.5% at RM1.98 with a market cap of RM11.8 billion and then fell further 2.0% to RM1.94 [1, 4, 5].

Genting Group highlighted ongoing challenges from the macroeconomic environment and geopolitical tensions and said its leisure and hospitality operations across Malaysia, Singapore, the UK, the US, and the Bahamas will continue to enhance assets, upgrade offerings, and focus marketing efforts to maintain visitor traffic and improve earnings [1].