Genting Singapore has announced it will no longer be reporting its financial results on a quarterly basis, following changes to the listing rules of the Singapore Stock exchange, which took effect on February 7.
Instead, the company will now be releasing its results on a half-yearly basis, effective immediately. Meaning that the next financial results announcement is set to take place on June 30, 2020.
“The Board has, after due deliberations and taking into consideration the compliance costs, time and efforts required in connection with quarterly reporting, decided not to continue with quarterly reporting and will instead release the financial statements of the Company and the Group on a half-yearly basis.”
Genting said it will provide quarterly business updates on a voluntary basis for the first and third quarters of the company’s financial year.
“The Board believes that a half-yearly financial reporting cycle and the provision of voluntary quarterly business updates, together with the observation of strengthened disclosure requirements is sufficient to keep the shareholders informed of the Group’s state of affairs,” said the company.