Genting Singapore - OCBC Investment 2016-06-13: RWS said to be letting 400 staff go

Genting Singapore - OCBC Investment 2016-06-13: RWS said to be letting 400 staff go GENTING SINGAPORE PLC G13.SI 

Genting: RWS said to be letting 400 staff go

  • Genting Singapore (GS) was reported to have slashed about 400 jobs – mainly coupiers, supervisors and pit managers – under a down- sizing plan that started in May; this as it manages its headcount of 12k staff to meet its business needs. 
  • According to RWS, it has been working closely with the Ministry of Manpower (MOM) and the Attractions, Resorts & Entertainment Union (AREU) to ensure that fair terms are extended to all affected staff. 
  • GS did not reveal the cost of the exercise, but we believe this will likely to be reflected in the 2Q16 results. 
  • For now, we have a HOLD rating on the company with a S$0.72 fair value. 




Carey Wong CFA OCBC Securities | http://www.ocbcresearch.com/ 2016-06-13
OCBC Securities SGX Stock Analyst Report HOLD Maintain HOLD 0.72 Same 0.72


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