Genting Malaysia names Loh Wai Yee as new CFO
Genting Malaysia Berhad has announced the appointment of Loh Wai Yee as its new Chief Financial Officer (CFO), effective 1 April 2025. She succeeds Koh Poy Yong, who is retiring from the position.
Loh joined Genting Malaysia in June 2023 as Senior Vice President for Finance and was promoted to Deputy CFO of Resorts World Genting in August of the same year. In her new role, she will oversee the company’s finance, risk management, procurement, and regulatory compliance functions.
With over 30 years of experience in finance, strategy, investment management, risk management, and auditing, Loh has held leadership roles at Tenaga Nasional Berhad, Destination Resort and Hotel Sdn Bhd, and Penerbangan Malaysia Berhad. She also spent several years in the investment division of Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund.
Before entering the commercial sector, Loh trained as a chartered accountant in a public accounting firm in London, United Kingdom, before moving to PricewaterhouseCoopers in Kuala Lumpur, where she rose to the rank of senior manager.
Loh holds a Bachelor of Science (Honours) degree in Economics and Accounting from City University, United Kingdom. She is a member of the Institute of Chartered Accountants in England and Wales and the Malaysian Institute of Accountants.
Genting Malaysia’s Q4 figures
In February this year, Genting Berhad, which owns Las Vegas Strip property Resorts World Las Vegas and is the majority shareholder in Genting Singapore and Genting Malaysia, reported its fourth-quarter financial results. Genting Malaysia swung to a net loss of RM485.6 million ($108.8 million) for the period, a reversal from a profit of RM217.6 million in 4Q23.
The company experienced a drop in its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), falling by 17 percent year-on-year to RM621.5 million. Revenue for the period dropped by 7.8 percent to RM2.68 billion. This decline was primarily attributed to increased operating costs, including those associated with the company’s New York gaming license bid. Despite the reported loss, the company declared a final dividend of 4 sen per share – less than half the 9 sen per share declared a year earlier.
In Malaysia, the group’s leisure and hospitality operations reported a slight 1 percent decline in revenue, reaching RM1.17 billion. The adjusted EBITDA in this segment fell by 7 percent to RM490.4 million.
