Genting Q4 profit plunges on Singapore, expansion plans

    Genting said its fourth-quarter net profit fell 80 percent to 483.83 million ringgit ($147.96 million), as one-time gains from the sale of power plants last year weren’t repeated. Excluding those gains, Genting would have recorded a 7.4 percent decline in net profit. EBITDA fell because of a decline from its gaming operations in Singapore and due to the start-up of projects in the U.S.