Genting Singapore, which owns and operates Resorts World Sentosa , one of two integrated resorts here, reported its FY2021 earnings this week.
The reason for the weak performance was due to a decrease in visitorship resulting from a rash of COVID-19 community cases amid the rise of the Omicron variant. The first phase of the development involves the expansion of Universal Studios Singapore and the SEA Aquarium, which will be rebranded as the Singapore Oceanarium. These are expected to be completed by end-2024.
This acquisition will more than double the REIT’s deposited property value from S$1.7 billion to S$3.6 billion. This transaction is projected to increase LREIT’s fiscal 2022 first half distribution per unit by 10.5% to S$0.0249. It also has the option to announce a non-renounceable preferential offer of units to existing unitholders.
Source: News Formal (newsformal.com)