KUALA LUMPUR, Feb 24 — Genting Bhd’s share price was traded lower this morning, hours after the release of its weak 2015 financial results.

At 10.10am, it fell nine sen to RM8.01 with 456,400 shares transacted.

Yesterday, the company in a filing to Bursa Malaysia announced that its pre-tax profit for the financial year ended in 2015 fell to RM3.45 billion from RM4.26 billion posted in 2014.

Revenue slipped to RM18.1 billion during the period under review from RM18.22 billion previously.

Revenue from Resorts World Sentosa (RWS) in the final quarter was higher, mainly due to the stronger Singapore dollar exchange rate to the Malaysian Ringgit compared with last year’s exchange rate.

Revenue in Singapore dollar terms was lower compared with the last quarter of 2014 as RWS continued to tighten its credit policies, which impacted gaming revenue.

Universal Studios Singapore, a major revenue contributor to RWS’s non-gaming segment, registered a strong performance with attendance hitting a record high of 1.2 million for the quarter, the highest recorded since opening.

Nevertheless, Hong Leong Investment Bank said it would continue to prefer Genting as the best exposure to the gaming sector.

“(Genting) benefits from the catalyst of various expansion plans from its subsidiaries, while having limited downside given its diversified business, stable and cash rich position,” the research house said in a note today. — Bernama