August 13, 1998; Genting Berhad

August 13,1998

GENTING BERHAD
INTERIM ANNOUNCEMENT

THE DIRECTORS OF GENTING BERHAD ARE PLEASED TO ANNOUNCE THE UNAUDITED RESULTS OF THE
GROUP AND OF THE COMPANY FOR THE HALF-YEAR ENDED 30TH JUNE 1998, TOGETHER WITH THE COMPARATIVE RESULTS FOR THE HALF-YEAR ENDED 30TH JUNE 1997 AS FOLLOWS:

		GROUP SIX MONTHS ENDED 30TH JUNE		COMPANY SIX MONTHS ENDED 30TH JUNE		GROUP	COMPANY
		1998 RM mil	1997 RM mil	1998 RM mil	1997 RM mil	+ or - %	+ or - %
1.(a)	TURNOVER	1,897.3	1,390.0	136.6	220.8	+36	-38
(b)	INVESTMENT AND INTEREST INCOME	95.9	53.2	37.7	126.8	+80	-70
2.(a)	PROFIT BEFORE TAXATION AND MINORITY INTERESTS AND AFTER INTEREST ON BORROWINGS AND DEPRECIATION [see notes (i) and (ii) below]	552.0	563.6	134.2	214.9	-2	-38
(b)	SHARE OF RESULTS OF ASSOCIATED COMPANIES	45.6	41.1	-	-	+11	-
(c)	PROFIT BEFORE TAXATION	597.6	604.7	134.2	214.9	-1	-38
(d)	TAXATION	(204.6)	(174.2)	(37.2)	(57.2)	+17	-35
(e)(i)	PROFIT AFTER TAXATION BEFORE DEDUCTING MINORITY INTERESTS	393.0	430.5	97.0	157.7	-9	-38
(ii)	MINORITY INTERESTS	(109.1)	(138.5)	-	-	-21	-
(f)	PROFIT ATTRIBUTABLE TO MEMBERS OF THE COMPANY	283.9	292.0	97.0	157.7	-3	-38
Note: (i)	INTEREST ON BORROWINGS CHARGED AS AN EXPENSE	3.7	0.6	-	-	N/A	-
(ii)	DEPRECIATION INCLUDING AMORTISATION	107.5	83.8	0.7	0.7	+28	0

3.(a)

THE RESULTS OF THE GROUP AND OF THE COMPANY FOR THE HALF-YEAR ENDED 30TH JUNE 1998
HAVE NOT BEEN AFFECTED BY ANY MATERIAL FACTORS OR ITEMS OF AN EXTRAORDINARY NATURE OTHER THAN THE EXCEPTIONAL ITEMS SET OUT BELOW:

	GROUP
	1998 RM mil	1997 RM mil
GAIN ON SALE OF INVESTMENTS	111.2	13.4
WRITE-OFF OF GOODWILL ON ACQUISITION OF INVESTMENT IN AN ASSOCIATED COMPANY	(161.7)	-
	(50.5)	13.4

THE ABOVE WRITE-OFF OF GOODWILL ON ACQUISITION OF INVESTMENT IN AN ASSOCIATED COMPANY,
WHICH IS CONSISTENT WITH THE GROUP'S POLICY OF WRITING OFF GOODWILL IN THE YEAR OF
ACQUISITION, REPRESENTS 50% OF THE EXCESS OF THE PURCHASE CONSIDERATION PAID OVER
THE NET TANGIBLE ASSETS OF THE ASSOCIATED COMPANY ON THE DATE OF ACQUISITION. THE
BALANCE 50% OF THE GOODWILL WILL BE WRITTEN OFF IN THE SECOND HALF OF THIS YEAR.

(b)	IN THE OPINION OF THE DIRECTORS, NO SIGNIFICANT TREND OR EVENT HAS OCCURRED BETWEEN 30TH JUNE 1998 AND THE DATE OF THIS REPORT WHICH WOULD AFFECT SUBSTANTIALLY THE RESULTS OF THE GROUP AND OF THE COMPANY.

4.		GROUP
		1998	1997
	EARNINGS IN SEN PER ORDINARY SHARE FOR THE HALF-YEAR BASED ON 2(f)	40.3 sen	41.5sen

5.	TAXATION CHARGES FOR THE PERIOD INCLUDE DEFERRED TAX CHARGE OF RM24.4 MILLION (1997: RM9.0 MILLION) FOR THE GROUP AND DEFERRED TAX CREDIT OF RM1.7 MILLION (1997: RM1.3 MILLION) FOR THE COMPANY. THERE IS NO MATERIAL ADJUSTMENT FOR UNDER OR OVER PROVISION IN RESPECT OF PRIOR YEARS.
6.	THE RESULTS DO NOT INCLUDE ANY PRE-ACQUISITION PROFITS.
7.	THE RESULTS DO NOT INCLUDE ANY PROFIT OR LOSS ON SALE OF INVESTMENTS AND PROPERTIES WHICH ARE NOT IN THE ORDINARY COURSE OF BUSINESS OF THE GROUP AND OF THE COMPANY.
8.	SINCE THE PAYMENT OF THE FINAL DIVIDEND FOR THE YEAR ENDED 31ST DECEMBER 1997 TO THE DATE OF THIS REPORT, THE COMPANY DID NOT MAKE ANY RIGHTS, BONUS AND/OR OTHER ISSUES OF EQUITY SHARES.
9.	THE DIRECTORS ARE OF THE OPINION THAT THE RESULTS FOR THE SECOND HALF-YEAR ARE LIKELY TO BE AFFECTED BY THE CONTINUED POOR ECONOMIC CONDITIONS IN THE REGION.
10.	THE GROUP HAS SET UP A TASK-FORCE COMMITTEE TO ADDRESS THE Y2K ISSUES, BOTH FROM THE INFORMATION TECHNOLOGY AS WELL AS BUSINESS PERSPECTIVES. SEVERAL MAJOR PHASES OF THE PROJECT HAVE BEEN COMPLETED TO-DATE, INCLUDING THE AWARENESS PROGRAM, PRODUCTION OF COMPLETE INVENTORY, IMPACT ANALYSIS, BUDGETING AND THE SETTING UP OF TESTING FACILITIES. THE GROUP IS NOW AT THE LATER STAGE OF IMPLEMENTING PROGRAM MODIFICATIONS, SOFTWARE AND HARDWARE UPGRADES, REPLACEMENTS AND TESTING REQUIRED TO BE Y2K READY. THE CURRENT TOTAL COST OF THE Y2K PROJECT IS ESTIMATED TO BE RM5.0 MILLION FOR THE GROUP (RM1.0 MILLION FOR THE COMPANY). THESE AMOUNTS ARE NOT SIGNIFICANT AND THUS WILL NOT MATERIALLY IMPACT THE GROUP'S AND THE COMPANY'S FINANCIAL RESULTS.
11. (a)	AN INTERIM DIVIDEND OF 6.5 SEN LESS 28% INCOME TAX PER SHARE OF 50 SEN PAR VALUE EACH IN RESPECT OF THE SIX MONTHS ENDED 30TH JUNE 1998 HAS BEEN DECLARED BY THE DIRECTORS AND WILL BE PAYABLE ON THE 30TH OCTOBER 1998 TO SHAREHOLDERS REGISTERED IN THE REGISTER OF MEMBERS AT THE CLOSE OF BUSINESS ON 7TH OCTOBER 1998.
(b)	INTERIM DIVIDEND PER ORDINARY SHARE:
	1998 6.5 SEN LESS 28% TAX	1997 7.0 SEN LESS 30% TAX (NOW DEEMED AS 28%)

(c)	NET INTERIM DIVIDEND:
	1998 RM mil 33.0	1997 RM mil 34.5

(d)	CLOSURE OF BOOKS NOTICE IS HEREBY GIVEN THAT THE SHARE TRANSFER BOOKS AND REGISTER OF MEMBERS WILL BE CLOSED FROM 8TH OCTOBER 1998 TO 13TH OCTOBER 1998 BOTH DAYS INCLUSIVE, FOR THE PURPOSE OF DETERMINING SHAREHOLDERS' ENTITLEMENT TO THE INTERIM DIVIDEND. DULY COMPLETED REGISTRABLE TRANSFERS RECEIVED BY THE COMPANY'S SHARE REGISTRARS, GENTING MANAGEMENT AND CONSULTANCY SERVICES SDN. BHD, 23RD FLOOR, WISMA GENTING, JALAN SULTAN ISMAIL, 50250 KUALA LUMPUR, UP TO 5.00 PM ON 7TH OCTOBER 1998 WILL BE REGISTERED BEFORE ENTITLEMENTS TO THE DIVIDEND ARE DETERMINED. FURTHER NOTICE IS HEREBY GIVEN THAT THE MALAYSIAN CENTRAL DEPOSITORY SDN BHD SHALL NOT BE ACCEPTING ANY REQUEST FOR DEPOSIT AND/OR WITHDRAWAL OF SHARES COMMENCING 12.30 PM ON 5TH OCTOBER 1998 UNTIL 12.29 PM ON 7TH OCTOBER 1998. A DEPOSITOR SHALL QUALIFY FOR ENTITLEMENT TO THE INTERIM DIVIDEND ONLY IN RESPECT OF:
	i)	SHARES DEPOSITED INTO THE DEPOSITOR'S SECURITIES ACCOUNT BEFORE 12.30 PM ON 5TH OCTOBER 1998;
	ii)	SHARES NOT WITHDRAWN FROM THE DEPOSITOR'S SECURITIES ACCOUNT AS AT 12.29 PM ON 5TH OCTOBER 1998;
	iii)	SHARES TRANSFERRED INTO THE DEPOSITOR'S SECURITIES ACCOUNT BEFORE 12.30 PM ON 7TH OCTOBER 1998 IN RESPECT OF ORDINARY TRANSFERS;
	iv)	SHARES TRANSFERRED INTO THE DEPOSITOR'S SECURITIES ACCOUNT AT OR BEFORE 3.00 PM ON 7TH OCTOBER 1998 IN RESPECT OF EXPRESS TRANSFERS; AND
	v)	SHARES BOUGHT ON THE KUALA LUMPUR STOCK EXCHANGE ON A CUM ENTITLEMENT BASIS ACCORDING TO THE RULES OF THE KUALA LUMPUR STOCK EXCHANGE.