Good Morning
Malaysia is on the up, at least according to Tradeview Capital Sdn Bhd CEO, Ng Zhu Hann, who believes the country’s tourism market is poised to excel this year compared to its ASEAN counterparts, driven by mutual visa-free entry with China and a historically low ringgit. Ng anticipates significant revenue growth, particularly for Resorts World Genting, as visa-free entry and increased Chinese tourist arrivals during the recent Lunar New Year are expected to boost performance. Meanwhile, it seems it is game over for the Tigre de Cristal sale, as its proposed russian buyer tries to terminate the purchase deal, while Genting Singapore got its profit and operating estimates cut by Maybank analysts.
What you need to know
- Malaysia’s tourism market is expected to outperform this year, given its advantages of a mutual visa-free policy and the historically low ringgit, says Tradeview Capital Sdn Bhd CEO.
- A Russian company that intended to purchase Tigre de Cristal Resort is looking to terminate the deal.
- Maybank decided to trim Genting Singapore profit and EBITDA estimates despite maintaining a ‘cautiously optimistic’ outlook.
On the radar
- South Korea and Thailand lead in visitor spending per capita in Macau.
- Mainland China individual traveller scheme to Macau and HK expanded.
- Almost 700 arrested in Myanmar border town police raid.
- PAGCOR calls return of major online gambling company “huge vote of confidence”.
AGB Intelligence
MALAYSIA
Malaysia tourism to outperform ASEAN in 2024
Tradeview Capital Sdn Bhd CEO Ng Zhu Hann believes Malaysia’s tourism market will outperform its ASEAN competitors in 2024. In an interview with AGB, Ng commented that thanks to mutual visa-free entry for Malaysia and China, along with the historically low ringgit, the country’s tourism market is expected to excel this year.
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