2014

GENTING BERHAD
ANNUAL REPORT 2014
F o r g i n g ah ead to w ar d s th e G en ti n g G r o u p s 50th y e a r a nd be y o nd
Genting Berhad (7916-A)

24th Floor, Wisma Genting
Jalan Sultan Ismail
50250 Kuala Lumpur, Malaysia
T : +603 2178 2288 / 2333 2288

F : +603 2161 5304
ANNUAL
www.genting.com GENTING BERHAD
(7916-A) REPORT
Genting Berhad (7916-A)
Jalan Sultan Ismail
50250 Kuala Lumpur, Malaysia
T : +603 2178 2288 / 2333 2288

F : +603 2161 5304
www.genting.com
Genting, the Genting logo and all Genting elements and related indicia & 2015 Genting International Management Limited. All rights reserved. Puss In Boots 2015 DreamWorks
Animation L.L.C. Battlestar Galactica Universal Studios. Universal Network Television LLC. All rights reserved. UNIVERSAL STUDIOS, UNIVERSAL STUDIOS SINGAPORE, Universal
Globe logo, and all Universal elements and related indicia TM & Universal Studios. All Rights Reserved. Resorts World, the Resorts World logo and all Resorts World elements and related
indicia TM & Genting International Management Limited. All rights reserved.
Those who view the world with vision Rising above
have the power to change it.
Forging ahead
Every instinct in the human being was made for

movement and moving forth. Here at Genting, we
took our instincts a step further by moving forward in
timeand going forth into the unknown. Even if we
had to overcome the seemingly impossible.
Genting Group stands on a mountain of hard-won

achievements. Yet even now, our journey is far from
over. For us, the road goes ever on and on. In everything
we do lies an enduring visionary spirit that keeps us as
young as when we first began.
Heres to 50 years of passion. And countless more years

of burning ambition. Heres to a future forged by the
strength to say Yes to the impossible.
Relive the Genting journey at www.genting50.com
WHAT DO YOU SEE? Celebrating Gentings 50th anniversary 2015

A whole year of thrills
and rewards awaits you!
2015 marks 50 years of excellence at Genting. Enjoy the best in food, entertainment, live music
and a host of attractions at Resorts World properties. Be part of the excitement as we forge ahead
to greater times. Check out the latest offers and attractions at www.resortsworld.com
We are a leading multinational corporation committed to
OUR VISION enhancing shareholder value and maintaining long-term
sustainable growth in our core businesses.
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OUR MISSION
We will:
Be responsive to the changing demands of our

customers and excel in providing quality products
and services.
Be committed to innovation and the adoption of

new technology to achieve competitive advantage.
Generate a fair return to our shareholders.
Pursue personnel policies which recognise and

reward performance and contributions of employees
and provide proper training, development and
opportunities for career advancement.
Be a responsible corporate citizen, committed to

enhancing corporate governance and transparency.
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CORPORATE
Genting Berhad is the holding company of the Genting Group
(www.genting.com), one of Asias leading and best-managed multinationals. The
Genting Group is led by Tan Sri Lim Kok Thay, a visionary entrepreneur who has
PROFILE established Resorts World branded properties in Malaysia, Singapore, the

Philippines, the United States, the Bahamas, the United Kingdom and soon in
South Korea, as well as spearheading global investments in oil palm plantations,
power generation, oil and gas, property development, cruise, biotechnology and
other industries.
The Genting Group and its affiliates comprise five public companies listed on the
stock exchanges of Malaysia, Singapore and Hong Kong - namely Genting
Berhad, Genting Malaysia Berhad (Genting Malaysia), Genting Plantations
Berhad (Genting Plantations), Genting Singapore PLC (Genting Singapore)
and Genting Hong Kong Limited. The five listed companies have a combined
market capitalisation of about RM110 billion (USD31 billion).
The Group and its affiliates employ more than 60,000 people worldwide and has
over 4,500 hectares of prime resort land and 246,000 hectares of plantation
land. Gentings premier leisure brands include Resorts World, Genting Club,
Crockfords and Maxims. In addition to Premium Outlets, Genting
companies have tie ups with Universal Studios, Hard Rock Hotel, Twentieth
Century Fox and other renowned international brand partners. Backed by 50
years of solid financials and strong management leadership, the Genting Group
is committed to grow in strength as a responsible global corporation.
CONTENTS
Chairmans Statement / Penyata Pengerusi / 2 Financial Statements:

Board of Directors 10 Income Statements 69
Directors Profile 12 Statements of Comprehensive Income 70
Management & Corporate Information 16 Statements of Financial Position 71
Group Corporate Structure 17 Statements of Changes in Equity 72
Corporate Diary 18 Statements of Cash Flows 75
Financial Highlights 19 Notes to the Financial Statements 78
Managements Discussion and Analysis of Business Statement on Directors Responsibility 164
Operations and Financial Performance 20 Statutory Declaration 164
Year in Review 22 Independent Auditors Report 165
Awards and Accolades 38 Five-Year Summary 166
Sustainability Report 39 List of Properties Held 167
Corporate Governance 51 Analysis of Shareholdings/Warrantholdings 172
Audit Committee Report 58 Notice of Annual General Meeting 176
Statement on Risk Management and Internal Control 61 Statement Accompanying Notice of
Directors Report and Statement by Directors 63 Annual General Meeting 180
Form of Proxy
Group Offices
Genting Premier Brands
CHAIRMANS STATEMENT
Dear Fellow Shareholders,
It gives me great pleasure to inform you

that the Genting Group is celebrating the
50th anniversary of its historic founding
this year. As we enter into a new era, we
will continue to grow and forge ahead into
the future. We aim to be a trendsetter
in the international integrated resorts
arena, whilst strengthening our Genting
and Resorts World brands globally.
On behalf of the Board of Directors, I am pleased to report that

Genting Berhad (the Company) and its group of companies
(the Group) have performed well despite the continued
uncertainty of the global economy, weak regional currencies,
adverse conditions in the Asian gaming industry and escalating
inflationary pressures. In 2014, the Group recorded revenue of
RM18.2 billion (2013: RM17.1 billion) while adjusted earnings
before interest, tax, depreciation and amortisation was RM6.6
billion (2013: RM6.1 billion) from continuing operations.
We will continue to work diligently to fortify Gentings

businesses worldwide, especially the Resorts World properties
in Malaysia, Singapore and other countries in the world. Resorts
World Genting and Resorts World Sentosa have transformed the
tourism landscape in their respective countries while creating
thousands of jobs and attracting millions of visitors every year.
Resorts World Sentosa, the first integrated resort to operate

in Singapore, is celebrating its 5th anniversary this year. I
am pleased to inform that the resort has been voted Best
Integrated Resort for four consecutive years at the Travel
Trade Gazette Travel Awards, which recognises the best travel
industry players in Asia Pacific. Universal Studios Singapore
launched a new ride attraction, Puss In Boots Giant Journey
in April 2015 and will soon re-launch Battlestar Galactica,
a thrilling dueling roller coaster. Genting Hotel Jurong, the
seventh hotel property of Resorts World Sentosa was opened
on 30 April 2015. This 550-room hotel located in Jurong, is
part of our business strategy to drive more visitors to Resorts
World Sentosa.
2 GENTING BERHAD Annual Report 2014

CHAIRMANS STATEMENT (contd)
Genting Malaysia has embarked on a massive project to I am pleased to report that Resorts World Las Vegas broke
transform Resorts World Genting under the Genting Integrated ground on 5 May 2015. The resort is expected to open its
Tourism Plan (GITP). GITP is expected to complete in doors in mid-2018. This new Chinese-themed resort will
phases from 2016 onwards. include three hotels with 3,500 total rooms, a world-class
casino, numerous dining and retail outlets, a top tier nightlife
The development of GITP was showcased in December 2014 venue and extensive entertainment options to cater to both
via Horizon 50, an immersive visual experience that presents high-end visitors and budget-minded tourists. We will give
a glimpse of the fascinating journey of Resorts World Genting first-time guests a new reason to visit Las Vegas and other
and its many new attractions to come. Visitors can discover tourists a good reason to return.
something new each time they visit Horizon 50, in line with
the constant developments of the Group. The showcase event In South Korea, Genting Singapores joint venture project,
also introduced Tan Sri Michelle Yeoh, a world-renowned Resorts World Jeju broke ground on 12 February 2015. The
actress appointed as the resorts new brand ambassador and resort is expected to open in 2017 and will include a world-
Sky Avenue, the upcoming lifestyle mall in Resorts World class theme park, meetings & conventions facilities, sizeable
Genting. retail space, gaming and entertainment facilities as well as
luxury hotels. It is highly anticipated to be a magnet for the
In the United Kingdom (UK), we will focus on implementing regional tourist market. We are also closely monitoring the
innovative strategies to grow our business and gain domestic potential opportunities and the legislative developments in
market share. We are excited with the upcoming opening of Japan.
Resorts World Birmingham, UKs first integrated resort, in
the second half of 2015. Additionally, we had taken over In Indonesia, Genting Energy is constructing the 660MW
the sponsorship rights of the second largest concert arena coal-fired power plant in Banten, Java which is progressing
in the UK since January 2015 and it has now been renamed well and targeted to complete in early 2017.
Genting Arena.
Genting Energys two exploration wells (Kido-1X and Asap-
In the United States (US), I am pleased to inform that 4X) in the Kasuri Production Sharing Contract, Indonesia
Resorts World Casino New York City, in its third year of have both been proven to contain oil and gas reserves. Both
operations, has remained the largest grossing video gaming wells are also the first discoveries of oil in the Bintuni Basin
machine facility by gaming revenue in the Northeast United in Indonesia. We have commenced the drilling of two new
States. The Group continued to capitalise on its strategic exploration wells and two new seismic surveys in 2014 to
position as the only gaming operator in New York City, further explore and develop our findings.
intensifying the marketing efforts and doubling the highly
successful Red Express bus services to improve accessibility In China, we are developing a new 2 x 1,000MW ultra-
to the resort. supercritical coal-fired power plant in Putian, which is
expected to complete in the second half of 2016 and will
We remain steadfast on our vision to realise the development add another 980MW of net attributable capacity to Genting
of Resorts World Miami as a destination resort and will Powers asset portfolio.
continue to engage with all relevant stakeholders.
We acquired a 57% working interest in the Petroleum Contract
We can expect more visitors to Resorts World Bimini in the for the petroleum exploration, development and production
Bahamas following the opening of the first phase of its new activities in Chengdaoxi Block from Energy Development
port in September 2014, along with the targeted opening of Corporation (China) Inc in July 2014. Our partner is China
the new 300-room luxury marina hotel in the second half of Petrochemical Corporation (Sinopec Group). Located in
2015. In addition, Resorts World Bimini expanded its cruise the shallow waters of Bohai Bay, the Chengdaoxi Block has
services to complement the existing roundtrip cruises from consistently produced more than 8,000 barrels of oil per day.
Port Miami to Bimini. These initiatives show the Groups We will continue efforts to increase oil production from its
commitment to position the Bimini island as a world-class operations and to manage the impact of reduced revenue due
tourist destination. to the sharp decline in global oil prices.
GENTING BERHAD Annual Report 2014 3

CHAIRMANS STATEMENT (contd)
Genting Plantations posted solid financial results despite Looking ahead, we are cautiously optimistic, in line with the
the volatile palm oil prices experienced in 2014. The gradual recovery of global economies although the outlook
good performance was mainly attributable to higher crop for certain markets remains challenging. The tight labour
production, good cost controls and enhanced operational market, inflationary cost pressures and volatile foreign
efficiencies. Total fresh fruit bunches production grew for the currency exchange rates continue to be key areas that we will
fifth consecutive year to reach 1.66 million metric tonnes in actively monitor and manage to mitigate any adverse impact
2014, underpinned by an increase in output in Indonesia, on our global businesses.
with planted areas coming into maturity and more mature
areas progressing into higher yielding brackets. The Genting Group has over 60,000 employees worldwide
with a diverse pool of talent and skills. Our new resort
Commendable firsts achieved by Genting Plantations in projects will create more new jobs and further stimulate the
2014 include the newly completed Genting Jambongan oil local economies.
mill in Sabah becoming the first zero waste discharge oil
mill in Malaysia, the establishment by ACGT Sdn Bhd of We continue to receive good endorsement for our community
Malaysias first and only high-throughput marker genotyping works and CSR practices. I am proud to inform that many
pipeline and the set-up of Malaysias first ever metathesis of our employees volunteer in community-based projects,
biorefinery for the production of high-performance renewable despite their busy schedule. More of Gentings sustainability
olefins and specialty chemicals. efforts are detailed in pages 39 to 50.
The Biotechnology Division recognised its maiden revenue As we celebrate the 50th anniversary of the founding of the
in 2014, derived from the provision of planting material Genting Group and Resorts World Genting as well as the 5th
marker-related services, while the downstream manufacturing anniversary of Resorts World Sentosa, I encourage you to take
operations posted good revenue growth following a pick-up in the opportunity to check out and enjoy the special offers and
biodiesel sales. promotions at our Resorts World properties, throughout the
year.
Genting Plantations acquired SPC Biodiesel Sdn Bhd (which
owns a 100,000 metric tonnes per annum-capacity biodiesel On behalf of the Board of Directors, I would like to thank
plant in Palm Oil Industrial Cluster, Sabah, Malaysia) for you, our shareholders for your loyal support and confidence
RM33 million in February 2014. in the Group. My appreciation is extended to the governing
authorities, the regulators, our customers, suppliers and
Genting Plantations announced a 75:25 collaboration with business partners for your support and cooperation. My
US-based Elevance Renewable Sciences Inc to establish gratitude is also extended to our management and employees,
Malaysias first metathesis biorefinery to produce renewable for their dedicated work and professionalism to ensure the
high-performance olefins and specialty chemicals that can success of the Group.
be used in multiple end-product applications. The biorefinery
will be set-up through the retrofitting of Genting Plantations I would also like to thank my fellow directors for their
biodiesel plant and is scheduled to complete by 2017. invaluable contribution, time and strategic counsel
throughout the year.
Genting Property recorded an outstanding year. Total sales
reached a new high in 2014, boosted by higher land sales May we all continue to work together and forge ahead to
and sustained demand for property offerings at the two achieve greater growth and success for Genting.
townships in Johor, Malaysia.
Thank you.
We have consistently paid dividends while allocating
funds for investment and business growth. Our Companys
USD300 million 10-year notes were fully redeemed in cash
upon maturity on 22 September 2014.
TAN SRI LIM KOK THAY

Chairman and Chief Executive
8 May 2015

PENYATA PENGERUSI
Para Pemegang Saham,
Dengan sukacitanya dimaklumkan pada tahun ini, Genting Malaysia telah memulakan projek yang besar untuk
Kumpulan Genting sedang menyambut ulang tahun ke- mentransformasikan Resorts World Genting di bawah Pelan
50 sejak penubuhannya. Dalam era baru ini, kami akan Pelancongan Bersepadu Genting (GITP). GITP dijangka
terus berkembang dan mara ke hadapan. Kami menyasar siap secara berperingkat dari tahun 2016.
untuk menerajui trend terkini dalam arena resort bersepadu
antarabangsa, di samping mengukuh jenama-jenama Genting Pembangunan GITP telah diperkenalkan pada Disember
dan Resorts World di peringkat sedunia. 2014 melalui Horizon 50 yang memberi satu pengalaman
visual yang canggih, memaparkan pengembaraan Resorts
Bagi pihak Lembaga Pengarah, saya dengan sukacita World Genting yang menakjubkan serta pelbagai daya tarikan
melaporkan bahawa Genting Berhad (Syarikat) dan baru yang akan datang. Para pengunjung boleh menemui
Kumpulan Syarikat-syarikatnya (Kumpulan) telah sesuatu yang baru setiap kali mereka melawati Horizon 50,
menunjukkan prestasi yang baik walaupun menghadapi sejajar dengan perkembangan-perkembangan Kumpulan
ketidakpastian ekonomi sedunia yang masih berterusan, yang terkini. Pameran ini juga telah memperkenalkan Tan
mata wang serantau yang lemah, keadaan industri kasino Sri Michelle Yeoh, pelakon antarabangsa yang telah dilantik
di Asia yang masih sukar dan tekanan inflasi yang semakin sebagai duta resort yang baru dan Sky Avenue, satu pusat
meningkat. beli-belah gaya hidup yang akan datang di Resorts World
Genting.
Pada tahun 2014, Kumpulan telah mencatatkan hasil
perolehan sebanyak RM18.2 bilion (2013: RM17.1 bilion) Di United Kingdom (UK), kami akan memberi tumpuan
manakala pendapatan diselaraskan sebelum faedah, cukai, untuk melaksanakan strategi-strategi inovatif bagi
susut nilai dan pelunasan adalah RM6.6 bilion (2013: mengembangkan perniagaan kami dan memperolehi bahagian
RM6.1 bilion) daripada operasi-operasi berterusan. pasaran tempatan. Kami amat teruja dengan Resorts World
Birmingham, iaitu resort integrasi yang pertama di UK yang
Kami akan tekun berusaha untuk memantapkan perniagaan- dijangka akan dibuka pada pertengahan kedua 2015. Kami
perniagaan Genting di serata dunia, terutamanya hartanah- juga telah mengambil alih hak penajaan arena konsert yang
hartanah Resorts World di Malaysia, Singapura dan sekitar kedua terbesar di UK semenjak Januari 2015 dan arena
negara lain di seluruh dunia. Resorts World Genting dan tersebut kini dikenali sebagai Genting Arena.
Resorts World Sentosa telah mengubah industri pelancongan
di negara mereka masing-masing, di samping mewujudkan Di Amerika Syarikat (US), sukacita dimaklumkan bahawa
ribuan peluang pekerjaan dan dikunjungi jutaan para pelawat Resorts World Casino New York City dalam tahun ketiga
setiap tahun. ia beroperasi, telah kekal menempatkan kedudukannya
sebagai pusat kemudahan mesin kasino video dengan
Resorts World Sentosa, resort integrasi yang pertama perolehan kasino yang tertinggi di bahagian timur laut
beroperasi di Singapura, sedang menyambut ulang tahunnya Amerika Syarikat. Dengan lokasinya yang strategik sebagai
yang ke-5 pada tahun ini. Dengan sukacitanya dimaklumkan satu-satunya pengendali kasino di Bandaraya New York,
bahawa Resorts World Sentosa telah dipilih sebagai Resort Kumpulan kami dapat menambahkan usaha pemasarannya
Integrasi Terbaik bagi kali keempat berturut-turut di dan menggandakan perkhidmatan bas Red Express yang
Anugerah Tahunan Travel Trade Gazette, yang mengiktiraf amat berjaya untuk meningkatkan akses ke resort.
peserta-peserta industri pelancongan yang terbaik di Asia
Pasifik. Universal Studios Singapore telah melancarkan Puss Kami berpegang teguh untuk menjadikan visi resort destinasi
In Boots Giant Journey mainan temanya yang terbaru pada di Resorts World Miami sebagai kenyataan dan akan terus
April 2015 dan akan melancar semula Battlestar Galactica, melibatkan semua pihak berkepentingan yang relevan.
satu roller coaster dua landasan yang menarik. Genting Hotel
Jurong, yang merupakan hartanah Resorts World Sentosa Kami jangka kunjungan ke Resorts World Bimini di Bahamas
yang ketujuh, telah dibuka pada 30 April 2015. Hotel ini akan meningkat berikutan pembukaan fasa pertama
dengan 550 buah bilik adalah salah satu strategi perniagaan pelabuhan barunya pada September 2014, bersama dengan
kami untuk menarik lebih ramai pengunjung ke Resorts pembukaan hotel marina mewah baru dengan 300 buah bilik,
World Sentosa. yang disasarkan pada separuh kedua 2015. Malah, Resorts
World Bimini telah menambah lagi perkhidmatan pelayaran
dari Pelabuhan Miami ke Bimini untuk melengkapkan
perkhidmatan pelayaran ulangalik yang sedia ada. Inisiatif
ini menunjukkan komitmen Kumpulan untuk memaparkan
pulau Bimini ini sebagai destinasi pelancongan bertaraf
dunia.

PENYATA PENGERUSI (sambungan)
Dengan sukacita dilaporkan bahawa upacara pecah tanah daripada 8,000 tong minyak sehari secara konsisten. Kami
Resorts World Las Vegas telah dilaksanakan pada 5 Mei akan terus berusaha untuk menambahkan pengeluaran
2015. Resort ini dijangka akan dibuka pada pertengahan minyak daripada pengendaliannya dan juga menguruskan
tahun 2018. Resort baru yang bertema budaya Cina ini akan kesan akibat pengurangan hasil dari kejatuhan harga minyak
merangkumi tiga hotel dengan 3,500 jumlah bilik, sebuah global yang mendadak.
kasino yang bertaraf dunia, pelbagai kedai-kedai makanan
dan beli-belah, tempat hiburan malam yang bertaraf tertinggi Genting Plantations mencatatkan keputusan kewangan yang
dan pelbagai pilihan hiburan untuk menarik minat para mantap meskipun harga minyak sawit yang tidak menentu
pengunjung golongan mewah dan para pelancong golongan pada tahun 2014. Prestasi yang baik telah didorong oleh
bajet. Kami berhasrat untuk menarik minat para pengunjung pengeluaran tanaman yang lebih tinggi, pengawalan kos
yang belum pernah melawat Las Vegas dan memberi satu yang baik dan peningkatan dalam kecekapan pengendalian.
alasan yang baik kepada mereka yang sudah melawat untuk Jumlah pengeluaran buah tandan segar meningkat untuk
kembali. tahun kelima berturut-turut untuk mencapai jumlah sebanyak
1.66 juta tan metrik pada tahun 2014. Ini disebabkan
Di Korea Selatan, projek usahasama Genting Singapore iaitu peningkatan pengeluaran di Indonesia, di mana kawasan
Resort World Jeju telah mengadakan upacara pecah tanah tanaman kini mula matang dan kawasan tanaman yang lebih
pada 12 Februari 2015. Resort ini dijangka akan dibuka matang telah memberikan hasil yang lebih tinggi.
pada tahun 2017 dan akan merangkumi sebuah taman
tema bertaraf dunia, kemudahan-kemudahan mesyuarat dan Pencapaian-pencapaian ulung yang dicapai oleh Genting
konvensyen, kawasan membeli-belah yang luas, kemudahan Plantations pada tahun 2014 termasuk kilang minyak
kasino dan hiburan serta hotel-hotel mewah. Ia dijangka Genting Jambongan yang baru disiapkan di Sabah
menjadi daya tarikan bagi pasaran pelancong serantau. Kami yang menjadi kilang minyak sawit pertama di Malaysia
juga akan memantau peluang potensi dan perkembangan yang dilengkapi dengan teknologi pelepasan sisa sifar,
perundangan di Jepun. perkhidmatan penyaringan tumbuhan berbantukan penanda
yang mempunyai daya pemprosesan tinggi yang pertama dan
Di Indonesia, Genting Energy sedang membina loji janakuasa satu-satunya di negara ini yang ditubuhkan oleh ACGT Sdn
arang batu 660MW di Banten, Jawa. Pembinaan ini sedang Bhd, dan penubuhan loji penapis bio metatesis yang pertama
berjalan lancar dan dijangka siap menjelang awal tahun di Malaysia untuk pengeluaran olefin dan bahan kimia khusus
2017. boleh diperbaharui yang berprestasi tinggi.
Dua buah telaga eksplorasi Genting Energy (Kido-1X dan Bahagian Bioteknologi telah merekodkan hasil perolehan
Asap-4X) di bawah Konsesi Kontrak Perkongsian Pengeluaran yang sulungnya di 2014, yang diperolehi dari pembekalan
Kasuri (Kasuri Production Sharing Contract), Indonesia telah perkhidmatan penyaringan bahan tanaman berbantukan
terbukti mengandungi rizab minyak dan gas. Kedua-dua penanda, manakala operasi pembuatan hiliran mencatatkan
telaga ini juga merupakan penemuan minyak yang pertama pertumbuhan perolehan yang ketara hasil daripada jualan
di Bintuni Basin di Indonesia. Pada tahun 2014, kami telah biodiesel yang semakin meningkat.
memulakan kerja-kerja penggerudian di kedua-dua telaga
eksplorasi baru ini dan dua kaji selidik seismos baru untuk Genting Plantations telah menyempurnakan pemerolehan SPC
meneliti dan mendalami lagi penemuan kami. Biodiesel Sdn Bhd (yang memiliki loji biodiesel berkapasiti
100,000 tan metrik setahun di Kluster Perindustrian Minyak
Di China, kami sedang membina sebuah loji janakuasa arang Sawit di Sabah, Malaysia) untuk RM33 juta pada Februari
batu tahap kritikal tertinggi 2 x 1,000MW di Putian, yang 2014.
dijangka siap pada pertengahan kedua tahun 2016 dan akan
menambah sebanyak 980MW jumlah kapasiti bersih kepada Genting Plantations telah mengumumkan satu kerjasama
aset portfolio Genting Power. 75:25 dengan Elevance Renewable Sciences Inc yang
berpusat di Amerika Syarikat pada Julai 2014, untuk
Kami telah memperolehi kepentingan aktif sebanyak menubuhkan loji penapis bio metatesis yang pertama
57% dalam Kontrak Petroleum dari Energy Development di Malaysia bagi menghasilkan olefins berprestasi tinggi
Corporation (China) Inc pada Julai 2014 untuk eksplorasi dan boleh diperbaharui dan bahan kimia khusus yang
petroleum, pembangunan dan pengeluaran di kawasan blok boleh digunakan dalam pelbagai kegunaan produk
Chendaoxi. Rakan kerjasama kami ialah China Petrochemical akhir. Loji penapis bio tersebut akan ditubuhkan untuk
Corporation (Sinopec Group). Blok Chengdaoxi yang terletak mempertingkatkan taraf loji biodiesel Genting Plantations
di perairan cetek Teluk Bohai, telah menghasilkan lebih dan dijadual siap menjelang tahun 2017.

PENYATA PENGERUSI (sambungan)
Genting Property telah mencatatkan rekod tahun yang Bagi pihak ahli Lembaga Pengarah, saya ingin merakamkan
cemerlang. Jumlah hasil jualan telah mencecah tahap ucapan terimakasih kepada anda, para pemegang saham
tertinggi baru pada 2014, dirangsang oleh jualan tanah yang kami, ke atas sokongan dan keyakinan anda terhadap
lebih tinggi dan permintaan yang berterusan bagi penawaran Genting. Saya juga ingin merakamkan penghargaan saya
hartanah di dua perbandaran di Johor, Malaysia. kepada kerajaan, badan pengawal selia, pelanggan-
pelanggan kami, pembekal-pembekal dan rakan-rakan kongsi
Kami telah membayar dividen-dividen secara konsisten sambil perniagaan ke atas sokongan and kerjasama anda. Ucapan
memperuntukkan dana untuk pelaburan dan perkembangan terimakasih juga kepada pihak pengurusan dan para pekerja
perniagaan. Nota 10-tahun kepunyaan syarikat yang bernilai kami atas kerajinan and komitment kerja yang profesional
USD300 juta telah ditebus sepenuhnya secara tunai ketika untuk memastikan kejayaan demi Kumpulan kami.
matang pada 22 September 2014.
Saya juga ingin merakamkan penghargaan kepada rakan-
Demi masa yang akan datang, kami kekal optimistik dan rakan pengarah atas sumbangan mereka yang amat tinggi
berhati-hati, selaras dengan pemulihan ekonomi global nilainya, masa dan nasihat strategik di sepanjang tahun ini.
yang perlahan walaupun keadaan beberapa pasaran tertentu
kelihatan masih mencabar. Pasaran buruh yang ketat, Semoga kita sentiasa berkerjasama dan maju ke hadapan
tekanan kos inflasi dan ketidaktentuan kadar pertukaran agar mencapai prestasi yang lebih unggul untuk Genting.
mata wang asing adalah antara faktor-faktor utama yang
akan kami sentiasa teliti dan uruskan dengan aktif untuk Terima kasih.
mengurangkan sebarang impak negatif terhadap perniagaan-
perniagaan global kami.
Kumpulan Genting mempunyai lebih 60,000 kakitangan di

seluruh dunia dengan pelbagai bakat dan kemahiran. Projek-
projek resort kami yang baru akan mencipta peluang-peluang TAN SRI LIM KOK THAY
pekerjaan dan seterusnya merangsang ekonomi tempatan. Pengerusi dan Ketua Eksekutif
8 Mei 2015
Amalan-amalan CSR dan projek-projek komuniti kami
disambut baik oleh masyarakat. Saya bangga memaklumkan
bahawa ramai di antara kakitangan kami melibatkan diri
mereka dengan pelbagai projek komuniti meskipun kerja
jadual mereka ketat. Butiran lanjut berkenaan usaha
kemampanan kumpulan Genting dihuraikan di muka surat
39 hingga 50.
Menjelang sambutan ulangtahun penubuhan Kumpulan

Genting dan Resorts World Genting yang ke-50 serta
sambutan ulangtahun penubuhan Resorts World Sentosa
yang ke-5, saya menggalakkan anda untuk mengunjungi dan
menikmati pelbagai tawaran menarik dan promosi-promosi
di hartanah-hartanah Resorts World kami di sepanjang tahun
ini.

50

(
)()

2014182(2013:171) 20149300
66(2013:61) 2015

20155
52018
--5 3,5003
Travel
Trade Gazette
20154
--
2015430 20152
550 122017

2016
660
2017
201412
Horizon 50 Kasuri
Horizon 50 (Kido-1XAsap-4X)
Horizon 50 2014

Sky Avenue
2x1000
2015 2016
980
20151

2014757%
3102014
922
(Sinopec Group)
8

2014
6
2014
5166

3950
2 0 1 4
Genting Jambongan Oil Mill 505
ACGT

2014

2014233
10
SPC Biodiesel
75:25
(Elevance Renewable Sciences Inc)
2017

2014
201558

BOARD OF DIRECTORS
TAN SRI DR. LIN SEE YAN DATO DR. R. MR LIM KEONG HUI TAN SRI LIM KOK THAY
Independent THILLAINATHAN Executive Director- Chairman and Chief Executive
Non-Executive Director Independent Chairmans Office &
Non-Executive Director Chief Information Officer/
Non-Independent
Executive Director
AUDIT COMMITTEE NOMINATION COMMITTEE
TAN SRI DR. LIN SEE YAN TAN SRI DR. LIN SEE YAN
Chairman/Independent Non-Executive Director Chairman/Independent Non-Executive Director
DATO PADUKA NIK HASHIM DATO PADUKA NIK HASHIM

BIN NIK YUSOFF BIN NIK YUSOFF
Member/Independent Non-Executive Director Member/Independent Non-Executive Director
DATUK CHIN KWAI YOONG

Member/Independent Non-Executive Director

TUN MOHAMMED HANIF DATO PADUKA NIK HASHIM DATUK CHIN KWAI YOONG
BIN OMAR BIN NIK YUSOFF Independent
Deputy Chairman/ Independent Non-Executive Director
Non-Independent Executive Director Non-Executive Director
REMUNERATION COMMITTEE
DATUK CHIN KWAI YOONG TAN SRI DR. LIN SEE YAN
Chairman/Independent Non-Executive Director Member/Independent Non-Executive Director
DATO PADUKA NIK HASHIM TAN SRI LIM KOK THAY

BIN NIK YUSOFF Member/Chairman and Chief Executive
Member/Independent Non-Executive Director

DIRECTORS PROFILE
TAN SRI LIM KOK THAY

Chairman and Chief Executive
Tan Sri Lim Kok Thay (Malaysian, aged 63), appointed on 17 The Singapore Exchange Securities Trading Limited. He is
August 1976, was redesignated as the Chairman and Chief also a Director of Travellers International Hotel Group, Inc.
Executive on 1 July 2007. He is also the Chairman and Chief (Travellers), a company listed on the Main Board of The
Executive of Genting Malaysia Berhad, the Chief Executive Philippine Stock Exchange, Inc. Travellers is an associate of
and a Director of Genting Plantations Berhad; and the Execu- GENHK. He has an interest in the securities of GENHK. The
tive Chairman of Genting Singapore PLC and Genting UK Plc. GENHK group is principally engaged in the business of cruise
He has served in various positions within the Group since and cruise-related operations and leisure, entertainment and
1976. He is a Founding Member and a Permanent Trustee of hospitality activities.
The Community Chest, Malaysia. In addition, he sits on the
Boards of other Malaysian and foreign companies as well as In the context of the above businesses of GENHK, Tan Sri Lim
the Boards of Trustees of several charitable organisations in is therefore considered as having interests in business apart
Malaysia. from the Groups business, which may compete indirectly
with the Groups business.
Tan Sri Lim holds a Bachelor of Science in Civil Engineering
from the University of London. He attended the Programme For his leadership excellence and significant contributions
for Management Development of Harvard Business School, to the leisure and travel industry, he was named the Travel
Harvard University in 1979. He is a Visiting Professor in Entrepreneur of the Year 2009 by Travel Trade Gazette (TTG)
the Department of Electrical and Electronic Engineering, Asia, The Most Influential Person in Asian Gaming 2009 by
Imperial College London and an Honorary Professor of Xiamen Inside Asian Gaming and Asian Leader for Global Leisure and
University, China. Entertainment Tourism 2011 by Seagull Philippines Inc.
and Lifetime Achievement Award for Corporate Philanthropy
Tan Sri Lim is the Chairman and Chief Executive Officer of 2013 by World Chinese Economic Forum.
Genting Hong Kong Limited (GENHK), a company primary
listed on the Main Board of The Stock Exchange of Hong
Kong Limited and secondary listed on the Main Board of

DIRECTORS PROFILE (contd)
TUN MOHAMMED HANIF BIN OMAR MR LIM KEONG HUI

Deputy Chairman/Non-Independent Executive Director Executive Director - Chairmans Office & Chief Information Officer/
Non-Independent Executive Director
Tun Mohammed Hanif bin Omar (Malaysian, aged 76), ap- Mr Lim Keong Hui (Malaysian, aged 30), was appointed as a Non-
pointed on 23 February 1994, is the Deputy Chairman. He Independent Non-Executive Director on 15 June 2012 and was
was the Inspector-General of The Royal Malaysian Police for redesignated as a Non-Independent Executive Director, following
20 years before retiring in January 1994, having joined as his appointment as the Senior Vice President (SVP) Business
Development of the Company on 1 March 2013. Subsequently,
an officer in 1959. He holds a Bachelor of Arts from the
he was redesignated as the Executive Director Chairmans
University of Malaya, Singapore, Bachelor of Law (Honours)
Office on 1 June 2013 and assumed additional role as the Chief
from University of Buckingham and the Certificate of Legal
Information Officer (CIO) of the Company on 1 January 2015.
Practice (Honours) from the Legal Qualifying Board.
Mr Lim holds a Bachelor of Science (Honours) Degree in
He is also the Deputy Chairman of Genting Malaysia Berhad Computer Science from the Queen Mary University of London,
and sits on the Boards of AMMB Holdings Berhad and AMFB United Kingdom and a Masters Degree in International Marketing
Holdings Berhad. Management from Regents Business School, United Kingdom.
He has received honorary awards from Malaysia, Indonesia, Mr Lim Keong Hui is a son of Tan Sri Lim Kok Thay, who is the
Thailand, Singapore, Brunei and the Philippines for his Chairman and Chief Executive of the Company. He was a Non-
Independent Non-Executive Director of Genting Malaysia Berhad
invaluable contribution towards the regions security. In
(GENM) and Genting Plantations Berhad (GENP) until he
1993, he became the only serving public servant to be
was redesignated as a Non-Independent Executive Director,
awarded non-ex-officio Malaysias highest non-royal award
following his appointment as the CIO of GENM and GENP on 1
which carries the titleship of Tun. He was conferred the January 2015. He is also a member of the Board of Trustees of
Honorary Doctorate of Law by Universiti Kebangsaan Malaysia Yayasan Lim Goh Tong.
in 1992, Honorary Doctorate of Philosophy (Internal Security)
by Universiti Pertahanan Nasional Malaysia on 2 October Prior to his appointment as the SVP Business Development of
2011 and Honorary Doctorate of Law by the University of the Company, he was the SVP Business Development of Genting
Buckingham on 16 March 2012. Hong Kong Limited (GENHK) until he was redesignated as
the Executive Director Chairmans Office of GENHK following
Tun Mohammed Hanif was a member of the 2004 Royal his appointment as an Executive Director of GENHK on 7 June
2013. He is currently the Executive Director Chairmans Office
Commission for the Enhancement of the Operations and
and CIO of GENHK after taking up additional role of CIO of
Management of The Royal Malaysian Police. He is the
GENHK on 1 December 2014. Prior to joining GENHK in 2009,
President of the Malaysian Institute of Management (MIM)
he had embarked on an investment banking career with The
and Malaysian Branch of the Royal Asiatic Society (MBRAS), Hongkong and Shanghai Banking Corporation Limited. He has
member of the Malaysian Equine Council and a Council deemed interest in the shares of GENHK. The GENHK group is
Member of the Malaysian Crime Prevention Foundation. In principally engaged in the business of cruise and cruise-related
addition, he is the Chairman of the Yayasan Tun Razak and operations and leisure, entertainment and hospitality activities.
a member of the Boards of Trustees of the Malaysian Liver
Foundation, Yayasan DayaDiri, The MCKK Foundation and In the context of the above businesses of GENHK, Mr Lim is
The Community Chest, Malaysia. therefore considered as having interests in business apart from
the Groups business, which may compete indirectly with the
Groups business.

DATO DR. R. THILLAINATHAN DATO PADUKA NIK HASHIM BIN NIK YUSOFF
Independent Non-Executive Director Independent Non-Executive Director
Dato Dr. R. Thillainathan (Malaysian, aged 70), appointed Dato Paduka Nik Hashim bin Nik Yusoff (Malaysian, aged
on 15 January 2003, was redesignated as an Independent 77), appointed on 8 June 1979, is an Independent Non-
Non-Executive Director on 30 July 2009. He was the Chief Executive Director. He holds a Bachelor of Arts (Honours)
Operating Officer of the Company from 27 November 2002 from Melbourne University and a Masters Degree in Public
to 9 September 2006 and retired as an Executive Director on Administration from Harvard University, USA.
30 July 2007.
He has been in the banking industry for more than 30 years. He
He holds a Class 1 Honours in Bachelor of Arts (Economics) was formerly the Executive Director and Managing Director of
from the University of Malaya, obtained his Masters Degree MUI Bank Berhad (now known as Hong Leong Bank Berhad).
and PhD in Economics from the London School of Economics Following the acquisition of MUI Bank Berhad by the Hong
and is a Fellow of the Institute of Bankers Malaysia. Leong Group in 1994, he was appointed as Advisor and
continued to be on the Board of Hong Leong Bank Berhad
He has been with the Genting Group since 1989. He also until December 1995. He was a Director of Rashid Hussain
sits on the Boards of Allianz Malaysia Berhad, Allianz Berhad, UBG Berhad, UBG Enterprise Berhad, CMS Trust
General Insurance Company (Malaysia) Berhad, Allianz Life Management Berhad and Malayan United Industries Berhad.
Insurance Malaysia Berhad and Citibank Berhad. Dato Dr.
R. Thillainathan has extensive years of experience in finance
and banking. He is the past President of Malaysian Economic
Association. He is currently a director of Asia Capital
Reinsurance Malaysia Sdn Bhd, Wawasan Open University
Sdn Bhd, UM Holdings Sdn Bhd, UM Plantations Sdn Bhd
and a trustee of three companies limited by guarantee namely
Child, Information, Learning and Development Centre,
Yayasan MEA and Private Pension Administrator Malaysia.

TAN SRI DR. LIN SEE YAN DATUK CHIN KWAI YOONG
Independent Non-Executive Director Independent Non-Executive Director
Tan Sri Dr. Lin See Yan (Malaysian, aged 75), appointed on 28 Datuk Chin Kwai Yoong (Malaysian, aged 66), appointed on
November 2001, is an Independent Non-Executive Director. 23 August 2007, is an Independent Non-Executive Director.
He is an independent strategic and financial consultant and He is a Fellow of the Institute of Chartered Accountants in
a British chartered scientist. Dr. Lin received three degrees England and Wales and a member of the Malaysian Institute
from Harvard University, including a PhD in Economics. He is of Certified Public Accountants and the Malaysian Institute
an Eisenhower Fellow and also Research Professor at Sunway of Accountants.
University, Professor of Economics (Adjunct) at Universiti
Utara Malaysia and Professor of Business & International He started his career with Price Waterhouse (currently known
Finance (Adjunct) at University Malaysia Sabah. as PricewaterhouseCoopers) as an Audit Senior in 1974 and
was promoted to Audit Manager in 1978. He was an Audit
Prior to 1998, he was Chairman/President and CEO of the Partner in the firm from 1982 until his retirement in 2003.
Pacific Bank Group and for 14 years previously, Deputy During his tenure as Partner, he was the Executive Director
Governor of Bank Negara Malaysia (the Central Bank), having in charge of the Consumer and Industrial Products and
been a central banker for 34 years. After retiring as Chairman Services Group and was the Director-in-charge of the Audit
of EXCO, Khazanah Nasional in 2000, Dr. Lin continues to and Business Advisory Services and Management Consulting
serve the public interest, including Member, Prime Ministers Services division.
Economic Council Working Group as well as a member of key
National Committees on Higher Education; and Economic He has extensive experience in the audits of major companies
Advisor, Associated Chinese Chambers of Commerce and in banking, oil and gas, automobile, heavy equipment,
Industry Malaysia. He is Chairman Emeritus, Harvard manufacturing, construction and property development
Graduate School Alumni Association Council at Harvard industries. He was also involved in the corporate advisory
University and also President, Harvard Club of Malaysia and services covering investigations, mergers and acquisitions
Distinguished Fellow, Institute of Strategic and International and share valuations.
Studies Malaysia.
He is currently a director of Bank Negara Malaysia, Fraser
Dr. Lin advises and sits on the Boards of a number of & Neave Holdings Berhad, Deleum Berhad, Astro All Asia
publicly listed and private enterprises in Malaysia, Singapore Networks plc, Astro Overseas Limited and Astro Malaysia
and Indonesia, including as Independent Director of Holdings Berhad.
Ancom Berhad, Jobstreet Corporation Berhad, Wah Seong
Corporation Berhad, Sunway Berhad and as Chairman of IGB
REIT Management Sdn Bhd, Manager of the IGB Real Estate
Investment Trust.
Dr. Lin is a trustee of Tun Ismail Ali Foundation (PNB),

Malaysian Economic Association Foundation and Prime
Ministers Exchange Fellowship Malaysia as well as Mentor
Counsellor of the Lin Foundation.
Notes:
The details of Directors attendances at Board Meetings are set out in the Corporate Governance statement on page 51 of this Annual Report.
The details of the Board Committees where certain Directors are also members are set out on pages 10 and 11 of this Annual Report.
Save as disclosed, the above Directors have no family relationship with any Director and/or major shareholder of Genting Berhad, have no conflict of interest
with Genting Berhad and have not been convicted for any offences within the past ten years.

MANAGEMENT & CORPORATE INFORMATION
PRINCIPAL EXECUTIVE OFFICERS
TAN SRI LIM KOK THAY MR CHONG KIN LEONG

Chairman and Chief Executive Executive Vice President - Finance
TUN MOHAMMED HANIF BIN OMAR MR ONG TIONG SOON

Deputy Chairman Chief Executive Officer - Genting Energy Division
MR LIM KEONG HUI MS GOH LEE SIAN

Executive Director - Chairmans Office & Senior Vice President - Legal
Chief Information Officer
ENCIK AZMI BIN ABDULLAH
MR TAN KONG HAN Group Treasurer
President and Chief Operating Officer
CORPORATE INFORMATION
GENTING BERHAD AUDITORS

A public limited liability company PricewaterhouseCoopers
Incorporated and domiciled in Malaysia (Chartered Accountants)
Company No. 7916-A
STOCK EXCHANGE LISTING
REGISTERED OFFICE Main Market of Bursa Malaysia Securities Berhad
24th Floor, Wisma Genting (Listed on 28 December 1971)
Jalan Sultan Ismail
50250 Kuala Lumpur Stock Name : GENTING
Tel : (03) 2178 2288/2333 2288 Stock Code : 3182
Fax : (03) 2161 5304
E-mail : [email protected] INTERNET HOMEPAGE
www.genting.com
REGISTRARS
Genting Management and Consultancy Services Sdn Bhd
Jalan Sultan Ismail
50250 Kuala Lumpur
Tel : (03) 2178 2266/2333 2266
Fax : (03) 2161 5304
SECRETARY
Ms Loh Bee Hong


GROUP CORPORATE STRUCTURE
49.3% Genting Malaysia Berhad*
49.3% First World Hotels & Resorts Sdn Bhd^
52.6% Genting Singapore PLC**
52.6% Resorts World at Sentosa Pte Ltd##
LEISURE & 49.3% Genting UK Plc^
HOSPITALITY 50.0% Genting Alderney Limited@
DIVISION 49.3% Genting New York LLC^
49.3% Resorts World OMNI LLC^
38.5% BB Entertainment Ltd^
100.0% Resorts World Las Vegas LLC
26.3% Landing Jeju Development Co. Ltd@
53.6% Genting Plantations Berhad*

53.6% Genting Tanjung Bahagia Sdn Bhd#
53.6% Genting SDC Sdn Bhd#
53.6% Genting Oil Mill Sdn Bhd#
53.6% Genting Plantations (WM) Sdn Bhd#
PLANTATION 50.9% ACGT Sdn Bhd#
DIVISION 39.5% PalmIndo Holdings Pte Ltd
(formerly known as Palm Agri Holdings Pte Ltd)#
53.6% AsianIndo Holdings Pte Ltd#
33.9% GlobalIndo Holdings Pte Ltd (formerly known as
Global Agripalm Investment Holdings Pte Ltd)#
53.6% Genting Property Sdn Bhd#

49.3% Oakwood Sdn Bhd^
GENTING BERHAD (7916-A) PROPERTY 53.6% Setiamas Sdn Bhd#
and its Principal Subsidiaries, DIVISION 49.3% Resorts World Miami LLC^
Joint Ventures and Associates 49.3% Genting Properties (UK) Pte Ltd^
as at 8 May 2015.
100% Genting Power Holdings Limited

100% Genting Power China Limited
100% GP Wind (Jangi) Private Limited
49.0% Fujian Pacific Electric Company Limited@
ENERGY 30.0% Lanco Kondapalli Power Limited@
DIVISION 41.6% Lanco Tanjore Power Company Limited@
74.0% Genting Lanco Power (India) Private Limited
95.0% Genting Oil & Gas Limited
95.0% Genting CDX Singapore Pte Ltd
95.0% Genting Oil Kasuri Pte Ltd
100% Genting Assets, INC

100% Genting Overseas Holdings Limited
100% Genting Hotel & Resorts Management Sdn Bhd
INVESTMENT 100% Awana Hotels & Resorts Management Sdn Bhd
HOLDING & 100% Genting Management and Consultancy
MANAGEMENT Services Sdn Bhd
SERVICES 100% Genting Intellectual Property Pte Ltd
49.3% Resorts World Limited^
50.0% Resorts World Inc Pte Ltd@
30.3% Landmarks Berhad*@
* Listed on Bursa Malaysia Securities Berhad.

** Listed on Singapore Exchange Securities Trading Limited.
^ Subsidiary of Genting Malaysia Berhad.
#
Subsidiary of Genting Plantations Berhad.
##
Subsidiary of Genting Singapore PLC.
@
Joint venture / Associate
CORPORATE DIARY
2014 12.06.2014
Forty-Sixth Annual General Meeting and Extraordinary
27.02.2014 General Meeting.
Announcement of the Consolidated Unaudited Results of the
Group for the fourth quarter and the Audited Results for the 28.08.2014
financial year ended 31 December 2013. Announcement of the following:
17.04.2014 (a) Consolidated Unaudited Results of the Group for the

Announcement of the following: second quarter ended 30 June 2014; and
(b) Entitlement Date for Interim Dividend in respect of the
(a) Proposed renewal of authority for the Company to financial year ended 31 December 2014.
purchase its own shares; and
(b) Proposed exemption under Paragraph 24.1 Practice Note 22.09.2014
9 of the Malaysian Code on Take-Overs and Mergers, Announcement of the maturity and full redemption in cash
2010 (Proposed Exemption). of the USD300 million 10-Year Guaranteed Notes Due 2014
issued by a wholly-owned subsidiary of the Company, Prime
06.05.2014 Holdings (Labuan) Limited, guaranteed by the Company.
Announcement of the proposed shareholders mandate for
recurrent related party transactions of a revenue or trading 21.11.2014
nature (Proposed Recurrent Related Party Transactions). Announcement of the Consolidated Unaudited Results of the
Group for the third quarter ended 30 September 2014.
21.05.2014
Notice to Shareholders of the Forty-Sixth Annual General 2015
Meeting.
26.02.2015
27.05.2014 Announcement of the Consolidated Unaudited Results of the
Announcement of the proposed authority for the Company Group for the fourth quarter and the Audited Results for the
to purchase its own shares (Proposed Share Buy-Back) financial year ended 31 December 2014.
without the Proposed Exemption.
07.05.2015
28.05.2014 Announcement of the following:
Notice to Shareholders of the Extraordinary General Meeting
for the Proposed Share Buy-Back and Proposed Recurrent (a) Proposed renewal of authority for the Company to
Related Party Transactions. purchase its own shares;
(b) Proposed shareholders mandate for recurrent related
29.05.2014 party transactions of a revenue or trading nature; and
Announcement of the Consolidated Unaudited Results of the (c) Entitlement date of the proposed final single-tier dividend
Group for the first quarter ended 31 March 2014. in respect of the financial year ended 31 December 2014.
DIVIDENDS
Announcement Entitlement Date Payment
2014 Interim Single-Tier 1 sen per ordinary share of 10 sen each 28 August 2014 30 September 2014 27 October 2014
2014 Proposed Final Single-Tier 3 sen per ordinary share of 26 February 2015 30 June 2015 27 July 2015*
10 sen each
*Upon approval of shareholders at the Forty-Seventh Annual General Meeting.

FINANCIAL HIGHLIGHTS
REVENUE MARKET CAPITALISATION
18.2 billion
(17.1 billion in 2013)
33.0 billion
(As at 31 December 2014)
EBITDA TOTAL EQUITY
6.6 billion
53.1 billion
NET PROFIT TOTAL ASSETS EMPLOYED
3.1 billion
73.3 billion
RM million REVENUE RM million EBITDA

21,000 12,000
18,000 10,000
15,000 8,000
12,000
6,000
9,000
4,000
15,194.7
18,580.1
16,461.9
17,111.7
18,216.5
7,094.3
7,632.8
6,775.0
6,116.4
6,627.5
6,000
3,000 2,000
0 0
2010 2011 2012 2013 2014 2010 2011 2012 2013 2014
Year Year
US, Bahamas
US and Bahamas
Others UK and Others
RM1,036.5m
RM1,181.6m RM226.4m RM362.9m
6%
6% 3% 6%
UK
RM1,714.1m
9% Singapore
RM3,060.9m
Malaysia 46%
Malaysia Singapore
RM2,977.3m
RM6,888.6m REVENUE BY RM7,395.7m
45%
EBITDA BY
38% LOCATION 41% LOCATION

MANAGEMENTS DISCUSSION AND ANALYSIS OF
BUSINESS OPERATIONS AND FINANCIAL PERFORMANCE
FINANCIAL REVIEW There were higher contributions made in support of the Groups
social responsibility efforts in financial year 2013. This was
Revenue partially offset by the project costs written off by GENM Group in
2014 arising from the unsuccessful application for new licenses
The Groups revenue from continuing operations for financial year in New York State and the higher payroll and related costs of
2014 was RM18,216.5 million compared with RM17,111.7 million Resorts World Casino New York City (RWNYC) operations.
in 2013, an increase of 6.5%.
(d) Impairment losses in 2014 were RM265.0 million compared
The higher revenue recorded by Resorts World Sentosa (RWS) in with RM109.2 million in 2013. The impairment losses in
Singapore was primarily from its gaming business. Despite overall 2014 were mainly in respect of certain casino licences and
higher volume of business generated by Resorts World Genting related assets in the UK, impairment on certain of the Groups
(RWG) in Malaysia, its revenue decreased, mainly due to lower hold available-for-sale financial assets and other assets.
percentage in the premium players business. The increase in revenue
from the United Kingdoms (UK) leisure and hospitality business Other income
was mainly due to the favourable foreign exchange movement of
the Sterling Pound against the Malaysian Ringgit. Higher revenue The increase in other income of the Group from RM701.3 million
from the leisure & hospitality business in the United States (US) in 2013 to RM1,262.7 million in 2014 was due mainly to Genting
and Bahamas was mainly contributed by the commencement of Singapore PLCs (GENS) gain on disposal of available-for-sale
operations by Resorts World Bimini in June 2013. financial assets and the Groups higher net foreign exchange gains.
Increase in the Plantation Divisions revenue was attributed to higher Adjusted earnings before interest, tax, depreciation and amortisation
fresh fruit bunches (FFB) production along with higher palm kernel (Adjusted EBITDA)
prices.
The Groups adjusted EBITDA excludes the effects of non-recurring
Higher revenue from the Power Division was mainly due to the larger items, such as net fair value gain and loss, gain or loss on disposal of
recognition of construction revenue generated from the progressive financial assets, gain or loss on deemed dilution of shareholdings in
development of the 660MW coal-fired Banten plant in Indonesia associates, project costs written off, reversal of previously recognised
(Banten Power Plant). impairment losses, impairment losses, pre-opening and development
expenses, assets written off, gain or loss on disposal of assets and
Higher revenue from the Property Division was mainly due to record share-based payment expenses.
property sales by Genting Plantations Berhads (GENP) property
division. The Groups adjusted EBITDA from continuing operations for 2014
was RM6,627.5 million compared with RM6,116.4 million for
Revenue from the Oil and Gas Division in financial year 2014 was 2013, an increase of RM511.1 million or 8.4%. The higher EBITDA
contributed by Genting CDX Singapore Pte Ltd (Genting CDX) was due mainly to EBITDA from Plantation-Malaysia segment,
which during the year acquired a 57% participating interest in the attributable to higher palm kernel prices and lower manuring costs
Chengdaoxi Block in China in July 2014. and Plantation-Indonesia segment due to higher FFB production,
improved operational efficiencies and stronger palm kernel prices.
Costs and expenses In addition, Property Division contributed to higher EBITDA from the
higher land sales and continued demand for new property offerings
Total costs and expenses from continuing operations before finance as well as contribution by Genting CDX and the Groups higher net
costs and share of results in joint ventures and associates of the foreign exchange gains.
Group in 2014 was RM14,851.8 million compared with RM13,399.3
million in 2013. The increase of RM1,452.5 million was due mainly Finance costs
to the following:
The Groups finance costs for 2014 of RM437.0 million was lower
(a) Cost of sales increased from RM10,686.4 million to than that of 2013 of RM460.0 million by RM23.0 million. The
RM11,906.3 million, an increase of RM1,219.9 million. decrease was mainly due to lower average outstanding loans following
net repayments during 2014.
Cost of sales of Genting Malaysia Berhad Group (GENM
Group) increased due mainly to higher payroll costs and other Taxation
operating expenses. The operations in Bimini also had a full year
impact on costs in the current financial year. The tax expense of the Group for 2014 was RM1,108.7 million
compared with RM746.9 million in 2013. The tax expense was lower
In addition, higher construction cost was recognised in respect in 2013 mainly due to the GENM Groups one time recognition of
of the Banten Power Plant in line with the higher percentage of deferred tax asset in respect of tax losses and capital allowances of
completion of the plant. its US and Malaysian operations respectively.
(b) Selling and distribution costs increased from RM354.8 million Loss from discontinued operations
to RM382.1 million, an increase of RM27.3 million.
The loss from discontinued operations in 2014 was in respect of
The increase was mainly from GENM Group due to higher the Meizhou Wan power plant. A Sale & Purchase Agreement
marketing, promotion and other associated costs of the GENM (SPA) was signed on 13 November 2013 for the disposal of a
Group. 51% shareholding in Fujian Pacific Electric Company Limited. The
disposal was completed on 10 July 2014 and the financial results
(c) Administration expenses decreased from RM1,646.5 million to of the Meizhou Wan power plant have been accounted for as a joint
RM1,385.7 million, a decrease of RM260.8 million. venture from the date of completion.

Profit attributable to equity holders of the Company As GENS looks towards growing its earnings base, it is actively seeking
new opportunities within its core competencies. GENS has leveraged
The profit attributable to equity holders of the Company decreased its track record, experience and branding to embark on a new
from RM1,810.1 million in 2013 to RM1,496.1 million in 2014. Integrated Resort project in Jeju, Korea. Resorts World Jeju (RWJ)
held its ground breaking on 12 February 2015. RWJ will boast of a
Liquidity and Capital Resources world-class theme park, water park, MICE facilities, sizeable retail
space, gaming and entertainment facilities, and luxury hotels. GENS
The Groups capital expenditure and working capital requirements is confident that RWJ will be a magnet for the regional tourist market,
have been financed by cash generated from operations and short- where within a flying radius of 2 hours, there is a sizeable population
term and long-term debt provided by third party banks or raised via of 750 million. Jeju will be a clear beneficiary of this development
issuance of debt securities. as GENS works closely with, and be a partner to the Government and
people of Jeju.
Cash and cash equivalents decreased from RM17,963.7 million as
at 31 December 2013 to RM16,391.2 million as at 31 December In the UK, the GENM Group is pleased with the growth momentum in
2014. This was mainly due to lower net cash generated from operating its domestic and international markets achieved in 2014. This year,
activities, higher cost incurred for oil and gas exploration and higher the GENM Groups focus is on innovative strategies in growing its
net cash used in financing activities. Financing activities recorded business, gaining market share in the domestic segment and on the
a net cash outflow in 2014 of RM2,620.5 million due mainly to successful opening of RWB. RWB will be the first integrated resort in
repayment of borrowings. Net cash outflow from investing activities the UK and is on track to open in the second half of 2015.
in 2014 was RM4,176.5 million, comprising mainly payments for
purchase of investments, property, plant and equipment and oil and In the US, RWNYC continues to be the market leader in terms of
gas exploration costs, partially offset by proceeds from disposal of gaming revenue in New York State. The GENM Group remains focused
investments. on introducing more innovative measures to encourage higher levels
of visitations and enlarge its customer database. In the Bahamas, the
Total loans of the Group decreased from RM13,385.4 million as at 31 GENM Group expects visitations to Bimini to increase further this year
December 2013 to RM12,552.6 million as at 31 December 2014. following the opening of its deep water jetty in third quarter of 2014,
along with the targeted opening of its new luxury hotel by mid 2015.
The Groups capital expenditure in 2014 was RM2,853.0 million,
which was mainly attributable to development work relating to the The continuing recognition of construction revenue and profit
Genting Integrated Tourism Plan (GITP) at RWG, construction of in accordance with FRS 111 Construction Contracts during
infrastructure facilities at Resorts World Bimini and the development the construction period of the Banten Power Plant in West Java,
of Resorts World Birmingham (RWB). Indonesia, as per the requirement under IC Interpretation 12 Service
Concession Arrangements will contribute to the overall performance
Gearing of the Power Division.
The gearing ratio of the Group as at 31 December 2014 was The GENP Groups performance in 2015 will be influenced by, among
19% compared with 21% as at 31 December 2013. This ratio is others, the direction of the palm product prices, crop production
calculated as total debt divided by total capital. Total debt, which is trends, demand for the GENP Groups properties and input cost
calculated as total borrowings, amounted to RM12,552.6 million as factors.
at 31 December 2014 (2013: RM13,385.4 million). Total capital is
calculated as the sum of total equity and total debt, which amounted The supply and demand dynamics of the global edible oils industry
to RM65,611.3 million in 2014 (2013: RM63,958.0 million). will continue to be the key drivers of palm oil price direction in the
upcoming year. These, in turn, are influenced by the weather patterns,
Prospects the regulatory environment and global economic prospects, as well
as factors such as market sentiment and currency exchange rates.
In Malaysia, the GENM Group continues to focus on the development Furthermore, significant shifts in the price spread between crude oil
of its GITP at RWG. Approximately one third of the 1,300 rooms and edible oils may determine the economic feasibility of discretionary
under the First World Hotel Tower 2A development were opened at biodiesel use, thus potentially influencing market direction.
the end of 2014, with the remaining rooms to be available by mid
2015. The GENM Group expects the next phases of GITP to open in Still, market conditions notwithstanding, the GENP Group anticipates
2016. Despite the on-going construction works and temporary closure that Plantation-Indonesia will continue to be instrumental in driving
of certain parts of First World Plaza, the GENM Group will remain production growth for the year in view of the segments younger age
focused on its core business by improving its yield management profile compared with the Malaysian estates, which have mostly
systems, marketing capabilities, operational efficiencies and delivery reached prime productive age with a steadier yield trend.
of services. In addition, this year, the GENM Group will introduce
special anniversary promotional events and activities to celebrate the For the Property segment, the GENP Group is cognizant of recent
50th year of the founding of the Genting Group. concerns about signs of possible oversupply in the Iskandar region,
and will remain focused on its core strength of offering affordable
RWS has been reorganising its gaming programmes to focus marketing housing and properties that are well-aligned to market requirements
initiatives towards the foreign premium mass and mass market in the flagship Genting Indahpura township.
segments. Its non-gaming business remains strong. RWS expects the
non-gaming earnings to post respectable growth in 2015 as the travel Contribution from Genting CDX is expected to reduce following the
industry climbs out of a difficult year in the region. sharp drop in world oil prices. To cushion the expected impact of
reduced revenue, Genting CDX will continue its efforts to increase the
GENSs new hotel in the Jurong Lake District, Genting Hotel Jurong, production of oil from its operations.
had a soft opening on 30 April 2015. This strategically located 550-
room hotel will add much needed capacity to its room inventory. This To date, the Oil & Gas Division has drilled 9 wells in West Papua
asset forms an important part of its business strategy to drive greater which has led to oil and gas discoveries in Asap, Merah and Kido. The
visitation to RWS. Division will conduct the re-testing of two drill stem tests for Kido-1x
in the near term and continue to drill Bedidi Deep-1x.

YEAR IN REVIEW
GENTING SINGAPORE RESORTS WORLD SENTOSA
www.gentingsingapore.com www.rwsentosa.com
Genting Singapores flagship project Resorts World Sentosa in Singapore is one of the largest fully integrated
resorts in South East Asia. The company is developing an integrated resort in Jeju, South Korea called Resorts
World Jeju, slated to open progressively in 2017.
Genting Singapore performed creditably in 2014, despite a

challenging year for businesses across the broader tourism
and gaming sectors.
Its flagship property, Resorts World Sentosa contributed a

stable income from both gaming and non-gaming segments,
despite lower tourist arrivals from major markets including
China. Its six hotels performed favourably amidst the modestly 2
weaker tourism industry. Average occupancy rate achieved in
2014 was a high 93%, an improvement compared to 92% in Efforts were focused on refreshing the resorts offerings and
2013. The average room rate was SGD407 per night in 2014 building signature and seasonal events at the attractions to
and was consistent with the previous year. Both average enrich guest experience and attract new and repeat visitors.
occupancy rate and average room rate recorded by Resorts The world-class attractions at Resorts World Sentosa namely
World Sentosa strongly surpassed the industrys averages of Universal Studios Singapore, S.E.A. Aquarium, Adventure
85.5% and SGD258 respectively. Cove Waterpark and Dolphin Island registered over six million
visitors in 2014. One of its key entertainment highlights was
Its continuous efforts to innovate and re-invent to deliver Halloween Horror Nights at Universal Studios Singapore.
unique guest experiences have earned Resorts World Sentosa Since its inception in 2011, the event has grown very popular
numerous awards of excellence for its attractions, hotels, spa and has become a key happening event on Singapores tourism
and restaurants. During the year, the resort won the Best calendar. Over 13 consecutive nights in 2014, Universal
Integrated Resort for the fourth consecutive year at the Studios Singapore was transformed with four haunted houses,
Travel Trade Gazette Travel Awards 2014. four immersive scare zones and 444 scare actors, drawing
over 140,000 visitors in total. Complementing the Halloween
theme, S.E.A. Aquarium rolled out a series of family-friendly
Halloween entertainment attractions throughout the month.
1. Resorts World Sentosa - one of the largest fully integrated resorts in 2. Moments a regional promotional campaign was launched in May 2014
South East Asia. to celebrate guests special moments at Resorts World Sentosa.

Photo courtesy of Music Hall and photographer Luk Monsaert
3 4
Universal Studios Singapore collaborated with DreamWorks The opening of Trick Eye Museum in June 2014 added to
Animation to produce the stage show The Dance for the Resorts World Sentosas attractions. The launch of the
Magic Beans featuring Puss In Boots and Kitty Softpaws, museum attracted long queues of guests who were eager
which was launched in September 2014. In addition, a new to be a part of the 3D optical illusion artworks, whether
suspended roller coaster ride - Puss In Boots Giant Journey to be eaten alive by monster fish, or skydiving like a
was opened in April 2015. It is the worlds first roller coaster professional.
to be based on the Puss In Boots franchise.
Resorts World
During the year, the Sentosas outstanding
S.E.A. Aquarium reputation as a culinary
collaborated with non- destination continued
governmental and to win over discerning
inter governmental diners from Singapore
organisations, and overseas. The
international aquariums, launch of Insadong
research and Korea Town at the
educational institutes resorts waterfront in
as well as photographers the third quarter of
and filmmakers to 2014 added to the
develop research vibrancy and diversity
and conservation of its restaurant outlets.
programmes focusing on
global ocean issues. Two new celebrity
chefs recently took
A series of themed residence at the resort
months with 5
to expand its repertoire
conservation-themed of gourmet offerings.
programmes and Renowned Japanese
activities for all ages was launched to spread the message of chef Hal Yamashita who helms Syun, serves modern
conservation. The Sawfish, a new addition to the aquarium, Japanese contemporary cuisine and award-winning Thai chef
was introduced to enable guests to gain new learning Ian Kittichai took up the role of consultant chef at Tangerine,
experiences on each visit. offering healthy and flavourful Thai cuisine.
4. A new stage show, The Dance For The Magic Beans featuring Puss In
3. Peter Pan The Never Ending Story premiered in the Resorts World Boots and Kitty Softpaws was launched in Universal Studios Singapore
Theatre in November 2014 and delighted audiences with chart-topping in September 2014.
hits and breathtaking sets and stunts. 5. Trick Eye Museum joined Resorts World Sentosas attractions in June
2014.

YEAR IN REVIEW (contd)
3 During the year, the GroupMAX online system was introduced

to enable personalised booking websites for every MICE
event, giving the guests the convenience of self-managing
Resorts World Sentosas chefs and restaurants earned many their reservation. Function rooms at the convention centre
accolades and awards for being among the finest in the were refurbished to enhance the quality of its facilities.
culinary world. In April, its chefs won six Gold, three Silver
and five Bronze medals in the four-day Food & Hotel Asia To augment the range of event spaces, the Royal Albatross
Culinary Challenge, the regions leading international culinary was berthed at the resort to provide MICE guests the choice
competition. of chartering the vessel for corporate, private and dockside
events.
The resorts team of pastry chefs was placed in the top three
at the Fourth International Confectionary Art Competition In February 2014, Genting Singapore announced a joint
(Mondial Des arts Sucres) held in Paris. Yew Eng Tong, the venture with Landing International Development Limited
Chef de Cuisine at Ocean Restaurant by Cat Cora was the first to develop and manage an integrated resort in Jeju, Korea.
runner-up in Bocuse dOr Asia Selection 2014, a competition Resorts World Jeju broke ground in February 2015. The
seen as the Oscars of the culinary world. He subsequently USD1.8 billion development with premium leisure and
represented Singapore in the international phase of the entertainment facilities is slated for a progressive opening
competition in Lyon in January 2015 and was part of the from 2017.
Singapore national team that won the World Champion title at
the Expogast Culinary World Cup 2014 held in Luxembourg. The development of Genting Hotel Jurong progressed steadily.
The topping out ceremony was held in September 2014 and
Resorts World Sentosa remained the preferred MICE venue the hotel had its soft opening on 30 April 2015.
for both long-term and new corporate partners. It was the
venue of choice for several major events, including the Asia
Pacific Intel Solutions Summit 2014, SMU Commencement
2014, 8th International Teochew Youth Convention and
Mental Arithmetic International Competition 2014.
1. Artist impression of Resorts World Jeju, Korea. 2&3. Genting Hotel Jurong will cater to both leisure and business travellers.

GENTING MALAYSIA RESORTS WORLD GENTING
www.gentingmalaysia.com www.rwgenting.com
Resorts World Genting is Malaysias iconic premier leisure and tourist destination of choice international and
local visitors. Located at 6,000 feet above sea level, it is surrounded by panoramic mountain views and enjoys
cool spring-like weather.
Resorts World Genting is an award-winning, world-class First World Hotel, achieved a consistent overall occupancy
integrated destination resort that offers a myriad of exciting of 91% (2013: 90%). The mid-hill Awana Hotel recorded an
and fun-filled attractions for everyone. occupancy rate of 55% (2013: 59%). One third of the First
World Hotel Tower 2 Annex rooms were opened for sale on 18
Following the launch of the Genting Integrated Tourism December 2014 while the remaining rooms are targeted to
Plan (GITP) on 17 December 2013, the transformation of complete by mid 2015. First World Hotel Tower 2 Annex is
Resorts World Genting had progressed well in 2014. Despite an all-new trendy and chic 3-star hotel. It is the latest hotel
the closure of the outdoor theme park to make way for the facility in Resorts World Genting.
upcoming Twentieth Century Fox World Theme Park and the
temporary closure of Theme Park Hotel since early 2014 for Resorts World Genting offered a variety of world class shows
refurbishment works, the resort performed commendably in and performances throughout the year. Popular resident
2014. Resorts World Genting registered 18.1 million visitors shows for the year included Peter Marvey, a multi-award
in 2014 (2013: 19.6 million), comprising 28% hotel guests winning illusionist from Switzerland who showcased his
and 72% day-trippers. signature Dream Flying illusion at Genting International
Showroom. Other top shows included a Broadway-style
The Resorts World team has started promoting the upcoming musical production, Sesame Street Live Elmo Makes Music,
new theme park by hosting several events based on the where young children and families sang along with the iconic
Twentieth Century Fox movies. Daily meet-and-greet sessions Sesame Street characters such as ELMO, Bernie and Cookie
with movie characters from Ice Age, Epic and RIO at the Monster for an unforgettable family fun.
First World Hotel Times Square and Genting International
Showroom were organised during the June school holidays Arena of Stars remained a popular venue for events and
in 2014. The Ice Age Adventure was introduced at Genting concerts, despite a temporary closure during the year for
International Convention Centre in September 2014 which upgrading works. Concerts at Arena of Stars were performed
offered a variety of fun activities to children and families by international superstars such as the legendary Lionel
including 2D display die-cut photography spots, 3D street Richie, multinational operatic pop vocal group IL Divo and
art elements and mirror illusions. A magical moment came renowned Asian celebrities such as David Tao, Jeff Chang,
alive at Resorts World Genting with the Night at the Museum Su Rui & Power Station, Grasshopper and Linda Chung.
Magical Adventure, an interactive puzzle game simulation Other happening shows and events included TVB Star Awards
based on the movie. 2014, one of the signature award shows from Hong Kong,
Asias largest expo the Transformers Expo Malaysia 2014,
The resorts five hilltop hotels, namely Genting Grand, Red Bull Air Race party and the epic New Year eve countdown
Maxims/Crockfords, Resort Hotel, Theme Park Hotel and party.
4. Resorts World Genting - Malaysias iconic premier integrated resort.

1 2 3
Resorts World Genting offers a diverse range of gastronomy SnowWorld, located in First World Plaza is the biggest winter
delights for its discerning guests. The resorts 36 operated wonderland in Malaysia with an European-street themed
outlets served 10.7 million covers in 2014 (2013: 11.1 attraction and a temperature of negative 6 degree Celsius.
million). Various food and beverage promotions were held It hosted a variety of fun-filled events such as The Story of
throughout the year including Torques & Tails, Lollipops & ALICE, an ice carving attraction themed after the fairytale
Popcorns, Churasco, Chilies-In Honour of the Tongue and Alice in Wonderland and the ice sculptures were then
Just Sweets, that attracted the local and international food transformed into a fabulous Christmas wonderland for visitors
patrons to the resort. to celebrate.
Resorts World Genting team 4

Horizon 50, a state-of-the-art
continued its winning streak visual gallery was launched on
in the Malaysia International 4 December 2014, offering a
Gourmet Festival (MIGF) glimpse of the many new and
by bagging 25 awards, exciting attractions to come
including the Most Outstanding under the GITP. Horizon
Marketing of the Festival 50 is designed with special
(Special MIGF Awards). Several multimedia visual effects
of its F&B outlets such as Good to take visitors through a
Luck Restaurant and Maxims fascinating journey of the resort
Dining were renovated in 2014 to over the last 50 years and its
provide better dining experience. future developments. There
are fascinating infographics
During the year, guests had displaying the amazing scale of
the chance to participate in a Resorts World Gentings current
3-hour Behind-the-Scenes Tour operations. In addition, Horizon
that offered the rare insights 50 can cater for events, parties
into the day-to-day operations of and private performances, where
Resorts World Genting. The tour it can accommodate up to 100
included The Visitors Galleria people for a stage show.
which showcases the fascinating
history of Resorts World Genting Simultaneous with the launch of
and what is new to come, as well Horizon 50 is the introduction of
as the First World Hotel laundry Tan Sri Michelle Yeoh, a world-
- the largest hotel laundry in renowned actress as its brand
Malaysia. The participants also ambassador and Sky Avenue,
had the opportunity to learn the art of making sushi maki and the upcoming latest lifestyle shopping mall at the resort. Sky
cupcakes in the See, Do & Eat interactive workshop. Avenue is designed with open air decks that form a perfect
platform for cafes and al fresco dining, overlooking the stunning
views of the Twentieth Century Fox World Theme Park.
1. First World Hotel Tower 2 Annex Lobby. 3. Peter Marvey Magician without limits.
2. Sesame Street Live Elmo Makes Music. 4. Bumblebee at Transformers Expo 2014.

5 6
The resort expanded the geographical coverage of its daily options including Maybank2U and China UnionPay (CUP)
tour bus services within Peninsular Malaysia to 99 locations and users from China can transact in Chinese Yuan using
in 2014 (2013: 69) to cater to a wider market requiring bus Alipay or CUP online payment.
transport to the resort. More VIP coaches were made available
and the resorts fleet of buses and limousines were upgraded The iTour service was implemented in early of 2014 to enable
to provide additional comfort and enhanced safety features travel agents including inbound travel agents, local and bus
for its guests. operators from Singapore to make end-to-end reservations
through a consolidated booking system at their convenience.
Awana Skyway, Malaysias first cable car system ceased its The iMICE system, which is an online eQuotation serving the
operations on 1 April 2014 after 40 years of service to make Meetings, Incentives, Conferences and Exhibitions (MICE)
way for the construction of a new cable car system. The new market for the past five years was upgraded to provide clients
system is expected to comprise 104 gondolas with a capacity with a more user-friendly experience.
of 6,000 passengers per hour and covering an estimated
distance of 2.8 kilometres. The resorts other cable car system The Genting Rewards Card (GRC) Loyalty Programme
Genting Skyway, remains as a favourite choice for visitors to has over 3.4 million members across Malaysia, with over
ride from mid-hill to the hilltop of the resort and enjoy the 50 participating merchants and 1,000 merchants outlets.
scenic views of the surrounding hills. Genting Skyway carried Numerous membership drive campaigns were held in 2014
over 4.2 million passengers in 2014 (2013: 5.2 million). Two to attract the younger market and the campaigns received
luxurious private jet aircrafts are also available to serve the an overwhelming response with more than 200,000 new
privileged premium guests of the resort. members registered. GRC capitalised on the social media
technology and created a WeChat account in the third quarter
Resorts World Genting continued to grow its online business of 2014 to enable members to be connected instantly and
with the digital channel contributing 59% to the total room receive information on the latest promotions and offers.
sales in 2014. A number of enhancements to the online
booking system were made to improve the online customer
experience. Customers can now pay via various payment
7 8
5. Introduction of Sky Avenue. 7. The Ice Age Adventure at Genting International Convention Centre.
6. Launching of Horizon 50 and the introduction of Resorts World 8. Indulge in style at Seasons, Resorts World Genting.
Gentings new brand ambassador - Tan Sri Michelle Yeoh.

1 3
RESORTS WORLD KIJAL

www.rwkijal.com 2
Resorts World Kijal is a five-star golf, beach and spa resort

in Terengganu, with 340 guest rooms and suites that oversee
spectacular views of South China Sea. The resort has an 18-
4
hole international golf course for avid golfers, as well as a
7.6-kilometre long pristine beach for land and water sports
enthusiasts. In 2014, it recorded an occupancy rate of 71% RESORTS WORLD LANGKAWI
(2013: 76%). www.rwlangkawi.com
Resorts World Kijal completed several upgrading and Resorts World Langkawi, located at the south-western tip of
improvement projects in 2014 such as the installation of Langkawi, a tropical island paradise famed for its mythical
additional closed circuit monitoring systems on the hotel legends, presents a serene retreat to its discerning guests.
premises and the upgrading of all rooms with electronic locks The Mediterranean-inspired design seafront resort with 208
for Radio - frequency identification (RFID) card systems to rooms is renowned for its breezy boardwalk with beautiful sun
enhance guests comfort and safety. set views on the horizon of nearby islands.
As the premier business resort in the region, Resorts World Kijal Major events hosted by the resort in 2014 included
hosted several events during the year such as International The Ship for Southeast Asian Youth Program (SSEAYP),
Terengganu Master Championship Golf Tournament organised 26th International General Assembly (SIGA) Langkawi,
by the Terengganu Heritage (Perkasa Alam Club), and International Federation of Muaythai Amateur World
visits from DYMM Tuanku Sultan Terengganu, other royal Championship Langkawi 2014, Persidangan Suruhanjaya-
dignitaries, international diplomats, cabinet ministers and Suruhanjaya Perkhidmatan Awam Malaysia Ke-17 and BMW
many more distinguished guests. Motorrad Club Eco-Challenge & Family Day 2014. The
occupancy rate in Resorts World Langkawi remained strong
Resorts World Kijal actively engages with the local community. at 71% (2013: 72%), driven mainly from higher arrivals
Social responsible projects undertaken in 2014 included from India.
Beach Cleaning at Turtle Sanctuary Ma Daerah Kerteh,
Breaking Fast with the local communities and the We Care
aid for the East Coast flood disaster. In addition, Resorts
World Kijal collaborated with the Institute Kemahiran Belia
Negara (IKBN) Kemasik to provide practical hotel training 1. Resorts World Kijal.
2. Resorts World Kijal Oasis Beach Bar.
programme for the IKBN students. 3. Resorts World Langkawi.
4. Resorts World Langkawi Swimming Pool.

GENTING UK
www.gentingcasinos.co.uk
Genting UK is one of the leading casino operators in the UK. It owns 41 of the total 147 casinos operating in
the UK, as at 31 December 2014.
In London, Genting UK operates 6 casinos and its competitive The development of Resorts World Birmingham is well on
position in the UKs capital city is formidable, led by its schedule, with an anticipated opening in the second half of
extensive heritage and flagship offerings which capitalise on 2015. As the first integrated resort in the UK, it will comprise
its four prestigious brands including Crockfords, the Colony the Genting International Casino, 178-room four-star Genting
Club, Maxims Casino Club and The Palm Beach. Hotel, Santai Wellness Spa and Gym, outlet shops, 11-screen
cinema, restaurants and bars, as well as exclusive private
Crockfords and the Colony Club in Mayfair and Maxims Casino gaming rooms on the 5th floor with adjoining five-star hotel
Club in the Royal Borough of Kensington and Chelsea provide suites, private lounge and a spectacular Sky Bar. The resort
exclusive gaming in private, opulent and grand settings for located adjacent to Birmingham Airport, will incorporate
high level and international players while The Palm Beach in facilities for high-end gaming which are designed to extend
Mayfair remains one of the most vibrant and exciting gaming the UK Groups high level and international player facilities.
floors in the UK. Crockfords Live was launched in January
2014, offering the Crockfords gaming experience online. Genting UK also secured the sponsorship rights of the
second largest concert area in the UK which is situated next
The property has now been extensively refurbished, with to Resorts World Birmingham, towards the end of 2014.
capital expenditure in both product and amenity, which led From January 2015, the arena was renamed as Genting
to market share gains particularly in the second half of 2014. Arena. Genting Arena not only complements everything
Genting UK adopted a segmented approach to promote its Resorts World Birmingham has to offer but also enables the
Genting Rewards loyalty programme. In return, its database new resort and the broader Genting Casino properties across
has delivered good financial results. the UK to be promoted to an estimated 1 million concert
visitors to Genting Arena annually.
6 7 8
5. Artist impression of Resorts World Birmingham. 7. Artist impression of Resorts World Birminghams Genting Hotel room.
6. Crockfords Restaurant. 8. Genting Club Fountainpark Bar.

RESORTS WORLD CASINO NEW YORK CITY
www.rwnewyork.com
Genting Malaysias wholly-owned subsidiary Genting New York LLC operates Resorts World Casino
New York City, the first and only video gaming machine facility in New York City, US, at the site of the
Aqueduct Racetrack.
Since commencing operations on 28 October 2011, Resorts Resorts World Casino New York Citys strategic location within
World Casino New York City has established itself as one of the New York City and easy transport connectivity continue to
citys top entertainment destinations, offering about 5,000 spur its growth. It is only 10 minutes drive to the John F.
electronic gaming machines, live music, entertainment shows Kennedy International Airport and is easily accessible via the
as well as premier dining with extensive cuisine choices from Metropolitan Transport Authoritys extensive bus and train
local favourites to haute cuisine. transportation systems. In 2014, the Resorts World Casino
New York City team doubled the successful Red Express bus
Exclusive VIP lounges such as Palm Beach Lounge and services by adding new routes and stops in Brooklyn, Queens
Baccarat Club offer VIP players a variety of drinks and and Manhattan to encourage more visitors and enlarge its
delicious snacks. Guests were entertained to a diverse range customer base.
of concerts, dance parties and events held at its Central Park
Events Center and Festival Commons throughout the year in In 2014, the team partnered with the Queens Economic
review. Development Corporation to promote and advertise the
Queens borough as a destination to host top events and
It registered about 8.6 million visitations and continued to cultural activities.
deliver good financial results in 2014. During the year, the
team undertook initiatives to right-size its workforce as part
of its ongoing efforts to enhance operational efficiencies.
2 3
1. Resorts World Casino New York City. 3. Bar 360 at Resorts World Casino New York City.
2. Slots area at Resorts World Casino New York City.

5
RESORTS WORLD BIMINI & BIMINI SUPERFAST

www.rwbimini.com
6
Resorts World Bimini is located on the beautiful island of
North Bimini in The Bahamas. The Bimini islands, located
just 50 miles from Miami, are known as The Gateway to the
RESORTS WORLD MIAMI Bahamas.
www.rwmiami.com
Resorts World Bimini became one of the worlds first cruise
The proposed Resorts World Miami is to be located on a destination resorts with the launch of the Bimini SuperFast
contiguous 30-acre prime freehold waterfront site overlooking in 2013, a revolutionary new concept in tourism. With
Biscayne Bay in downtown Miami, Florida. A 30,000 square- speeds of up to 30 knots, the German-built vessel is among
foot facility at this site currently serves as the corporate the fastest cruise ship in the Americas, capable of delivering
headquarters for three entities of Resorts World, namely up to 1,500 passengers to the island destination in about 3
Resorts World Bimini, Resorts World Bimini SuperFast and hours.
Resorts World Miami.
Resorts World Bimini offers a casino, luxurious
Adjacent to these corporate offices is the 527-room Hilton accommodations, a wide variety of elite amenities and direct
Miami Downtown hotel, which is owned by Genting Malaysia. access to Biminis diverse world-renowned activities. There is
The hotel achieved an average occupancy rate of 84% in a diverse mix of restaurants to appeal to every palate including
2014 (2013: 85%) and is expected to be refurbished in a fine dining restaurant, a dockside open air restaurant,
2015 to enhance its rooms, corridors and public spaces to poolside grill and a contemporary Bahamian restaurant in
better compete with other 4-star hotels in downtown Miami. the casino. The property boasts the largest marina in The
Bahamas with 230 slips that can accommodate yachts up to
The demolition works of the former Miami Herald Building 200 feet in length.
were completed in 2014 and the Group will continue to
refine the plans for a mixed used development at the site. The business at Resorts World Bimini was challenging in
2014, in view of its infrastructure constraints. To address
these constraints, the first phase of its new port at Resorts
World Bimini was opened on 18 September 2014, enabling
passengers to disembark directly onto the island. The
completion of the port, which includes a temporary Customs
and Immigration facility, offers guests uninterrupted cruise
services during the winter months.
4. Omni Centre, Miami US. 6. Artist impression of the new luxury marina hotel room at Resorts World
5. Bimini SuperFast cruise ship. Bimini.

Future enhancements of the port will include permanent The construction of the new 300-room luxury marina hotel
facilities for the Customs and Immigration and a new beach is underway and on track to open in mid 2015. The hotel
experience which will offer a variety of water sports, craft amenities will include restaurants, a lobby piano bar, a
market, restaurants and beach club to the guests. In addition, rooftop pool, bar and nightclub/lounge and a state-of-the art
the team expanded its cruise services in the fourth quarter of spa and fitness centre. There will be a meeting space for up
2014, with new 2-night and 3-night cruise packages from Port to 400 guests, a private gaming salon and high end designer
Miami to complement its existing one-way cruises between retail shops. Each standard room will offer guests expansive
Miami and Bimini. The Bimini SuperFast singlehandedly views of Bimini Lagoon and direct access to Resorts World
transported over 64,000 visitors to Bimini in 2014, matching Casino.
the islands annual overall tourist arrival figures of previous
years prior to the advent of its service.
RESORTS WORLD LAS VEGAS

www.rwlasvegas.com
The USD4 billion innovative, integrated resort will create tens of thousands of jobs in the United States and be a premier
property on the Las Vegas Strip. The Chinese-themed development will include 3,500 hotel rooms in three hotels, a world-class
casino, food and beverage, retail outlets, a top tier nightlife venue and numerous entertainment options.
The site where Resorts World Las Vegas will be constructed was acquired from Boyd Gaming Corporation in 2013 for
USD350 million and includes extensive site work that will be incorporated into
Resorts World Las Vegas. Building permits have been renewed and
the development agreement with Clark County is being finalised.
The resort is expected to open in mid 2018.
1. Artist impression of Resorts World Las Vegas.

GENTING PLANTATIONS
www.gentingplantations.com
Genting Plantations has a total planted area of 128,263 hectares, comprising 59,255 hectares in Malaysia
and 69,008 hectares in Indonesia. It owns seven oil mills in Malaysia and two in Indonesia with a total
milling capacity of 405 metric tonnes per hour. Other business activities include property development and
biotechnology research to apply genomics to increase crop productivity and sustainability.
Genting Plantations performed well in 2014, despite the

volatile crude palm oil (CPO) prices which were influenced
by a bumper supply of soybean production, a crash in
crude mineral oil prices and softer palm oil demand from
major consumer markets such as China. CPO prices were
also affected by extreme weather conditions that occurred
3
in Peninsular Malaysia, ranging from a drought in the early
months to heavy monsoon rains that caused severe flooding
at year-end.
Genting Indah Oil Mill was recognised by the Malaysian
Although palm kernel (PK) prices declined sharply in the Palm Oil Board with the Malaysian Palm Oil Industry
latter part of 2014, the downtrend was mitigated by a bullish Awards 2013/2014 for the highest OER category. This
price surge during the early months due to the tight supply acknowledgement is a good testimony that many initiatives
of global lauric oils in the wake of Typhoon Haiyan which implemented at Genting Plantations to enhance operational
affected the production of coconut oil in the Philippines. As excellence are being recognised by the palm oil industry.
a result, the overall achieved average palm kernel price was
26% higher in 2014 than 2013. In February 2014, Genting Plantations completed the
acquisition of SPC Biodiesel Sdn Bhd for RM33 million. SPC
A total of 1.66 million metric tonnes (MT) of fresh Biodiesel owns a biodesel plant of 100,000 MT per annum
fruit bunches (FFB) were produced in 2014 (2013: capacity in Palm Oil Industrial Cluster, Lahad Datu in Sabah,
1.52 million MT), comprising 1.35 million MT of FFB making it the second bio-diesel plant to be acquired, after
produced by its plantation estates in Malaysia and 0.31 the purchase of its first plant of 200,000 MT per annum
million MT of FFB in Indonesia. A weather-induced decline capacity in mid-2011.
in production from Genting Plantations estates in Peninsular
Malaysia was mitigated by increased output from its Sabah Our team continued to adopt innovative solutions in 2014
estates, driven by an expansion in yields. Overall FFB yield of to improve mechanisation of key processes to reduce labour
23.5 MT/hectare was achieved in Malaysia in 2014 (2013: dependence. These solutions included the use of motorised
23.3 MT/hectare), despite the less favourable weather cutters for harvesting, bins for crop evacuation, mechanically-
conditions. The oil extraction rate (OER) achieved by our assisted spraying application, mechanically-assisted fertiliser
Groups Malaysian oil mills also increased in 2014, reaching application, mechanically-assisted collection and in-house
an all-time high of 21.8% against 21.2% in 2013. customised fabricated equipment.
2. Genting Tanah Merah Estate, Johor.

3. Genting Jambongan Oil Mill is an automated oil mill and the Groups
first zero discharge oil mill.

1 2 3
Complementing the mechanisation thrust is the constant Genting Plantations operations in Indonesia reported a
commitment to apply the best practices in agriculture. strong performance in 2014, mainly attributable to higher
Two more Genting estates in Malaysia were certified to crop production, improved operational efficiencies and
the Malaysian Palm Oil Boards Code of Good Agricultural stronger PK prices.
Practice. With that, more than 90% of Genting estates in
Malaysia have secured certification of best practices. Total FFB production from the estates in Indonesia grew by
66% year-on-year to reach over 307,000 MT in 2014, as
The commissioning of Genting Jambongan Oil Mill in 2014 more planted areas were brought into harvesting and existing
set a new benchmark in eco-friendly processing practices. mature areas progressed into higher yielding brackets.
The 20 MT/hour oil mill is the first mill in Malaysia with zero
waste discharge, an achievement made possible through The increase in sizeable newly mature areas diluted the
specially-designed green features capable of reducing overall FFB yield to 11.7 MT/ha in 2014 (2013: 13.8 MT/
effluent generation and converting all mill wastes into ha). Nevertheless, oil extraction rate improved to 24.1% in
biofertiliser. 2014 (2013: 23.9%).
Genting Plantations other oil mills in Malaysia have also During the year, our team focused on addressing outstanding
maintained their certification to the leading national matters related to Roundtable on Sustainable Palm Oil
and international standards, namely ISO 14001:2004 requirements and on other stakeholder engagement efforts
Environmental Management System, OHSAS 18001:2007 at the local level, plantation development activities slowed
Occupational Health and Safety Management System, down somewhat. As a result, total planted area comprising
MS 1722:2011, ISO 9001:2008 Quality Management nucleus and plasma grew a modest 6% in 2014.
System, and MPOB Code of Good Milling Practice. Genting
Jambongan Oil Mill is in the process of securing the relevant Construction of a new oil mill in Kalimantan Tengah, Indonesia
certifications. which will be Genting Plantations second in Kalimantan
Tengah and third in Indonesia, progressed further in 2014
and is on track to be completed by 2016.
4 5 6
1-3. Mechanisation systems implemented by Genting Plantations to 4&5. Mill automation system in operation.
reduce labour dependency include harvesting with motorised cutters, 6. Nursery at Lamunti Estates, Kalimantan Tengah.
mechanically-assisted fertiliser application and FFB evacuation.

7
10
GENTING PROPERTY JOHOR PREMIUM OUTLETS

www.johorpremiumoutlets.com
The Malaysian housing and property market was mildly
positive overall in 2014, largely driven by local demand. Johor Premium Outlets, 50% owned by Genting Plantations,
Stricter bank lending criteria and higher construction costs continued to achieve positive growth in 2014. Since its
were among the challenges that property developers had to opening in 2011, it has become a major shopping destination,
contend with during the year. attracting millions of locals and international visitors. Johor
Premium Outlets is a collection of 130 designer and brand
Notwithstanding these external challenges, the Property outlets featuring savings of 25% to 65% every day.
Division performed commendably, registering significant
improvements in revenue and earnings. Genting Indahpura, Located at the intersection of the North-South Expressway
its flagship development in Kulaijaya remained its and the Second Link Expressway, it is highly accessible to
largest revenue contributor with total sales achieved of all traffic going to and from Johor and Singapore. It is about
RM304.2 million in 2014. The better performance was an hours drive from the city of Singapore, about 3 hours
attributable mainly to higher sales of land along with sustained from Kuala Lumpur and only a short distance from Senai
demand for new property offerings in the commercial, International Airport.
residential and industrial properties. Genting Pura Kencana
in Sri Gading, Batu Pahat, Johor recorded RM61.3 million
in sales, mainly derived from commercial and residential
properties.
7. Johor Premium Outlets. 9. Double-storey link bungalows at Genting Pura Kencana, Johor.
8. 2.5-storey link bungalows at Raintree Residences, Genting Indahpura, 10. Club House at Genting Pura Kencana, Johor.
Johor.

BIOTECHNOLOGY
www.acgt.com
Our biotechnology division comprises ACGT Sdn Bhd (ACGT) and its sister company, Genting Green Tech Sdn Bhd (GGT).
1 2
ACGT is a world-class agriculture biotechnology company Other products in ACGTs commercialisation initiatives
that uses genomic innovations to develop solutions which include environment-friendly bio-fertilisers for oil palm. These
can yield better food, chemicals and fuel and realise the bio-fertilisers contain plant growth-promoting microbes
Gasoline TreeTM vision. After having successfully completed which encourage plant growth by increasing the availability
sequencing three genomes, namely two oil-bearing plants of primary nutrients and boost its natural immunity system
- the oil palm and jatropha and Ganoderma boninense, the to increase its tolerance to diseases. It is envisaged such
fungal causal agent of basal stem rot disease fatal to oil palm. products will pave the way to a more sustainable way of oil
ACGTs research & development (R&D) programme have palm cultivation.
developed and created ACGTs Titanium Platform Technology,
the industrys most-complete oil palm reference genome. ACGT is continuously researching to realise The Gasoline
Tree vision, which sees the use of non-food crops as
ACGT, through its intensified R&D activities, has successfully a primary source to produce oil or biomass, which can be
identified DNA markers related to oil palm yield potential converted to fuel.
and other traits. Extensive field trials are being conducted
by internal and external partners to validate the reliability ACGTs sister company GGT, which is collaborating with The
and consistency of these markers. These developments Department of Agriculture Sabah on Joint Marker Assisted Oil
have enabled ACGT to be a step closer towards realising its Palm Breeding Programme, has progressed well in 2014 and
commercialisation plan. continues to show promising results.
The successes in R&D works and the ACGT - DuPont Global The GGT - ACGT - IJM Plantations Berhads High Yielding Oil
Collaboratory Research Agreement signed in December 2012 Palm project is geared towards identifying and validating oil
have helped ACGT to innovate and advance the development palm yield markers using DNA markers mined from ACGTs
of superior oil palm planting materials. The collaboration with Titanium Platform Technology. This project is progressing
DuPont Pioneer has allowed ACGT to select, adapt and be well with field planting on a 5-hectare trial area scheduled
trained on DuPont Pioneers technology to create solutions in 2015.
answering the oil palm industrys demands for planting
materials with higher yield characteristics. DuPont Pioneer is Towards the end of the year, a new research station in
part of DuPont, a world leader in science with 200 years of Sandakan, Sabah commenced operations. This complements
proven track record. the oil palm breeding efforts at its first research station in
Tangkak, Johor. Both stations are progressing well using
ACGT continued to expand its Ganoderma isolates collection Marker Assisted Breeding innovations in GGTs superior oil
and field sampling efforts in 2014 to enable the development palm breeding and seed production programme.
of diagnostic kits that can rapidly detect and identify
Ganoderma in the field. Ganoderma causes basal stem rot, ACGT and GGT were both accorded BioNexus status by the
a fatal oil palm disease. Malaysian Biotechnology Corporation in 2006 and 2009
respectively.
ACGT is also formulating several types of Ganoderma
control agents. These Ganoderma control agents offer
environmentally-friendly ways to contain the spread of
Ganoderma in oil palm estates. It will help oil palm plantation
operators to safeguard the economic value of their assets. 1 & 2. Research & development activities at ACGT Laboratories.

GENTING ENERGY
www.gentingenergy.com
Genting Energy comprises the power and oil & gas business activities of the Group.
3 4 5
POWER DIVISION continued to recognise revenue and profit on the construction

contracts during the ongoing construction period of the
Genting Power Holdings Limited (Genting Power) spearheads Banten power plant in 2014. The power plant will operate
the power business of the Group. Its operating assets comprise on a 25-year power purchase agreement on a build-operate-
gas-fired, coal-fired and wind power plants in China and India, transfer basis. Its project company, PT Lestari Banten Energi
with a total net operating capacity of 714 MW. is 95% indirectly owned by Genting Power and 5% owned by
a local partner PT Hero Inti Pratama.
In China, Genting Power via its indirect subsidiary Fujian
Electric (Hong Kong) LDC (FEHK), completed on 10 July Genting Oil & Gas Limited (Genting Oil & Gas) spearheads
2014, the divestment of its 51% interest in Fujian Pacific the oil and gas business of the Group. In China, Genting Oil
Electric Company Limited (FPE) to State Development & & Gass wholly owned subsidiary, Genting CDX Singapore
Investment Corporation Power Holdings Co Ltd (SDIC), a Pte Ltd, acquired 57% working interest in the Petroleum
China state-owned enterprise that has a portfolio of power Contract for the petroleum exploration, development and
plants of over 10,000MW. Following the divestment, FEHK production activities in Chengdaoxi Block (CDX) from
has 49% interest in FPE, which owns and operates the Energy Development Corporation (China) Inc in July 2014.
724MW coal-fired Meizhou Wan power plant (Phase 1) in CDX is in the shallow waters of Bohai Bay in China, covering
Putian, China. an area of 29 square kilometres that has consistently
produced more than 8,000 barrels of oil per day. Chinas
Genting Power is developing a new 2 x 1,000MW ultra- Sinopec Group is the partner of this joint venture. Bohai Bay
supercritical coal-fired power plant in Putian with SDIC. contains significant oil and gas reserves and provides much
This new power plant, when completed in the second half of of Chinas offshore production.
2016, will add another 980MW of net attributable capacity
to Genting Powers portfolio. In Indonesia, the Genting Oil & Gas team continues to
undertake onshore oil and gas exploration in the Kasuri
In India, Genting Power has significant interests in three Production Sharing Contract in West Papua, Indonesia. Two
power plants, namely: wells, Kido-1XST and Asap-4XST were tested in 2014 and
30% owned 368MW Lanco Kondapalli power plant both wells flowed with not only gas but also oil making
(Phase I), 366MW Phase II power plant and a 732MW them the first discoveries of oil in the Bintuni Basin. The
Phase III power plant that is yet to be commissioned; drilling of two new exploration wells (Foroda-1XST and Bedidi
41.55% owned 113MW Lanco Tanjore power plant in Deep-1X) commenced in 2014. Two new seismic surveys
Tamil Nadu and were conducted, namely the Merah 3D seismic survey
100% owned 91.8MW Jangi wind farm in Gujarat. covering 140 square kilometres and the Kido-Foroda 3D
seismic survey covering over 165 square kilometres. These
In Indonesia, the construction of the 660MW coal-fired 3D seismic surveys will help to determine the areas of oil
power plant in Banten, Java is progressing well and targeting and gas accumulation in their respective structures and to
for commercial operations in early 2017. Genting Power facilitate planning for the development stage of the block.
3. Artist impression of Banten power plant in Java, Indonesia. 5. Onshore oil & gas exploration activities in the Kasuri PSC in West
4. Offshore oil production activities in the CDX Petroleum Contract in Papua, Indonesia.
Bohai Bay, China.

AWARDS AND ACCOLADES
GENTING BERHAD RESORTS WORLD CASINO NEW YORK CITY (RWNYC)/
The Most Valuable Brands of 2014 by GENTING MALAYSIA
Asia Entrepreneur Alliance Worldwide Regional Economic Impact Award 2014 by Queens Chamber of
Malaysia Top 10 Commerce Edward Farrell, former President of RWNYC and
current President of Resorts World Miami
GENTING PLANTATIONS Top Women in Business Award 2014 by Queen Courier
National Occupational Safety & Health Excellence Award Missy Lawrence, Senior Vice President of Marketing, RWNYC
for the category of Agriculture
Top Leadership Award by Center for the Women of New York
Malaysian Palm Oil Industry Awards Michelle Stoddart, Director of Public Relations and
for the category of Highest Oil Extraction Rate Community Development, RWNYC
Malaysia Investor Relations Awards 2013/2014 RESORTS WORLD SENTOSA/GENTING SINGAPORE

25th Annual Travel Trade Gazette (TTG) Travel Awards 2014
Best Company for Investor Relations (Mid - Cap),
Best Integrated Resort - Resorts World Sentosa
Best IR Professional (Mid - Cap) and Quality of (for fourth consecutive year)
One-on-One Meetings
2014 China Travel & Meetings Industry Awards
GENTING ENERGY Best Integrated Resort of the Year
Infrastructure and Project Finance Deal of
the Year Asia-Pacific - 2014 2014 The 9th China Tourism Golden Awards
by The Banker (Financial Times) Best Family Destination
Singapore Experience Awards 2014

Best Project Financing 2014 by Finance Asia
Jol Robuchon Restaurant - Best Dining Experience
RESORTS WORLD GENTING/GENTING MALAYSIA Ocean Dreams programme, S.E.A. Aquarium -

Putra Brand Awards 2014 by Association of Best Learning & Travel Experience
Accredited Advertising Agents Malaysia
Resorts World Genting - Silver Winner in Entertainment Category Ocean Gallery, S.E.A. Aquarium - Business Event Venue of the Year
Malaysia International Gourmet Festival (MIGF) 2014 Cupids World of Happiness - Best Singapore Experience Story
(Digital)
by Tourism Malaysia
Resorts World Genting Most Outstanding Marketing of May Day Model Partnership Awards 2014 Resorts World Sentosa
the Festival (Winner), Best Marketer Restaurant
(Gold Winner Judges Choice), Most Creative Restaurant Station at SCORE Appreciation Awards 2014
Taste MIGF (Gold Winner Peoples Choice & Judges Choice) Champion of Hope, Employer Appreciation Award, Model Supervisor Award
Imperial Rama & The Olive Most Innovative Cuisine at Taste MIGF Building & Construction Authority Green Mark Gold Plus Award
(Gold Winner Peoples Choice), Most Outstanding Mains Hotel Michael & Crockfords Tower
Fish / Poultry (Gold Winner Diners Choice)
Community Chest Awards 2014
Corporate Bronze Award Resorts World Sentosa
LTITUDE & The Olive Most Outstanding Canaps (Gold Winner
Diners Choice), Most Outstanding Service Team (Gold Winner Workplace Safety and Health Awards 2014
Diners Choice), Most Outstanding Dining Experience Equarius Hotel and Beach Villas - Hotel Sector Innovation Award,
(Gold Winner Diners Choice)
TripAdvisor 2014 Certificate of Excellence
Imperial Rama Most Popular Restaurant at the VIP Gala Launch Resorts World Sentosa & Universal Studios Singapore
Portions Sold (Gold Winner), Taste Sovereigns Collected
TripAdvisor Travellers Choice Award
(Gold Winner), Most Outstanding Soup
Universal Studios Singapore - Top Amusement Park in Asia
(Gold Winner Diners Choice) S.E.A. Aquarium - Top Ten Aquarium in Asia
LTITUDE Best Restaurant Ambience (Gold Winner), Most AsiaOne Peoples Choice Awards 2014
Oustanding Starter Warm (Gold Winner Diners Choice), Universal Studios Singapore - Best Attraction
Most Outstanding Dessert (Gold Winner Diners Choice)
2014 World Luxury Spa Awards
The Olive Golden Cauldron Awards (Gold Winner), ESPA at Resorts World Sentosa -
Best Luxury Wellness Spa (Country Winner),
Best Use of the Festival Theme (Gold Winner Diners Choice),
Best Luxury Destination Spa (Asia Continent Winner)
Most Outstanding Starter Cold (Gold Winner Diners Choice),
Most Outstanding Wine Pairing [Sommelier] (Gold Winner Singapore Tatler Best of Singapore 2014
Diners Choice), Most Creative Menu of the Festival Best Spa Award, ESPA at Resorts World Sentosa
(Gold Winner Judges Choice)
Singapore Tatlers Best Restaurant Awards 2014
RESORTS WORLD MIAMI/GENTING MALAYSIA Jol Robuchon Restaurant, LAtelier de Jol Robuchon, Forest,
2014 Top New or Renovated Meeting Site Award Palio, Ocean Restaurant, Osia
by ConventionSouth Hilton Miami Downtown
The Peak Selections:
Gourmet & Travel G Restaurant Awards 2014
Jol Robuchon Restaurant & LAtelier de Jol Robuchon -
38 GENTING BERHAD Annual Report 2014 Award of Excellence
SUSTAINABILITY REPORT

SUSTAINABILITY REPORT
We recognise the importance of developing our businesses globally in a sustainable and
responsible manner. Our focus to achieve sustainable development is on four key areas, namely
Environment, Marketplace, Workplace and Community.
1 2
Environment Resorts World Sentosa adheres to Singapores Energy

Conservation Act which stipulates that companies which
Protection and preservation of the environment is an integral consume an energy level of 15GWh or higher are required
part of our corporate philosophy and business policy. We to implement a three-pronged approach to reduce the
are committed to maintain a sustainable balance between environmental impact. Resorts World Sentosa has adopted
the development and conservation of natural resources. the approaches which include appointing an energy manager,
All Gentings projects and operations are carefully planned monitoring and reporting energy usage and greenhouse
and designed to be sustainable developments through emissions, and submitting energy efficiency plans to the
continuous improvement, innovation and implementation government. It has a dedicated maintenance team to track
of green technologies and analyse its energy and
and environmentally water consumption trends
sustainable practices. and perform monthly
internal energy and water
Eco-friendly measures are audits to identify key
implemented to reduce areas for improvement.
energy consumption and
minimise environmental Various energy saving
pollution. projects have been
implemented in 2014
Genting Malaysia including the heat
continued to monitor recovery system project
3 4
and improve its energy to help reduce gas
savings and CO2 reduction consumption, the capture
initiatives in 2014, that have been implemented at Resorts of surface run-off rainwater and drainage water in the eco-
World Genting since 2009. These initiatives included the lagoons and underground water storage tanks to reduce
migration from using fuel to electric energy, conventional reliance on potable water. The water collected is treated before
lighting to energy efficient lighting, conventional pumps to it is used for irrigation and fire-fighting. In 2014, a total of
energy efficient pumps, as well as the implementation of a 731,280m3 of rainwater was collected for recycling which
heat recovery system and tree planting programme. Practising was equivalent to 293 Olympic-sized swimming pools. These
a Go Green policy, all hotels in Resorts World Genting have efforts have reduced non-electrical energy consumption in
reduced the provision of newspapers to guest rooms with Resorts World Sentosa by about 25% in 2014. The electrical
effect from May 2014 and newspapers will only be made energy conservation initiatives yielded a saving of 11.2GWh
available upon request. This has resulted in a 73% reduction (4.4%) equivalent to the energy consumption of 2,440 units
in newspaper consumption. of 4-room flats in Singapore for a full year. The bulk of the
electrical energy savings came from the retrofitting of the
Genting Singapore has documented its sustainability journey cooling tower, changing of fluorescent tubes and halogen
in a sustainability report, which can be downloaded from bulbs to LED in strategic areas, eliminating energy-intensive
www.gentingsingapore.com. gas boilers and producing hot water with rejected heat
recovered from the air-cooled condensers.
1. Solar panel on the rooftop of the Revenge of the Mummy attraction in 2. Together with Conservation International, Resorts World Sentosa
Universal Studios Singapore. launched a manta ray tagging project in Indonesia.
3&4. More greenery at Resort World Genting, as a result of its green
initiatives.

More recycling areas and strategically placed recycling bins In Miami, Resorts World Miami is committed to prevent
were added around the premises of Resorts World Sentosa and minimise pollution, manage waste responsibly and
to encourage its guests and employees to recycle. A manta consistently monitor and improve environmental performance.
ray tagging project was launched in collaboration with
Conservation International to gather information about the In the Bahamas, Resorts World Bimini team works closely with
species behavioural and migratory patterns. Overfishing the community stakeholders to ensure that best practices are
poses the greatest threat to these species, with manta gill followed at every stage of development. Efforts were taken to
plates fetching high prices in international markets and being certify its compliance with the laws and regulations during
traded in significant volumes in recent years. The project was the construction of the port at Resorts World Bimini and the
executed across Indonesia to locate manta ray populations expansion of the runway at the South Bimini Airport in 2014,
in areas such as Bali, Raja Ampat, Berau and Komodo. as well as the on-going construction of the luxury marina
Information collected from the tags will be shared with the hotel. Additionally, the team spearheaded several clean-
Indonesian Ministry of Marine Affairs and Fisheries to help up campaigns and placed waste bins strategically along the
the Indonesian government better develop conservation island to ensure that the recycling efforts are sustainable.
policies for manta rays. The team also donated heavy duty equipment to the Bimini
Township Cleanup Committee to assist with their efforts.
Genting Singapore collaborated with Nanyang Technological
University on coral research to study on coral settlement and Genting UK has implemented energy efficiency strategies such
growth. Marine conservation awareness was given a boost as the use of energy efficient electrical devices for lighting
with the Ocean Art Charity exhibition where Singapores and heating as well as the use of sustainable materials. The
young budding artists were invited to submit their best new developments in Genting UK properties are equipped
marine-themed visual artwork for charity. 16 artworks were with state-of-the-art building management control systems
selected by a panel of distinguished judges for display at that are programmed to deliver sophisticated reports to
the S.E.A Aquarium in March 2014. Through an auction of ensure maximum energy is optimised. The Genting UK team
the artwork, SGD77,630 was raised for The Business Times is developing a carbon footprint calculator to monitor the
Budding Artists Fund and The Straits Times School Pocket energy efficiency of all future developments. In 2014, the
Money Fund. teams efforts to reduce electrical and gas consumption,
which together accounted for the bulk of carbon emissions
In the US, Resorts World Casino New York City manages within its casino properties, resulted in a reduction of CO2
its waste responsibly by partnering with a fuel company emissions by 4% or about 630 tonnes.
that recycles used cooking oil to provide clean vegetable
oil feedstock for biodiesel. In an effort to highlight the The amount of refuse sent to the landfill were reduced in
environmental diversity and wildlife of the surrounding 2014, by working closely with the contractors, monitoring
community, a photography and video exhibit entitled Hidden monthly landfill costs and adjusting the number of refuse
in Plain Sight: The Wonders of Jamaica Bay was featured collections. Cardboard balers have been installed throughout
in the casinos Red Wall Art Gallery. The three-part series its properties, where viable, resulting in improved recycling
showcased Jamaica Bay, New York Citys largest open space performance, reduced costs and further reducing the carbon
which sustains a rich and diverse ecosystem that has more impact. Close to 592 tonnes of materials were diverted from
than 100 different kinds of native saltwater fish and over landfill and sent for recycling in 2014.
335 species of birds. Jamaica Bay is located within walking
distance of the casino property.
5 6
5&6. Recycling corners at Resorts World Sentosa.

SUSTAINABILITY REPORT (contd)
1 2 3
Resorts World Birmingham, currently under construction, has covers food, feed, chemical and other applications. The
been designed to meet the Building Research Establishment biodiesel plants in Lahad Datu, Sabah are also ISCC EU
Environmental Assessment Method (BREEAM). BREEAM certified. The ISCC system is one of the most progressive
sets the standard for best practice in sustainability standards covering aspects
sustainable building design, construction such as reduction of GHG emissions,
and operation and has become one of the sustainable use of land, protection of
most comprehensive and widely recognised biodiversity and social accountability.
measures of a buildings environmental
performance. Our Malaysian oil mills underwent annual
ISCC re-certification. Genting Jambongan
Non-essential lights at Gentings corporate Oil Mill, our newest oil mill completed in
offices and key business properties such as 2014, became the latest addition to the
signboards, building faade spotlights and 4 list of ISCC-certified units. More notably,
other electrical apparatus were switched off Genting Jambongan Oil Mills status as the
for one hour on 29 March 2014 in support first such facility in the country to have a
of Earth Hour. Various outdoor and fun fully zero discharge system with an organic
awareness activities were held at the Resorts composting plant, has since earned the mill
World properties to raise awareness of global the recognition of being selected as ISCCs
climate change and to conserve energy. case study for Malaysia.
Genting Plantations has been a member of As at the end of 2014, all but two of
The Roundtable on Sustainable Palm Oil Genting Plantations oil palm estates
(RSPO) since its formal establishment 5 in Malaysia were certified to Malaysian
in 2004. Genting Plantations is among the Palm Oil Boards (MPOB) Code of Good
first plantation companies in Malaysia to secure the Malaysia Agricultural Practice, while MPOB Code of Good Milling
Sustainable Palm Oil certification after Genting Sabapalm Oil Practice certification had been secured by all our Malaysian
Mill and Genting Sabapalm Estate were successfully certified oil mills, with the exception of the newly completed Genting
to the newly-established scheme. Jambongan Oil Mill at the end of 2014.
Processed and procedures have been established in line with The environmental, health and safety, and quality management
the principles of RSPO and other international and national systems implemented at our Malaysian oil mills are certified
sustainability standards. These include environmental and to global standards, such as ISO 14001:2004 Environmental
social management procedures, as well as standard operating Management System, OHSAS 18001:2007 Occupational
procedures for new land development, where developments are Health and Safety Management System and ISO 9001:2008
required to be preceded and guided by external independent Quality Management System.
assessments on environmental aspects and impacts for high
conservation values, social & environmental impact, land use The areas within Genting Plantations landholdings that are
change and carbon stock. assessed as high conservation values are set aside and
left to thrive in their natural states. This commitment to
All of Genting Plantations oil mills and estates in Malaysia preserve high value forests is a practice that goes back to
have been fully certified to the International Sustainability our plantations early days, as evidenced in the Baha and
and Carbon Certification system, encompassing ISCC EU, Bahagia wildlife sanctuaries maintained within the Tenegang
which is used to demonstrate sustainability and traceability group of estates in Sabah.
of biomass and bioenergy feedstock, and ISCC PLUS, which
1 Good establishment of soft grasses and cover crops to reduce soil erosion. 4&5. Integrated pest management to reduce use of pesticides.
2&3. Genting Sabapalm Estate and Genting Sabapalm Oil Mill the first oil mill
and estate to secure the Malaysian Sustainable Palm Oil certification.

Relevant experts like the local wildlife authorities are instituted, help to ensure that the final discharge quality meets
called in to assist in incidences where endangered, rare strict safety standards. Wherever suitable, treated effluents
or threatened species strayed into our plantations areas, are channelled to the fields as manure and for land irrigation.
to ensure appropriate steps are taken. Along the Tenegang The presence of migratory birds at the effluent ponds attests
Besar River, one of the main tributaries of the Kinabatangan to the quality and safety standards that are being achieved.
region in Sabah and home to one of the worlds largest and Substitution of chemical fertilisers with nutrient-rich organic
most diverse floodplains, Genting Plantations continued its alternatives such as empty fruit bunches and treated palm oil
reforestation works over an allocated 86.5-hectare area. mill effluents are also common practice in our estates.
The project is part of a larger WWF-initiated forest corridor
programme back in 1999, of which Genting Plantations was Genting Plantations is moving towards a lower minimising
the first plantation company to join. carbon footprint in the future by investing in new technologies,
such as milling innovations for emission reduction, methane
Difficult soils such as peat are managed in accordance with avoidance and renewable energy use. One example is our
Genting Plantations Oil Palm Manual. Future peat plantings oil mill in Pulau Jambongan that features a zero discharge
are to be avoided. For pre-existing plantings on peat, oil mill with a composting plant that converts by-products
appropriate management plans to prevent peat subsidence from the mill into biofertilisers for the needs of the supplying
and to improve yields are in place. These include effective estate.
water management and appropriate nutrient management.
Community
Genting Plantations practises a zero burning policy and
bio-mass recycling. All types of waste products, including We seek to build mutually beneficial relationships with the
domestic waste, agricultural waste, biomass or by-products communities where we operate and with the society at large
generated by operating units if not recycled, are required to through active engagement.
be disposed off safely and appropriately. Biomass is applied
as fertiliser in the fields and as renewable fuel for oil mill The Genting Group contributes regularly in cash and in-
boilers for power generation. kind to various charities, foundations and sectors of the
community to support the underprivileged and the less
In controlling pests, an integrated pest management approach fortunate, reaching out to different sectors of the community,
involving the deployment of biological control agents is irrespective of race, creed or religion.
favoured over the use of pesticides. The introduction of
barn owls in estates to suppress the rat population and the Genting Malaysia supports the initiatives of NGO-run
placement of pheromone traps to capture rhinoceros beetles health facilities which offer therapy, training, treatment,
are among methods that have proven effective over the years rehabilitation and care for patients. We have mobilised aid
in reducing pest damage to crops. in the form of basic and essential household items, school
uniforms and school supplies to the flood victims in the East
Advanced effluent treatment systems installed at our oil mills Coast of Malaysia to provide humanitarian relief.
along with performance improvement measures continuously
5. Genting Singapore was the official sponsor and partner for ChildAid Asia, a charity concert showcasing young talents that was held in Tokyo in January 2014.

1 2 3
During the year, Genting Malaysia organised a series of Council Member Eric Ulrich and the New Hamilton Beach
corporate social responsibility (CSR) events for the Civic Association to rebuild the Hamilton Beach Playground
underprivileged such as the Mid-Autumn celebration at Chin at a cost of USD40,000. The park had remained unusable
Swee Caves Temple for 200 children from various homes, for years after being destroyed by Hurricane Sandy. Other
Chinese New Year donations which charitable efforts included hosting the
benefitted 25 charitable homes and an Mid Winter Taste fundraiser which raised
annual Christmas party at Resorts World USD100,000 for City Harvest to help feed
Genting for 400 underprivileged children the hungry poor as well as supporting the
from 12 homes who received with over Swim Strong Foundation, the Boys & Girls
RM30,000 worth of Christmas presents. Club of Metro Queens and Jamaica YMCA.
Genting Malaysia distributed sundries
which were donated by its employees Resorts World Casino New York City
to Rumah Orang Tua Bentong and 4 attracts nearly 10 million visitors each
Sinthamani Divine Life Ashram, hosted year which helped to boost tourism in
200 underprivileged children for the charity the borough of Queens. The New York City
preview of Sesame Street musical at Resorts team partnered with the Queens Economic
World Genting, sponsored basic provisions Development Corporation to advertise the
for the poor in the district of Kedawang in borough as a destination, marketing the top
Langkawi for Hari Raya as well as organised events and cultural organisations.
the 1st Langkawi Geopark Cruise with Tropical
Charters for 49 disabled children from SMK Resorts World Miami supported several non-
Puchong Utama (1). profit organisations and donated hundreds of
backpacks and school supplies to elementary
Genting Singapore donated more than 5 school children in underfunded areas. Food
SGD2.2 million in cash and in-kind to over including turkey was handed to families in
100 charities and implemented CSR need during the Thanksgiving holiday. Our
programmes that impacted over 9,000 less privileged team also partnered with the Miami Dade Police Department
children, youths and seniors in 2014, which was more than to bring smiles to hundreds of children by donating Christmas
double its impact on the community compared to 2013. toys to the underprivileged and homeless children.
Resorts World Sentosa also committed SGD1 million in cash Resorts World Bimini supported community-building activities
donation and in-kind sponsorships to support the ComChest by donating hundreds of gallons of paint to the islands
Care & Share Charity Show and Charity Gala Dinner at the residents for the Most Beautiful House and Yard competition,
resort. Both events raised about SGD9 million for over 80 a back hoe and dump truck to the Bimini Township Cleanup
charities under The Community Chest of Singapore which Committee to assist with efforts to beautify the island, gifts of
have impacted more than 300,000 lives. RWS celebrity toys and turkeys to the islands children and residents and the
chefs Jol Robuchon and Scott Webster lent their support by establishment of a Heritage Trail to promote local tourism.
preparing a special gourmet menu for selected guests at the
Charity Gala Dinner. The Clubs and Casinos in Genting UK organised themed
party nights to raise money for charity. Staff of Genting Club
Resorts World Casino New York City donated over USD300,000 Stoke wore wigs to raise money for CLIC Sargent, a charity
to charitable causes in 2014. Its senior management team to help young people cope with cancer and Genting Club
partnered with New York State Senator Joseph Addabbo, New Southampton organised a pink theme in aid of Breast Cancer
York State Assembly member Phil Goldfeder, New York City Research.
1 Rebuilding the Hamilton Beach Playground which was destroyed during 3. Bimini residents painted buildings with paint supplies donated by Resorts
Hurricane Sandy. World Bimini.
2. Toy-giveaway during Christmas for the children of the Island. 4&5. Genting UK staff participating in various sporting events to raise funds
for charities.

6 7
in this event aimed to promote awareness on nature and

conservation among the youths. The We Care volunteers
took part in the annual beach-cleaning at MaDaerah Turtle
Sanctuary in Kemaman, an initiative organised by the
Terengganu Fisheries department in Malaysia. The volunteers
also assisted during the East Coast floods to clean-up
schools and residential areas, besides contributing their own
donations to the flood victims.
All employees of Resorts World Sentosa are encouraged to

volunteer for charitable causes which qualify them for two
days of time off for volunteer work. With the senior
8 management team leading the way, the volunteers hosted
children at Resorts World Sentosas numerous attractions,
Genting Plantations is committed to the development of conducted arts and crafts sessions with beneficiaries, paid
plantations under the plasma scheme, as the assistance home visits, raised funds as well as granted wishes. Overall,
programme has proven beneficial for the wellbeing of local Resorts World Sentosa volunteers clocked close to 7,700
small landholders in Indonesia. More plasma developments volunteer hours in 2014, an increase of 40% compared to
were carried out in 2014, complemented by ongoing efforts 2013. Initiatives included raising over SGD22,000 for the
to enhance goodwill and cooperation with plasma farmers local Adopt-A-Block and aRWSome Wishes programmes.
through regular consultative meetings.
Employees and family members of Resorts World Casino
Our presence in the rural interiors provide jobs as well as New York City donated and participated in the American
infrastructures and amenities. The roads and bridges that Cancer Societys Breast Cancer Walk in October 2014. The
are built and maintained as part of Genting Plantations casino also partnered with the American-Italian Cancer
development, have helped to improve accessibility and Foundation by allowing their mobile care unit to provide
connectivity of these remote areas. free mammogram screenings for patrons and employees. Its
employees collected over 6 barrels of coats during winter in
Volunteerism Among Employees its second annual New York Cares Coat Drive and hosted four
American Red Cross blood donation drives.
Gentings community-based projects are implemented by its
employees who volunteer their time and efforts for a good We support sports to encourage a healthy lifestyle, promote
cause. The We Care volunteer teams from Resorts World sports tourism and to foster good ties with the community.
Genting, Resorts World Kijal and Resorts World Langkawi,
the Genting Group Executive Sports Club and Genting In 2014, we supported corporate charity runs such as
volunteers in Wisma Genting, the aRWSome Volunteers Corp the Edge Kuala Lumpur Rat Race and the Bursa Bull Charge
in Singapore and the global volunteer teams from Genting Run in Malaysia in which the runners came from Genting
Energy, Genting UK and Genting US have helped the local Berhad, Genting Malaysia, Genting Plantations and Genting
communities every year. Energy.
The We Care team from Resorts World Genting collaborated Genting Casino Coventry was voted Sponsor of the Year by
with the Ministry of Environment & Natural Resources to Coventry Blaze Ice Hockey Team. One of Genting UKs staff
organise a Getting Back to Nature event at the Awana Genting
was sponsored on a Sahara Trek to raise funds for charity.
Longhouse in 2014. A total of 130 students participated
6. Tan Sri Lim Goh Tong Endowment Fund 2014 7. Genting teams participated in the Bursa Bull Charge Race 2014.
Presentation of scholarship ceremony at Universiti Putra Malaysia. 8. We Care team from Resorts World Genting giving aid to the flood
victims in the East Coast, Malaysia.

1 2 2
Other fundraising sporting events that our employees have collectively funded scholarships for high achieving
participated included the Sue Ryder Charity which provides students, educational seminars, overseas study trips, student
support for people with long term illness, Clatterbridge Cancer leadership activities, universitys research activities and other
Charity, Keyhole Cancer Appeal and St. Basils, a Birmingham education programmes. The activities sponsored by the two
based charity supporting homeless young people. endowment funds included a group study trip to Taiwan, an
accounting student convention, a business students summit,
We support arts and culture. Genting Malaysia sponsored an intervarsity leadership conference and scholarships for
the staging of a state-of-the-art cultural performance Guan high achieving students pursuing agriculture studies.
Yin Pusa A Musical at Istana Budaya Kuala Lumpur. We
preserve our local heritage such as establishing a historical In July 2014, Genting Singapore hosted over 70 students
cultural and tourism centre under the Hulu Selangor from 17 top Asian schools to the first overseas edition of
Municipal Council and supported the fund-raising initiatives the Tsukuba Science Edge, Global Science Link which served
of Badan Warisan Malaysia to preserve heritage buildings and as a catalyst to challenge the boundaries of science and a
sites throughout Malaysia. platform for friendships to be forged across borders.
Genting Singapore partnered with Little Creators, a non- The students pitched their ideas against one another, heard
profit organisation to help to raise funds for underprivileged expert views from renowned speakers and learnt to sell their
children in Japan through ChildAid Asia, Tokyo in January ideas as an enterprise.
2014. ChildAid Asia is a charity concert that showcases the
talents and creativity of 126 children and youths across Asia In the UK, Genting Casino Leicester sponsored prizes for
at the Suntory Hall in Tokyo. Among the audience were 24 top graduates of De Montfort Universitys MSc International
children from the tsunami-affected Fukushima area who were Business Programme.
invited for the event.
Genting Plantations has collaborated with the non-profit
Resorts World Bimini sponsored the inaugural Junior Borneo Child Aid Society to provide funding and assistance
Junkanoo Parade a Bahamian cultural festival in which for the building, upkeep and the running of eight Humana
children express their creativity through music, dance and learning centres in Sabah for underprivileged children, who
costume building. would have otherwise been denied access to basic education
due to distance, poverty or legal status.
In education, we support various schools, higher learning
institutions and universities to enhance the quality and status Genting Plantations regularly extends scholarships to
of education. selected needy students for tertiary studies. Eligible students
from local areas where we operate have been provided
The Tan Sri (Dr.) Lim Goh Tong Endowment Funds, with financial support to pursue studies in agriculture and
established in 2009 for Universiti Putra Malaysia and related disciplines at leading institutions such as Lembaga
Universiti Malayas Faculty of Business and Accountancy Pendidikan Perkebunan in Yogyakarta, Indonesia.
1. Youth performing at Universal Studios Singapores Hollywood Dreams. 2. Students from Japan, Thailand, Brunei and Indonesia gathered in
Parade, as part of their participation in aRWSome Apprenticeship. Resorts World Sentosa in July 2014 for Global Science Link,
an annual event that challenges the boundaries of science.

Genting Plantations had signed a Memorandum of We advocate a safe and engaging workplace. Our business
Understanding with Tunku Abdul Rahman University College properties are accredited with high safety and management
in 2014 to establish an educational course to develop standards.
young talents with the passion and interest in the plantation
industry. All our oil palm mills are certified with OHSAS 18001:2007
and MS 1722:2011 occupational health and safety
The Community Chest, managed by a Board of Trustees for management systems, reinforcing the Groups commitment
which Tan Sri Lim Kok Thay is a founder and permanent to safety in the workplace. Genting Plantations ensure
trustee, continues to support the local vernacular schools that occupational safety and health (OSH) standards
in Malaysia. In 2014, the independent non-for-profit are applied uniformly across all operating centres and
organisation recruited over 200 volunteers across the nation consistency is guided by the industry-specific OSH
to help implement the fundings allocated to 301 schools in Manual and Guidelines. Regular in-house training and
Malaysia with the aim of improving the quality of education of workshops are held to share new developments and
local learning institutions, through improved school facilities. knowledge on OSH-related matters. An OSH Master Plan
that focuses on enhancing safety awareness and accident
Workplace prevention was established with the aim of achieving zero fatal
accidents and reducing lost man days caused by accidents.
The Genting Group is an equal opportunity employer that Various initiatives and programmes have been implemented
embraces diversity in the workplace. We strive to maintain towards realising these goals, including OSH Management
an inclusive work culture that supports diverse talent to Systems, enhancement of Safe Operating Procedures for key
contribute positively to the growth and productivity in line high-risk operational tasks, a contractor safety programme,
with the Groups vision and mission. safety awareness programmes, competency training and risk
assessment training.
Employees form an integral part of Genting and we remain
committed to human resource development. Our global Genting Malaysia and its resort properties are certified with
workforce was about 60,000 as at 31 December 2014 with Sirim QAS International for the Occupational Health and
31% Malaysians comprising Malay (11%), Chinese (16%), Safety Management System (OHSAS 18001:2007) and
Indian (2%) and Others (1%) and the remaining 69% from Environmental Management System (ISO 14001:2004)
other countries including but not limited to Singapore, accreditations. Our teams work proactively with various
Indonesia, China, United Kingdom, United States of America authorities such as the Ministry of Health and the Department
and Bahamas. The male to female employees ratio is 66:34; of Occupational Safety & Health (DOSH) to ensure compliance
with age below 30 (46%), between 30 to 55 (48%) and with occupational safety and health regulations, as well as
above 55 (6%). Social Security Organisation and Road Safety Department of
Malaysia to enhance commuting and road safety awareness in
The diversity of our workforce, especially in the resort and 2014. Safety and health audits are performed regularly and
gaming properties has helped our various operational teams checked for continual improvements. Regular talks are held
to be responsive in its communications and services to guests to educate employees on safety and health issues.
from all over the world.
In the UK, Genting Casino Leith won one of the towns Best
We offer competitive remuneration schemes that are in line Bar None Awards in a scheme that recognises venues that
with industry and market benchmarks and consistent with go the extra mile to show they are well-managed and take
all applicable collective agreements and minimum wage customer safety and the prevention of crime and disorder
policies. seriously.
4 5
3. Employee of the Year Awards 2014. 5. 26th Genting Malaysia Senior Managers Conference 2014.
4. Genting Malaysia employees enjoying many sports activities organised
regularly for them.

1 2
We provide a conducive living environment for our employees. Scholarships are awarded to well-deserving scholars who are
Our integrated resort properties provide employees with assessed on their academic abilities and key qualities that
standard facilities and amenities such cafeterias, free wi-fi would be advantageous for their growth within the Group,
at designated spots, well equipped resource centre, places upon graduation. In 2014, the Genting Malaysia Education
of worship, recreation centres, gymnasium and sports/games Fund committee disbursed RM880,000 in scholarships to
facilities. Social activities, outing trips and award appreciation deserving students pursuing local or overseas studies.
events such as employee of the
month and annual employee Communication channels such
appreciation nite to recognise as internal monthly newsletters,
outstanding and long-serving intranet, internal notice boards,
employees were organised in e-Kiosks and regular meetings
2014. Our plantations operating are provided to keep employees
units have a comprehensive and management up to date.
range of amenities such as
housing, water and electricity In engaging with our people, we
supply, healthcare, places of exercise impartiality, consistency
worship, childcare facilities and and transparency, mutually
other recreational amenities. guided by the relevant Human
Resources handbooks and
We encourage a healthy work-life manuals that clearly set out the
balance among our employees 3 relevant policies, procedures,
through various sports, wellness responsibilities and benefits.
and health activities, blood Orientation programmes are
donation drives, talks, staff trips, celebrations of major organised while on-site induction programmes on job
religious and cultural festivities, annual dinners and self expectations, safety procedures and health aspects are held
improvement workshops. upon the arrival of new workers, particularly foreign workers
to help them adapt to the local culture and work environment.
Conferences and seminars were organised annually to serve
as platforms to share ideas, reinforce key objectives and to Employees are encouraged to participate in professionally-
train and develop our management teams. These seminars conducted training courses to enhance their competencies
included the 26th Genting Malaysia Senior Managers and deepen their work knowledge and skills. At the operating
Conference themed The Future of Gaming, held in the UK unit level, a variety of capacity-building and technical
from 14 to 16 October 2014 and the 33rd Genting Plantations training courses are regularly held for managers and staff.
Management Conference, held in Surabaya, Indonesia from Potential field supervisors have the opportunity to undergo
14 to 17 August 2014. a structured training programme designed to develop their
skills and competencies.
Genting Malaysias HR training & development team, in
collaboration with Genting Centre of Excellence invested In the UK, the annual Genting Staff Attitude Survey
a total of RM4.8 million to implement various internal was carried out yearly to gather valuable feedback from
and external training programmes for 25,800 registered employees and make plans for improvements in areas such
participants in 2014. as communication, technology, employee benefits, learning
and development. In total, 91% of our employees completed
We continue to provide educational opportunities for school the survey and provided invaluable feedback.
leavers and undergraduates who require financial study aid.
1 Genting UK employees competed in the London-Hong Kong Dragon 2. Genting Group Annual Staff Dinner 2014.
Boat Festival 2014. 3. Genting employees in unity.

5
4 6
Thirty-five teams from Genting UK took part in the annual We have a Board of Directors comprising the best qualified
Staff 5-a-side Football Tournament. Throughout the year, individuals with the requisite knowledge, experience,
different departments held team building events such as independence, foresight and good judgement to discharge
General Manager Strategy Days, Marketing Workshops and their duties in the best interest of our shareholders.
Slot Workshops. A company Staff Social Fund was made
available to fund social events and team building activities. Our Group observe strict standards to ensure that business
A team of 18 paddlers from Birmingham, Westcliff and two affairs are always conducted with utmost professionalism
from London Casinos competed in the London Hong Kong and integrity, free from any form of corruption or unethical
Dragon Boat Festival 2014 on the river Thames in London. behaviour. This ethical code applies to all dealings, be they
with our Groups business partners, vendors, contractors,
Over 30 learning and development workshops were organised customers or governing authorities.
for Genting UKs employees, who could also sign up for
various courses offered via its online training centre, Genting Our business affairs and financial reports are managed in
Academy Online. Genting Gaming Academy completed three accordance with the rules and requirements of regulatory
croupier training schools for Resorts World Birmingham in bodies such as the Malaysian Code on Corporate Governance,
2014 and its trainees are further developing their skills Listing Requirements of Bursa Malaysia Securities Berhad,
within Genting UKs casinos in the Midlands area. These the Companies Act 1995 and the Malaysian Accounting
employees will join the team at Resorts World Birmingham for Standards Board in Malaysia.
its opening in 2015. The casino management team and the
key management roles for the hotel have also been appointed We play an active role in carrying out responsible operations
from Genting UK. The Genting UK team is working closely with and business practices. For example, we comply with ISO
Solihull College, Solihull Council and other local stakeholders 4001 by only engaging licensed collectors who are registered
on the recruitment for Resorts World Birmingham. with Jabatan Alam Sekitar (Department of Environment) for
the collection of by-product oil and used chemical drums,
Resorts World Bimini provides housing, nutritional meals, which helps prevent recycling and retailing of the oil as fresh
and other materials to its employees on the island. The or unused merchandise.
Bimini team supports the development of the islands
natives. Its initiatives included highly publicised recruitment We work closely with our suppliers to reduce negative
drives, employee training and talent development in 2014. environmental and social impacts. We undertake due
Team building events such as Employee and Supervisor of diligence on the local farms before we purchase the produce
the Month recognition programme, movie nights, birthday from them to ensure compliance with food safety and relevant
celebrations, beach volleyball and Resorts World Bimini local environmental laws.
sports teams were held to promote good working relationships
among the employees. Our casino teams work closely with the regulatory bodies to
ensure compliance with all applicable laws and regulations.
Marketplace Self-exclusion programme such as Request for Assistance
Programme, help services and responsible gaming awareness
We are committed to be guided by honesty, integrity and materials are available in all of our casino properties to
excellence in our business conduct. We encourage responsible encourage responsible gaming among our casino patrons.
practices among our business partners, show care for our Ongoing briefings on responsible gaming are regularly
customers and uphold good corporate governance to meet conducted for all casino staff including new trainees. For
the expectation of our investors. example, Resorts World Casino New York City continues to
administer a self-exclusion programme in collaboration with
the New York State Division of Lottery.
4. Participants at the 33rd Genting Plantations Management Conference. 5&6. Training sessions are continuously conducted to enhance competencies.

1 2
The safety and wellbeing of our guests are important to future Genting Plantations is an active member of the Malaysian
business growth. We work closely with the local police, fire Palm Oil Association and is represented in its Council.
departments and local hospitals to ensure we have immediate Leveraging its capabilities in oil palm genomics, Genting
access to emergency services should the need arises. Plantations is also involved in research and development
collaborations for crop improvement with the likes of the
Resorts World Miami continues to foster partnerships with the Department of Agriculture, Sabah. Our plantations team
local trade, with special emphasis on certified minority and has actively participated in International Sustainability and
women-owned businesses. Its ongoing work continues with Carbon Certification events, with our representative being
local non-profit organisations to identify qualified minority among the invited speakers who delivered presentations at
businesses which offer services that Resorts World Miami the 5th ISCC Global Sustainability Conference and to the
utilises in its development. ISCC-European Union Members of Parliament.
In Bahamas, Resorts World Bimini is the single largest As transparency and accountability are the cornerstones of
employer on the island and its contribution to the workforce effective stakeholder engagement, we endeavour to disclose
will continue to grow when its new luxury Marina hotel all material corporate information through appropriate
opens in 2015. The resorts presence continues to generate channels in a timely, accurate and complete manner. Our
multiple opportunities for the islands business community annual general meeting is a useful and interactive forum for
which received more than USD8 million in revenue in 2014 direct engagement with shareholders.
for goods and services ranging from food and beverage, to
transportation, entertainment and event coordination. We maintain an open and regular communications with
the professional investment community through periodic
The islands tourism sector has been successfully transformed briefings, face-to-face meetings, conference calls and site
from a six-month season to year-round industry. Businesses visits. The appreciation of the investment community for our
are expanding to meet the growing demand and several new investor relations practices culminated in Genting Plantations
establishments have opened or are in the process of opening. being awarded Best Company for Investor Relations (IR)
A Bimini Chamber of Commerce has been formed to help Mid Cap for the second consecutive year, Best IR Professional
position residents to take advantage of the opportunities and Quality of One-on-One Meetings by Malaysia Investor
ahead. Relations Awards 2013/2014.
Genting UK once again received the GamCare Accreditation Our corporate website at www.genting.com provides
from GamCare which audited our UK casinos in 2014 to information on our business activities with annual reports,
ensure the highest standards of player protection. We press releases, quarterly results, announcements and investor
supported the National Casino Forum in developing a standard presentations made available. The Visitors Galleria and the
for delivering responsible gambling across UK land-based new Horizon 50 (launched in December 2014) at Resorts
casinos through Playing Safe. We continued to support the World Genting are open to the general public and provide
Responsible Gambling Trust for the research, education and a first-hand look at the history, operations and facilities of
treatment of problem gamblers in 2014. Resorts World Genting and the Genting Group.
A detailed Sustainability Report can be accessed at

www.genting.com/sustainability/index.htm.
1. Genting Plantations downstream initiative was recognised as a 2. Genting Berhad - Annual General Meeting and Extraordinary General
Bioeconomy Malaysia Prime Mover. Meeting were held in Wisma Genting.

CORPORATE GOVERNANCE
It is the policy of the Company to manage the affairs of the President and Chief Operating Officer for implementing the
Group in accordance with the appropriate standards for good policies and decisions of the Board and overseeing the day-
corporate governance. Set out below is a statement on how to-day operations of the Group.
the Company has applied the principles and complied with
the recommendations as set out in the Malaysian Code on The Board has a formal schedule of matters specifically
Corporate Governance 2012 (MCCG 2012) except where reserved for its decision, including overall strategic
stated otherwise. direction, annual operating plan, capital expenditure plan,
material acquisitions and disposals, material capital projects
A. PRINCIPLE 1: ESTABLISH CLEAR ROLES AND and the monitoring of the Groups operating and financial
RESPONSIBILITIES performance.
The Board has seven members, comprising three Executive The Board meets on a quarterly basis and additionally as
Directors and four Independent Non-Executive Directors. required. Quarterly Meetings are scheduled in advance
This composition fulfils the requirements mandated by annually for the Directors to plan ahead of their schedules.
the Main Market Listing Requirements (MMLR) of Bursa The Board reviews, amongst others, the performance of
Malaysia Securities Berhad (Bursa Securities) which the major unlisted operating subsidiaries of the Company,
stipulate that at least two (2) Directors or one-third of the risk management and compliance reports and approves
Board, whichever is higher, must be independent. The the quarterly results of the Group. The Board tracks the
Directors have wide ranging experience and all had occupied performance of the management against the annual plan
or are currently occupying senior positions in the public and/ submitted for each financial year.
or private sectors. A brief profile of each of the Directors is
presented on pages 12 to 15 of this Annual Report. Notice of meetings setting out the agenda and accompanied
by the relevant Board papers are given to the Directors in
The Board has overall responsibility for the proper conduct sufficient time to enable the Directors to peruse, obtain
of the Companys business and the Board Charter adopted additional information and/or seek further clarification on
by the Board clearly sets out the respective roles and the matters to be deliberated. Tapping into the advancement
responsibilities of the Board and the management to ensure of information technology, the Company has implemented
accountability. The Board Charter is made available on the the delivery and supply of information for Board meetings
Companys website and will be periodically reviewed and electronically.
updated to take into consideration the needs of the Company
as well as any development in rules and regulations that may As a Group practice, any Director who wishes to seek
have an impact on the discharge of the Boards duties and independent professional advice in the furtherance of his
responsibilities. duties may do so at the Groups expense. Directors have
access to all information and records of the Company and
The Board has adopted the following responsibilities to also the advice and services of the Company Secretary.
facilitate the Board in discharging its fiduciary duties in The Company Secretary, who is qualified, experienced and
respect of the Group (excluding listed subsidiaries, where competent, advises the Board on any updates relating to new
relevant): statutory and regulatory requirements pertaining to the duties
and responsibilities of Directors. The Company Secretary
Reviewing and adopting a strategic plan for the Group organises and attends all Board and Board Committee
Overseeing and evaluating the conduct of the Groups meetings and ensures meetings are properly convened
businesses and that accurate and proper records of the proceedings
Identifying principal risks and ensuring the and resolutions passed are taken and maintained at the
implementation of appropriate systems to manage these Registered Office of the Company.
risks
Establishing a succession plan for senior management During the year under review, five meetings of the Board were
Overseeing the development and implementation of a held and all Directors have complied with the requirement
shareholder communication policy for the Company in respect of board meeting attendance as provided in the
Reviewing the adequacy and the integrity of the MMLR.
management information and internal controls system
of the Group The details of Directors attendances are set out below:
Formulation of corporate policies and strategies
Approving key matters such as financial results as Number of Meetings
well as major investments and divestments, major Name of Directors Attended
acquisitions and disposals and major capital expenditure Tan Sri Lim Kok Thay 5 out of 5
in accordance with the limits of authority
Tun Mohammed Hanif bin Omar 4 out of 5
Annual assessment of the Board, Board Committees and
Mr Lim Keong Hui 5 out of 5
individual Directors including the Chief Executive
Dato Dr. R. Thillainathan 4 out of 5
The Chairman ensures the smooth and effective functioning Dato Paduka Nik Hashim bin 5 out of 5
of the Board. The Chief Executive is responsible for the vision Nik Yusoff
and strategic directions of the Group as well as initiating Tan Sri Dr. Lin See Yan 5 out of 5
innovative ideas to create competitive edge and development Datuk Chin Kwai Yoong 5 out of 5
of business and corporate strategies. He is assisted by the

CORPORATE GOVERNANCE (contd)
A. PRINCIPLE 1: ESTABLISH CLEAR ROLES AND - in the case of candidates for the position of
RESPONSIBILITIES (contd) independent non-executive directors, the nominating
committee should also evaluate the candidates
The Articles of Association of the Company provide that at ability to discharge such responsibilities/functions
least one-third of the Directors are subject to retirement as expected from independent non-executive
by rotation at each Annual General Meeting and that all directors.
Directors shall retire once in every three years. A retiring
Director is eligible for re-election. The Articles of Association (b) To recommend to the Board, candidates for appointment
also provide that a Director who is appointed by the Board to Board Committees.
in the course of the year shall be subjected to re-election at
the next Annual General Meeting to be held following his (c) To review and recommend to the Board, the Boards and
appointment. senior managements succession plans.
Directors over seventy years of age are required to submit (d) To review and recommend to the Board, the training
themselves for re-appointment annually in accordance with programmes for the Board.
Section 129(6) of the Companies Act, 1965.
The Nomination Committee met once during the financial
The Directors observe the Company Directors Code of Ethics year ended 31 December 2014 where all the members
established by the Companies Commission of Malaysia attended.
(CCM) which can be viewed from CCMs website at
www.ssm.com.my. The Chairman of the Nomination Committee, Tan Sri Dr.
Lin See Yan (email address: [email protected]) has been
The Company recognises that any genuine commitment to designated as the Senior Independent Non-Executive Director
detecting and preventing actual or suspected unethical, identified by the Board pursuant to Recommendation 2.1 of
unlawful, illegal, wrongful or other improper conduct must the MCCG 2012.
include a mechanism whereby employees can report their
concerns freely without fear of reprisal or intimidation. To The Nomination Committee carried out its duties in
this end, the Company has adopted a Whistleblower Policy accordance with its Terms of Reference and the main
which is disseminated to employees. activities carried out by the Nomination Committee during
the financial year ended 31 December 2014 were set out
The Group is committed to operating in a sustainable below:
manner and seeks to contribute positively to the well-
being of stakeholders. Details of the Groups key corporate (a) considered and reviewed the Boards succession plans,
responsibility activities in 2014 can be found in the the present size, structure and composition of the Board
Sustainability Report on pages 39 to 50 of this Annual and Board Committees as well as the required mix of
Report. skills, experience and competency required;
B. PRINCIPLE 2: STRENGTHEN COMPOSITION (b) considered and reviewed the Senior Managements
succession plans; and
Formal Board Committees established by the Board
namely the Audit Committee, Nomination Committee and (c) considered and reviewed the trainings attended by the
Remuneration Committee assist the Board in the discharge Directors, discussed the training programmes required
of its duties. Three out of the four Independent Non- to aid the Directors in the discharge of their duties as
Executive Directors participate in the Audit Committee and directors and to keep abreast with industry developments
Remuneration Committee. Two of the four Independent and trends.
Non-Executive Directors also participate in the Nomination
Committee as members of the Committee. The members of the Nomination Committee would meet
up with the potential candidates to assess their suitability
The Nomination Committee has been established since 2002 based on a prescribed set of criteria. Potential candidates
and the members of the Nomination Committee comprising are required to declare and confirm in writing, amongst
entirely Independent Non-Executive Directors are set out on others, his/her current directorships, that he/she is not
page 10 of this Annual Report. an undischarged bankrupt, or is involved in any court
proceedings in connection with the promotion, formation or
The Terms of Reference of the Nomination Committee are: management of a corporation or involving fraud or dishonesty
punishable on conviction with imprisonment or is subject
(a) To identify and recommend to the Board suitable to any investigation by any regulatory authorities under any
candidates for appointment to the Board, taking into legislation. Further, candidates being considered for the
consideration the candidates: position of independent director are required to declare and
confirm their independence based on the criteria set out in
- skills, knowledge, expertise and experience; the MMLR.
- professionalism;
- integrity; and On appointment of new Directors, the management would
facilitate the Directors induction by providing the Directors
with relevant information about the Group and encouraging
them to visit the sites of the Groups operating units and
meet with key senior executives.
B. PRINCIPLE 2: STRENGTHEN COMPOSITION (contd) C. PRINCIPLE 3: REINFORCE INDEPENDENCE
The process of assessing the Directors is an on-going The Board noted Recommendation 3.2 of the MCCG 2012
responsibility of the entire Board. The Board has put in place that the tenure of an independent director should not exceed
a formal evaluation process to assess the effectiveness of the a cumulative term of nine (9) years. The Board is of the
Board as a whole, the Board Committees and the contribution view that the ability of long serving independent directors
and performance of each individual Director, including the to remain independent and to discharge their duties with
Independent Non-Executive Directors and Chief Executive on integrity and competency should not be measured solely
an annual basis. The criteria used, amongst others, for the by tenure of service or any pre-determined age. Their long
annual assessment of individual Directors/Chief Executive service should not affect their independence as they are
include an assessment on their roles, duties, responsibilities, independent-minded and had provided the necessary checks
competency, expertise and contribution whereas for the and balances in the best interest of the shareholders. From
Board and Board Committees, the criteria used include the date the Independent Directors were appointed, they
composition, structure, accountability, responsibilities, had provided an undertaking to Bursa Securities confirming
adequacy of information and processes. and declaring that they are independent directors as defined
under paragraph 1.01 of the MMLR of Bursa Securities.
In respect of the assessment for the financial year ended The Board agreed that ultimately the Independent Directors
31 December 2014, the Board was satisfied that the Board themselves are the best person to determine whether they
and Board Committees have discharged their duties and can continue to bring independent and objective judgement
responsibilities effectively. The Board was also satisfied that to board deliberations.
the Board composition in terms of size, the balance between
Executive, Non-Executive and Independent Directors and In line with Recommendation 3.1 of the MCCG 2012
mix of skills was adequate. whereby the Board is required to develop criteria to assess
independence of directors, the Board had adopted the same
The Group strictly adhered to the practice of non- criteria used in the definition of independent directors
discrimination of any form, whether based on age, gender, prescribed by the MMLR but excluding the tenure prescribed
ethnicity or religion, throughout the organisation. This by MCCG 2012. Therefore, Recommendation 3.2 of the
included the selection of Board members. In addition, the MCCG 2012 (assessment criteria for independence of
Group believed it is of utmost importance that the Board is directors should include tenure) and Recommendation 3.3 of
composed of the best-qualified individuals who possess the the MCCG 2012 (the Board is allowed to seek shareholders
requisite knowledge, experience, independence, foresight approval for independent directors after 9 years tenure to
and good judgement to ensure the Company has an effective remain as an independent director) do not arise.
composition of the Board that is confident in its ability to
discharge their duties effectively in the best interests of the Accordingly, Tan Sri Dr. Lin See Yan and Dato Paduka Nik
Company and shareholders. All the Directors of the Company Hashim bin Nik Yusoff who have been Independent Non-
are male and the racial composition is 29% Malay, 57% Executive Directors of the Company since 28 November
Chinese and 14% Indian. 14% of the Directors are between 2001 and 8 June 1979 respectively, will continue to be
the ages of 30 and 55 and the remaining 86% are above 55 Independent Directors of the Company, notwithstanding
years old. having served as Independent Directors on the Board for
more than nine years.
The Remuneration Committee has been established since
2002 and the members of the Remuneration Committee For the financial year ended 31 December 2014, each of the
comprising three Independent Non-Executive Directors and four Independent Non-Executive Directors had provided an
one Executive Director as set out on page 11 of this Annual annual confirmation of his independence to the Board based
Report. The Remuneration Committee is responsible for on its policy on criteria of assessing independence in line
making recommendations to the Board on the remuneration with the definition of independent directors prescribed by
packages of Executive Directors and members of Board the MMLR. The Board had assessed and concluded that the
Committees. In making recommendations to the Board, four Independent Non-Executive Directors of the Company,
information provided by independent consultants and namely Tan Sri Dr. Lin See Yan, Dato Paduka Nik Hashim
appropriate survey data are taken into consideration. The bin Nik Yusoff, Dato Dr. R. Thillainathan and Datuk Chin
Board as a whole, determines the level of fees of Non- Kwai Yoong continue to demonstrate conduct and behavior
Executive Directors and Executive Directors. Directors that are essential indicators of independence, and that each
fees are approved at the Annual General Meeting by the of them is independent of the Companys management and
shareholders. Directors do not participate in decisions free from any business or other relationship which could
regarding their own remuneration packages. interfere with the exercise of independent judgement or
the ability to act in the best interest of the Company. Each
The Remuneration Committee met three times during the Independent Director has undertaken to notify the Board of
financial year. any changes to the circumstances or development of any new
interest or relationship that would affect their independence
Details of the Directors remuneration are set out in the as an independent director of the Company. The Board will
Audited Financial Statements on page 110 of this Annual promptly consider that new information in reassessing the
Report. In the interest of security, additional information Directors independence.
have not been provided other than the details stipulated in
the MMLR.

C. PRINCIPLE 3: REINFORCE INDEPENDENCE (contd)
The Board is mindful of the dual role of Chairman and Chief Executive held by Tan Sri Lim Kok Thay but is of the view that
there are sufficient experienced and independent minded Directors on the Board to provide the assurance that there is
sufficient check and balance. Given that there is a balanced Board with four experienced Independent Directors representing
more than 50% of the Board and the presence of Tun Mohammed Hanif bin Omar as Deputy Chairman, there is a strong
independent element on the Board to exercise independent judgement. Tan Sri Lim Kok Thay has considerable experience in
the Groups businesses and provides leadership for the Board in considering and setting the overall strategies and objectives
of the Company. The Board is of the view that it is in the interest of the Company to maintain the above arrangement so that
the Board could have the benefit of a chairman who is knowledgeable about the business of the Group and is capable to guide
discussion and brief the Board in a timely manner on key issues and developments.
D. PRINCIPLE 4: FOSTER COMMITMENT
In line with Recommendation 4.1 of the MCCG 2012 whereby the Board should set out expectations on time commitment for
its members and protocols for accepting new directorships, each Director is required to notify the Chairman of the Board prior to
accepting directorships in public and public listed companies incorporated in Malaysia as well as directorships in corporations
with similar businesses operating in the same jurisdiction. The Chairman of the Board shall notify all the Board members before
accepting directorships in public and public listed companies incorporated in Malaysia as well as directorships in corporations
with similar businesses operating in the same jurisdiction. The notification will also include an approximate indication of time
per year that will be spent by the Directors on the new directorships.
All the Directors have attended the Mandatory Accreditation Programme and are also encouraged to attend courses whether
in-house or external to help them in the discharge of their duties.
During the financial year ended 31 December 2014, the Directors received regular briefings and updates on the Groups
businesses, operations, risk management, internal controls, corporate governance, finance and any new or changes to the
relevant legislation, rules and regulations.
The following are the courses and training programmes attended by the Directors in 2014:
NAMES OF DIRECTORS
Tun Dato' Datuk
Tan Sri Mohammed Dato' Paduka Nik Tan Sri Chin
Lim Kok Hanif bin Mr. Lim Dr. R. Hashim bin Dr. Lin Kwai
SEMINAR/COURSES Thay Omar Keong Hui Thillainathan Nik Yusoff See Yan Yoong
Seminar on Nominating and Remuneration
Committees - What Every Director Should Know
by Bursatra Sdn Bhd
Seminar on Governance In Action - What Every

Director Should Know by Bursatra Sdn Bhd
PNB Nominee Directors Convention 2014 on
Managing Stakeholders Expectations in the

Fast Changing Business Trends Towards Value
Creation by PNB Investment Institute Sdn Bhd
Workshop on Anti-Money Laundering Act and Anti-
Terrorism Financing by AmBank Group Learning
& Development
Regional Summit on 6th Annual Corporate
Governance Roundtable Summit 2013 by Asian
World Summit Sdn Bhd
Panelist at the Inaugural Conference of the Jeffrey
Cheah Institute on Southeast Asia on Human

Capital Needs for the 21st Century: The Role of
Higher Education
FIDE Forum Dialogue on Economic and Financial
Services Sector : Trends and Challenges Moving

Forward by FIDE in collaboration with Bank
Negara Malaysia
Risk Appetite Workshop by Astro Malaysia Holdings

Berhad
Keynote speaker at a luncheon talk on Current
Economic Situation in Malaysia. by the Hawaii
Asia Pacific Association
Lectures on The Financial Crisis & Financial Reforms
& Chinas Foreign Affairs under Xi Jinping by

London School of Economics and Political Science
(LSE) Alumni Society of Malaysia
D. PRINCIPLE 4: FOSTER COMMITMENT (contd)
The following are the courses and training programmes attended by the Directors in 2014:
NAMES OF DIRECTORS
Tun Dato' Datuk
Tan Sri Mohammed Dato' Paduka Nik Tan Sri Chin
Lim Kok Hanif bin Mr. Lim Dr. R. Hashim bin Dr. Lin Kwai
SEMINAR/COURSES Thay Omar Keong Hui Thillainathan Nik Yusoff See Yan Yoong
Seminar on Reviewing the Risk and Control on
the Quality of Financial Statements by Bursatra
Sdn Bhd
Roundtable discussion on Financial Reporting by

Malaysian Accounting Standards Board
Speaker at the 2014 Shanghai Forum on:
Economic Globalization and the Choice of Asia
Asia Transforms: Identifying New Dynamics by

Fudan University and at the Fudan FTZ Forum
by the School of Economics, Fudan University,
Shanghai
Seminar on Understanding of Goods and Services

Tax (GST) in Malaysia by Bursatra Sdn Bhd
2nd Asian Business Conference 2014: 2015
Approaching: Priming for ASEAN Integration by
the Asian Institute of Management
Directors Continuing Education Programme 2014 by
Fraser & Neave Holdings Berhad and Cocoaland
Holdings Berhad
- Malaysia & SEA Beverage Consumption Trends
- Goods and Services Tax
- The ASEAN Economic Community in 2015 -
Implications for the Food & Beverages Industry
Singapore Institute of Directors (SID) Conference

2014 on Towards The New Capitalism
Media Outlook 2014 to 2018 by Astro Malaysia

Holdings Berhad
Conference on Intellectual Property (IP)

Financing by Bank Negara Malaysia
Seminar on Corporate Governance by Risks,
Opportunities, Assessment and Management
(ROAM) Inc.
Directors Breakfast Series Great Companies

Deserve Great Boards by Bursa Malaysia Berhad
Asian Management Conference & Exhibition 2014
(AMCE 2014) - Social Capital: Leading in a

Networked World by Malaysian Institute of
Management
26th Senior Managers Conference 2014 of Genting
Malaysia Berhad
- US Gaming Markets & Global Trends by Mr Bret
Yunker & Mr Benjamin Rouah of JP Morgan
- UK and European Gaming including impact of
UK Internet Gaming by Victoria Greer of JP
Morgan
- Evolving Travel, Hotels and Resorts Landscape
by Mr Rohit Talwar, Futurist
- The Future of Gaming by Mr Gerd Leonhard,
Futurist
- Economic Update by Mr David Simmonds of
Royal Bank of Scotland
- Investment Climate by Mr Michael Ward of
Royal Bank of Scotland
Keynote Speaker at the International Conference
on Contemporary Economic Issues 2014 by
Universiti Sains Malaysia
Seminar on Strategy Governance & World
Challenging Issues and Market Outlook 2015 &

Beyond by IABT Advanced in Business Training
Sdn Bhd

E. PRINCIPLE 5: UPHOLD INTEGRITY IN FINANCIAL F. PRINCIPLE 6: RECOGNISE AND MANAGE RISKS

REPORTING
The Board is responsible for the Groups risk management
The Board aims to ensure that the quarterly reports, framework and system of internal control and for reviewing
annual financial statements as well as the annual review of their adequacy and integrity. While acknowledging their
operations in the annual report are presented in a manner responsibility for the system of internal control, the Directors
which provides a balanced and comprehensive assessment are aware that such a system is designed to manage rather
of the Companys performance and prospects. than eliminate risks and therefore cannot provide an absolute
assurance against material misstatement or loss.
The Audit Committee, amongst others, has been delegated
with the responsibility to review the quarterly reports of the To assist the Board in maintaining a sound system of internal
Group, focusing particularly on: control for the purposes of safeguarding shareholders
investment and the Groups assets, the Group has in place,
(a) changes in or implementation of major accounting policy an adequately resourced internal audit department. The
changes; activities of this department which reports regularly to the
(b) significant and unusual events; and Audit Committee provide the Board with sufficient assurance
(c) compliance with accounting standards and other legal regarding the adequacy and effectiveness of the system of
requirements. internal control. As proper risk management is a significant
component of a sound system of internal control, the Group
The Directors are also required by the Companies Act, has also put in place a risk management process to help
1965 to prepare financial statements for each financial year the Board in identifying, evaluating and managing risks. The
which have been made out in accordance with the Financial implementation and maintenance of the risk management
Reporting Standards, the Malaysian Accounting Standards process is carried out by the respective Risk and Business
Board Approved Accounting Standards in Malaysia for Continuity Management Committees of the Group.
Entities and Other Than Private Entities and which give a
true and fair view of the state of affairs of the Group and A Statement on Risk Management and Internal Control which
of the Company at the end of the financial year and of the provides an overview of the state of internal controls within
results and cash flows of the Group and of the Company for the Group is set out on pages 61 to 62 of this Annual Report.
the financial year.
G. PRINCIPLE 7: ENSURE TIMELY AND HIGH QUALITY
A statement by the Board of its responsibilities for preparing DISCLOSURE
the financial statements is set out on page 164 of this
Annual Report. The Board observes the Corporate Disclosure Guide issued
by the Bursa Securities which can be viewed from Bursa
The Company through the Audit Committee, has an Securities website at www.bursamalaysia.com as well as
appropriate and transparent relationship with the external adhering to and complying with the disclosure requirements
auditors. In the course of audit of the Groups financial of the MMLR.
statements, the external auditors have highlighted to the
Audit Committee and the Board, matters that require the The Group acknowledges the importance of timely and equal
Boards attention. Audit Committee meetings are attended dissemination of material information to the shareholders,
by the external auditors for purposes of presenting their audit investors and public at large. The Company holds separate
plan and report and for presenting their comments on the quarterly briefings for fund managers, institutional investors
audited financial statements. and investment analysts after each quarters financial results
announcement.
The Audit Committee had reviewed the suitability and
independence of external auditors and recommended their The Group maintains a corporate website at www.genting.
re-appointment for the financial year ending 31 December com which provides information relating to annual reports,
2014. The external auditors had provided a confirmation of press releases, quarterly results, announcements and
their independence to the Audit Committee that they are and investor presentations. In line with the MCCG 2012, the
have been independent throughout the conduct of the audit Board Charter, Memorandum and Articles of Association of
engagement in accordance with the terms of all relevant the Company and other relevant and related documents or
professional and regulatory requirements. The policies reports relating to Corporate Governance are made available
governing the circumstances under which contracts for the on the aforesaid website.
provision of non-audit services could be entered into and
procedures that must be followed by the external auditors The Group also participates in investor forums held locally
have been submitted to the Audit Committee. and abroad and also organises briefings and meetings
with analysts and fund managers to give them a better
understanding of the businesses of the Group.

H. PRINCIPLE 8: STRENGTHEN RELATIONSHIP BETWEEN COMPANY AND SHAREHOLDERS
The Companys Annual General Meeting remains the principal forum for dialogue with shareholders. Shareholders are encouraged
to participate in the proceedings and ask questions about the resolutions being proposed and the operations of the Group.
The Board has identified Tan Sri Dr. Lin See Yan (email address: [email protected]) to whom concerns may be conveyed.
The current minimum notice period for notices of meetings is as prescribed in MMLR and the Board is of the view that it is
adequate. However, the Board notes the recommendation of the MCCG 2012 to serve notices for meetings earlier than the
minimum notice period and will endeavour to meet this recommendation for future meetings.
The rights of shareholders, including the right to demand for a poll, are found in the Articles of Association of the Company,
a copy of which has been made available on the Companys website. At the 46th Annual General Meeting and Extraordinary
General Meeting of the Company both held on 12 June 2014, the Chairman had notified the shareholders of their right to
demand a poll vote at the commencement of the Annual General Meeting/Extraordinary General Meeting.
The Board has taken the requisite steps to adopt electronic voting, where feasible, to facilitate greater shareholder participation
at general meetings and to ensure accurate and efficient outcomes of the voting process.
I. OTHER INFORMATION
(i) Material Contracts
Material contracts of the Company and its subsidiaries involving Directors and major shareholders either subsisting at
the end of the financial year or entered into since the end of the previous financial year are disclosed in Note 48 to the
financial statements under Significant Related Party Transactions and Balances on pages 147 to 148 of this Annual
Report.
(ii) Share Buy-Back
The details of the Companys Share Buy Back exercises for the financial year ended 31 December 2014 are as follows:
Schedule of Share Buy-Back for the financial year ended 31 December 2014:
No. of Shares Purchased Purchase Price per Share Average Price Total
& Retained As Treasury Lowest Highest per Share* Consideration
Month Shares (RM) (RM) (RM) (RM million)
February 2014 61,500 10.10 10.10 10.11 0.6
September 2014 98,500 9.69 9.70 9.70 1.0
160,000 1.6
* Inclusive of transaction charges

During the financial year, all the shares purchased by the Company were retained as treasury shares. As at 31 December
2014, the number of treasury shares was 25,070,000.
(iii) Sanctions and/or Penalties
There were no sanctions and/or penalties imposed on the Company and/or its subsidiaries, Directors or management by
relevant regulatory bodies, which were material and made public during the financial year ended 31 December 2014.
This statement on Corporate Governance is made in accordance with a resolution of the Board of Directors dated 8 May 2015.

AUDIT COMMITTEE REPORT
AUDIT COMMITTEE v) reviewed the quarterly reports of the Company and of the
Group, focusing particularly on:
The Audit Committee (Committee) was established on 26
July 1994 to serve as a Committee of the Board. (a) changes in or implementation of major accounting
policy changes;
MEMBERSHIP
(b) significant and unusual events; and
The present members of the Committee comprise:
(c) compliance with accounting standards and other
Tan Sri Dr. Lin See Yan Chairman/Independent legal requirements;
Non-Executive Director
Dato Paduka Nik Hashim bin Member/Independent vi) reviewed related party transactions of the Company and
Nik Yusoff Non-Executive Director of the Group;
Datuk Chin Kwai Yoong Member/Independent
Non-Executive Director vii) reviewed the proposed audit fees for the external auditors
in respect of their audit of the financial statements of
ATTENDANCE AT MEETINGS DURING THE FINANCIAL the Company and the Group;
YEAR 2014
viii) reviewed the suitability and independence of the external
The Committee held a total of six (6) meetings. Details of auditors and recommended their re-appointment;
attendance of the Committee members are as follows:
ix) reviewed the financial statements of the Company and
Number of the Group for the financial year ended 31 December
Name of Member Meetings Attended* 2013; and
Tan Sri Dr. Lin See Yan 6 out of 6
x) reviewed the reports submitted by the Risk and Business
Dato Paduka Nik Hashim bin 6 out of 6
Nik Yusoff Continuity Management Committee of the Company.
Datuk Chin Kwai Yoong 6 out of 6
INTERNAL AUDIT FUNCTION AND RISK MANAGEMENT
* The total number of meetings is inclusive of the PROCESS
special meetings held between members of the
Committee who are non-executive Directors of the The Group has an adequately resourced internal audit
Company and representatives of the external auditors, function to assist the respective Boards in maintaining
PricewaterhouseCoopers without the presence of any a sound system of internal control. The internal audit
Executive Director. department reports to the Committee and the primary role of
the department is to undertake regular and systematic review
SUMMARY OF ACTIVITIES DURING THE FINANCIAL YEAR of the risk management and internal control processes to
2014 provide sufficient assurance that the Company and the Group
have sound systems of internal control and that established
The Committee carried out its duties in accordance with its policies and procedures are adhered to and continue to be
Terms of Reference. effective in addressing the risks identified.
The main activities carried out by the Committee were as Internal audit functions independently of the activities it
follows: audits and carries out its work according to the standards set
by professional bodies.
i) reviewed the internal audit plan for the Company and
the Group and authorised resources to address risk areas During the financial year ended 31 December 2014, the
that have been identified; internal audit carried out duties in areas covering operation
audit, information system audit and compliance audit.
ii) reviewed the internal audit reports for the Company and
the Group; On a quarterly basis, internal audit submits audit reports and
the status of the internal audit plan for review and approval
iii) reviewed the external audit plan for the Company and by the Committee. Included in the reports are recommended
the Group with the external auditors; corrective measures on risks or internal control weaknesses
identified, if any, for implementation by Management.
iv) reviewed the external audit reports for the Company and Internal audit also conducts subsequent follow-up work to
the Group with the external auditors; check that Management has dealt with the recommendations
satisfactorily.

AUDIT COMMITTEE REPORT (contd)
INTERNAL AUDIT FUNCTION AND RISK MANAGEMENT The Chairman shall be an independent Director
PROCESS (CONTD) elected by the members of the Committee.

The total costs incurred for the internal audit function of the (ii) In the event of any vacancy in the Committee resulting
Company and of the Group for the financial year ended 31 in the non-compliance of paragraph (i) above, the Board
December 2014 amounted to RM0.4 million and RM14.6 must fill the vacancy within 3 months.
million respectively.
(iii) The term of office and performance of the Committee
As proper risk management is a significant component and each of its members shall be reviewed by the Board
of a sound system of internal control, the Group has at least once every 3 years to determine whether the
also put in place a risk management process to help the Committee and its members have carried out their
Board in identifying, evaluating and managing risks. The duties in accordance with their terms of reference.
implementation and maintenance of the risk management
process is carried out by the respective Risk and Business 2. Authority
Continuity Management Committees of the Group.
The Committee is granted the authority to investigate any
The review of the risk management processes and reports activity of the Company and its subsidiaries within its terms
is delegated by the Board to the Committee. In this regard, of reference, and all employees are directed to co-operate as
quarterly risk management reports and the annual Statement requested by members of the Committee. The Committee is
on Risk Management and Internal Control are reviewed and empowered to obtain independent professional or other advice
deliberated by the Committee prior to recommending for and retain persons having special competence as necessary
endorsement by the Board. to assist the Committee in fulfilling its responsibility.
A Statement on Risk Management and Internal Control which 3. Responsibility

provides an overview of the state of internal controls within
the Group is set out on pages 61 to 62 of this Annual Report. The Committee is to serve as a focal point for communication
between non-Committee Directors, the external auditors,
TERMS OF REFERENCE internal auditors and the Management on matters in
connection with financial accounting, reporting and
The Committee is governed by the following terms of controls. The Committee is to assist the Board in fulfilling
reference: its fiduciary responsibilities as to accounting policies and
reporting practices of the Company and all subsidiaries and
1. Composition the sufficiency of auditing relative thereto. It is to be the
Boards principal agent in assuring the independence of the
(i) The Committee shall be appointed by the Board from Companys external auditors, the integrity of the Management
amongst the Directors excluding Alternate Directors; and the adequacy of disclosures to shareholders.
shall consist of not less than three members, all of
whom are non-executive Directors with a majority of If the Committee is of the view that a matter reported to
them being independent Directors; and at least one the Board has not been satisfactorily resolved resulting
member of the audit committee: in a breach of the Bursa Securities Main Market Listing
Requirements, the Committee shall promptly report such
(a) must be a member of the Malaysian Institute of matter to Bursa Securities.
Accountants; or
4. Functions
(b) if he is not a member of the Malaysian Institute of
Accountants, he must have at least 3 years working The functions of the Committee are to:
experience and:
i) review with the external auditors, their audit plan;
(aa)
he must have passed the examinations
specified in Part I of the First Schedule of the ii) review with the external auditors, their evaluation of the
Accountants Act 1967; or system of internal accounting controls;
(bb) he must be a member of one of the associations iii) review with the external auditors, their audit report and
of accountants specified in Part II of the First management letter (if any);
Schedule of the Accountants Act 1967; or
iv) review the assistance given by the Companys officers to
(c) fulfils such other requirements as prescribed or the external auditors;
approved by Bursa Malaysia Securities Berhad
(Bursa Securities).
AUDIT COMMITTEE REPORT (contd)
TERMS OF REFERENCE (contd)
4. Functions (contd)
v) review the adequacy of the scope, functions, competency and resources of the internal audit functions and that it has the
necessary authority to carry out its work;
vi) review the internal audit programme, processes, the results of the internal audit programme, processes or investigation
undertaken and whether or not appropriate action is taken on the recommendations of the internal audit functions;
vii) review the quarterly results and year end financial statements, prior to the approval by the Board, focusing particularly on:
(a) changes in or implementation of major accounting policy changes;
(b) significant and unusual events; and
(c) compliance with accounting standards and other legal requirements;
viii) review any related party transaction and conflict of interest situation that may arise within the Company or Group including
any transaction, procedure or course of conduct that raises questions of Management integrity; and
ix) consider the nomination, appointment and re-appointment of external auditors; their audit fees; and any questions on
resignation, suitability and dismissal.
5. Meetings
i) The Committee is to meet at least four times a year and as many times as the Committee deems necessary.
ii) In order to form a quorum for any meeting of the Committee, the majority of members present must be independent.
iii) The meetings and proceedings of the Committee are governed by the provisions of the Articles of Association of the
Company regulating the meetings and proceedings of the Board so far as the same are applicable.
iv) The head of finance and the head of internal audit shall normally attend meetings of the Committee. The presence of a
representative of the external auditors will be requested if required.
v) Upon request by the external auditors, the Chairman of the Committee shall convene a meeting of the Committee to
consider any matters the external auditors believe should be brought to the attention of the Directors or Shareholders of
the Company.
vi) At least twice a year, the Committee shall meet with the external auditors without the presence of any executive Director.
vii) Whenever deemed necessary, meetings can be convened with the external auditors, internal auditors or both, excluding the
attendance of other directors and employees.
6. Secretary and Minutes
The Secretary of the Committee shall be the Company Secretary. Minutes of each meeting are to be prepared and sent to the
Committee members, and the Companys Directors who are not members of the Committee.
This Audit Committee Report is made in accordance with a resolution of the Board of Directors dated 8 May 2015.

STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL
for the Financial Year ended 31 December 2014
Boards Responsibilities The RBCMC of Genting Berhad comprises senior

management of the Group and is chaired by the President
Pursuant to the requirements under the Malaysian Code of and Chief Operating Officer of Genting Berhad. The
Corporate Governance (March 2012) for companies listed on RBCMCs of principal subsidiaries Genting Malaysia Berhad,
the Bursa Malaysia Securities Berhad (Bursa Securities), Genting Plantations Berhad and Genting Singapore PLC
the Board of Directors (the Board) of Genting Berhad are represented by their senior management and chaired
(Company) acknowledges their responsibility for risk by the Deputy Chief Operating Officer, the Chief Financial
management and internal control under the Bursa Securities Officer and Executive Vice President of Corporate Services
Main Market Listing Requirements to: - respectively.
Review the risk management framework, processes and The Risk Management Process
responsibilities to provide reasonable assurance that
risks are managed within tolerable ranges and embed The Group adopts the Control Self-Assessment (CSA)
risk management in all aspects of business activities via approach on an ongoing basis to formalise the risk
identifying principal risks and ensure implementation of management process at the business/operating unit level.
appropriate control measures to manage the risks. With the CSA, departments/business areas of the Group are
required to identify risks and evaluate controls within key
Review the adequacy and integrity of the internal functions/activities of their business processes. The risks
control system and management information systems to the Groups strategic objectives are consolidated and
and systems for compliance with applicable laws, assessed at the Group level.
regulations, rules, directives and guidelines.
The key aspects of the risk management process are:-
The Board confirms that there is an ongoing risk
management process established to identify, evaluate, and Business/Operations Heads undertake to update their
manage significant risks to effectively mitigate the risks that risk profiles on a six monthly basis from the previous
may impede the achievement of business and corporate update and issue a letter of assurance to confirm that
objectives of Genting Berhad and its principal subsidiaries, they have reviewed the risk profiles, risk reports and
which include Genting Malaysia Berhad, Genting Plantations related business processes and are also monitoring the
Berhad and Genting Singapore PLC ( collectively referred to implementation of action plans.
as the Group). It should be noted that an internal control
system is designed to manage risks rather than eliminate The risk profiles, control procedures and status of the
them, and can provide only reasonable but not absolute action plans are reviewed on a regular basis by the Head-
assurance against any material misstatement or loss. Risk Management with the Business/ Operations Heads.
The review of the risk management and internal control Management of the respective companies is provided
reports and processes is delegated by the Board to the Audit with reports to enable them to review, discuss and
Committee. monitor the risk profiles and implementation of action
plans.
Managements Responsibilities
On a quarterly basis the RBCMC of the respective
Management is accountable to the Board for risk companies meet to review status of risk reviews, the
management and internal control and has implemented significant risks identified and the progress of the
processes to identify, evaluate, monitor and report risks implementation of action plans. Consequently a risk
and controls. In this regard Risk and Business Continuity management report summarising the significant risks
Management Committees (RBCMC) have been established and/or status of action plans of the respective companies
at the Company and its principal subsidiaries to:- are presented quarterly to the respective Audit
Committees for review, deliberation and recommendation
Undertake implementation and maintenance of the risk for endorsement by the respective Boards of Directors.
management process in the respective business units.
Business continuity management is regarded as an integral
Ensure the effectiveness of the risk management process part of the Groups risk management process. In this regard
and implementation of risk management policies. to minimise potential disruptions to business and operations
either due to failure of critical IT systems and/or operational
Identify risks relevant to the business of the respective processes, some of the subsidiaries and key operating
companies to achieve their objectives. units have either implemented or are in the process of
implementing business continuity plans.
Identify significant changes to risk or emerging risks,
take actions as appropriate to communicate to their
respective Audit Committees and Board of Directors.

STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL (contd)
for the Financial Year ended 31 December 2014
The Internal Control Processes Included in the reports are recommended corrective
measures on risks identified, if any, for implementation
The key aspects of the internal control process are:- by Management. Internal Audit also conducts subsequent
follow-up work to check that Management has dealt with the
The Board and the Audit Committee meet every quarter recommendations satisfactorily.
to discuss matters raised by Management, Internal Audit
and the external auditors on business and operational The Risk Management Function
matters including potential risks and control issues.
The Risk Management Department (Risk Management)
The Board has delegated the responsibilities to various facilitates the implementation of the risk management
committees established by the Board and Management framework and processes with the respective business
of the Company and its principal subsidiary companies or operating units. Risk Management is responsible for
to implement and monitor the Boards policies on reviewing risks on an ongoing basis so that risks that may
controls. impede the achievement of objectives are adequately
identified, evaluated, managed and controlled.
Delegation of authority including authorisation limits
at various levels of Management and those requiring On a quarterly basis, Risk Management prepares a report
the Boards approval are documented and designed to detailing the significant risks, the status of risk reviews and
ensure accountability and responsibility. the status of implementation of action plans for review by the
RBCMC and the Audit Committee.
Internal procedures and policies are documented in
manuals, which are reviewed and revised periodically to The process as outlined in this statement for identifying,
meet changing business and operational requirements evaluating and managing risks has been in place for the year
and statutory reporting needs. under review and up to date of approval of this statement.
The risk management process and internal control system of
Performance and cash flow reports are provided to the Company have been reviewed and found to be operating
Management and the Group Executive Committee to adequately and effectively in all material respects and the
facilitate review and monitoring of financial performance Board has accordingly received a statement of assurance
and cash flow position. from the relevant key executive officers including the
Chairman and Chief Executive and Executive Vice President
Business/operating units present their annual budget, - Finance of the Company.
which includes the financial and operating targets,
capital expenditure proposals and performance The representations made by the Groups principal subsidiary,
indicators for review by the Group Executive Committee jointly controlled and associated companies in respect of
and the Board. their risk management and internal control systems have
been taken into consideration by the Board in issuing this
A half yearly review of the annual budget is undertaken statement.
by Management to identify and where appropriate, to
address significant variances from the budget. As required by Paragraph 15.23 of the Bursa Malaysia
Securities Berhad Main Market Listing Requirements, the
Some weaknesses in internal control were identified for the external auditors have reviewed this Statement on Risk
year under review but these are not deemed significant and Management and Internal Control. Their limited assurance
hence have not been disclosed in this statement, as these review was performed in accordance with Recommended
weaknesses have not materially impacted the business or Practice Guide (RPG) 5 (Revised) issued by the Malaysian
operations of the Group. Nevertheless, measures have been Institute of Accountants, which does not require the external
or are being taken to address these weaknesses. auditors to form an opinion on the adequacy and effectiveness
of the risk management and internal control systems of the
The Internal Audit Function Company and that of the Group. Based on the procedures
performed, nothing had come to their attention that caused
The Internal Audit Division (Internal Audit) is responsible them to believe that the Statement on Risk Management
for undertaking regular and systematic review of the risk and Internal Control set out above was not prepared, in
management and internal control processes to provide the all material respects, in accordance with the disclosures
Audit Committee and the Board with sufficient assurance required by paragraphs 41 and 42 of the Statement on Risk
that the systems of internal control are effective in addressing Management and Internal Control: Guidelines for Directors
the risks identified. Internal Audit functions independently of Listed Issues, nor was factually inaccurate.
of the activities it audits and carries out its duties according
to the standards and best practices set out by professional This Statement on Risk Management and Internal Control is
bodies. made in accordance with the resolution of the Board dated
26 February 2015.
On a quarterly basis, Internal Audit submits audit reports and
plan status for review and approval by the Audit Committee.

DIRECTORS REPORT AND STATEMENT PURSUANT TO
SECTION 169(15) OF THE COMPANIES ACT, 1965
The Directors of GENTING BERHAD have pleasure in submitting their report together with their statement pursuant to Section
169(15) of the Companies Act, 1965 therein and the audited financial statements of the Group and of the Company for the
financial year ended 31 December 2014.
PRINCIPAL ACTIVITIES
The Company is principally an investment holding and management company.
The principal activities of the subsidiaries include leisure and hospitality, gaming and entertainment businesses, development
and operation of integrated resort, plantation, the generation and supply of electric power, property development and
management, tours and travel related services, investments, genomics research and development and oil and gas exploration,
development and production activities.
Details of the principal activities of the subsidiaries, joint ventures and associates are set out in Note 49 to the financial
statements.
There have been no other significant changes in the nature of the activities of the Group and of the Company during the
financial year.
FINANCIAL RESULTS
Group Company
RM Million RM Million
Continuing operations:
Profit before taxation 4,262.3 686.4
Taxation (1,108.7) (120.8)
Profit for the financial year from continuing operations 3,153.6 565.6
Discontinued operations:
Loss for the financial year from discontinued operations (7.5) -
Profit for the financial year 3,146.1 565.6
TREASURY SHARES
The shareholders of the Company had granted a mandate to the Company to purchase its own shares at the Annual General
Meeting of the Company held on 12 June 2014.
During the financial year, the Company purchased 160,000 ordinary shares of 10 sen each of its issued share capital from the
open market at an average price of RM9.86 per share. The share buy back transactions were financed by internally generated
funds. As at 31 December 2014, the total number of shares purchased was 25,070,000 and held as treasury shares in
accordance with the provisions of Section 67A of the Companies Act, 1965.
DIVIDENDS
Since the end of the previous financial year, an interim single-tier dividend of 1 sen per ordinary share of 10 sen each
amounting to RM37,179,781.83 in respect of the financial year ended 31 December 2014 was paid by the Company on 27
October 2014.
The Directors recommend payment of a final single-tier dividend of 3.0 sen per ordinary share of 10 sen each in respect of
the financial year ended 31 December 2014 to be paid to shareholders registered in the Register of Members on a date to be
determined later by the Directors. Based on the issued and paid-up capital (less treasury shares) of the Company as at the date
of this report, the final dividend would amount to RM111.5 million.

SECTION 169(15) OF THE COMPANIES ACT, 1965 (contd)
RESERVES AND PROVISIONS
There were no other material transfers to or from reserves or provisions during the financial year other than as disclosed in the
financial statements.
ISSUE OF SHARES AND DEBENTURES
During the financial year, 23,564,936 new ordinary shares of RM0.10 each were issued by virtue of the exercise of 23,564,936
warrants to subscribe for 23,564,936 ordinary shares of RM0.10 each in the capital of the Company at an exercise price of
RM7.96 per ordinary share pursuant to the non-renounceable restricted issue of 764,201,920 new warrants in the Company
(Warrants 2013/2018).
All the above mentioned ordinary shares rank pari passu with the then existing ordinary shares of the Company.
There was no issue of debentures during the financial year.
SHARE OPTIONS
No options have been granted by the Company to any parties during the financial year to take up unissued shares of the
Company.
No shares have been issued during the financial year by virtue of the exercise of any option to take up unissued shares of the
Company. As at the end of the financial year, there were no unissued shares of the Company under options.
WARRANTS 2013/2018
The Warrants 2013/2018 are constituted by a Deed Poll dated 12 November 2013. The Warrants 2013/2018 are listed on the
Main Market of Bursa Malaysia Securities Berhad with effect from 23 December 2013.
Each Warrant carries the right to subscribe for 1 new ordinary share of RM0.10 each in the Company at any time from 19
December 2013 up to the expiry date on 18 December 2018, at an exercise price of RM7.96 for each new share. Any Warrant
not exercised by the expiry of the exercise period will lapse and cease to be valid for all purposes.
The ordinary shares issued from the exercise of Warrants 2013/2018 shall rank pari passu in all respects with the existing
issued ordinary shares of the Company except that they shall not be entitled to any dividends, rights, allotments and/or other
distributions, the entitlement date of which is prior to the date of allotment of the new shares arising from the exercise of
Warrants 2013/2018.
At the end of the financial year, there were 740,636,984 outstanding Warrants of the Company.
DIRECTORATE
The Directors who served since the date of the last report are:
Tan Sri Lim Kok Thay

Tun Mohammed Hanif bin Omar
Mr Lim Keong Hui
Dato Dr. R. Thillainathan
Dato Paduka Nik Hashim bin Nik Yusoff
Tan Sri Dr. Lin See Yan
Datuk Chin Kwai Yoong

DIRECTORATE (contd)
According to the Register of Directors Shareholdings, the following persons who were Directors of the Company at the end
of the financial year have interests in shares and/or warrants of the Company, Genting Malaysia Berhad, a company which is
49.3% owned by the Company as at 31 December 2014, Genting Plantations Berhad and Genting Singapore PLC, both of
which are subsidiaries of the Company, as set out below:
Interest in the Company
Shareholdings in which the Directors

have direct interests 1.1.2014 Acquired Disposed 31.12.2014
(Number of ordinary shares of 10 sen each)
Tan Sri Lim Kok Thay 10,500,000 - - 10,500,000
Tun Mohammed Hanif bin Omar 306,000 - - 306,000
Dato Dr. R. Thillainathan 20,000 - - 20,000
Shareholdings in which the Director
has indirect/deemed interest
Tan Sri Lim Kok Thay - 57,619,980* - 57,619,980*
Interest of Spouse/Child of the Director

Warrantholdings in which the Directors Exercised/
(Number of warrants 2013/2018)
Interest in Genting Malaysia Berhad

Tan Sri Dr. Lin See Yan 450,000 - - 450,000
Interest in Genting Plantations Berhad

Shareholding in which the Director
has direct interest 1.1.2014 Acquired Disposed 31.12.2014
Tan Sri Lim Kok Thay 369,000 - - 369,000
Warrantholding in which the Director has Exercised/

direct interest 1.1.2014 Acquired Disposed 31.12.2014
(Number of warrants 2013/2019)
Tan Sri Lim Kok Thay 73,800 - - 73,800

DIRECTORATE (contd)
Interest in Genting Singapore PLC (GENS)

(Number of ordinary shares)
Tan Sri Lim Kok Thay 6,036,100 1,275,000 - 7,311,100
Dato Dr. R. Thillainathan 469,000 891,000 - 1,360,000
Dato Paduka Nik Hashim bin Nik Yusoff - 296,192 - 296,192
Tan Sri Dr. Lin See Yan 500,000 - 300,000 200,000

have indirect/deemed interests
Tan Sri Lim Kok Thay - 6,353,828,069# - 6,353,828,069#

Mr Lim Keong Hui - 6,353,828,069 #
- 6,353,828,069#
1.1.2014 Offered Exercised 31.12.2014
(Number of unissued ordinary shares)
Share Option in the names of Directors
Tun Mohammed Hanif bin Omar 1,188,292 - - 1,188,292
Dato Dr. R. Thillainathan 1,113,438 - 891,000 222,438
Dato Paduka Nik Hashim bin Nik Yusoff 296,192 - 296,192 -
Tan Sri Dr. Lin See Yan 296,292 - - 296,292
Performance Shares in the

name of a Director 1.1.2014 Awarded Vested 31.12.2014
(Number of unissued ordinary shares)
Tan Sri Lim Kok Thay 2,250,000@ 750,000@ 1,275,000 1,725,000@
Legend:
* Deemed interest through Time Life Equity Sdn Bhd (TLE)(under members voluntary liquidation), a company which is owned
by Tan Sri Lim Kok Thay. TLE also holds 14,404,995 warrants in the Company.

#
Deemed interest through Parkview Management Sdn Bhd (PMSB) on account of Tan Sri Lim Kok Thay and Mr Lim Keong
Hui being beneficiaries of a discretionary trust of which PMSB is the trustee, in accordance with the Singapore Companies Act.
PMSB as trustee of the discretionary trust is deemed interested in the GENS shares held by Kien Huat Realty Sdn Berhad
(KHR) and Genting Overseas Holdings Limited, a wholly owned subsidiary of the Company. KHR controls more than 20% of
the voting capital of the Company.
@
Represents the right of the participant to receive ordinary shares, upon the participant satisfying the criteria set out in the
Performance Share Scheme of GENS and upon satisfying such conditions as may be imposed.
Apart from the above disclosures:
(a) the Directors of the Company do not have any other interests in shares in the Company and in shares in other related
corporations of the Company either at the beginning or end of the financial year; and
(b) neither during nor at the end of the financial year, was the Company a party to any arrangement whose object is to enable
the Directors to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body
corporate.

DIRECTORATE (contd)
Since the end of the previous financial year, no Director of the Company has received or become entitled to receive a benefit
(other than a benefit included in the aggregate amount of emoluments received or due and receivable by the Directors and the
provision for Directors retirement gratuities shown in the financial statements) by reason of a contract made by the Company or
a related corporation with the Director or with a firm of which he is a member or with a company in which he has a substantial
financial interest except for any benefit which may be deemed to have arisen by virtue of the following transactions:
(i) A corporation in which Tan Sri Lim Kok Thay is a director and has substantial financial interest, has:

(a) leased an office premise on the 10th Floor, Genting Centre, Singapore from Resorts World Properties Pte. Ltd., a wholly
owned subsidiary of GENS, which in turn is an indirect 52.5% owned subsidiary of the Company.

(b) been appointed by Genting Malaysia Berhad (GENM), a company which is 49.3% owned by the Company, as the
consultant for theme park and resort development and operations of the Resorts World Genting at Genting Highlands.
(ii) Tan Sri Lim Kok Thay had disposed of an art sculpture to GENM.
(iii) Transactions made by the Company or its related corporations with certain corporations referred to in Note 48 in which the
nature of relationships of Tan Sri Lim Kok Thay and Mr Lim Keong Hui are disclosed therein.
Tan Sri Lim Kok Thay is due to retire by rotation at the forthcoming Annual General Meeting (AGM) in accordance with Article
99 of the Articles of Association of the Company and he, being eligible, has offered himself for re-election.
Tun Mohammed Hanif bin Omar, Dato Dr. R. Thillainathan, Dato Paduka Nik Hashim bin Nik Yusoff and Tan Sri Dr. Lin See
Yan will retire pursuant to Section 129 of the Companies Act, 1965 at the forthcoming AGM and that separate resolutions will
be proposed for their re-appointment as Directors at the AGM under the provision of Section 129(6) of the said Act to hold
office until the next AGM of the Company.
OTHER STATUTORY INFORMATION
Before the income statements, statements of comprehensive income and statements of financial position of the Group and of
the Company were made out, the Directors took reasonable steps:
(i) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of allowances for
doubtful debts, and satisfied themselves that all known bad debts had been written off and adequate allowance had been
made for doubtful debts; and
(ii) to ensure that any current assets which were unlikely to realise in the ordinary course of business their values as shown in
the accounting records, were written down to an amount which they might be expected so to realise.
At the date of this report, the Directors are not aware of any circumstances:
(i) which would render the amount written off for bad debts or the amount of the allowance for doubtful debts in the Group
and in the Company inadequate to any substantial extent;
(ii) which would render the values attributed to the current assets in the financial statements of the Group or of the Company
misleading;
(iii) which have arisen which render adherence to the existing methods of valuation of assets or liabilities in the financial
statements of the Group and of the Company misleading or inappropriate; and
(iv) not otherwise dealt with in this report or in the financial statements of the Group and of the Company, that would render
any amount stated in the respective financial statements misleading.

OTHER STATUTORY INFORMATION (contd)
At the date of this report there does not exist:
(i) any charge on the assets of the Group or of the Company that has arisen since the end of the financial year which secures
the liabilities of any other person; or
(ii) any contingent liability in respect of the Group or of the Company that has arisen since the end of the financial year.
No contingent or other liability of the Group or of the Company has become enforceable, or is likely to become enforceable
within the period of twelve months after the end of the financial year which, in the opinion of the Directors, will or may
substantially affect the ability of the Group or of the Company to meet their obligations as and when they fall due.
In the opinion of the Directors:
(i) the results of the operations of the Group and of the Company for the financial year have not been substantially affected
by any item, transaction or event of a material and unusual nature except for those disclosed in the financial statements;
and
(ii) no item, transaction or event of a material and unusual nature has arisen in the interval between the end of the financial
year and the date of this report which is likely to affect substantially the results of the operations of the Group and of the
Company for the financial year in which this report is made.
STATEMENT BY DIRECTORS PURSUANT TO SECTION 169(15) OF THE COMPANIES ACT, 1965
In the opinion of the Directors, the financial statements set out on pages 69 to 163 are drawn up so as to give a true and fair
view of the state of affairs of the Group and of the Company as at 31 December 2014 and of the results and the cash flows of
the Group and of the Company for the financial year ended on that date in accordance with Financial Reporting Standards, the
Malaysian Accounting Standards Board Approved Accounting Standards in Malaysia for Entities Other Than Private Entities and
comply with the provisions of the Companies Act, 1965.
AUDITORS
The auditors, PricewaterhouseCoopers, have expressed their willingness to continue in office.
On behalf of the Board,
TUN MOHAMMED HANIF BIN OMAR TAN SRI DR. LIN SEE YAN
Deputy Chairman Director
Kuala Lumpur
26 February 2015

INCOME STATEMENTS
for the Financial Year Ended 31 December 2014
Amounts in RM million unless otherwise stated

Group Company
Note(s) 2014 2013 2014 2013
Revenue 5&6 18,216.5 17,111.7 1,005.5 2,129.0
Cost of sales 7 (11,906.3) (10,686.4) (96.3) (90.0)
Gross profit 6,310.2 6,425.3 909.2 2,039.0
Other income
- net fair value gain on derivative financial
instruments - 312.4 5.6 -
- others 1,262.7 701.3 121.7 114.7
Selling and distribution costs (382.1) (354.8) - -
Administration expenses (1,385.7) (1,646.5) (17.2) (86.8)
Reversal of previously recognised impairment losses 8 22.6 11.1 - -
Impairment losses 8 (265.0) (109.2) (88.4) -
Other expenses
- net fair value loss on derivative financial
instruments (415.3) - - -
- others (497.4) (602.4) (27.6) (6.0)
Finance cost 9 (437.0) (460.0) (216.9) (228.8)
Share of results in joint ventures 24 86.3 119.7 - -
Share of results in associates 25 (37.0) (52.7) - -
Profit before taxation 5&9 4,262.3 4,344.2 686.4 1,832.1
Taxation 12 (1,108.7) (746.9) (120.8) (255.7)
Profit for the financial year from
continuing operations 3,153.6 3,597.3 565.6 1,576.4
Discontinued operations:
(Loss)/Profit for the financial year from
discontinued operations 13 (7.5) 107.8 - -
Profit for the financial year 3,146.1 3,705.1 565.6 1,576.4
Profit attributable to:

Equity holders of the Company 1,496.1 1,810.1 565.6 1,576.4
Holders of perpetual capital securities of a
subsidiary 311.5 305.7 - -
Non-controlling interests 1,338.5 1,589.3 - -
3,146.1 3,705.1 565.6 1,576.4
Earnings/(Loss) per share for profit attributable to the

equity holders of the Company:
Basic (sen)
- from continuing operations 14 40.47 46.07
- from discontinued operations 14 (0.20) 2.92
40.27 48.99
Diluted (sen)
- from continuing operations 14 38.96 45.97
- from discontinued operations 14 (0.19) 2.92
38.77 48.89

STATEMENTS OF COMPREHENSIVE INCOME

Group Company
Note 2014 2013 2014 2013
Profit for the financial year 3,146.1 3,705.1 565.6 1,576.4

Other comprehensive income/(loss)
Item that will not be reclassified

subsequently to profit or loss:
Actuarial (loss)/gain on retirement benefit liability (7.0) 1.3 - -
(7.0) 1.3 - -
Items that will be reclassified

subsequently to profit or loss:
Available-for-sale financial assets
- Fair value (loss)/gain (1,039.0) 1,639.0 - -
- Reclassification to profit or loss (274.4) (100.0) - -
(1,313.4) 1,539.0 - -
Cash flow hedges
- Fair value (loss)/gain (131.5) 1.3 - -
Share of other comprehensive income of
joint ventures 24 2.5 2.7 - -
Share of other comprehensive income of associates 25 15.4 6.3 - -
Net foreign currency exchange differences 1,443.1 1,872.2 - -
16.1 3,421.5 - -
Other comprehensive income
for the financial year, net of tax 12 9.1 3,422.8 - -
Total comprehensive income for the
financial year 3,155.2 7,127.9 565.6 1,576.4
Total comprehensive income attributable to:

Equity holders of the Company 1,428.2 3,995.5 565.6 1,576.4
Holders of perpetual capital securities of
a subsidiary 424.8 501.7 - -
3,155.2 7,127.9 565.6 1,576.4

STATEMENTS OF FINANCIAL POSITION
as at 31 December 2014
Group Company
Note 2014 2013 2014 2013
ASSETS
Non-Current Assets
Property, plant and equipment 16 25,887.6 24,570.2 2.6 3.9
Land held for property development 17 343.3 423.9 - -
Investment properties 18 1,729.6 1,589.5 - -
Plantation development 19 1,754.3 1,505.0 - -
Leasehold land use rights 20 305.3 238.7 - -
Intangible assets 21 5,414.0 5,330.0 - -
Rights of use of oil and gas assets 22 3,171.3 1,481.4 - -
Subsidiaries 23 - - 13,937.8 12,675.1
Amounts due from subsidiaries 23 - - 71.0 133.7
Joint ventures 24 637.6 205.8 - -
Associates 25 1,064.2 844.0 - -
Available-for-sale financial assets 27 2,856.2 3,936.1 - -
Derivative financial instruments 42 99.1 112.1 - -
Other non-current assets 28 2,413.5 634.0 - -
Deferred tax assets 29 303.5 270.7 18.4 15.9
45,979.5 41,141.4 14,029.8 12,828.6
Current Assets
Property development costs 17 60.0 56.1 - -
Inventories 30 419.5 385.2 - -
Trade and other receivables 31 4,083.8 3,972.5 1.7 0.9
Current tax assets 32.8 20.5 - -
Amounts due from subsidiaries 23 - - 44.8 1,166.2
Amounts due from joint ventures 24 9.3 6.0 - -
Amounts due from associates 25 3.1 - - -
Financial assets at fair value through profit
or loss 26 7.2 3.8 - -
Available-for-sale financial assets 27 5,680.8 5,456.3 200.0 -
Restricted cash 32 584.2 420.1 - -
Cash and cash equivalents 32 16,391.2 17,963.7 923.7 1,341.0
27,274.4 28,293.6 1,170.2 2,508.1
Assets classified as held for sale 33 37.9 2,060.5 - -
27,312.3 30,354.1 1,170.2 2,508.1
Total Assets 73,291.8 71,495.5 15,200.0 15,336.7
EQUITY AND LIABILITIES
Equity Attributable to Equity Holders
of the Company
Share capital 34 374.3 371.9 374.3 371.9
Treasury shares 35 (212.5) (210.9) (212.5) (210.9)
Reserves 36 26,669.1 25,153.0 11,304.4 10,590.8
26,830.9 25,314.0 11,466.2 10,751.8
Perpetual capital securities of a subsidiary 37 6,098.9 5,985.6 - -
Total Equity 53,058.7 50,572.6 11,466.2 10,751.8
Non-Current Liabilities
Long term borrowings 38 10,714.9 10,824.1 - -
Amounts due to subsidiaries 23 - - 3,591.8 3,441.6
Deferred tax liabilities 29 1,416.0 1,486.0 - -
Provisions 39 409.5 265.1 78.3 91.1
Other non-current liabilities 40 42.0 44.4 - -
12,786.2 12,642.2 3,670.1 3,532.7
Current Liabilities
Trade and other payables 41 4,347.3 4,098.8 35.2 33.6
Amounts due to subsidiaries 23 - - 17.4 995.9
Amounts due to joint ventures 24 29.0 57.9 - -
Short term borrowings 38 1,837.7 2,561.3 - -
Taxation 574.0 507.1 11.1 22.7
7,446.2 7,260.6 63.7 1,052.2
Liabilities classified as held for sale 33 0.7 1,020.1 - -
7,446.9 8,280.7 63.7 1,052.2
Total Liabilities 20,233.1 20,922.9 3,733.8 4,584.9
Total Equity and Liabilities 73,291.8 71,495.5 15,200.0 15,336.7

STATEMENTS OF CHANGES IN EQUITY
Attributable to equity holders of the Company

Perpetual
Fair Cash Flow Reserve on Capital Non-
Share Share Warrants Revaluation Value Hedge Exchange Retained Treasury Securities of controlling Total
Note(s) Capital Premium Reserve Reserve Reserve Reserve Differences Earnings Shares Total a Subsidiary Interests Equity
Group
At 1 January 2014 371.9 1,195.5 1,144.4 307.2 2,093.9 (1.6) 161.9 20,251.7 (210.9) 25,314.0 5,985.6 19,273.0 50,572.6
Profit for the
financial year - - - - - - - 1,496.1 - 1,496.1 311.5 1,338.5 3,146.1
Other
comprehensive
(loss)/income - - - - (834.4) (123.3) 891.0 (1.2) - (67.9) 113.3 (36.3) 9.1
Total
comprehensive
(loss)/income
for the financial
year - - - - (834.4) (123.3) 891.0 1,494.9 - 1,428.2 424.8 1,302.2 3,155.2
Transfer due to
realisation of
revaluation
reserve - - - (1.3) - - - 1.3 - - - - -
Transactions with
owners:
Effects arising
from changes in
composition of
the Group - - - - - - - (83.8) - (83.8) - 268.8 185.0
Buy-back of
shares by the
subsidiaries - - - - - - - - - - - (454.8) (454.8)
Effects of share-
based payment - - - - - - - - - - - 85.9 85.9
Perpetual capital
securities
distribution
payable and
paid by a
subsidiary - - - - - - - - - - (311.5) - (311.5)
Tax credit arising
from perpetual
capital securities
of a subsidiary - - - - - - - 23.7 - 23.7 - 22.0 45.7
Total changes
in ownership
interests in
subsidiaries that
do not result in
loss of control - - - - - - - (60.1) - (60.1) (311.5) (78.1) (449.7)
Issue of shares
upon exercise of 34 &
warrants 36 2.4 220.5 (35.3) - - - - - - 187.6 - - 187.6
Buy-back of shares
by the Company - - - - - - - - (1.6) (1.6) - - (1.6)
Dividend paid to
non-controlling
interests - - - - - - - - - - - (368.2) (368.2)
Appropriation:
Interim single-tier
dividend for
the financial
year ended
31 December
2014 15 - - - - - - - (37.2) - (37.2) - - (37.2)
Total contributions
by and
distributions to
owners 2.4 220.5 (35.3) - - - - (37.2) (1.6) 148.8 - (368.2) (219.4)
Total transactions
with owners 2.4 220.5 (35.3) - - - - (97.3) (1.6) 88.7 (311.5) (446.3) (669.1)
Balance as at
31 December
2014 374.3 1,416.0 1,109.1 305.9 1,259.5 (124.9) 1,052.9 21,650.6 (212.5) 26,830.9 6,098.9 20,128.9 53,058.7

STATEMENTS OF CHANGES IN EQUITY (contd)
Attributable to equity holders of the Company

Perpetual
Fair Cash Flow Reserve on Capital Non-
Share Share Warrants Revaluation Value Hedge Exchange Retained Treasury Securities of controlling Total
Note Capital Premium Reserve Reserve Reserve Reserve Differences Earnings Shares Total a Subsidiary Interests Equity
Group
At 1 January 2013 371.9 1,195.5 - 311.6 1,022.7 (2.0) (951.3) 19,961.6 (210.3) 21,699.7 5,789.5 16,979.4 44,468.6
Profit for the
financial year - - - - - - - 1,810.1 - 1,810.1 305.7 1,589.3 3,705.1
Other
comprehensive
income - - - - 1,071.2 0.4 1,113.2 0.6 - 2,185.4 196.0 1,041.4 3,422.8
Total
comprehensive
income for the
financial year - - - - 1,071.2 0.4 1,113.2 1,810.7 - 3,995.5 501.7 2,630.7 7,127.9
Transfer due to
realisation of
revaluation
reserve - - - (4.4) - - - 4.4 - - - - -
Transactions with
owners:
Effects arising
from changes in
composition of
the Group - - - - - - - (33.5) - (33.5) - 13.5 (20.0)
Buy-back of
shares by the
subsidiaries - - - - - - - - - - - (4.3) (4.3)
Issue of warrants
by a subsidiary - - - - - - - - - - - 92.2 92.2
Effects of share-
based payment - - - - - - - - - - - 44.9 44.9
Perpetual capital
securities
distribution
payable and paid
by a subsidiary - - - - - - - - - - (305.6) - (305.6)
Tax credit arising
from perpetual
capital
securities of a
subsidiary - - - - - - - 18.7 - 18.7 - 17.2 35.9
Total changes
in ownership
interests in
subsidiaries
that do not
result in loss of
control - - - - - - - (14.8) - (14.8) (305.6) 163.5 (156.9)
Issue of warrants 36 - - 1,144.4 - - - - - - 1,144.4 - - 1,144.4
Buy-back of shares
by the Company - - - - - - - - (0.6) (0.6) - - (0.6)
Dividend paid to
non-controlling
interests - - - - - - - - - - - (500.6) (500.6)
Appropriation:
Final dividend for
the financial
year ended
31 December
2012 15 - - - - - - - (124.7) - (124.7) - - (124.7)
Special interim
cash dividend
for the financial
year ended 31
December 2013 15 - - - - - - - (1,385.5) - (1,385.5) - - (1,385.5)
Total contributions
by and
distributions to
owners - - 1,144.4 - - - - (1,510.2) (0.6) (366.4) - (500.6) (867.0)
Total transactions
with owners - - 1,144.4 - - - - (1,525.0) (0.6) (381.2) (305.6) (337.1) (1,023.9)
Balance as at
31 December
2013 371.9 1,195.5 1,144.4 307.2 2,093.9 (1.6) 161.9 20,251.7 (210.9) 25,314.0 5,985.6 19,273.0 50,572.6

STATEMENTS OF CHANGES IN EQUITY (contd)
Distributable
Share Share Warrants Retained Treasury
Note(s) Capital Premium Reserve Earnings Shares Total
Company
At 1 January 2014 371.9 1,195.5 1,144.4 8,250.9 (210.9) 10,751.8
Profit for the financial year - - - 565.6 - 565.6
Transactions with owners:
Issue of share upon exercise
of warrants 34 & 36 2.4 220.5 (35.3) - - 187.6
Buy-back of shares - - - - (1.6) (1.6)
Appropriation:
Interim single-tier dividend for the
financial year ended
31 December 2014 15 - - - (37.2) - (37.2)
Total transactions with owners 2.4 220.5 (35.3) (37.2) (1.6) 148.8
Balance as at 31 December 2014 374.3 1,416.0 1,109.1 8,779.3 (212.5) 11,466.2
At 1 January 2013 371.9 1,195.5 - 8,184.7 (210.3) 9,541.8

Profit for the financial year - - - 1,576.4 - 1,576.4
Transactions with owners:
Issue of warrants 36 - - 1,144.4 - - 1,144.4
Buy-back of shares - - - - (0.6) (0.6)
Appropriation:
Final dividend for the financial
year ended 31 December 2012 15 - - - (124.7) - (124.7)
Special interim cash dividend for the
financial year ended
31 December 2013 15 - - - (1,385.5) - (1,385.5)
Total transactions with owners - - 1,144.4 (1,510.2) (0.6) (366.4)
Balance as at 31 December 2013 371.9 1,195.5 1,144.4 8,250.9 (210.9) 10,751.8

STATEMENTS OF CASH FLOWS

Group Company
Note 2014 2013 2014 2013
CASH FLOWS FROM OPERATING ACTIVITIES

Profit before taxation
- Continuing operations 4,262.3 4,344.2 686.4 1,832.1
- Discontinued operations 12.3 152.1 - -
4,274.6 4,496.3 686.4 1,832.1
Adjustments for:
Depreciation and amortisation 1,824.2 1,793.4 1.5 1.6
Impairment losses and write off of receivables 689.2 463.3 - -
Finance cost 465.4 518.3 216.9 228.8
Net fair value loss/(gain) on derivative financial instruments 415.3 (312.4) (5.6) -
Impairment losses 265.0 109.2 88.4 -
Provision for share-based payments 86.0 44.6 - -
Assets classified as held for sale written down 73.5 - - -
Property, plant and equipment (PPE) written off 71.3 82.9 - -
Fair value adjustment of long term receivables 39.4 12.4 - -
Share of results in associates 37.0 52.7 - -
Provision for retirement gratuities 35.3 41.0 9.8 12.1
Provision/(Reversal of provision) for onerous lease 8.1 (7.8) - -
Loss on disposal of discontinued operations 13(a) 3.5 - - -
Inventories written off 1.7 0.7 - -
Net loss on disposal of PPE 0.6 4.9 - -
Net gain on disposal of available-for-sale financial assets (419.0) (100.0) - -
Interest income (383.3) (275.6) (65.6) (83.7)
Net unrealised exchange (gain)/loss (174.7) 22.9 (10.8) (21.3)
Dividend income (116.2) (45.9) (388.1) (1,485.5)
Share of results in joint ventures (86.3) (119.7) - -
Income from available-for-sale financial assets (25.7) (24.3) (5.8) (4.4)
Reversal of previously recognised impairment losses (22.6) (11.1) - -
Construction profit (10.3) (2.3) - -
Net surplus arising from compensation in respect of land
acquired by the Government (7.4) (0.3) - -
Gain on disposal of assets held for sale (7.1) - - -
Gain on deemed dilution of shareholdings in associates (6.0) (40.4) - -
Net fair value (gain)/loss on financial assets at fair value
through profit or loss (3.0) 0.2 - -
Loss on disposal of subsidiaries - 2.8 - -
Reversal of contingent losses - - (22.5) (1.9)
Waiver of net amount due from a wholly owned subsidiary - - 22.4 -
Other non-cash items 7.2 13.1 - (0.3)
2,761.1 2,222.6 (159.4) (1,354.6)
Operating profit before changes in working capital 7,035.7 6,718.9 527.0 477.5
Working capital changes:
Property development costs 52.0 41.7 - -
Inventories (25.4) 23.8 - -
Receivables (1,783.9) (1,292.0) 5.5 0.1
Payables 315.3 451.6 1.6 9.4
Amounts due from/to associates (3.1) 0.1 - -
Amounts due from/to joint ventures (30.9) 33.7 - -
Amounts due from subsidiaries - - 0.7 7.9
(1,476.0) (741.1) 7.8 17.4
Cash generated from operations 5,559.7 5,977.8 534.8 494.9
Taxation paid (1,168.8) (1,302.1) (135.0) (152.5)
Payment of retirement gratuities (5.6) (7.5) (0.1) (0.5)
Advance membership fees (3.3) (5.7) - -
Taxation refunded 32.5 21.8 - -
Other operating activities (15.2) (16.7) - -
(1,160.4) (1,310.2) (135.1) (153.0)
NET CASH FLOW FROM OPERATING ACTIVITIES 4,399.3 4,667.6 399.7 341.9

STATEMENTS OF CASH FLOWS (contd)

Group Company
Note 2014 2013 2014 2013
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investments (3,926.3) (3,922.5) (1,664.4) (3,135.2)
Purchase of PPE (2,669.9) (3,896.1) (0.2) (0.9)
Payment for rights of use of oil and gas assets (1,480.2) (456.2) - -
Acquisition of an associate (254.0) - - -
Loan to an associate (253.1) - - -
Acquisition of subsidiaries* (228.4) (2.6) - -
Purchase of plantation development (113.6) (180.6) - -
Purchase of investment properties (70.2) (267.2) - -
Purchase of leasehold land use rights (45.3) (21.5) - -
Long term prepaid lease (32.7) - - -
Purchase of intangible assets (25.7) (218.1) - -
Costs incurred on land held for property development (17.6) (7.0) - -
Proceeds from disposal of investments 4,385.4 2,439.5 - 200.0
Interest received 277.8 251.3 34.8 42.3
Dividends received 114.8 45.9 388.1 1,363.5
Net proceeds received from divestment in a subsidiary 31.8 - - -
Dividends received from joint ventures 29.4 - - -
Net cash inflow arising on disposal of discontinued operations 13(d) 29.7 - - -
Income received from available-for-sale financial assets 25.0 24.1 5.1 4.7
Proceeds from disposal of PPE 14.1 6.6 - 0.1
Proceeds from disposal of assets classified as held for sale 9.4 - - -
Dividends received from associates 8.9 4.5 - -
Redemption of preference shares by subsidiary 8.1 - - -
Net cash outflow arising on disposal of subsidiaries - (9.5) - -
Proceeds from disposal of joint ventures - 177.5 - -
Proceeds from redemption of shares by a subsidiary - - 113.3 -
Advances to subsidiaries - - (65.7) (162.8)
Other investing activities 6.1 6.9 - -
NET CASH FLOWS USED IN INVESTING ACTIVITIES (4,176.5) (6,025.0) (1,189.0) (1,688.3)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of borrowings and transaction costs (3,444.6) (2,873.2) - -
Finance cost paid (459.4) (469.2) (79.3) (171.4)
Buy-back of shares by the subsidiaries (454.8) (4.3) - -
Dividends paid to non-controlling interests (368.2) (500.6) - -
Perpetual capital securities distribution paid (311.5) (305.6) - -
Restricted cash (123.8) (64.8) - -
Dividends paid (37.2) (1,510.2) (37.2) (1,510.2)
Buy-back of shares by the Company (1.6) (0.6) (1.6) (0.6)
Proceeds from bank borrowings 2,291.6 2,008.9 - -
Proceeds from issue of shares upon exercise of warrants 187.6 - 187.6 -
Proceeds from issue of shares to non-controlling interests 92.8 5.6 - -
Acquisition of additional shares from non-controlling interests - (48.0) - -
Net proceeds from issue of warrants by a subsidiary to
non-controlling interest - 92.2 - -
Net proceeds from issue of warrants by the Company - 1,144.4 - 1,144.4
Borrowing from a subsidiary and transaction costs - - 150.0 -
Repayment of borrowing from a subsidiary - - 1,110.1 -
Repayment of borrowing to a subsidiary - - (970.2) -
Other financing activities 8.6 44.9 - -
NET CASH FLOW (USED IN)/FROM FINANCING ACTIVITIES (2,620.5) (2,480.5) 359.4 (537.8)
NET DECREASE IN CASH AND CASH EQUIVALENTS (2,397.7) (3,837.9) (429.9) (1,884.2)
CASH AND CASH EQUIVALENTS AT BEGINNING OF
FINANCIAL YEAR 18,308.7 21,267.0 1,341.0 3,210.2
EFFECT OF CURRENCY TRANSLATION 480.2 879.6 12.6 15.0
CASH AND CASH EQUIVALENTS AT END OF
FINANCIAL YEAR 16,391.2 18,308.7 923.7 1,341.0
ANALYSIS OF CASH AND CASH EQUIVALENTS
Bank balances and deposits 32 14,792.2 15,443.3 501.2 495.2
Money market instruments 32 1,599.0 2,520.4 422.5 845.8
16,391.2 17,963.7 923.7 1,341.0
Bank balances and deposits from discontinued operations
(included in assets classified as held for sale) 33 - 345.0 - -
16,391.2 18,308.7 923.7 1,341.0
STATEMENTS OF CASH FLOWS (contd)
NOTES TO CONSOLIDATED STATEMENTS OF CASH FLOWS
* Acquisition of Subsidiaries

(a) Fair value of net assets acquired and net cash outflow on acquisition of a subsidiary are analysed as follows:

2014
As at the date
of acquisition
Property, plant and equipment (46.6)

Plantation development (80.7)
Trade and other receivables (14.9)
Trade and other payables 1.6
Fair value of net identifiable assets (140.6)
Non-controlling interests measured at proportionate share of net assets (3.1)
Goodwill arising from acquisition (51.7)
Net cash outflow on acquisition of a subsidiary/Total purchase consideration (195.4)
This relates to acquisition of subsidiaries as disclosed in Note 46(e) to the financial statements. The purchase price
allocation of the acquisition was provisional as at 31 December 2014 and the Group expects to complete the final
purchase price allocation exercise within the twelve-month period from the acquisition date.
The revenue and the net loss of the above acquired subsidiary which have been included in the consolidated income
statement of the Group for the period from the date of acquisition to 31 December 2014 amounted to Nil and RM21.7
million respectively. Had the acquisition taken effect on 1 January 2014, the revenue and net loss of the above
acquired subsidiary which would be included in the consolidated income statement of the Group would be RM1.9
million and RM27.9 million respectively. These amounts have been determined using the Groups accounting policies.
(b) Fair value of net assets acquired and net cash outflow on acquisition of a subsidiary by Genting Plantations Berhad
(GENP) Group, which is 53.8% owned by the Company, are analysed as follows:
2014
As at the date
of acquisition
Property, plant and equipment (32.9)

Other receivables (0.1)
Identifiable net assets acquired/Purchase consideration paid (33.0)
This relates to acquisition of the entire equity interest of SPC Biodiesel Sdn Bhd by GP Overseas Limited, a wholly
owned subsidiary of GENP on 21 February 2014. The GENP Group had completed the final purchase price allocation
exercise on the above acquisition during the current financial year.
The revenue and the net profit of the above acquired subsidiary which have been included in the consolidated income
statement of the Group for the period from the date of acquisition to 31 December 2014 amounted to RM86.5 million
and RM5.1 million respectively. Had the acquisition taken effect on 1 January 2014, the revenue and net profit of
the above acquired subsidiary which would be included in the consolidated income statement of the Group would be
RM86.5 million and RM4.9 million respectively. These amounts have been determined using the Groups accounting
policies.

NOTES TO THE FINANCIAL STATEMENTS
31 December 2014
1. CORPORATE INFORMATION and estimations are based on Directors best knowledge of

current events and actions, actual results could differ from
Genting Berhad (the Company) is a public limited liability those judgements and estimations.
company incorporated and domiciled in Malaysia, and
is listed on the Main Market of Bursa Malaysia Securities (a) Judgements and estimations
Berhad. The registered office of the Company is 24th Floor,
Wisma Genting, Jalan Sultan Ismail, 50250 Kuala Lumpur. In the process of applying the Groups accounting policies,
management makes judgements and estimations that
The Company is principally an investment holding and can significantly affect the amount recognised in the
management company. financial statements. These judgements and estimations
include:
The principal activities of the subsidiaries include leisure
and hospitality, gaming and entertainment businesses, (i) Income taxes
development and operation of integrated resort, plantation,
the generation and supply of electric power, property The Group is subject to income taxes in numerous
development and management, tours and travel related jurisdictions in which the Group operates. Significant
services, genomics research and development, investments judgement is required in determining the provision
and oil and gas exploration, development and production for income taxes. There are transactions and
activities. calculations for which the ultimate tax determination
is uncertain during the ordinary course of business.
Details of the principal activities of the subsidiaries, joint The Group recognises liabilities for tax based on
ventures and associates are set out in Note 49 to the estimates of assessment of the tax liability due. The
financial statements. Group also recognised certain tax recoverables for
which the Group believes that there is reasonable
There have been no significant changes in the nature of basis for recognition. Where the final tax outcome
the activities of the Group and of the Company during the of these matters is different from the amounts that
financial year. were initially recorded, such differences will impact
the income tax and deferred tax provisions and tax
2. BASIS OF PREPARATION recoverable balance in the period in which such
determination is made.
The financial statements of the Group and the Company have
been prepared in accordance with and comply with Financial (ii) Exploration costs
Reporting Standards (FRS), the Malaysian Accounting
Standards Board (MASB) Approved Accounting Standards il and gas exploration cost is accounted for
O
in Malaysia for Entities Other Than Private Entities and the in accordance with the full cost method. Under
provisions of the Companies Act, 1965. this method, all costs relating to the exploration
activities are capitalised when incurred.
The Group, which includes transitioning entities, has elected
to continue to apply FRS for the current financial year. The Oil and gas exploration cost is written off to the
Group will be adopting the new IFRS-compliant framework, profit or loss when:
Malaysian Financial Reporting Standards (MFRS) from the
financial year beginning on 1 January 2017. In adopting the - it is determined that further exploration
new framework, the Group will be applying MFRS 1 First- activities will not yield commercial quantities
time adoption of MFRS. of reserves, no further exploration drilling is
planned and there is no existing production in
The financial statements have been prepared on a historical the block or field; or
cost basis, except as disclosed in the significant accounting
policies below. - the petroleum contract has expired or is
surrendered.
The preparation of financial statements in conformity with
FRS requires the Directors to make judgements, estimations In making decisions about whether to continue to
and assumptions that affect the reported amounts of capitalise exploration drilling costs, it is necessary
assets and liabilities and disclosure of contingent assets to make judgements about the satisfaction of the
and liabilities at the date of the financial statements and above conditions after technical, commercial and
the reported amounts of revenues and expenses during management reviews. The Group is committed to
the reported financial year. It also requires Directors to continue exploring and developing these interests.
exercise their judgements in the process of applying the
Groups accounting policies. Although these judgements
NOTES TO THE FINANCIAL STATEMENTS (contd)
31 December 2014
2. BASIS OF PREPARATION (contd) (vi) Impairment of property, plant and equipment

(a) Judgements and estimations (contd) The Group tests property, plant and equipment
for impairment if there is any objective evidence
(iii) Intangible assets of impairment in accordance with the respective
accounting policies. The calculations require the
The Group tests goodwill and intangible assets with use of estimates as set out in Notes 8, 16 and 23.
indefinite useful life for impairment annually or
whenever events indicate that the carrying amount (vii) Estimation of oil and gas reserves
may not be recoverable. The calculations require
the use of estimates as set out in Note 21. Oil and gas assets are amortised on a unit of
production (UOP) basis at a rate calculated by
In addition, the Group recognises costs incurred reference to total proved and probable reserves.
on development projects as intangible assets to The Group estimates its commercial reserves
the extent that the capitalisation criteria in FRS based on information compiled by appropriately
138 - Intangible Assets are met. The Group uses its qualified persons relating to the geological and
judgement in determining whether the milestones technical data on the size, depth, shape and grade
payments for research and development expertise of the hydrocarbon body and suitable production
and capacity in genomics meet the capitalisation techniques and recovery rates. Commercial reserves
criteria so as to enable the amount to be capitalised. are determined using estimates of oil and gas in
The future commercial viability of these intangible place, recovery factors and future commodity
assets is assessed by using discounted cash flow prices, the latter having an impact on the total
valuation technique, which requires the Group to use amount of recoverable reserves and the proportion
estimates and assumptions concerning the future. of the gross reserves which are attributable to the
host government under the terms of the petroleum
(iv) Impairment of trade receivables contract.

Management reviews its trade receivables for Changes to the Groups estimates of proved
objective evidence of impairment. Adverse changes or probable reserves will affect the amount of
in background reputation and financial capability depreciation, depletion and amortisation recorded
of the debtor, and default or significant delay in under the Rights of Use of Oil and Gas Assets. A
payments are considered objective evidence that reduction in the reserves will increase depreciation,
a receivable is impaired. In determining this, depletion and amortisation charges (assuming
management makes judgement as to whether there constant production) and therefore, reduce profit.
is observable data indicating that there has been
a significant change in the payment ability of the Although the possibility exists for changes in
debtor. estimated reserves to have a significant impact on
depreciation, depletion and amortisation charges
Where there is objective evidence of impairment, and, therefore, profit, it is expected that in the
management uses estimates based on credit- normal course of business the Group will continue
worthiness of the debtors, past repayment history to prioritise on timely projects delivery with the
for each debtor and historical loss experience for objective of maximising reserve recovery so as to
debtors with similar credit risk characteristics reduce the likelihood for the changes to occur.
to determine the amount to be impaired. The
methodology and assumptions used are reviewed (viii) Asset retirement obligations (ARO) oil and gas
regularly to reduce any differences between the
estimated loss and actual loss experience. The recognition of an ARO requires that management
make numerous estimates, assumptions and
(v) Construction contracts judgements regarding such factors as the existence
of a legal obligation for an ARO; estimated
The Group uses the percentage-of-completion probabilities, amounts and timing of settlements;
method to determine the appropriate amount the credit-adjusted risk-free rate to be used; and
to be recognised in a given period. When it is inflation rates. In periods subsequent to initial
probable that total contract costs will exceed total measurement of the ARO, the Group recognises
contract revenue, the expected loss is recognised period-to-period changes in the liability resulting
immediately as an expense to the profit or loss. from the passage of time and revisions to either
the timing or the amount of the original estimate
Significant judgement is required in the estimation of undiscounted cash flows. Revisions also result in
of total contract costs. Where the actual total increases or decreases in the carrying cost of the oil
contract costs is different from the estimated total and gas assets.
contract costs, such difference will impact the
contract profits/(losses) recognised.

31 December 2014
2. BASIS OF PREPARATION (contd) - Amendments to FRS 139 Novation of Derivatives

and Continuation of Hedged Accounting
(a) Judgements and estimations (contd)
- IC Interpretation 21 Levies
(ix) Provisional fair values of assets and liabilities
The adoption of these new FRSs, amendments and IC
The Group made several acquisitions during the interpretation does not have any significant impact on
financial year as disclosed in the statements of cash the financial performance or financial position of the
flows. The amounts of assets (including intangible Group and the Company.
assets) and liabilities arising from these acquisitions
have been determined based on provisional fair (c) Standards, amendments to published standards and
values assigned to the identifiable assets and interpretations to existing standards that are applicable
liabilities as at the respective acquisition dates and to the Group but not yet effective
hence have yet to be allocated to the Groups cash
generating units. The full list of standards, amendments to standards and
interpretations which are effective for annual periods
For all business combinations, the Group either beginning after 1 January 2015 are set out below:
undertook or is in the process of undertaking a
detailed review to determine the fair value of assets (i) Financial year beginning on/after 1 January 2015
and liabilities recognised at the date of acquisition.
Such reviews may include engaging third party - Annual Improvements to FRSs 2010-2012
advisors to determine the fair values of the cash Cycle (Amendments to FRS 2 Share-based
generating units of the entities acquired. Payment, FRS 3 Business Combinations,
FRS 8 Operating Segments, FRS 13 Fair
Any adjustments to these provisional values upon Value Measurement, FRS 116 Property,
finalisation of the detailed fair value exercise will Plant and Equipment, FRS 124 Related
be recognised within 12 months of the acquisition Party Disclosures and FRS 138 Intangible
date. The adjustments will be calculated as if the Assets).
fair values had been recognised on acquisition
date. Goodwill will also be adjusted to the amount - Annual Improvements to FRSs 2011-2013
that would have been recognised if the adjusted Cycle (Amendments to FRS 1 First-time
fair values had been used at acquisition date. As Adoption of Financial Reporting Standards,
a result, comparative information may be restated. FRS 3 Business Combinations, FRS 13 Fair
Value Measurement and FRS 140 Investment
(x) Impairment and valuation of available-for-sale Property).
financial assets
- Amendments to FRS 119 Defined Benefits
Pursuant to paragraph 61 of FRS 139, a significant Plans: Employee Contributions.
or prolonged decline in the fair value of an
investment in an equity instrument below its cost (ii) Financial year beginning on/after 1 January 2016
is objective evidence of impairment. The Group
has recognised an impairment loss in the income - FRS 14 Regulatory Deferral Accounts.
statement in respect of an equity investment
classified as available-for-sale financial assets as its - Amendments to FRS 11 Accounting for
quoted share price had declined significantly as at Acquisitions of Interests in Joint Operations.
31 December 2014 compared with the Groups cost
of investment. In addition, the measurements of - Amendments to FRS 116 and FRS 138
available-for-sale financial assets within Level 3 of Clarification of Acceptable Methods of
the fair value hierarchy are disclosed in Note 4(c). Depreciation and Amortisation.

(b) Standards, amendments to published standards and - Amendments to FRS 10 Consolidated
interpretations that are effective Financial Statements and FRS 128
Investment in associates and joint ventures
The new accounting standards, amendments and - Sale or contribution of assets between an
improvements to published standards and interpretations investor and its associates/ joint ventures.
that are effective for the Group and the Companys
financial year beginning on 1 January 2014 are as - Amendments to FRS 127 Separate Financial
follows: Statements - Equity accounting in separate
financial statements.
- Amendments to FRS 10, FRS 12 and FRS 127
Investment Entities - Amendments to FRS 101 Disclosure Initiative
- Amendments to FRS 132 Offsetting Financial - Annual Improvements to FRSs 2012-2014

Assets and Financial Liabilities Cycle (Amendments to FRS 5 Non-current
Assets Held for sale and Discontinued
- Amendments to FRS 136 Recoverable Amount Operations, FRS 7 Financial Instruments:
Disclosures for Non-Financial Assets Disclosures, FRS 119 Employee Benefits,
FRS 134 Interim Financial Reporting).
31 December 2014
2. BASIS OF PREPARATION (contd) There is now a new expected credit losses model on
impairment for all financial assets that replaces the
(c) Standards, amendments to published standards and incurred loss impairment model used in MFRS 139.
interpretations to existing standards that are applicable The expected credit losses model is forward-looking
to the Group but not yet effective (contd) and eliminates the need for a trigger event to have
occurred before credit losses are recognised.
(iii) Financial year beginning on/after 1 January 2017*
The adoption of MFRS 9 will result in a change in
- Malaysian Financial Reporting Standard accounting policy. The Group is currently assessing
(MFRS) 1 First-time adoption of MFRS. the financial impact of adopting MFRS 9.
- Amendments to MFRS 116 and MFRS 141 - The Group falls within the scope definition of
Agriculture: Bearer Plants. Transitioning Entities and accordingly, will adopt
the MFRS Framework for the financial year ending
- MFRS 15 Revenue from Contracts with 31 December 2017. In presenting its first MFRS
Customers. financial statements, the Group will be required
to restate the comparative financial statements
(iv) Financial year beginning on/after 1 January 2018* to amounts reflecting the application of MFRS
Framework. Adjustments required on transition, if
- MFRS 9 Financial Instruments. any, will be made retrospectively against opening
retained earnings. The Group is currently assessing
* These standards and amendments are to be the financial impact of adopting MFRS 15 and
effective from 1 January 2017 in conjunction with amendments to MFRS 116 and MFRS 141.
the adoption of MFRS Framework.
3. SIGNIFICANT ACCOUNTING POLICIES
The initial application of the above mentioned FRSs,
amendments and IC interpretations are not expected to Basis of Consolidation
have a significant impact to the financial statements of
the Group and the Company except as mentioned below: (a) Subsidiaries
- MFRS 9 Financial Instruments will replace MFRS Subsidiaries are all entities (including special purpose
139 Financial Instruments: Recognition and entities) over which the Group has control. The Group
Measurement. The complete version of MFRS 9 controls an entity when the Group is exposed to, or has
was issued in November 2014. rights to, variable returns from its involvement with
the entity and has the ability to affect those returns
MFRS 9 retains but simplifies the mixed through its power over the entity. Subsidiaries are
measurement model in MFRS 139 and establishes fully consolidated from the date on which control is
three primary measurement categories for financial transferred to the Group. They are deconsolidated from
assets: amortised cost, fair value through profit or the date that control ceases.
loss and fair value through other comprehensive
income (OCI). The basis of classification depends The Group applies the acquisition method to account for
on the entitys business model and the contractual business combinations. The consideration transferred
cash flow characteristics of the financial asset. for the acquisition of a subsidiary is the fair values of the
Investments in equity instruments are always assets transferred, the liabilities incurred to the former
measured at fair value through profit or loss with an owners of the acquiree and the equity interests issued
irrevocable option at inception to present changes by the Group. The consideration transferred includes
in fair value in OCI (provided the instrument is not the fair value of any asset or liability resulting from a
held for trading). A debt instrument is measured contingent consideration arrangement. Identifiable
at amortised cost only if the entity is holding it to assets acquired and liabilities and contingent liabilities
collect contractual cash flows and the cash flows assumed in business combination are measured initially
represent principal and interest. at their fair values at the acquisition date. The Group
recognises any non-controlling interest in the acquiree
For liabilities, the standard retains most of the on an acquisition-by-acquisition basis, either at fair value
MFRS 139 requirements. These include amortised or at the non-controlling interests proportionate share
cost accounting for most financial liabilities, with of the recognised amounts of acquirees identifiable net
bifurcation of embedded derivatives. The main assets.
change is that, in cases where the fair value option
is taken for financial liabilities, the part of a fair
value change due to an entitys own credit risk is
recorded in OCI rather than the income statement,
unless this creates an accounting mismatch.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) (c) Disposal of subsidiaries
Basis of Consolidation (contd) When the Group ceases to have control, any retained
interest in the entity is re-measured to its fair value at
(a) Subsidiaries (contd) the date when control is lost, with the change in carrying
amount recognised in profit or loss. The fair value is the
Acquisition-related costs are expensed as incurred. initial carrying amount for the purposes of subsequently
accounting for the retained interest as an associate,
If the business combination is achieved in stages, joint venture or financial asset. In addition, any amounts
previously held equity interest in the acquiree is previously recognised in other comprehensive income in
remeasured to fair value at the acquisition date and any respect of that entity are accounted for as if the Group
corresponding gain or loss is recognised in the profit or had directly disposed of the related assets or liabilities.
loss. This means that amounts previously recognised in OCI
are reclassified to the profit or loss.
Any contingent consideration to be transferred by the
Group is recognised at fair value at the acquisition date. (d) Joint arrangements
Subsequent changes to the fair value of the contingent
consideration that is deemed to be an asset or liability A joint arrangement is an arrangement of which there is
is recognised in accordance with FRS 139 either contractually agreed sharing of control by the Group with
in profit or loss or in OCI. Contingent consideration one or more parties, where decisions about the relevant
that is classified as equity is not remeasured, and its activities relating to the joint arrangement require
subsequent settlement is accounted for within equity. unanimous consent of the parties sharing control. The
classification of a joint arrangement as a joint operation
Goodwill is initially measured as the excess of the or a joint venture depends upon the rights and obligations
aggregate of the consideration transferred, the amount of the parties to the arrangement. A joint venture is a
of any non-controlling interest and the fair value of joint arrangement whereby the joint venturers have
any previous equity interest in the acquiree at the rights to the net assets of the arrangement.
acquisition date over the fair value of the net identifiable
assets acquired and liabilities assumed. If the total A joint operation is a joint arrangement whereby the
consideration transferred, non-controlling interest parties that have joint control of the arrangements have
recognised and previously held interest measured is less rights to the assets and obligations for the liabilities,
than the fair value of the net assets of the subsidiary relating to the arrangement. Joint control is based
acquired, the difference is recognised directly in the on the contractually agreed sharing of control of an
profit or loss. arrangement, and decisions of relevant activities would
require the unanimous consent of the parties sharing
Inter-company transactions, balances, income and control. The Group accounts for each of the assets,
expenses on transactions between group companies liabilities, revenue and expenses relating to its interest
are eliminated. Profits or losses resulting from inter- in a joint operation in accordance with its contractually
company transactions that are recognised in assets are conferred rights and obligations.
also eliminated. Where necessary, accounting policies for
subsidiaries have been changed to ensure consistency The Groups interests in joint ventures are accounted for
with the policies adopted by the Group. in the consolidated financial statements by the equity
method of accounting. Equity accounting involves
(b) Changes in ownership interests in subsidiaries without recognising the Groups share of the post acquisition
change of control results of joint ventures in the profit or loss and its
share of post acquisition movements within reserves
Transactions with non-controlling interests that do not in other comprehensive income. The cumulative post
result in loss of control are accounted for as equity acquisition movements are adjusted against the cost of
transactions that is, as transactions with the owners the investment and include goodwill on acquisition less
in their capacity as owners. The difference between impairment losses, where applicable. See accounting
fair value of any consideration paid and the relevant policy note on impairment of non-financial assets.
share acquired of the carrying value of net assets of
the subsidiary is recorded in equity. Gains or losses on The Group recognises the portion of gains or losses on
disposals to non-controlling interests are also recorded the sale of assets by the Group to the joint venture that
in equity. is attributable to the other parties in the ventures. The
Group does not recognise its share of profits or losses
from the joint venture until it resells the assets to an
independent party. However, if a loss on the transaction
provides evidence of a reduction in the net realisable
value of current assets or an impairment loss, the loss is
recognised immediately.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) Where necessary, in applying the equity method,
adjustments have been made to the financial statements
Basis of Consolidation (contd) of associates to ensure consistency of accounting
policies with those of the Group.
(d) Joint arrangements (contd)
When the Group ceases significant influence, investments
Equity accounting is discontinued when the carrying in associates are derecognised. Any retained equity
amount of the investment in joint ventures (including interest in the entity is remeasured at its fair value. The
any other unsecured receivables) reaches zero, unless difference between the carrying amount of the retained
the Group has incurred obligation or made payment on interest at the date when significant influence is lost and
behalf of the joint venture. its fair value is recognised in the profit or loss.
Where necessary, in applying the equity method, Investment in Subsidiaries, Joint Ventures and Associates
adjustments have been made to the financial statements
of joint ventures to ensure consistency of accounting In the Companys separate financial statements, investments
policies with those of the Group. in subsidiaries, joint ventures and associates are shown at cost
less accumulated impairment. On disposal of investments in
(e) Associates subsidiaries, joint ventures and associates, the difference
between disposal proceeds and the carrying amounts of the
Associates are companies in which the Group has investments are recognised in the profit or loss. Where an
significant influence. Significant influence is the power indication of impairment exists, the carrying amount of the
to participate in the financial and operating policy investment is assessed and written down immediately to its
decisions of the associates but not control over those recoverable amount. See accounting policy on impairment of
policies. non-financial assets.

Investments in associates are accounted for by the The amounts due from subsidiaries of which the Company
equity method of accounting and are initially recognised does not expect repayment in the foreseeable future
at cost. Equity accounting involves recognising in the are considered as part of the Companys investments in
income statement the Groups share of the associates subsidiaries.
results and its share of post-acquisition movements
in reserves is recognised in OCI with a corresponding Property, Plant and Equipment
adjustment to the carrying amount of the investment.
Equity accounting is discontinued when the carrying Property, plant and equipment are tangible items that:
amount of the investment in an associate (including
any other unsecured receivables) reaches zero, unless (i) are held for use in the production or supply of goods or
the Group has incurred obligation or made payment on services, or for administrative purposes; and
behalf of the associate. (ii) are expected to be used during more than one period.
The Groups investment in associates includes goodwill Property, plant and equipment are stated at cost less
(net of any accumulated impairment loss) identified on accumulated depreciation and accumulated impairment
acquisition. losses except for certain properties which were revalued
before 1998. In accordance with the transitional provision
Unrealised gains on transactions between the Group and allowed by MASB upon first adoption of IAS 16 Property,
its associates are eliminated to the extent of the Groups Plant and Equipment, the valuation of these assets have
interest in the associates. Unrealised losses are also not been updated, and they continue to be stated at their
eliminated unless the transaction provides evidence of existing carrying amounts less accumulated depreciation,
impairment on the assets transferred. amortisation and impairment losses.
Dilution gains and losses arising in investments in Cost includes expenditure that is directly attributable to the
associates are recognised in the profit or loss. acquisition of the items. Cost also includes borrowing costs
that are directly attributable to the acquisition, construction
The cost of acquiring additional stake in an associate is or production of a qualifying asset.
added to the carrying amount of the associate. This is the
deemed cost of the Groups investment in the associate
for applying equity accounting. Goodwill arising on the
purchase of additional stake is computed using the fair
value information at the date the additional interest
is purchased. The previously held interest is not re-
measured.
31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) Investment in freehold land is stated at cost. Leasehold
land is amortised using the straight-line method over
Property, Plant and Equipment (contd) the lease period. Other investment properties are stated
at cost less accumulated depreciation and impairment
Subsequent costs are included in the assets carrying amount losses. Investment properties under construction are not
or recognised as a separate asset, as appropriate, only when depreciated. Depreciation for other investment properties is
it is probable that future economic benefits associated with calculated using the straight-line method to allocate their
the item will flow to the Group and the cost of the item can cost over their estimated economic lives as follows:
be measured reliably. All other repairs and maintenance are
charged to the profit or loss during the financial year that Years
they are incurred. Leasehold land 51 97
Buildings and improvements 2 50
Freehold land is stated at cost and is not depreciated. The
depreciation of leasehold land is capitalised during the Where an indication of impairment exists, the carrying
period of construction as part of construction-in-progress amount of the asset is assessed and written down immediately
in property, plant and equipment until the construction to its recoverable amount. See accounting policy note on
is completed. Depreciation on assets under construction impairment of non-financial assets.
commences when the assets are ready for their intended use.
Investment property is derecognised either when it has been
The depreciable amount of an item of property, plant and disposed of or when the investment property is permanently
equipment is determined as the difference between the cost withdrawn from use and no future economic benefit is
less its residual value. The residual value is the estimated expected from its retirement from use.
amount that the Group expects to obtain from disposal of the
asset, after deducting the estimated cost of disposal, if the Gains and losses on disposal are determined by comparing
asset was already of the age and in the condition expected at the net disposal proceeds with the carrying amount and are
the end of its useful life. included in the profit or loss.
The Group depreciates other assets based on their Construction Contracts

consumption pattern and is applied separately to each
significant component. Where the outcome of a construction contract can be
estimated reliably, contract revenue and contract costs are
Years recognised by reference to the stage of completion of the
Buildings and improvements 2 96 contract activity at each reporting date (percentage of
Plant, equipment, vehicles and exhibit animals 2 50 completion method), as measured by the surveys of work
Leasehold lands 51 999 performed.
Aircrafts, sea vessels and improvements 2 20
Where the outcome cannot be estimated reliably, contract
The assets residual values and useful lives are reviewed revenue is recognised to the extent of contract costs incurred
annually and revised if appropriate. that it is probable will be recoverable. Contract costs are
recognised as expenses in the period in which they are
Where an indication of impairment exists, the carrying incurred. When it is probable that total contract costs will
amount of the asset is assessed and written down immediately exceed total contract revenue, the expected loss is recognised
to its recoverable amount. See accounting policy note on as an expense immediately.
impairment of non-financial assets.
The Group presents as an asset the gross amount due from
Gains and losses on disposals are determined by comparing customers for contract work for all contracts in progress for
proceeds with the carrying amounts and are included in the which costs incurred plus recognised profits (less recognised
profit or loss. On disposal of revalued assets, amounts in the losses) exceed progress billings and is shown as trade and
revaluation reserve relating to those assets are transferred to other receivables (within other non-current assets). The Group
retained earnings. presents as a liability the gross amount due to customers for
contract work for all contracts in progress for which progress
Investment Properties billings exceed costs incurred plus recognised profits (less
recognised losses).
Investment properties consist of investments in land and
buildings that are held for long-term rental yield and/or for
capital appreciation and are not occupied by the Group.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) (b) Property Development Costs and Revenue Recognition
Leasehold Land Use Rights Property development costs comprise costs associated
with the acquisition of land and all costs directly
Leasehold land that normally has a finite economic life attributable to development activities or costs that can
and title which is not expected to pass to the lessee by the be allocated on a reasonable basis to these activities.
end of the lease term is treated as an operating lease. The
payment made on entering into or acquiring a leasehold When the outcome of the development activity can be
land is accounted for as leasehold land use rights (referred estimated reliably, property development revenue and
to as prepaid lease payments in FRS 117 Leases) and is expenses are recognised by using the percentage of
amortised over the lease term in accordance with the pattern completion method in respect of sales where agreements
of benefits provided. have been finalised. Under this method, profits are
recognised as the property development activity
Plantation Development progresses. The stage of completion is determined
based on proportion of property development costs
Plantation development comprises cost of planting and incurred for work performed up to the reporting date
development on oil palms and other plantation crops. over the estimated total property development cost to
completion.
Cost of new planting and development of plantation crops
are capitalised from the stage of land clearing up to the When the outcome of a development activity cannot
stage of maturity. The cost of new planting capitalised is be reliably estimated, property development revenue is
not amortised. However, where the cost of new planting recognised only to the extent of property development
is incurred on leasehold land which has unexpired period costs incurred that is probable of recovery, and property
shorter than the crops economic life, the cost is amortised development costs on the development units sold are
over the remaining period of the lease on a straight line basis. recognised as an expense when incurred. Foreseeable
losses, if any, arising when it is probable that total
Replanting expenditure is charged to profit or loss in the property development costs (including expected
financial year in which the expenditure is incurred. defect liability expenditure) will exceed total property
development revenue, are recognised immediately in
Property Development Activities the profit or loss.

(a) Land Held for Property Development Property development costs not recognised as an
expense is recognised as an asset and is stated at the
Land held for property development consists of land lower of cost and net realisable value. Upon completion
on which no significant development work has been of development, the unsold completed development
undertaken or where development activities are not properties are transferred to inventories.
expected to be completed within the normal operating
cycle. Such land is classified as non-current asset and Where revenue recognised in the profit or loss exceeds
is stated at cost less accumulated impairment losses, billings to purchasers, the balance is shown as accrued
if any. billings under trade and other receivables (within current
assets). Where billings to purchasers exceed revenue
Cost comprises cost of land and all related costs recognised in the profit or loss, the balance is shown as
incurred on activities necessary to prepare the land progress billings under trade and other payables (within
for its intended use. Where the Group had previously current liabilities).
recorded the land at revalued amounts, it continues to
retain these amounts as its surrogate cost as allowed by Financial Assets
FRS 2012004 Property Development Activities. Where
an indication of impairment exists, the carrying amount (a) Classification
of the asset is assessed and written-down immediately
to its recoverable amount. See accounting policy note on The Group classifies its financial assets in the following
impairment of non-financial assets. categories: at fair value through profit or loss, loans and
receivables and available-for-sale. The classification
Land held for property development is transferred to depends on the nature of the asset and purpose for which
property development costs and included under current the asset was acquired. Management determines the
assets when development activities have commenced classification of its financial assets at initial recognition.
and where the development activities can be completed
within the normal operating cycle of 2 to 3 years.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) Gains or losses arising from changes in the fair value of
the financial assets at fair value through profit or loss
Financial Assets (contd) category are presented in the income statement within
other income/expense in the financial year in which they
(a) Classification (contd) arise. Dividend income from financial assets at fair value
through profit or loss is recognised in the profit or loss as
(i) Financial assets at fair value through profit or loss part of other income when the Groups right to receive
payments is established.
There are two subcategories: financial assets held
for trading and those designated as at fair value Changes in the fair value of monetary securities
through profit or loss on initial recognition. A denominated in a foreign currency and classified as
financial asset is classified as held for trading if available-for-sale are analysed between translation
acquired principally for the purpose of selling in differences resulting from changes in amortised cost of
the short term or if so designated by management. the security and other changes in the carrying amount
Derivatives are also categorised as held for trading of the security. The translation differences on monetary
unless they are designated as hedges. Assets in securities are recognised in the profit or loss and
this category are classified as current assets if they translation differences on non-monetary securities are
are either held for trading or are expected to be recognised in OCI. Changes in the fair value of monetary
realised within 12 months after the reporting date; and non-monetary securities classified as available-for-
otherwise, they are classified as non-current. sale are recognised in OCI.

(ii) Loans and receivables When securities classified as available-for-sale are sold
or impaired, the accumulated fair value adjustments
Loans and receivables are non-derivative financial recognised in equity are included in the profit or loss as
assets with fixed or determinable payments gains and losses or impairment losses from available-
that are not quoted in an active market. They for-sale financial assets.
are included in current assets, except for those
maturing more than 12 months after the reporting Interest on available-for-sale securities calculated using
date which are classified as non-current assets. the effective interest method is recognised in the profit or
Loans and receivables are included in trade and loss. Dividends on available-for-sale equity instruments
other receivables, other non-current assets, are recognised in the profit or loss when the Groups
restricted cash, cash and cash equivalents and right to receive payments is established.
intercompany balances in the statement of financial
position (see accounting policy note on receivables). The fair values of quoted investments are based on
current bid prices. If the market for a financial asset
(iii) Available-for-sale financial assets is not active (and for unlisted securities), the Group
establishes fair value by using valuation techniques.
Available-for-sale financial assets are non-derivatives These include the use of recent arms length transactions,
that are either designated in this category or not reference to other instruments that are substantially the
classified in any of the other categories. They are same, discounted cash flow analysis, and option pricing
included in non-current assets unless management models, making maximum use of market inputs and
intends to dispose of the assets within 12 months relying as little as possible on entity-specific inputs.
after the reporting date.
(c) Impairment of financial assets
(b) Recognition and measurement
The Group assesses at each reporting date whether there
Regular purchases and sales of financial assets are is objective evidence that a financial asset or a group
recognised on the trade-date, the date on which the of financial assets is impaired. In the case of equity
Group commits to purchase or sell the asset. Investments securities classified as available-for-sale, a significant
are initially recognised at fair value plus transaction or prolonged decline in the fair value of the security
costs for all financial assets not carried at fair value below its cost is taken as evidence that the securities
through profit or loss. Financial assets carried at fair are impaired. If any such evidence exists for available-
value through profit or loss are initially recognised at fair for-sale financial assets, the cumulative loss - measured
value, and transaction costs are expensed in the profit or as the difference between the acquisition cost and the
loss. Financial assets are derecognised when the rights current fair value, less any impairment loss on that
to receive cash flows from the investments have expired financial asset previously recognised in profit or loss -
or have been transferred and the Group has transferred is removed from equity and recognised in the profit or
substantially all risks and rewards of ownership. loss. Impairment losses recognised in the profit or loss
Available-for-sale financial assets and financial assets at on equity instruments classified as available-for-sale are
fair value through profit or loss are subsequently carried not reversed through the profit or loss.
at fair value. Loans and receivables are subsequently
carried at amortised cost using the effective interest
method.


31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) amortisation and accumulated impairment losses. Such
cost is amortised using the straight line method over 3
Intangible Assets to 30 years, which is the shorter of its economic useful
life and periods of contractual right. The amortisation
(a) Goodwill period and amortisation method are reviewed at each
reporting date. The effects of any revision are recognised
Goodwill arises on the acquisition of subsidiaries in the profit or loss when changes arise. Amortisation is
and represents the excess of the aggregate of the recognised in the profit or loss unless the amount can be
consideration transferred, the amount of any non- capitalised as part of construction-in-progress. Where an
controlling interest in the acquiree and the fair value indication of impairment exists, the carrying amount of
of any previous equity interest in the acquiree over licence is assessed and written down immediately to its
the fair value of the identifiable assets acquired and recoverable amount.
liabilities assumed. If the aggregate of consideration
transferred, the amount of non-controlling interest and (c) Trademarks
the fair value of previously held interest in the acquiree
are less than the fair value of the identifiable net assets Trademarks are reviewed annually for impairment and
of the acquiree, the resulting gain is recognised in the are stated at cost less any accumulated impairment
profit or loss. Goodwill is stated at cost less accumulated losses. Trademarks have an indefinite useful life as
impairment losses. Impairment losses on goodwill are it is maintained through continuous marketing and
not reversed. Goodwill is allocated to cash-generating upgrading. Trademarks are reviewed annually for
units for the purpose of annual impairment testing. impairment.
The allocation is made to those cash generating units
or groups of cash generating units that are expected (d) Concession right
to benefit from the business combination in which the
goodwill arose. Concession right is recognised as an intangible asset
to the extent that it receives a right to charge users of
(b) Licences the service. Concession rights are stated at cost less
accumulated amortisation and accumulated impairment
Casino licences - indefinite life losses. Amortisation is calculated using the straight line
method over the licensing agreement periods.
The Group capitalises purchased casino licences. The
amount capitalised is the difference between the price Subsequent costs and expenditures to enhance or
paid for a casino including the associated licence and the upgrade existing infrastructure are recognised as
fair value of a similar property without a casino licence. additions to the intangible assets and are stated at cost.
Casino licences have indefinite useful lives as there is no Repairs and maintenance are expensed and recognised
foreseeable limit to the period over which the licences in the profit or loss when incurred.
are expected to generate cash inflows. Each licence is
reviewed annually for impairment and as such is stated (e) Research and development expenditure
at cost less any accumulated impairment losses.
Research expenditure is recognised as an expense
Purchased licence - definite life when incurred. Costs incurred on development projects
(relating to the design and testing of new or improved
The Group capitalises purchased licence. The licence, products) are recognised as intangible assets when the
which has definite useful life, is initially recognised at following criteria are fulfilled:
cost and subsequently carried at cost less accumulated
amortisation and accumulated impairment losses. The (i) It is technically feasible to complete the intangible
cost is amortised using the straight line method over asset so that it will be available for use or sale;
its estimated useful life. The amortisation period and (ii) Management intends to complete the intangible
amortisation method are reviewed at each reporting asset and use or sell it;
date. The effects of any revision are recognised in the (iii) There is an ability to use or sell the intangible asset;
profit or loss when changes arise. Where an indication (iv) It can be demonstrated that the intangible asset will
of impairment exists, the carrying amount of licences is generate probable future economic benefits;
assessed and written down immediately to its recoverable (v) Adequate technical, financial and other resources
amount. to complete the development and to use or sell the
intangible asset are available; and
Casino and theme park licences - Singapore (vi) The expenditure attributable to the intangible asset
during its development can be reliably measured.
Casino and theme park licences are initially recognised at
cost and subsequently carried at cost less accumulated
31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) Expenditure that enhances or extends the performance
of computer software programmes beyond their original
Intangible Assets (contd) specifications is recognised as a capital improvement and
added to the original cost of the software.
(e) Research and development expenditure (contd)
Completed software development programmes recognised
Collaborations and alliances are maintained with third as assets are amortised using the straight-line method over
parties for provision of research and development their estimated useful lives of 5 years. The amortisation
expertise and capacity in genomics for the achievement period and amortisation method are reviewed at each
of performance milestones. Milestones payments are reporting date. The effects of any revision are recognised
capitalised to the extent that the capitalisation criteria in profit or loss when changes arise.
in FRS 138 Intangible Assets are met. Judgement is
involved in determining whether the amount paid meets Software development programmes under development
the performance milestones so as to enable the amount are not amortised.
to be capitalised as intangible assets.
See accounting policy note on impairment of non-financial
Other development expenditures that do not meet these assets for intangible assets.
criteria are recognised as an expense when incurred.
Development costs previously recognised as an expense Rights of Use of Oil and Gas Assets
are not recognised as an asset in a subsequent period.
Capitalised development costs are recorded as intangible (a) Exploration cost
assets and amortised from the point at which the asset
is ready for use or sale, on a straight-line basis over the Oil and gas exploration cost is accounted for in accordance
estimated useful lives, not exceeding 20 years. with the full cost method. Under this method, all costs
relating to the exploration activities are capitalised when
(f) Intellectual property rights incurred. Exploration cost is written off to the profit or loss
when:
Acquired intellectual property (IP) rights are stated at
cost less accumulated amortisation and accumulated - it is determined that further exploration activities
impairment losses. The IP rights are amortised from the will not yield commercial quantities of reserves, no
point at which the asset is available for use or sale, on a further exploration drilling is planned and there is no
straight line basis over its useful life not exceeding 20 existing production in the block or field; or
years.
- the petroleum contract has expired or is surrendered.
(g) Software development
Other exploration and evaluation activity involves
Software development that does not form an integral the search for mineral resources, the determination
part of other related hardware is treated as an intangible of technical feasibility and the assessment of the
asset. Costs that are directly associated with development commercial viability of an identified resource. Exploration
and acquisition of software development programmes by and evaluation costs are capitalised in respect of each
the Group are capitalised as intangible assets when the area of interest for which the legal rights to tenure are
following criteria are met: current and where:
(i) It is technically feasible to complete the software (i) The exploration and evaluation expenditures
product so that it will be available for use; are expected to be recouped through successful
(ii) Management intends to complete the software development and exploitation of the area of interest
product and use or sell it; or alternatively by its sale; and
(iii) There is an ability to use or sell the software product;
(iv) It can be demonstrated how the software product will (ii) Exploration and evaluation activities in the area of
generate probable future economic benefits; interest have not reached a stage which permits a
(v) Adequate technical, financial and other resources reasonable assessment of the existence or otherwise
to complete the development and to use or sell the of economically recoverable reserves and active
software product are available; and operations in, or in relation to, the areas of interest
(vi) The expenditure attributable to the software product are continuing.
during its development can be reliably measured.
Exploration cost is stated at cost less any accumulated
Direct costs include staff cost of the software development impairment losses.
team and an appropriate portion of relevant overheads.
Costs associated with maintaining software development Where an indication of impairment exists, the carrying
programmes are recognised as an expense when incurred. amount of the exploration cost is assessed and written
down immediately to its recoverable amount. See
accounting policy note on impairment of non-financial
assets.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) Non-Current Assets Held for Sale
Rights of Use of Oil and Gas Assets (contd) Non-current assets are classified as assets held for sale and
stated at the lower of carrying amount and fair value less
(b) Rights and concessions costs to sell if their carrying amount is recovered principally
through a sale transaction rather than a continuing use, and
Included in rights and concessions are purchase a sale is considered highly probable.
consideration that the Group has paid for the acquisition
of working interest in contracts for petroleum exploration, Receivables
development and production.
Receivables are recognised initially at fair value and
Rights and concessions are amortised according to the subsequently measured at amortised cost using the effective
UOP method based on the proved and probable reserves interest method, less provision for impairment loss. An
of the fields, represented by the Groups estimated impairment of receivables is established when there is
entitlements to future production under the terms of the objective evidence that the Group will not be able to collect all
petroleum contracts. amounts due according to the original terms of receivables.
The amount of impairment is the difference between the
(c) Production wells, related equipment and facilities assets carrying amount and the present value of estimated
future cash flows, discounted at the effective interest rate.
Production wells, related equipment and facilities are The amount of the impairment loss is recognised in the profit
shown in the statement of financial position as Rights or loss. An impairment loss is reversed only to the extent of
of Use of Oil and Gas Assets in recognition of the previously recognised impairment losses for the same asset.
eventual ownership of production assets being vested The reversal is recognised in the profit or loss.
in the government. Capitalisation is made within Rights
of Use of Oil and Gas Assets according to the nature Cash and Cash Equivalents
of the expenditure. These assets are stated at cost less
accumulated depreciation, depletion and amortisation. Cash and cash equivalents include cash and bank balances
(net of bank overdrafts), money market instruments,
Completed production wells, related equipment and deposits and other short term, highly liquid investments
facilities are amortised according to the UOP method that are readily convertible to known amounts of cash and
based on the proved and probable reserves of each are subject to insignificant risk of changes in value (with
field, represented by the Groups estimated entitlements original maturities of 3 months or less). Bank overdrafts are
to future production under the terms of the relevant included within short term borrowings in current liabilities in
petroleum contracts. the statement of financial position.

Construction in progress are not amortised until the Payables
assets are completed and transferred to production
wells. Trade payables are recognised initially at fair value and
subsequently measured at amortised cost using the effective
At each reporting date, the Group assesses whether interest method.
there is any indication of impairment. If such indication
exists, an analysis is performed to assess whether the Finance Leases
carrying amount of asset is fully recoverable. A write
down is made if the carrying amount exceeds the Leases of property, plant and equipment where the Group
recoverable amount. assumes substantially all the benefits and risks of ownership
are classified as finance leases. The Group adopts the
Inventories following accounting policy in respect of accounting by a
lessee.
Inventories are stated at the lower of cost and net realisable
value. Cost includes, where relevant, appropriate proportions
of overheads and is determined on a weighted average basis.
Net realisable value is the estimated selling price in the
ordinary course of business, less costs of completion and
selling expenses. The cost of unsold properties comprises
cost associated with the acquisition of land, direct costs and
an appropriate proportion of allocated costs attributable to
property development activities.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) Incremental costs directly attributable to the issue of new
shares, warrants, options or for the acquisition of a business
Finance Leases (contd) are shown in equity as a deduction, net of tax, from the
proceeds.
Finance leases are capitalised at the inception of the
lease at the lower of the fair value of the leased property The proceeds received net of any directly attributable
and the present value of the minimum lease payments. transaction costs are credited to share capital (nominal
Each lease payment is allocated between the liability and value) and share premium when the options are exercised.
finance charges so as to achieve a constant periodic rate
of interest on the balance outstanding. The corresponding Treasury Shares
rental obligations, net of finance charges, are included
in borrowings. The interest element of the finance charge A purchase by the Company of its own equity shares is
incurred on qualifying assets are capitalised until the assets accounted for under the treasury stock method. Under this
are ready for their intended use after which such expense is method, the shares purchased and held as treasury shares is
charged to the profit or loss over the lease period so as to measured and carried at the cost of purchase (including any
produce a constant periodic rate of interest on the remaining directly attributable incremental external costs, net of tax).
balance of the liability for each period. On presentation in the statement of financial position, the
carrying amount of the treasury shares is offset against equity.
Property, plant and equipment acquired under finance lease Where treasury shares are distributed as share dividends,
is depreciated over the shorter of the estimated useful life of the cost of the treasury shares is applied in the reduction
the asset and the lease term. of the share premium account or the distributable reserves,
or both. Where treasury shares are reissued by re-sale in the
Operating Leases open market, the difference between the sales consideration
and the carrying amount of the treasury shares is shown as a
(a) Accounting for Lessee movement in equity. As treasury shares, the rights attached
to voting, dividends and participation in other distribution
Leases where a significant portion of the risks and are suspended.
rewards of ownership are retained by the lessor are
classified as operating leases. Payments made under Perpetual Capital Securities
operating leases (net of any incentives received from the
lessors) are charged to the profit or loss on a straight-line Perpetual capital securities are classified as equity when
basis over the period of the lease. there is no contractual obligation to deliver cash or other
financial assets to another person or entity or to exchange
(b) Accounting for Lessor financial assets or financial liabilities with another person
or entity that are potentially unfavourable to the issuer.
Leases where the Group retains substantially all risks Incremental costs directly attributable to the issuance of
and rewards of ownership are classified as operating new perpetual capital securities are shown in equity as a
leases. Rental income from operating leases (net of deduction, net of tax, from the proceeds. The proceeds
any incentives given to the lessees) is recognised in the received net of any directly attributable transaction costs are
profit or loss on a straight-line basis over the lease term. credited to perpetual capital securities.
Initial direct costs incurred by the Group in negotiating Warrants Reserve

and arranging operating leases are added to the carrying
amount of the leased assets and recognised as an Proceeds from the issuance of warrants, net of issuance
expense in profit or loss over the lease term on the same costs, are credited to warrants reserve. Warrants reserve is
basis as the lease income. transferred to the share premium account upon the exercise
of the warrants. Warrants reserve in relation to unexercised
Lease incentives are recognised as other receivables warrants at the expiry of the warrants period is transferred to
where such incentives are provided by the Group and retained earnings.
recognised net of lease income in profit or loss over
the lease term on the same basis as the lease income. Borrowings
Contingent rents are recognised as income in profit or
loss when earned. Borrowings are classified as current liabilities unless the
Group has an unconditional right to defer settlement of the
Share Capital liability for at least 12 months after the reporting date.
Ordinary shares are classified as equity when there is no

contractual obligation to deliver cash or other financial assets
to another entity or to exchange financial assets or liabilities
with another entity that are potentially unfavourable to the
issuer.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) An impairment loss is charged to the profit or loss, unless
the asset is carried at revalued amount, in which case the
Borrowings (contd) impairment loss is used to reduce the revaluation surplus.
Borrowings are recognised initially at fair value, net of Non-financial assets other than goodwill that have suffered
transaction costs incurred. Subsequently, borrowings are impairment are reviewed for possible reversal of the
stated at amortised cost using the effective interest method. impairment at each reporting date.
Any difference between the amount recorded as borrowings
and the associated redemption value is recognised in the An impairment loss is reversed only to the extent of
profit or loss over the period of the borrowings. previously recognised impairment losses for the same asset
unless the asset is carried at revalued amount, in which case
Costs incurred on borrowings to finance qualifying assets are the reversal is treated as an increase to revaluation reserve.
capitalised until the assets are ready for their intended use An impairment loss recognised for goodwill shall not be
after which such expenses are charged to the profit or loss. reversed.
All other borrowing costs are charged to the profit or loss.
Contingent Liabilities and Contingent Assets
Financial Guarantee Contracts
The Group does not recognise a contingent liability but
A financial guarantee contract is a contract that requires discloses its existence in the financial statements, except in
the issuer to make specified payments to reimburse the a business combination. A contingent liability is a possible
holder for a loss it incurs because a specified debtor fails obligation that arises from past events whose existence will
to make payment when due. Financial guarantee contracts be confirmed by uncertain future events beyond the control
are recognised initially at fair value plus transactions of the Group or a present obligation that is not recognised
costs and thereafter, at the higher of the best estimate of because it is not probable that an outflow of resources will
the expenditure required to settle the present obligation be required to settle the obligation. When a change in the
at the end of the reporting period and the amount initially probability of an outflow of economic resources occurs
recognised less, where appropriate, cumulative amortisation and the outflow is probable, it will then be recognised as
recognised. a provision. However, contingent liabilities do not include
financial guarantee contracts.
Impairment of Non-Financial Assets
A contingent asset is a possible asset that arises from past
The carrying amounts of non-financial assets other than events whose existence will be confirmed by uncertain future
inventories, assets arising from construction contracts, events beyond the control of the Group. The Group does not
deferred tax assets and non-current assets classified as held recognise contingent assets but discloses their existence
for sale are reviewed for impairment losses whenever events where inflows of economic benefits are probable, but not
or changes in circumstances indicate that the carrying virtually certain. When inflow of economic resources is
amount may not be recoverable. If such indication exists, virtually certain, the asset is recognised.
an impairment review is performed to assess whether the
carrying amount of the asset is fully recoverable. In the acquisition of subsidiaries by the Group under a
business combination, the contingent liabilities assumed are
Irrespective of whether there is any indication of impairment, measured initially at their fair value at the acquisition date,
the Group also: irrespective of the extent of any non-controlling interests.
(a) tests intangible assets with indefinite useful life for The Group recognises separately the contingent liabilities of
impairment annually by comparing its carrying amount the acquirees as part of allocating the cost of a business
with its recoverable amount. combination where the fair values can be measured reliably.
Where the fair values cannot be measured reliably, the
(b) tests goodwill acquired in a business combination for resulting effect will be reflected in the goodwill arising from
impairment annually. the acquisitions.
Impairment loss is recognised when the carrying amount of Subsequent to the initial recognition, the Group measures
the asset exceeds its recoverable amount. The recoverable the contingent liabilities that are recognised separately
amount is the higher of an assets fair value less costs to at the date of acquisition at the higher of the amount
sell and its value in use, which is measured by reference that would be recognised in accordance with FRS 137
to discounted future cash flows. Recoverable amounts are Provisions, Contingent Liabilities and Contingent Assets
estimated for individual assets, or if it is not possible, for the and the amount initially recognised less, when appropriate,
cash generating unit. cumulative amortisation recognised in accordance with FRS
118 Revenue.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) Deferred tax is recognised on temporary differences

arising on investments in subsidiaries, joint ventures
Provisions and associates except where the timing of the reversal
of the temporary difference can be controlled and it is
Provisions are recognised when the Group has a present probable that the temporary differences will not reverse
legal or constructive obligation as a result of a past event, in the foreseeable future.
when it is probable that an outflow of resources embodying
economic benefits will be required to settle the obligation, Tax benefit from investment tax allowance is recognised
and when a reliable estimate can be made of the amount of when the tax credit is utilised and no deferred tax asset
the obligation. is recognised when the tax credit is receivable.
Present obligations arising under onerous contracts are Discontinued Operations

recognised and measured as provisions. An onerous contract
is considered to exist where the Group has a contract under A discontinued operation is a component of the Groups
which the unavoidable costs of meeting the obligations under business that represents a separate major line of business or
the contract exceed the economic benefits received under it. geographical area of operations that has been disposed of or
is held for sale, or is a subsidiary acquired exclusively with
Asset Retirement Obligations oil and gas a view to resale. Classification as a discontinued operation
occurs upon disposal or when the operation meets the criteria
Asset retirement obligations (including future to be classified as held for sale, if earlier. When an operation
decommissioning and restoration) which meet the criteria is classified as a discontinued operation, the comparative
of provisions are recognised as provisions and the amount income statement and other comprehensive income are
recognised is the present value of the estimated future represented as if the operation had been discontinued from
expenditure determined in accordance with local conditions the start of the comparative period.
and requirements, while a corresponding addition to the
related oil and gas assets of an amount equivalent to the Employee Benefits
provision is also created. This is subsequently amortised as
part of the costs of the Rights of Use of Oil and Gas Assets. (a) Short-Term Employee Benefits
Accretion of interest on asset retirement obligations for each
period are recognised using the effective interest method Short-term employee benefits include wages, salaries,
over the useful life of the related oil and gas assets. bonus, social security contributions and paid annual
leave. These benefits are accrued when incurred and are
Income Taxes measured on an undiscounted basis.
(a) Current Taxation (b) Post-Employment Benefits

Current taxation is determined according to the tax laws Post-employment benefits include defined contribution
of each jurisdiction in which the Group operates and plans under which the Group pays fixed contributions
includes all taxes based upon the taxable income and into a separate entity (a fund) and will have no legal or
is measured using the tax rates which are applicable at constructive obligation to pay further contributions if the
the reporting date. fund does not hold sufficient assets to pay all employee
benefits relating to employee service in the current and
(b) Deferred Taxation prior periods. These benefits are accrued when incurred
and are measured on an undiscounted basis.
Deferred tax liabilities and/or assets are recognised,
using liability method, on temporary differences (c) Long-Term Employee Benefits
between the carrying amounts of assets and liabilities
in the financial statements and their related tax bases. Long-term employee benefits include retirement
Deferred tax is not recognised for the following temporary gratuities payable under a retirement gratuity scheme
differences: the initial recognition of goodwill, the initial which was established in 1991 by the Board of Directors
recognition of assets or liabilities in a transaction that for Executives and Executive Directors of the Company
is not a business combination and that affects neither and certain subsidiaries. The level of retirement gratuities
accounting profit nor taxable profit or loss. Deferred tax payable is determined by the Board of Directors in
assets are recognised to the extent that it is probable that relation to services rendered and it does not take into
future taxable profits will be available against which the account the employees performance to be rendered in
deferred tax assets can be utilised. Deferred tax liability later years up to retirement and the gratuity is a vested
in respect of asset revaluations is also recognised. benefit when the employee reaches retirement age.
Deferred tax liabilities and assets are measured at
the tax rates that have been enacted or substantively
enacted by the reporting date and are expected to apply
when the related deferred tax asset is realised or the
deferred tax liability is settled.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) Where the terms of a share-based compensation plan
are modified, the expense that has yet to be recognised
Employee Benefits (contd) for the award is recognised over the remaining vesting
period as if the terms had not been modified. Additional
(c) Long-Term Employee Benefits (contd) expense is recognised for any increase in the total fair
value of the share and/or options due to the modification,
The present value of the retirement gratuities is as measured at the date of the modification.
determined by discounting the amount payable by
reference to market yields at the reporting date on Revenue Recognition
high quality corporate bonds which have terms to
maturity approximating the terms of the related liability. Sales are recognised upon delivery of products or
Employee turnover is also factored in arriving at the level performance of services, net of sales tax and discounts, and
of the retirement gratuities payable. Past-service costs after eliminating sales within the Group.
are recognised immediately in the profit or loss.
Sales relating to property development projects are recognised
Such retirement gratuities payable are classified as progressively as the project activity progresses and are in
current liabilities where it is probable that a payment respect of sales where agreements have been finalised. The
will be made within the next twelve months and also recognition of sales is based on the percentage of completion
provided that the amount has been approved for payment method and is consistent with the method adopted for profit
by the Board of Directors. recognition.
(d) Share-based Compensation Rental income from operating leases (net of any incentives
given to the lessees) is recognised in the profit or loss on a
For equity-settled, share-based compensation plan, the straight-line basis over the lease term.
fair value of employee services rendered in exchange for
the grant of the shares and/or options is recognised as an Casino revenue represents net house takings. The casino
expense with a corresponding increase in equity over the licence in Malaysia is renewable every three months.
vesting period. The total amount to be expensed in the
income statement over the vesting period is determined Revenue from the sale of oil, net of taxes, is recognised when
by reference to the fair value of shares and/or options the significant risks and rewards of ownership have been
granted at the grant date and the number of shares and/ transferred, which is considered to occur when oil delivered
or options vested by vesting date, excluding the impact of to the customer.
any non-market vesting conditions. Non-market vesting
conditions are included in the estimates of the number Revenue from construction contract is recognised on the
of shares and/or options that are expected to become percentage of completion method.
vested and/or exercisable. At each reporting date, the
respective companies will revise its estimates of the Dividend income is recognised when the right to receive
number of shares and/or options that are expected to be payment is established, which in the case of quoted
vested and it recognises the impact of this revision in securities is the ex-dividend date.
the income statement with a corresponding adjustment
to equity. After the vesting date, no adjustment to the Fees from management and licensing services are recognised
income statement is made. For performance shares in the period in which the services are rendered.
that are expected to be granted, due to services received
before grant date, the total amount to be recognised Dividends
over the vesting period is determined by reference to
the fair value of the performance shares at the end of Dividends on ordinary shares are accounted for in
the reporting period, until the date of grant has been shareholders equity as an appropriation of retained earnings
established. and accrued as a liability in the financial year in which the
obligation to pay is established.
The proceeds received net of any directly attributable
transaction costs are credited to share capital and share Interest Income
premium when the options are exercised. For share-
based compensation plan implemented by a subsidiary, Interest income is recognised using the effective interest
the proceeds are credited in equity as transactions with method.
owners.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd) Goodwill and fair value adjustments arising on the
acquisition of a foreign entity are treated as assets and
Foreign Currency Translation liabilities of the foreign entity and translated at the
closing rate. Exchange differences arising are recognised
(a) Functional and presentation currency in OCI.
Items included in the financial statements of each of Derivative Financial Instruments and Hedging Activities
the Groups entities are measured using the currency of
the primary economic environment in which the entity Derivative financial instruments are initially recognised at fair
operates (the functional currency). The consolidated value on the date the derivative contract is entered into and
financial statements are presented in Ringgit Malaysia are subsequently remeasured at their fair value. The method
(RM), which is the Companys functional and of recognising the resulting gain or loss depends on whether
presentation currency. the derivative is designated as a hedging instrument, and if
so, the nature of the item being hedged.
(b) Transactions and balances
Fair value changes on derivative that are not designated or
Foreign currency transactions are translated into the do not qualify for hedge accounting are recognised in profit
functional currency using the exchange rates prevailing or loss within fair value gains/losses on derivative financial
at the dates of the transactions or valuation where items instruments when the changes arise.
are remeasured. Foreign exchange gains and losses
resulting from the settlement of such transactions The Group documents at the inception of the transaction the
and from the translation at year-end exchange rates of relationship between the hedging instruments and hedged
monetary assets and liabilities denominated in foreign items, as well as its risk management objective and strategies
currencies are recognised in the profit or loss, except for undertaking various hedging transactions. The Group also
when deferred in equity as qualifying cash flow hedges documents its assessment, both at hedge inception and
and qualifying net investment hedges. on an ongoing basis, of whether the derivatives designated
as hedging instruments are highly effective in offsetting
Translation differences on non-monetary financial assets changes in fair value or cash flows of the hedged items.
and liabilities such as equities held at fair value through
profit or loss are recognised in profit or loss as part of the The carrying amount of the derivative designated as a hedge
fair value gain or loss. Translation differences on non- is presented as a non-current asset or liability if the remaining
monetary financial assets such as equities classified as expected life of the hedged item is more than 12 months and
available-for-sale are included in the fair value reserve as a current asset or liability if the remaining expected life of
as OCI. the hedged item is less than 12 months.
(c) Group companies The fair value changes on the effective portion of interest rate
swaps or other derivatives that are designated and qualify
On consolidation the results and financial position of all as cash flow hedges are recognised in the cash flow hedge
the Groups entities which have a functional currency reserve and reclassified to the profit or loss when the interest
different from that of the Groups presentation currency expense on the borrowings is recognised in the profit or loss
are translated into the Groups presentation currency as unless the amount transferred can be capitalised as part of
follows: the cost of a self-constructed asset, in which case, both the
reclassification and interest expense are capitalised. The
(i) assets and liabilities are translated at the closing fair value changes on the ineffective portion are recognised
rate at the reporting date; immediately in the profit or loss.
(ii) income and expenses for each profit or loss are
translated at average exchange rates (unless When a hedging instrument expires or is sold, or when the
this average is not a reasonable approximation cash flow hedge is discontinued or when a hedge no longer
of cumulative effect of the rates prevailing on meets the criteria for hedge accounting, any cumulative gain
the transaction dates, in which case income or loss existing in equity at that time remains in equity and is
and expenses are translated at the dates of the only transferred to profit or loss when the forecast transaction
transactions); and is ultimately recognised in the profit or loss. When a forecast
(iii) all resulting exchange differences are recognised as transaction is no longer expected to occur, the cumulative
a separate component of OCI. gain or loss that was reported in cash flow hedge reserve is
immediately transferred to the profit or loss within fair value
On consolidation, exchange differences arising from the gains/losses on derivative financial instruments.
translation of the net investment in foreign operations,
and of borrowings and other currency instruments
designated as hedges of such investments, are taken to
OCI. When a foreign operation is partially disposed of or
sold, such exchange differences that were recorded in
equity are recognised in the profit or loss as part of the
gain or loss on sale.

31 December 2014
3. SIGNIFICANT ACCOUNTING POLICIES (contd)
Segmental Reporting
Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-
makers. The chief operating decision-makers, who are responsible for allocating resources and assessing performance of the
operating segments, have been identified as the Chairman and Chief Executive and the President and Chief Operating Officer
of the Company.
4. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

(a) Financial risk factors

The Groups overall financial risk management objective is to optimise the value creation for shareholders. The Group seeks
to minimise the potential adverse impacts arising from fluctuations in foreign currency exchange and interest rates and the
unpredictability of the financial markets.
The Group operates within clearly defined guidelines that are approved by the Board of Directors. Financial risk management
is carried out through risk reviews conducted at all significant operating units. This process is further enhanced by effective
internal controls, a comprehensive insurance programme and adherence to the financial risk management policies.

The main areas of financial risks faced by the Group are as follows:

(i) Foreign currency exchange risk
The Group is exposed to foreign currency exchange risk when the Company and its subsidiaries enter into transactions
that are not denominated in their functional currencies. The Group attempts to significantly limit its exposure for
committed transactions by entering into forward foreign currency exchange contracts within the constraints of market
and government regulations.
The Groups principal foreign currency exposure relates mainly to the Singapore Dollar (SGD), Pound Sterling
(GBP), United States Dollar (USD), Renminbi (RMB), Hong Kong Dollar (HKD) and Indonesia Rupiah (IDR).
The Groups exposure to foreign currencies in respect of its financial assets and financial liabilities as at the reporting
date is as follows:
SGD GBP USD RMB HKD IDR Others Total

At 31 December 2014
Financial assets
Available-for-sale financial assets - - 3,495.5 - - - - 3,495.5
Other non-current assets - - 202.0 - - - - 202.0
Trade and other receivables 0.4 - 303.8 0.1 0.1 200.9 1.1 506.4
Amounts due from joint ventures - - 3.8 - - - - 3.8
Derivative financial instruments 3.9 - 94.3 - - - - 98.2
Cash and cash equivalents 139.2 7.8 3,242.6 2.7 348.2 29.6 0.2 3,770.3
143.5 7.8 7,342.0 2.8 348.3 230.5 1.3 8,076.2
Financial liabilities
Trade and other payables (0.2) (0.4) (20.0) (31.9) (0.1) (13.3) (4.5) (70.4)
Derivative financial instruments (32.6) - (660.8) - - - - (693.4)
Borrowings (71.2) - (810.1) - - - - (881.3)
(104.0) (0.4) (1,490.9) (31.9) (0.1) (13.3) (4.5) (1,645.1)
Net currency exposure 39.5 7.4 5,851.1 (29.1) 348.2 217.2 (3.2) 6,431.1

31 December 2014
4. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (contd)

(a) Financial risk factors (contd)
(i) Foreign currency exchange risk (contd)
SGD GBP USD RMB HKD IDR Others Total

At 31 December 2013
Financial assets
Available-for-sale financial assets - - 3,309.2 - - - - 3,309.2
Trade and other receivables 0.1 1.8 568.4 1.2 0.6 13.0 2.6 587.7
Derivative financial instruments - - 109.8 - - - - 109.8
Cash and cash equivalents 22.6 8.3 1,501.6 - 268.2 10.8 9.0 1,820.5
22.7 10.1 5,489.0 1.2 268.8 23.8 11.6 5,827.2
Financial liabilities
Trade and other payables (0.3) (0.7) (37.8) (0.3) (27.5) (4.7) (8.1) (79.4)
Derivative financial instruments - - (26.9) - - - - (26.9)
Borrowings (16.7) - (797.4) - - - - (814.1)
(17.0) (0.7) (862.1) (0.3) (27.5) (4.7) (8.1) (920.4)
Net currency exposure 5.7 9.4 4,626.9 0.9 241.3 19.1 3.5 4,906.8
The following table demonstrates the sensitivity of the Groups profit after tax and equity to 10% (2013: 10%)
strengthening of each respectively in SGD, GBP, USD, RMB, HKD and IDR against the respective functional currencies
of the entities within the Group, with all other variables held constant.
2014 Increase/(Decrease)
Group Profit after tax OCI
SGD 4.0 -
GBP 0.7 -
USD 235.6 349.5
RMB (2.9) -
HKD 34.8 -
IDR 21.7 -
2013 Increase/(Decrease)
SGD 0.6 -
GBP 0.9 -
USD 131.8 330.9
RMB 0.1 -
HKD 24.1 -
IDR 1.9 -
A 10% (2013: 10%) weakening of the above currencies against the respective functional currencies of the entities
within the Group would have the equal but opposite effect to the amount shown above, on the basis that all other
variables remain constant.
The Company is not exposed to any material foreign exchange risk.

31 December 2014
4. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (contd) In managing credit risk exposure from trade
receivables, Genting Singapore PLC (GENS)
(a) Financial risk factors (contd) Group, which is an indirect 52.5% owned subsidiary
of the Company, has established a Credit Committee
(ii) Interest rate risk and processes to evaluate the creditworthiness of its
counterparties. The counterpartys payment profile
Interest rate risks arise mainly from the Groups and credit exposure are continuously monitored by
borrowings and debt securities classified as the Credit Committee, together with the operational
available-for-sale financial assets. Borrowings issued policies and guidelines. Credit exposure to an
at variable rates expose the Group to cash flow individual counterparty is restricted by the credit
interest rate risk. The Group manages its cash flow limits set by the Credit Committee based on the
interest rate risk by using floating-to-fixed interest ongoing credit evaluation.
rate swaps. Such interest rate swaps have the
economic effect of converting the borrowings from The top 10 trade debtors of GENS Group as at 31
floating rates to fixed rates. Under the interest rate December 2014 represented 16% (2013: 20%)
swaps, the Group agrees with financial institutions of its trade receivables. The GENS Group also
to exchange, at specified intervals, the difference establishes an allowance account for impairment
between the fixed contract rates and floating-rate that represents its estimate of losses in respect of
interest amounts calculated by reference to the trade and other receivables. The main component
agreed notional principal amounts. The Group also of this allowance is estimated losses that relate to
enters into Interest Rate Capped Libor-In-Arrears the specific counterparties. Subsequently, when the
Swap (IRCLIA) contract to limit its exposure to GENS Group is satisfied that no recovery of such
fluctuation in interest rate movements if the interest losses is possible, the trade and other receivable is
rate moves beyond the capped rate. considered irrecoverable and the amount charged
to the allowance account is then written off against
The Groups outstanding borrowings as at the year the carrying amount of the impaired trade and other
end at variable rates on which hedges have not been receivables.
entered into are denominated mainly in SGD, USD
and RMB. At the reporting date, if annual interest The Groups cash and cash equivalents and short
rates had been 1% (2013: 1%) higher/lower term deposits are placed with creditworthy financial
respectively, with all other variables in particular institutions and the risks arising thereof are
foreign exchange rates and including tax rate being minimised in view of the financial strength of these
held constant, the profit after tax will be lower/ financial institutions. The risks arising therefrom
higher by RM87.8 million (2013: RM87.9 million) are further minimised by the setting of exposure
as a result of increase/decrease in interest expense limits for each financial institution and the tenure
on these borrowings. of the placements which are normally less than
one year. The approved exposure limit for each
(iii) Credit risk financial institution is subjected to regular reviews.
To minimise the Groups counterparty risk, the
Exposure to credit risk arises mainly from sales Group enters into derivative transactions only with
made on deferred credit terms, cash and cash creditworthy financial institutions.
equivalents, deposits with financial institutions,
money market instruments and debt securities. The Group is exposed to credit risk from non-
Risks arising therefrom are minimised through related counterparties where the Group holds debt
effective monitoring of receivables and suspension securities issued by those entities. The Group only
of sales to customers whose accounts exceed the holds debt securities with issuers which are of
stipulated credit terms. Credit limits are set and investment grade.
credit history is reviewed to minimise potential
losses. The Group also seeks to invest cash assets safely
and profitably and buys insurance to protect itself
The Group avoids, where possible, any significant against insurable risks. In this regard, counterparties
exposure to a single customer. However, in the are assessed for credit risk and limits are set to
ordinary course of business, certain subsidiaries in minimise any potential losses.
the Groups Power Segment have trade receivables
that are solely from their offtakers, the provincial or
national electricity utility companies. As such, the
counter party risk is considered to be minimal.

31 December 2014

(iii) Credit risk (contd)
At the Company level, credit risk arises from amounts due from subsidiaries, cash and cash equivalents, income
fund and deposits with banks and financial institutions. The Companys exposure to bad debts is not significant.
The Company also manages its credit risk by performing regular reviews of the ageing profile of amounts due from
subsidiaries. The credit risk on income fund is limited because the fund is ultimately deposited with creditworthy
financial institutions.
Financial assets that are neither past due nor impaired
Information regarding trade and other receivables that are neither past due nor impaired is disclosed in Notes 28 and
31. Deposits with banks and other financial institutions, investment securities and derivatives that are neither past due
nor impaired are placed with or entered into with reputable financial institutions or companies with high credit ratings
and no history of default.
Financial assets that are either past due or impaired
Information regarding trade receivables that are past due or impaired is disclosed in Note 31.
Apart from those disclosed above, none of the other financial assets is past due or impaired.
As the Group and the Company do not hold any collateral, the maximum exposure to credit risk for each class of
financial instruments is the carrying amount of that class of financial instruments presented on the statements of
financial position, except as follows:
Company
2014 2013
Corporate guarantee provided to banks on subsidiaries facilities 3,787.5 4,609.2
(iv) Price risk
The Group is exposed to equity securities price risk from its investments in quoted securities classified as financial
assets at fair value through profit or loss, available-for-sale financial assets and derivative financial instruments. To
manage its price risk arising from investments in equity securities, the Group diversifies its portfolio and diversification
of the portfolio is done in accordance with the limits set by the Group.
If the prices of equity securities and derivative financial instruments listed in the respective countries change by 1%
(2013: 1%) respectively with all other variables including tax rate being held constant, the Groups profit after tax and
OCI for the current and previous financial years will be as follows:
2014 Increase/Decrease
Listed equity securities and derivative financial instruments
increase/decrease 1% 22.2 32.6
2013 Increase/Decrease
Listed equity securities and derivative financial instruments
increase/decrease 1% 1.6 47.7
Profit after tax would increase/decrease as a result of gains/losses on equity securities classified as at fair value through
profit or loss and derivative financial instruments. Other components of equity would increase/decrease as a result of
gains/losses on equity securities classified as available-for-sale.

31 December 2014

(v) Liquidity risk
The Group practises prudent liquidity risk management to minimise the mismatch of financial assets and liabilities. The
Groups cash flow is reviewed regularly to ensure that the Group is able to settle its commitments when they fall due.

The Group manages its liquidity risk with the view to maintaining a healthy level of cash and cash equivalents appropriate
to the operating environment and expected cash flows of the Group. Liquidity requirements are maintained within its
undrawn committed borrowing facilities at all times and are sufficient and available to the Group to meet its obligations.
Generally, surplus cash held by the operating entities over and above the balance required for working capital management
are managed by the Group Treasury. The Group Treasury invests surplus cash in interest bearing accounts, money market
deposits and marketable securities, choosing instruments with appropriate maturities or sufficient liquidity to provide
sufficient headroom as determined by the above-mentioned cash flows of the Group.
The table below analyses the financial liabilities into relevant maturity groupings based on the remaining period at the
reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted
cash flows.
Less than Between 1 Between 2 Over

1 year and 2 years and 5 years 5 years
Group
At 31 December 2014
Other non-current liabilities - 7.5 - -
Derivative financial instruments
- hedged 4.7 2.8 129.7 80.9
- unhedged 2.6 2.7 (5.3) (40.7)
Trade and other payables 4,317.0 - - -
Borrowings 2,251.3 2,170.1 6,680.7 4,129.2
Amounts due to joint ventures 29.0 - - -
Company
At 31 December 2014
Trade and other payables 35.2 - - -
Amounts due to subsidiaries
- current 17.4 - - -
- non-current 179.8 180.3 2,126.9 2,596.1
Financial guarantee contracts 3,787.5 - - -
Less than Between 1 Between 2 Over

1 year and 2 years and 5 years 5 years
Group
At 31 December 2013
Other non-current liabilities - 1.1 1.3 -
Derivative financial instruments
- hedged 4.0 1.2 0.3 -
- unhedged 4.6 - 64.5 (42.1)
Trade and other payables 4,078.5 - - -
Borrowings 3,001.3 1,875.2 5,869.5 5,331.6
Amounts due to joint ventures 57.9 - - -
Company
At 31 December 2013
Trade and other payables 33.6 - - -
Amounts due to subsidiaries
- current 1,034.5 - - -
- non-current 179.8 179.8 539.9 4,363.3
Financial guarantee contracts 4,609.2 - - -

31 December 2014

(b) Capital management
The Groups objectives when managing capital are to safeguard the Groups ability to continue as a going concern and to
maintain an optimal capital structure so as to provide returns for shareholders and benefits for other stakeholders.
In order to optimise the capital structure, or the capital allocation amongst the Groups various businesses, the Group may
adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares and warrants, buy back
issued shares, take on new debt or sell assets to reduce debt.

Consistent with others in the industry, the Group monitors capital utilisation on the basis of the gearing ratio. This ratio is
calculated as total debt divided by total capital. Total debt is calculated as total borrowings (comprising short term and long
term borrowings as shown in the statements of financial position). Total capital is calculated as the sum of total equity and
total debt.
The gearing ratio as at 31 December 2014 and 2013 are as follows:
Group
2014 2013
Total debt 12,552.6 13,385.4
Total equity 53,058.7 50,572.6
Total capital 65,611.3 63,958.0
Gearing ratio 19% 21%
There were no changes in the Groups approach to capital management during the current financial year.
The Group was in compliance with externally imposed capital requirements for the financial years ended 31 December 2014
and 2013.
(c) Fair value measurement

The assets and liabilities carried at fair value are categorised into different levels of the fair value hierarchy as follows:
Level 1 : Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 : Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
directly (that is, as prices) or indirectly (that is, derived from prices).
Level 3 : Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).
The following table presents the Groups financial instruments that are measured at fair value.
Group Level 1 Level 2 Level 3 Total

At 31 December 2014
Financial assets
Financial assets at fair value through profit or loss 7.2 - - 7.2
Available-for-sale financial assets 3,077.5 4,531.4 928.1 8,537.0
Derivative financial instruments - 101.6 - 101.6
3,084.7 4,633.0 928.1 8,645.8
Financial liability
Company
At 31 December 2014
Available-for-sale financial assets - 200.0 - 200.0

31 December 2014

(c) Fair value measurement (contd)

Group Level 1 Level 2 Level 3 Total
At 31 December 2013
Financial assets
Financial assets at fair value through profit or loss 3.8 - - 3.8
Available-for-sale financial assets 4,766.9 3,956.6 668.9 9,392.4
4,770.7 4,078.1 668.9 9,517.7
Financial liability
The carrying amount less impairment provision of trade receivables and payables are assumed to approximate their fair
values. The fair value of financial liabilities for disclosure purposes is estimated based on the quoted market prices or
dealer quotes for the similar instruments by discounting the future contractual cash flows at the current market interest
rate that is available to the Group for similar financial instruments. The fair value of current borrowings approximates their
carrying amount.
The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting date. A
market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry
group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions
on an arms length basis. The quoted market price used for financial assets held by the Group is the current bid price.
These instruments are included in Level 1.
The fair value of financial instruments that are not traded in an active market (for example, over-the-counter derivatives) is
determined by using valuation techniques. These valuation techniques maximise the use of observable market data where
it is available and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an
instrument are observable, the instrument is included in Level 2.
If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3.
Specific valuation techniques used to value financial instruments include:

Quoted market prices or dealer quotes for similar instruments.
The fair value of interest rate swaps and cross currency swaps are calculated as the present value of the estimated
future cash flows based on observable yield curves.
The fair value of forward foreign currency exchange contracts is determined using forward exchange rates at the
reporting date.
Other techniques, such as discounted cash flow analysis, are used to determine fair value for the remaining financial
instruments.
There were no transfers between Levels 1 and 2 during the current financial year (2013: Nil).
The following table presents the changes in Level 3 financial instruments for the financial year ended 31 December 2014:
Group
2014 2013
Available-for-sale financial assets
As at 1 January 668.9 825.4
Foreign exchange differences 41.9 39.5
Additions 114.9 167.8
Fair value changes recognised in other comprehensive income 122.4 0.4
Impairment loss recognised in income statement (6.8) -
Repayment (5.3) (3.7)
Disposal (7.9) -
Transfer to investment in associate - (360.5)
As at 31 December 928.1 668.9
Although the Group believes that its estimates of fair values are appropriate, the use of different methodologies or
assumptions could lead to different measurement of fair value. For fair value measurement in Level 3, if the carrying value
changes by 5% (2013: 5%), the impact on equity would be RM46.4 million (2013: RM33.4 million).

31 December 2014
5. SEGMENT ANALYSIS

Management has determined the operating segments based on the reports reviewed by the chief operating decision-maker
that are used to make strategic decisions.
The chief operating decision-maker considers the business from both a geographic and industry perspective and has the
following reportable operating segments:
Leisure & Hospitality - This segment includes the hotel, gaming and entertainment businesses, tours & travel
related services and other support services. The contribution from non-gaming operations
is not significant.
Plantation - This segment is involved mainly in oil palm plantations, palm oil milling and related
activities.
Power - This segment is involved in the generation and supply of electric power.
Property - This segment is involved in property development activities.
Oil & Gas - This segment is involved in oil & gas exploration, development and production activities.
All other immaterial business segments including investments in equities are aggregated and disclosed under Investments
& Others as they are not of a sufficient size to be reported separately.
The performance of the operating segments is based on a measure of adjusted earnings before interest, tax, depreciation
and amortisation (EBITDA). This measurement basis also excludes the effects of non-recurring items from the operating
segments, such as fair value gains and losses, gain or loss on disposal of financial assets, gain or loss on deemed dilution
of shareholdings in associates, project costs written off, reversal of previously recognised impairment losses, impairment
losses, pre-opening and development expenses, assets written off, gain or loss on disposal of assets and share-based
payment.
Segment assets consist primarily of property, plant and equipment, intangible assets, inventories, trade and other
receivables, available-for-sale financial assets, financial assets at fair value through profit or loss, and cash and cash
equivalents. Segment assets exclude interest bearing instruments, joint ventures, associates, deferred tax assets, tax
recoverable and assets classified as held for sale as these assets are managed on a group basis.
Segment liabilities comprise operating liabilities. Segment liabilities exclude interest-bearing instruments, tax payables
and deferred tax liabilities as these liabilities are managed on a group basis.
The Power segment relates mainly to Jangi Farm and the Banten Plant while that for the Meizhou Wan power plant has
been reclassified and disclosed as Discontinued Operations up to 10 July 2014, the completion date of the disposal of
51% shareholding in Fujian Pacific Electric Company Limited (see Note 13). Following the completion of the disposal, the
financial results of the Meizhou Wan power plant have been accounted for as a joint venture of the Group.

5. SEGMENT ANALYSIS (contd)
The segment analysis of the Group is set out below:
Continuing
Power Oil & Investments & Operations
Leisure & Hospitality Plantation (Note (ii)) Property Gas Others Total
31 December 2014
US and
2014 Malaysia Singapore UK Bahamas Total Malaysia Indonesia Total
Revenue
Total revenue 6,409.6 7,388.1 1,699.8 999.9 16,497.4 991.4 178.2 1,169.6 770.8 438.5 177.7 241.2 19,295.2
Inter segment (1,047.2) (1.1) - - (1,048.3) - - - - (8.5) (8.8) (13.1) (1,078.7)
External 5,362.4 7,387.0 1,699.8 999.9 15,449.1 991.4 178.2 1,169.6 770.8 430.0 168.9 228.1 18,216.5
Results
Adjusted EBITDA 2,394.1 3,013.0 252.1 24.7 5,683.9 406.6 38.6 445.2 24.0 156.7 93.7 224.0 6,627.5
Net fair value gain/(loss) on derivative
financial instruments 5.6 4.5 - - 10.1 - - - (60.3) - - (365.1) (415.3)
Gain on disposal of available-for-sale
financial assets - - - - - - - - - - - 419.0 419.0
Gain on deemed dilution of
shareholdings in associates - - - - - - - - - - - 6.0 6.0
Project costs written off - - - (98.2) (98.2) - - - - - - - (98.2)
Reversal of previously recognised
impairment losses 5.1 - - - 5.1 - - - - 17.5 - - 22.6
Impairment losses - (15.1) (83.3) - (98.4) - - - (14.2) - - (152.4) (265.0)
Depreciation and amortisation (307.6) (1,080.0) (100.5) (176.2) (1,664.3) (43.1) (17.1) (60.2) (12.1) (17.7) (41.3) (28.6) (1,824.2)
Interest income 386.3
Finance cost (437.0)
Share of results in joint ventures - 13.7 - - 13.7 - - - 55.1 14.2 - 3.3 86.3
Share of results in associates (5.5) 13.7 - - 8.2 3.7 - 3.7 (40.2) (0.1) - (8.6) (37.0)
Others (Note (i)) (36.6) (59.8) (10.1) (29.7) (136.2) 4.0 (0.6) 3.4 0.8 2.5 (18.4) (60.8) (208.7)
Profit before taxation 4,262.3
Taxation (1,108.7)
Profit for the financial year 3,153.6
GENTING BERHAD Annual Report 2014

103
The segment analysis of the Group is set out below:
104
Continuing
Power Oil & Investments & Operations
Leisure & Hospitality Plantation (Note (ii)) Property Gas Others Total
31 December 2014
US and
Revenue
Total revenue 6,781.0 7,159.5 1,591.4 941.8 16,473.7 973.7 106.0 1,079.7 252.1 336.5 7.5 88.2 18,237.7
Inter segment (1,097.9) (1.2) - - (1,099.1) - - - - (5.3) (7.5) (14.1) (1,126.0)
External 5,683.1 7,158.3 1,591.4 941.8 15,374.6 973.7 106.0 1,079.7 252.1 331.2 - 74.1 17,111.7
Results
Adjusted EBITDA 2,458.8 2,945.8 230.3 185.8 5,820.7 318.5 23.4 341.9 35.7 81.1 (57.9) (105.1) 6,116.4
Net fair value gain on derivative
financial instruments - 5.6 - - 5.6 - - - 39.8 - - 267.0 312.4
Gain on disposal of available-for-sale
financial assets - - - - - - - - - - - 100.0 100.0

Gain on deemed dilution of
shareholdings in associates - - - - - - - - - - - 40.4 40.4
Reversal of previously recognised
impairment losses 11.1 - - - 11.1 - - - - - - - 11.1
Impairment losses - (10.0) (77.2) - (87.2) - - - (22.0) - - - (109.2)
Depreciation and amortisation (298.4) (1,058.5) (83.4) (126.8) (1,567.1) (39.1) (8.7) (47.8) (11.9) (37.6) (0.5) (27.8) (1,692.7)
Interest income 269.6
Finance cost (460.0)
Share of results in joint ventures - 9.0 - - 9.0 - - - - 10.4 - 100.3 119.7
Share of results in associates (0.7) - - - (0.7) 3.8 - 3.8 (43.1) 3.8 - (16.5) (52.7)
Others (Note (i)) (49.6) (183.2) (0.7) (39.1) (272.6) (0.5) (0.1) (0.6) (3.7) (0.2) (1.2) (32.5) (310.8)
Profit before taxation 4,344.2

Taxation (746.9)
Profit for the financial year 3,597.3
Notes:
(i) Others include pre-operating and development expenses, assets written off, gain or loss on disposal of assets and share-based payment expenses.
(ii) The Group had accounted for the construction and development of the 660MW coal-fired power plant in the Banten Province, West Java, Indonesia (Banten Plant) which commenced in the previous
financial year, in accordance with FRS 111 Construction Contracts as required under IC Interpretation 12 Service Concession Arrangements whereby the construction profit is recognised based on the
percentage of completion method. Construction revenue and costs of approximately RM699.1 million and RM688.8 million respectively (2013: RM152.9 million and RM150.6 million respectively), have
been disclosed under the Power segment in the consolidated income statement for the current financial year ended 31 December 2014 thereby generating a construction profit of RM10.3 million (2013:
RM2.3 million).
Investments &
Leisure & Hospitality Plantation Power Property Oil & Gas Others Total
US and
Assets
31 December 2014
Segment assets 4,961.1 18,961.9 4,259.2 5,661.3 33,843.5 1,427.3 2,199.0 3,626.3 1,913.4 2,581.3 3,649.1 10,400.7 56,014.3
Interest bearing instruments 15,201.5
Joint ventures - 111.1 - - 111.1 - - - 402.4 43.5 - 80.6 637.6
Associates 136.0 240.7 - - 376.7 16.3 - 16.3 236.7 2.7 - 431.8 1,064.2
Unallocated corporate assets 336.3
Assets classified as held for
sale (see Note 33) 37.9
Total assets 73,291.8
Liabilities
Segment liabilities 1,288.8 1,562.9 325.2 271.1 3,448.0 76.7 94.1 170.8 365.2 193.3 499.3 992.1 5,668.7
Unallocated corporate
liabilities 1,990.0
Liabilities classified as held for
sale (see Note 33) 0.7
Total liabilities 20,233.1
Other Disclosure
Capital expenditure*
- Continuing 863.6 401.7 385.1 638.2 2,288.6 84.9 290.1 375.0 1.9 89.4 7.2 90.9 2,853.0
- Discontinued operations -
2,853.0
Other significant non-cash
charges/(credits) 30.2 676.7 - 5.9 712.8 4.4 - 4.4 7.4 - (0.9) 1.0 724.7

105
Investments &
Leisure & Hospitality Plantation Power Property Oil & Gas Others Total
106
US and
Assets
31 December 2014
Segment assets 4,372.0 20,289.9 3,903.1 4,829.0 33,394.0 1,353.4 1,670.4 3,023.8 833.6 2,606.2 1,755.8 10,283.8 51,897.2
Joint ventures - 95.2 - - 95.2 - - - - 37.5 - 73.1 205.8
Associates 141.3 - - - 141.3 16.5 0.3 16.8 266.7 7.8 - 411.4 844.0
Unallocated corporate assets 291.2
Assets classified as held for
sale (see Note 33) 2,060.5
Total assets 71,495.5
Liabilities
Segment liabilities 1,135.5 1,962.9 359.6 195.0 3,653.0 83.3 114.0 197.3 55.6 147.6 78.7 371.2 4,503.4

Unallocated corporate
liabilities 1,993.1
Liabilities classified as held for
sale (see Note 33) 1,020.1
Total liabilities 20,922.9
Other Disclosure
Capital expenditure*
- Continuing 392.0 857.8 292.8 1,980.4 3,523.0 106.1 292.6 398.7 0.2 270.2 30.8 26.1 4,249.0
- Discontinued operations 1.3

4,250.3
Other significant non-cash
charges 35.2 466.8 - - 502.0 0.6 - 0.6 - 0.2 4.1 1.5 508.4
* Includes capital expenditure in respect of property, plant and equipment, investment properties, plantation development and leasehold land use rights.
31 December 2014
Geographical Information
Revenue and non-current assets information based on the geographical location of customers and assets respectively are as follows:
Revenue Non-current assets

Continuing operations: 2014 2013 2014 2013
Malaysia 6,888.6 7,010.4 6,671.0 6,018.4
Singapore 7,395.7 7,162.1 15,655.7 16,240.9
Asia Pacific (excluding Malaysia & Singapore) 1,181.6 358.1 5,732.9 3,432.1
US and Bahamas 1,036.5 984.7 6,229.9 5,455.8
UK 1,714.1 1,596.4 4,315.9 3,991.5
18,216.5 17,111.7 38,605.4 35,138.7
Non-current assets exclude investments in joint ventures, associates, financial instruments, deferred tax assets and other non-
current assets as presented in the consolidated statements of financial position.
There are no revenues derived from transactions with a single external customer that amounted to 10% or more of the Groups
revenue during the current financial year.
6. REVENUE
Group Company
2014 2013 2014 2013
Rendering of services:
Leisure & hospitality 15,448.4 15,373.8 - -
Rental and property management income 59.8 61.9 - -
Fees from management and licensing services - - 599.9 628.8
Other services 43.5 36.2 17.5 14.7
Sale of goods:
Plantation produce 1,169.6 1,079.7 - -
Development properties 370.2 269.3 - -
Oil and gas 168.9 - - -
Bio-diesel products 101.5 33.7 - -
Coal 20.9 44.8 - -
Others 12.5 10.8 - -
Construction revenue 699.1 152.9 - -
Sale of electricity 45.3 44.4 - -
Dividends income 74.0 - 388.1 1,485.5
Income from available-for-sale financial assets 2.8 4.2 - -
18,216.5 17,111.7 1,005.5 2,129.0
7. COST OF SALES
Group Company
2014 2013 2014 2013
Cost of services and other operating costs 9,927.8 9,380.7 96.3 90.0
Cost of inventories recognised as an expense 1,289.7 1,155.1 - -
Construction cost 688.8 150.6 - -
11,906.3 10,686.4 96.3 90.0
Included in other operating costs are gaming related expenses amounting to RM2,651.1 million (2013: RM2,622.1 million)
for the Group and Nil (2013: Nil) for the Company.

31 December 2014
8. REVERSAL OF PREVIOUSLY RECOGNISED IMPAIRMENT LOSSES/IMPAIRMENT LOSSES

(a) Reversal of previously recognised impairment losses

During the current financial year, the Group has reversed previously recognised impairment losses of RM22.6 million
relating to Genting Malaysia Berhad (GENM) Groups property, plant and equipment and investment property, on the
basis that the recoverable amount exceeded the carrying amount.

In the previous financial year ended 31 December 2013, the Groups reversal of previously recognised impairment losses
of RM11.1 million related to GENM Groups property, plant and equipment, on the basis that the recoverable amount
exceeded the carrying amount.

No reversal of previously recognised impairment loss was recorded at the Company level for the financial years ended 31
December 2014 and 2013.
(b) Impairment losses

During the current financial year, the impairment losses of the Group comprised RM83.3 million on certain provincial
casino licences and the related assets in the UK as set out in Note 21, RM152.4 million on the Groups available-for-sale
financial assets and RM29.3 million on other assets (i.e. property, plant and equipment) on the basis that the carrying
values exceeded their recoverable amounts.
During the current financial year, the Companys impairment losses of RM88.4 million (2013: Nil) was in relation to the
investment in a wholly owned subsidiary, on the basis that the carrying value exceeded its recoverable amount.
In the previous financial year ended 31 December 2013, the impairment losses of the Group comprised RM77.2 million
on certain provincial casino licences and the related assets in the UK and RM32.0 million on other assets (i.e. property,
plant and equipment and assets classified as held for sale) on the basis that the carrying values exceeded their recoverable
amounts.
9. PROFIT BEFORE TAXATION
Profit before taxation from continuing operations has been determined after inclusion of the following charges and credits.
The expenses by nature of the Group are also disclosed in the charges below:
Group Company
Continuing Operations: 2014 2013 2014 2013
Charges:
Depreciation of property, plant and equipment 1,625.6 1,519.5 1.5 1.6
Depreciation of investment properties 13.5 33.2 - -
Amortisation of leasehold land use rights 0.8 0.6 - -
Amortisation of intangible assets 143.9 139.4 - -
Depletion, depreciation and amortisation of rights of use of oil
and gas assets 40.4 - - -
Directors remuneration excluding estimated monetary value of
benefits-in-kind (see Note 11) 154.8 139.5 62.4 58.1
Impairment losses on property, plant and equipment and
investment properties 63.4 34.4 - -
Impairment losses on intangible assets 49.2 63.3 - -
Impairment loss on available-for-sale financial assets 152.4 - - -
Impairment loss on assets held for sale - 11.5 - -
Inventories written off 1.7 0.7 - -
Property, plant and equipment written off 71.3 82.9 - -
Project costs written off 98.2 - - -
Net loss on disposal of property, plant and equipment 0.6 4.9 - -
Net fair value loss on financial assets at fair value through profit or loss - 0.2 - -
Net fair value loss on derivative financial instruments 415.3 - - -
Impairment losses and write off of receivables 689.2 463.3 - -
Impairment loss in a subsidiary - - 88.4 -
Replanting expenditure 13.1 11.8 - -
Hire of equipment 32.7 36.4 - -
Rental of land and buildings 85.9 78.0 - -
Provision for onerous lease 8.1 - - -
Fair value adjustment of long term receivables 39.4 12.4 - -

31 December 2014
9. PROFIT BEFORE TAXATION (contd)
Group Company
Continuing Operations: (contd) 2014 2013 2014 2013
Charges: (contd)
Finance cost
- Interest on borrowings 378.9 404.1 - -
- Other financing costs 58.1 55.9 - -
437.0 460.0 - -
Net exchange losses realised - 54.5 - -
Net exchange losses unrealised - 23.0 - -
Audit and audit related fees
- Payable to auditors 3.9 3.8 0.3 0.3
- Payable to member firms of an organisation which are separate and
independent legal entities from the auditors 10.9 9.4 - -
Expenditure paid to subsidiaries:
- Finance cost - - 216.9 228.8
- Rental of land and buildings - - 2.6 2.3
- Rental of equipment - - 2.2 2.3
- Service fees - - 2.3 2.1
Waiver of net amount due from a wholly owned subsidiary - - 22.4 -
Net loss on disposal of subsidiaries - 2.8 - -
Repairs and maintenance 258.5 214.7 1.2 1.2
Utilities 136.2 109.1 0.2 0.2
Legal and professional fees 99.2 113.1 5.5 5.4
Transportation costs 97.2 91.9 - -
Credits:
Reversal of previously recognised impairment losses on investment
property and property, plant and equipment 22.6 11.1 - -
Interest income 386.3 269.6 34.8 42.3
Net gain on disposal of available-for-sale financial assets 419.0 100.0 - -
Rental income from land and buildings 130.0 130.0 - -
Reversal of provision of onerous lease - 7.8 - -
Gain on deemed dilution of shareholdings in associates 6.0 40.4 - -
Net fair value gain on financial assets at fair value through profit or loss 3.0 - - -
Net fair value gain on derivative financial instruments - 312.4 5.6 -
Net surplus arising from compensation in respect of land acquired by
the Government 7.4 0.3 - -
Gain on disposal of assets held for sale 7.1 - - -
Net exchange gains realised 33.1 - 17.1 3.2
Net exchange gains unrealised 174.7 - 10.8 21.3
Dividends (gross) from:
- Quoted foreign corporations 106.2 45.9 - -
- Unquoted Malaysian corporations 10.0 - - -
Income from available-for-sale financial assets 25.7 24.3 5.8 4.4
Reversal of contingent losses with a wholly owned subsidiary - - 22.5 1.9
Income from subsidiaries:
- Management and licensing fees - - 600.1 628.8
- Gross dividends - - 388.1 1,485.5
- Interest income - - 30.8 41.4
- Shared services fees - - 16.7 13.8
- Royalty - - 0.2 0.2
Other information:
Non-audit fees and non-audit related costs
- Payable to auditors 1.6 0.6 0.1 0.2
independent legal entities from the auditors 8.3 6.4 0.1 0.5

31 December 2014
10. EMPLOYEE BENEFITS EXPENSE
Group Company
2014 2013 2014 2013
Wages, salaries and bonuses 3,049.9 2,802.9 69.1 65.4

Defined contribution plan 231.4 211.5 11.0 10.2
Other short-term employee benefits 382.6 355.6 6.4 2.3
Share-based payments (see note below) 86.0 42.8 - -
Provision for retirement gratuities, net (see Note 39) 35.3 41.0 9.8 12.1
3,785.2 3,453.8 96.3 90.0
Employee benefits expense, as shown above, includes the remuneration of Executive Directors.
Note: The share-based payments mainly arose from the Performance Share Scheme and Employee Share Option Scheme of GENS.
11. DIRECTORS REMUNERATION
Group Company
2014 2013 2014 2013
Non-Executive Directors:
Fees 0.5 0.5 0.5 0.5
Executive Directors:
Fees 1.0 1.0 0.4 0.4
Salaries and bonuses 114.8 98.8 43.2 40.2
Other short-term employee benefits 2.9 0.6 2.4 0.1
Share-based payments 4.1 4.6 - -
154.3 139.0 61.9 57.6
Directors remuneration excluding estimated monetary value of
benefits-in-kind (see Note 9) 154.8 139.5 62.4 58.1
Estimated monetary value of benefits-in-kind (not charged to the
income statements) in respect of Executive Directors 1.6 1.4 - -
156.4 140.9 62.4 58.1
Remuneration of Directors of the Company, in respect of services rendered to the Company and its subsidiaries is in the
following bands:
2014 2013
Number
Non-Executive Directors:
0.10 - 0.15 3 3
0.15 - 0.20 1 1
Executive Directors:
1.00 - 1.05 - 1
1.25 - 1.30 1 -
2.80 - 2.85 - 1
3.00 - 3.05 1 -
136.45 - 136.50 - 1
151.60 - 151.65 1 -

31 December 2014
12. TAXATION
Group Company
2014 2013 2014 2013
Current taxation charge:
Malaysian taxation 641.0 668.5 126.9 260.2
Foreign taxation 586.3 559.7 - -
1,227.3 1,228.2 126.9 260.2
Deferred tax credit (see Note 29) (105.3) (474.7) (2.5) (2.3)
1,122.0 753.5 124.4 257.9
Prior years taxation:
Income tax over provided (13.3) (6.6) (3.6) (2.2)
1,108.7 746.9 120.8 255.7
Discontinued operations: (see Note 13)
Current taxation charge:
Foreign taxation 10.1 21.4 - -
Deferred tax charge (see Note 29) 10.7 22.9 - -
20.8 44.3 - -
Prior years taxation:
Income tax over provided (1.0) - - -
19.8 44.3 - -
The reconciliation between the average effective tax rate and the Malaysian tax rate of continuing operations is as follows:
Group Company
2014 2013 2014 2013
% % % %
Malaysian tax rate 25.0 25.0 25.0 25.0
Tax effects of:
- expenses not deductible for tax purposes 7.6 5.0 12.9 3.6
- over provision in prior years (0.3) (0.1) (0.5) (0.1)
- different tax regime (4.2) (4.6) - -
- tax incentives (1.9) (0.7) (2.3) -
- income not subject to tax (3.0) (1.1) (17.5) (14.6)
- recognition of previously unrecognised tax losses and
capital allowances (0.7) (4.5) - -
- others 3.5 (1.8) - -
Average effective tax rate 26.0 17.2 17.6 13.9
Taxation is calculated at the Malaysian statutory tax rate of 25% (2013: 25%) on the estimated chargeable profit for the year
of assessment 2014.
The income tax effect of the other comprehensive income/loss items, which are individually not material, is RM2.2 million
(2013: RM0.3 million) in the current financial year.

31 December 2014
13. DISCONTINUED OPERATIONS/DISPOSAL OF SUBSIDIARIES
Meizhou Wan
On 13 November 2013, Fujian Electric (Hong Kong) LDC signed a Sale and Purchase Agreement (SPA) for the disposal of
a 51% equity interest in Fujian Pacific Electric Company Limited (Meizhou Wan). The disposal was completed on 10 July
2014 and the Group recognised a loss arising from disposal of RM3.5 million for the current financial year ended 31 December
2014. Subsequent to the disposal, the financial results of Meizhou Wan have been accounted for as a joint venture from the
date of completion. Details of the disposal are set out in Note 46(b).
The results and cash flows of the discontinued operations are set out below.
(a) (Loss)/Profit for the financial year from discontinued operations:
Group
2014 2013
Revenue 405.1 880.0

Cost of sales (269.3) (662.0)
Gross profit 135.8 218.0
Other income 5.5 14.9
Administration expenses (10.5) (19.5)
Other expenses (79.4) (3.0)
Finance cost (35.6) (58.3)
Profit before taxation of discontinued operations 15.8 152.1
Taxation (see Note 12) (19.8) (44.3)
(Loss)/Profit after taxation of discontinued operations (4.0) 107.8
Loss on disposal of discontinued operations (3.5) -
(Loss)/Profit for the financial year from discontinued operations (7.5) 107.8
(Loss)/Profit from discontinued operations attributable to:
Equity holders of the Company (7.5) 107.8
Non-controlling interests - -
(7.5) 107.8
(b) Net cash flow attributable to discontinued operations:
Group
2014 2013
Net cash from operating activities 97.4 393.4

Net cash used in investing activities (9.7) (43.4)
Net cash used in financing activities (78.4) (183.9)
Net cash flow 9.3 166.1

31 December 2014
13. DISCONTINUED OPERATIONS/DISPOSAL OF SUBSIDIARIES (contd)
(c) The following charges and credits have been included in arriving at profit before taxation of discontinued operations:
Group
2014 2013
Charges:
Depreciation of property, plant and equipment - 2.2
Amortisation of leasehold land use rights - 0.2
Amortisation of intangible assets - 98.3
Assets classified as held for sale written down 73.5 -
Finance cost
- Interest on borrowings 35.1 57.3
- Other financing costs 0.5 1.0
35.6 58.3
Employee benefits expense 3.4 5.4
Net exchange loss realised 5.5 1.1
Audit and audit related fees
independent legal entities from the auditors - 0.2
Credits:
Interest income 4.1 6.0
Net exchange gain unrealised - 0.1
Other information:
Non-audit fees and non-audit related costs
independent legal entities from the auditors 0.1 0.2
(d) The analysis of net cash inflow from the disposal of Meizhou Wan:
2014
At the date of
disposal
Property, plant and equipment 20.1
Leasehold land use rights 2.7
Intangible assets 1,123.6
Deferred tax assets 59.3
Other non-current assets 1.7
Inventories 70.7
Trade and other receivables 155.1
Restricted cash 85.0
Cash and cash equivalents 323.6
Long term and short term borrowings (828.0)
Other non-current liabilities (205.4)
Trade and other payables (100.4)
Taxation (5.2)
Net assets disposed off 702.8
Release of exchange reserve upon disposal 3.5
Loss from disposal of discontinued operations (3.5)
702.8
Fair value of retained interest reclassified to investment in joint venture (349.5)
Cash proceeds from disposal 353.3
Less: Cash and cash equivalent disposed off (323.6)
Net cash inflow on disposal 29.7

31 December 2014
14. EARNINGS PER SHARE
The basic and diluted earnings per share of the Group are computed as follows:
(a) Basic earnings per share:
Basic earnings per share of the Group is calculated by dividing the profit for the financial year by the weighted average
number of ordinary shares in issue during the financial year.
Continuing Operations Discontinued Operations Total

2014 2013 2014 2013 2014 2013
Profit/(Loss) for the financial year
attributable to equity holders of the
Company (RM million) 1,503.6 1,702.3 (7.5) 107.8 1,496.1 1,810.1
Weighted average number of
ordinary shares in issue (million) 3,715.0 3,694.6 3,715.0 3,694.6 3,715.0 3,694.6
Basic earnings/(loss) per share (sen) 40.47 46.07 (0.20) 2.92 40.27 48.99
(b) Diluted earnings per share:
For the diluted earnings per share calculation, the Groups profit for the financial year is reduced by the lower consolidated
earnings from subsidiaries arising from the potential dilution of the Groups shareholdings in those subsidiaries that have
issued potential ordinary shares that are dilutive. The weighted average number of ordinary shares in issue of the Company
is also adjusted to assume conversion of all dilutive potential ordinary shares issued by the Company.

2014 2013 2014 2013 2014 2013
Earnings adjusted as follows:
Profit/(Loss) for the financial year
attributable to equity holders of the
Company (RM million) 1,503.6 1,702.3 (7.5) 107.8 1,496.1 1,810.1
Net impact on earnings on potential
exercise of Employees Share Options
and Performance Share Scheme
awarded to executives of the
Companys subsidiaries and warrants
issued to shareholders of the
Companys subsidiary (RM million) (4.1) (3.3) - - (4.1) (3.3)
Adjusted earnings/(loss) for the
financial year (RM million) 1,499.5 1,699.0 (7.5) 107.8 1,492.0 1,806.8
Weighted average number of ordinary shares adjusted as follows:

2014 2013 2014 2013 2014 2013
Weighted average number of ordinary
shares in issue (million) 3,715.0 3,694.6 3,715.0 3,694.6 3,715.0 3,694.6
Adjustment for potential conversion of
warrants of the Company (million) 133.4 1.3 133.4 1.3 133.4 1.3
Adjusted weighted average number of
ordinary shares in issue (million) 3,848.4 3,695.9 3,848.4 3,695.9 3,848.4 3,695.9
Diluted earnings/(loss) per share (sen) 38.96 45.97 (0.19) 2.92 38.77 48.89

31 December 2014
15. DIVIDENDS

Dividends recognised as distribution to ordinary equity holders of the Company:
Group/Company
2014 2013
Gross Amount Gross Amount
dividend of dividend, dividend of dividend,
per share net of tax per share net of tax
Sen RM million Sen RM million
Final dividends paid in respect of previous year - - 4.5 124.7
Interim single-tier dividends paid 1.0 37.2 - -
Special interim cash dividends paid - - 50.0 1,385.5
1.0 37.2 54.5 1,510.2
At the forthcoming Annual General Meeting, a final single-tier dividend in respect of the financial year ended 31 December
2014 of 3.0 sen per ordinary share of 10 sen each amounting to RM111.5 million (2013: Nil) will be proposed for shareholders
approval. These financial statements do not reflect this final single-tier dividend which will be accrued as a liability upon
approval by shareholders.
16. PROPERTY, PLANT AND EQUIPMENT
Plant, Aircrafts,
equipment, sea
Freehold Leasehold vehicles vessels
2014 Freehold buildings and Leasehold buildings and and exhibit and Construction
Group lands improvements lands improvements animals improvements in progress Total
Net Book Value:

At 1 January 2014 1,429.9 3,387.9 2,341.4 7,574.7 7,916.4 557.8 1,362.1 24,570.2
Additions 0.3 90.1 34.1 16.2 315.9 69.8 2,091.8 2,618.2
Disposals (0.2) (1.0) (10.5) - (5.7) (0.2) - (17.6)
Written off - (30.5) - (10.4) (21.2) (3.2) (6.0) (71.3)
Depreciation charged for
the financial year - (114.8) (31.1) (206.6) (1,249.1) (24.0) - (1,625.6)
Assets of companies
acquired - 0.8 31.6 6.6 40.5 - - 79.5
Transfer from/(to):
- Land held for property
development
(see Note 17) 74.2 - - - - - - 74.2
- Intangible assets
(see Note 21) (4.9) - - (37.9) - - - (42.8)
- Investment properties
(see Note 18) - (0.5) - - - - - (0.5)
Depreciation capitalised
under:
- Plantation
development
(see Note 19) - (7.6) - - (4.8) - - (12.4)
- Rights of use of oil
and gas assets
(see Note 22) - - - - (6.2) - - (6.2)
- Long term lease
prepayment - - - - - - (15.2) (15.2)
Reclassification - 386.0 - 47.9 313.7 (0.1) (747.5) -
Impairment losses - - - (34.1) (29.3) - - (63.4)
Reversal of impairment
losses - - 1.8 3.3 - - - 5.1
Cost adjustments - - (6.5) 8.2 (52.0) - 8.8 (41.5)
Foreign exchange
differences 48.4 22.2 38.9 135.3 122.3 17.0 52.8 436.9
At 31 December 2014 1,547.7 3,732.6 2,399.7 7,503.2 7,340.5 617.1 2,746.8 25,887.6

31 December 2014
16. PROPERTY, PLANT AND EQUIPMENT (contd)
Plant, Aircrafts,
equipment, sea
At 31 December 2014:
Cost or valuation 1,547.7 5,120.0 2,672.2 8,653.5 14,462.6 685.4 2,746.8 35,888.2
Accumulated depreciation - (1,387.4) (271.0) (1,031.6) (7,077.0) (68.3) - (9,835.3)
Accumulated impairment
losses - - (1.5) (118.7) (45.1) - - (165.3)
Net book value 1,547.7 3,732.6 2,399.7 7,503.2 7,340.5 617.1 2,746.8 25,887.6
Comprising
Cost 1,288.7 4,924.5 2,629.5 8,653.5 14,451.2 685.4 2,746.8 35,379.6
At valuation:
- 1981 46.6 - - - - - - 46.6
- 1982 8.8 76.7 - - 2.9 - - 88.4
- 1983 105.1 2.3 - - - - - 107.4
- 1986 - - - - 8.5 - - 8.5
- 1989 83.3 115.8 - - - - - 199.1
- 1991 - 0.7 34.0 - - - - 34.7
- 1995 - - 8.7 - - - - 8.7
- 1996 15.2 - - - - - - 15.2
1,547.7 5,120.0 2,672.2 8,653.5 14,462.6 685.4 2,746.8 35,888.2
Plant, Aircrafts,
equipment, sea
Net Book Value:

At 1 January 2013 898.4 3,255.1 1,708.0 7,388.2 8,142.8 250.4 523.1 22,166.0
Additions 603.7 109.3 648.3 34.8 504.2 326.4 1,557.0 3,783.7
Disposals - - (1.9) - (9.3) - - (11.2)
Written off - (40.9) (0.5) (5.5) (32.4) - (3.6) (82.9)
Depreciation charged
for the financial year - (103.3) (30.1) (201.1) (1,168.6) (18.6) - (1,521.7)
Assets of companies
acquired - - - 1.2 0.3 - - 1.5
Reclassification to
assets held for sale
(see Note 33) (1.8) (13.7) - (18.8) (3.4) - (8.3) (46.0)
Transfer to:
- Intangible assets
(see Note 21) - - - (12.1) (35.5) - - (47.6)
- Investment properties
(see Note 18) (101.3) (0.1) (23.9) (0.1) - - - (125.4)
Depreciation capitalised
under:
- Plantation
development
(see Note 19) - (10.0) - - (5.1) - - (15.1)
- Rights of use of oil
and gas assets
(see Note 22) - - - - (3.6) - - (3.6)
Reclassification - 170.3 - 160.1 363.4 - (693.8) -
Impairment losses - - - (13.9) (20.5) - - (34.4)
Reversal of impairment
losses - - - 11.1 - - - 11.1
Cost adjustments - - (5.4) (10.2) (13.9) - (15.0) (44.5)
Foreign exchange
differences 30.9 21.2 46.9 241.0 198.0 (0.4) 2.7 540.3
At 31 December 2013 1,429.9 3,387.9 2,341.4 7,574.7 7,916.4 557.8 1,362.1 24,570.2

31 December 2014
Plant, Aircrafts,
equipment, sea
Cost or valuation 1,429.9 4,676.6 2,574.0 8,468.9 13,895.2 600.1 1,362.1 33,006.8
Accumulated depreciation - (1,288.7) (229.2) (807.8) (5,943.0) (42.3) - (8,311.0)
Accumulated impairment
losses - - (3.4) (86.4) (35.8) - - (125.6)
Net book value 1,429.9 3,387.9 2,341.4 7,574.7 7,916.4 557.8 1,362.1 24,570.2
Comprising
Cost 1,170.9 4,481.1 2,531.3 8,468.9 13,883.8 600.1 1,362.1 32,498.2
At valuation:
- 1981 46.6 - - - - - - 46.6
- 1982 8.8 76.7 - - 2.9 - - 88.4
- 1983 105.1 2.3 - - - - - 107.4
- 1986 - - - - 8.5 - - 8.5
- 1989 83.3 115.8 - - - - - 199.1
- 1991 - 0.7 34.0 - - - - 34.7
- 1995 - - 8.7 - - - - 8.7
- 1996 15.2 - - - - - - 15.2
1,429.9 4,676.6 2,574.0 8,468.9 13,895.2 600.1 1,362.1 33,006.8
Fixed assets have been revalued by the Directors based upon valuations carried out by independent firms of professional
valuers using the fair market value basis except for assets revalued in 1991, which were based on the values determined by a
regulatory authority in connection with a restructuring exercise. The net book value of the revalued assets of the Group would
have amounted to RM228.5 million (2013: RM229.5 million) had such assets been stated in the financial statements at cost.
Property, plant and equipment with a carrying amount of approximately RM283.5 million (2013: RM297.0 million) have been
pledged as collateral as at 31 December 2014 for the USD borrowing in the Groups power plant business.
Banker guarantees of SGD20.0 million (approximately RM52.8 million) (2013: SGD20.0 million or approximately RM51.9
million) were obtained and held by Sentosa Development Corporation (SDC), as part of the conditions in the Development
Agreement entered into with SDC. These guarantees and the bank borrowings of GENS Group are secured over tangible assets
of GENS Group amounting to RM4,132.2 million (2013: RM4,562.8 million), with the exception of leasehold land, and
property, plant and equipment under finance leases.
Freehold Plant,
2014 buildings and equipment
Company improvements and vehicles Total
Net Book Value:
At 1 January 2014 0.4 3.5 3.9
Additions - 0.2 0.2
Depreciation (0.1) (1.4) (1.5)
At 31 December 2014 0.3 2.3 2.6
Cost 8.8 18.2 27.0
Accumulated depreciation (8.5) (15.9) (24.4)
Net book value 0.3 2.3 2.6

31 December 2014
Freehold Plant,
2013 buildings and equipment
Company improvements and vehicles Total
Net Book Value:
At 1 January 2013 0.5 4.2 4.7
Additions - 0.9 0.9
Disposal - (0.1) (0.1)
Depreciation (0.1) (1.5) (1.6)
At 31 December 2013 0.4 3.5 3.9
Cost 8.8 18.3 27.1
Accumulated depreciation (8.4) (14.8) (23.2)
Net book value 0.4 3.5 3.9
17. PROPERTY DEVELOPMENT ACTIVITIES
Group
2014 2013
(a) Land held for property development:
Freehold land 258.7 336.0
Development costs 84.6 87.9
343.3 423.9
At 1 January
- freehold land 336.0 344.7
- development costs 87.9 423.9 122.5 467.2
Costs incurred during the financial year
- development costs 23.0 11.7
Costs charged to income statement (12.3) -
Freehold land reclassified to property, plant and equipment (see Note 16) (74.2) -
Costs transferred to property development costs (see Note 17(b))
- freehold land (2.7) (0.6)
- development costs (11.1) (13.8) (3.3) (3.9)
Costs transferred to assets classified as held for sale
- development costs (2.9) (3.3) (38.4) (46.5)
At 31 December 343.3 423.9
(b) Property development costs:
Freehold land 4.3 3.6
Development costs 104.6 116.6
Accumulated costs charged to income statement (48.9) (64.1)
60.0 56.1
At 1 January
- freehold land 3.6 3.5
- accumulated costs charged to income statement (64.1) 56.1 (27.9) 35.2
Costs incurred during the financial year
Costs charged to income statement (100.4) (66.0)
Costs transferred from land held for property development (see Note 17(a)) 13.8 3.9
Costs transferred to inventories
- development costs (154.7) (34.8)
- accumulated costs charged to income statement 115.6 (41.1) 29.8 (5.5)
At 31 December 60.0 56.1

31 December 2014
18. INVESTMENT PROPERTIES
Group
2014 2013
Net Book Value:

At 1 January 1,589.5 1,149.9
Transfer from property, plant and equipment (see Note 16) 0.5 125.4
Transfer to land held for property development (0.5) -
Depreciation charged for the financial year (13.5) (33.2)
Reversal of previously recognised impairment losses 17.4 -
Foreign exchange differences 66.0 80.2
At 31 December 1,729.6 1,589.5
At 31 December:
Cost 1,960.4 1,810.7
Accumulated depreciation (195.0) (169.6)
Accumulated impairment losses (35.8) (51.6)
Net book value 1,729.6 1,589.5
Fair value at end of the financial year 2,980.2 1,734.5
Fair values of the Groups investment properties at the end of the financial year have been determined by independent
professional valuers based on the market comparable approach that reflects the recent transaction prices for similar properties
and are within Level 2 of the fair value hierarchy.
The aggregate rental income and direct operating expenses arising from investment properties that generated rental income
which was recognised during the financial year amounted to RM45.3 million and RM32.0 million (2013: RM46.9 million and
RM56.8 million) respectively.
19. PLANTATION DEVELOPMENT
Group
2014 2013
Net Book Value:

At 1 January 1,505.0 1,425.8
Assets of subsidiaries acquired 80.7 -
Disposal (0.1) -
Depreciation of property, plant and equipment capitalised (see Note 16) 12.4 15.1
Amortisation of leasehold land use rights capitalised (see Note 20) 2.5 2.6
Foreign exchange differences 39.1 (116.4)
At 31 December 1,754.3 1,505.0

31 December 2014
20. LEASEHOLD LAND USE RIGHTS
Group
2014 2013
Net Book Value:

At 1 January 238.7 238.3
Additions 65.2 21.5
Amortisation (0.8) (0.8)
Amortisation capitalised under plantation development (see Note 19) (2.5) (2.6)
Reclassification to assets held for sale (see Note 33) - (2.9)
Foreign exchange differences 4.7 (14.8)
At 31 December 305.3 238.7
At 31 December:
Cost 324.3 256.3
Accumulated amortisation (19.0) (17.6)
Net book value 305.3 238.7
Leasehold land use rights with an aggregate carrying value of RM202.3 million (2013: RM175.6 million) are pledged as
securities for borrowings.
The Group holds land rights in Indonesia in the form of Hak Guna Usaha (HGU), which give the rights to cultivate land for
agricultural purposes with expiry dates between 2037 and 2044. The Group also holds other rights relating to certain plots of
land in Indonesia and the Group is at various stages of the application process in converting such rights to HGU.
21. INTANGIBLE ASSETS
Intellectual
property rights
and
Casino Concession development Other
Group Goodwill licences Licences rights Trademarks costs intangibles Total
Net Book Value:

At 1 January 2014 730.9 2,126.5 2,239.5 - 75.2 142.9 15.0 5,330.0
Foreign exchange
differences 15.1 28.9 123.6 - 1.1 - 0.2 168.9
Additions - - 4.8 - - - 9.2 14.0
Acquisition of
subsidiaries 51.7 - - - - - - 51.7
Amortisation - (49.1) (80.2) - - (12.2) (2.4) (143.9)
Transfer from property,
plant and equipment
(see Note 16) - - 42.8 - - - - 42.8
Disposal - - - - - - (0.3) (0.3)
Impairment losses - (49.2) - - - - - (49.2)
At 31 December 2014 797.7 2,057.1 2,330.5 - 76.3 130.7 21.7 5,414.0
Cost 2,198.1 2,789.5 2,603.1 - 76.3 175.9 81.8 7,924.7
Accumulated
amortisation - (95.4) (272.6) - - (45.2) (23.6) (436.8)
Accumulated
impairment losses (1,400.4) (637.0) - - - - (36.5) (2,073.9)
Net book value 797.7 2,057.1 2,330.5 - 76.3 130.7 21.7 5,414.0

31 December 2014
21. INTANGIBLE ASSETS (contd)
Intellectual
property rights
and
Casino Concession development Other
Group Goodwill licences Licences rights Trademark costs intangibles Total
Net Book Value:

At 1 January 2013 673.3 1,938.8 2,063.5 1,166.2 69.5 155.1 47.9 6,114.3
Foreign exchange
differences 15.9 148.8 149.0 112.9 5.7 - 1.3 433.6
Additions - 147.9 23.8 45.2 - - 1.3 218.2
Acquisition of subsidiary 41.7 - - - - - 3.2 44.9
Amortisation - (45.7) (74.5) (98.3) - (12.2) (7.0) (237.7)
Transfer from property,
plant and equipment
(see Note 16) - - 47.6 - - - - 47.6
Reclassification to
assets held for sale
(see Note 33) - - - (1,226.0) - - - (1,226.0)
Reclassification - - 30.1 - - - (30.1) -
Written off - - - - - - (1.6) (1.6)
Impairment losses - (63.3) - - - - - (63.3)
At 31 December 2013 730.9 2,126.5 2,239.5 - 75.2 142.9 15.0 5,330.0
Cost 2,110.2 2,752.9 2,417.0 - 75.2 175.9 71.8 7,603.0
Accumulated
amortisation - (44.4) (177.5) - - (33.0) (20.8) (275.7)
Accumulated
impairment losses (1,379.3) (582.0) - - - - (36.0) (1,997.3)
Net book value 730.9 2,126.5 2,239.5 - 75.2 142.9 15.0 5,330.0
The other intangible assets comprised software development, patents and research and development costs.
Included in the licences is an amount of RM2,266.5 million (2013: RM2,185.6 million) which has been pledged as collateral
for the GENM Groups USD borrowing.
The intellectual property rights represents the fair value of genomic data arising from the GENP Groups acquisition of the
remaining 50% equity interest in ACGT Intellectual Limited in 2010.
The intellectual property development costs comprise expenditure incurred on intellectual property development relating to the
use of genomics-based techniques and other methods or tools thereof to increase the yields and profit streams principally from
oil palm and other crops where it can be reasonably anticipated that the costs will be recovered through commercialisation,
sale and marketing of all the resulting products from the aforesaid development.
As at 31 December 2014, the expenditure incurred on these intellectual property development represents mainly payments
made in respect of the oil palm and jatropha genome sequencing data received by GENP Group. The remaining amortisation
period of the intellectual property rights and development costs as at 31 December 2014 is 10.75 years (2013: 11.75 years).

31 December 2014
21. INTANGIBLE ASSETS (contd) Goodwill and other intangible assets with indefinite
useful lives UK
(a) Impairment tests for goodwill and other intangible assets
with indefinite useful lives. (i) Goodwill and other intangible assets with indefinite
useful lives casino business in UK
Goodwill and other intangible assets with indefinite
useful lives are allocated to the Groups cash-generating Goodwill and other intangible assets with indefinite
units (CGU) identified according to geographical area useful lives that have been allocated to the UK Group
and business segments. were tested for impairment. Goodwill is allocated
to the UK segment for the purpose of impairment
A segment-level summary of the Groups net book value review. The casino licences, considered to have an
of goodwill and other intangible assets with indefinite indefinite useful life, are assigned to smaller CGUs
useful lives allocation is as follows: for the purposes of impairment review.

Group 2014 2013 The recoverable amounts of goodwill, casino
Goodwill leisure and licences and trademarks in the UK were determined
hospitality segment: based on the higher of fair value less cost to sell
Malaysia 277.1 277.1 and VIU. VIU has been calculated using cash flow
United Kingdom 27.3 27.0 projections. The cash flow projections are based on
United States of America 38.8 36.4 current financial budgets approved by the Directors
Singapore 334.2 328.5 for the next financial year and projections for the
following four years.
Goodwill investment
segment: Key assumptions used for VIU calculations include:
United Kingdom 42.3 41.7
Indonesia 78.0 20.2
Leisure and hospitality
Intangible assets other 2014 2013
than goodwill:
United Kingdom leisure Growth rate 2.25% 2.25%
and hospitality segment
- casino licences 2,002.0 2,023.1 Discount rate 9.00% 10.15%
- trademarks 73.5 72.5
Isle of Man
- trademarks 2.8 2.7 The growth rate did not exceed the long-term average
growth rate for the leisure and hospitality industry in
Goodwill - Malaysia which the CGUs operate and is consistent with the
forecasts included in industry reports.
The impairment test for goodwill relating to the
Malaysia CGU was assessed using the value-in-use Based on the above impairment assessment, the
(VIU) method. Cash flow projections used in this Group recorded impairment losses of RM49.2
calculation were based on financial budgets approved million (2013: RM63.3 million) on casino licences
by management covering a five-year period. Cash flows and RM34.1 million (2013: RM13.9 million)
beyond the five-year period were extrapolated using the on property, plant and equipment in respect of
estimated growth rate stated below. The growth rate did certain casinos outside London on the basis that
not exceed the long-term average growth rate for the the carrying values exceeded recoverable amounts
leisure & hospitality industry in which the CGU operates. based on VIU method.
Key assumptions used in the VIU calculation for 2014 If the growth rate is reduced to 2% (2013: 2%)
include a growth rate and discount rate of 1.0% and or the discount rate is 1% (2013: 1%) higher
9.1% (2013: 1.0% and 6.0%) respectively. with all other variables including tax rate being
held constant, the impairment loss on the casino
Based on the impairment assessment, no impairment is licences will be increased by RM3.8 million and
required for goodwill attributed to the Malaysia CGU. RM12.4 million respectively (2013: RM2.5 million
and RM13.8 million) based on VIU method.
There are no reasonably possible changes in any of the
key assumptions used that would cause the carrying
amount of this CGU to materially exceed the recoverable
amount.

31 December 2014
21. INTANGIBLE ASSETS (contd) 23.5% (2013: 1.7% to 16.8%) and discount rates of
10.6% to 27.9% (2013: 11.9% to 20.2%). Based on
Goodwill and other intangible assets with indefinite impairment assessment, no impairment is required for
useful lives UK (contd) goodwill attributed to the US CGU.
(ii) Acquisition of DNA Electronics Limited (DNAe) There are no reasonably possible changes in any of the
On 25 October 2013, the Group through its indirect amount of this CGU to materially exceed the recoverable
wholly owned subsidiary, EGL completed a series amount.
of transactions which has resulted in DNAe, a
46.65% associate of EGL, becoming a 63.9% Goodwill Singapore
owned subsidiary of EGL. The amount of goodwill
had initially been determined based on provisional The goodwill attributed to the Singapore CGU mainly
fair values assigned to the identifiable assets and arises from the acquisition of 25% equity interest in
liabilities as at acquisition date pending finalisation Resorts World at Sentosa Pte. Ltd. (RWSPL) which has
of the Purchase Price Allocation (PPA) exercise. developed the first integrated resort in Singapore. The
The PPA exercise was subsequently completed impairment test for goodwill relating to the Singapore
during the current financial year and no adjustments CGU was assessed using the VIU method. Cash flow
were required to the provisional fair value assigned projections used in this calculation were based on
to the identifiable assets and liabilities on the date financial budgets approved by management covering a
of acquisition. five-year period. Cash flows beyond the five-year period
were extrapolated using the estimated growth rate stated
The impairment test for goodwill relating to the below. The growth rate is below the long-term average
acquisition of DNAe was assessed using the value- growth rate for the leisure and hospitality industry in
in-use (VIU) method. Cash flow projections used which the CGU operates.
in this calculation were based on financial budgets
approved by management covering a ten-year Key assumptions used in the VIU calculation for 2014
period. Cash flows beyond the ten-year period were include a growth rate and discount rate of 2.0% and
extrapolated using the estimated growth rate stated 7.8% (2013: 2.0% and 8.3%) respectively.
below.
Based on the impairment assessment, no impairment is
Key assumptions used in the VIU calculation include required for goodwill attributed to the Singapore CGU.
a growth rate and discount rate of 1.0% and 30%
respectively. There are no reasonably possible changes in any of the
Based on the impairment assessment, no amount of this CGU to materially exceed the recoverable
impairment is required for goodwill attributed to the amount.
acquisition of DNAe.
Goodwill Indonesia
There are no reasonably possible changes in any
of the key assumptions used that would cause the (i) Acquisition of AsianIndo Holdings Pte Ltd (AIH)
carrying amount of this CGU to materially exceed
the recoverable amount. Goodwill arose in 2010 when the GENP Group
increased its equity interest from 60% to 77% in
Goodwill United States of America (US) a subsidiary of GENP, AIH. This goodwill represents
the excess of the purchase consideration over the
The goodwill attributable to the US CGU arose from the incremental share of net assets, which was based on
acquisition of Omni Center in the City of Miami, Florida, the then existing GENP Groups carrying amounts,
US. instead of fair values of the net assets in AIH when
the additional equity interest was acquired.
The Group has engaged an independent valuer to carry
out a formal valuation of Omni Center, which includes a The impairment test for goodwill was based on the
hotel, retail shops and office building. The recoverable most recent transacted prices of plantation lands
amounts of the Omni Center were determined based on in Indonesia. Based on the impairment assessment,
VIU of the respective properties. Key assumptions used there is no indication of impairment for the goodwill
in the VIU method include the growth rates of 1.5% to attributed to the plantation lands in Indonesia.

31 December 2014
21. INTANGIBLE ASSETS (contd)

Goodwill Indonesia (contd)
(ii) Acquisition of PT Varita Majutama (PTVM)

The goodwill arose from the acquisition of 95% equity interest in PTVM which was completed on 18 July 2014 (see
Note 46(e)). The goodwill is currently based on provisional fair values assigned to the identifiable assets and liabilities
as at acquisition date. Any adjustments to these provisional fair values upon finalisation of the detailed Purchase Price
Allocation exercise will be adjusted to the relevant assets and liabilities, including intangible assets within 12 months
of the acquisition date. As the provisional fair value assigned to the identifiable assets and liabilities were carried out
during the current financial year and the identifiable assets and liabilities have been recorded at their respective fair
values, the goodwill is not tested for impairment at the year end.

Details of net assets acquired and goodwill arising on the above acquisition are set out in Note (a) to the consolidated
statements of cash flows.
22. RIGHTS OF USE OF OIL AND GAS ASSETS
Production
wells, related
2014 Exploration Rights and equipment
Group costs concessions and facilities* Total
Cost:
At 1 January 2014 1,481.4 - - 1,481.4
Addition 908.0 523.5 161.3 1,592.8
Exchange differences 86.0 43.9 10.1 140.0
At 31 December 2014 2,475.4 567.4 171.4 3,214.2
Depletion, depreciation and amortisation:
At 1 January 2014 - - - -
Charge for the financial year - (35.1) (5.3) (40.4)
Exchange differences - (2.2) (0.3) (2.5)
At 31 December 2014 - (37.3) (5.6) (42.9)
Net book value:
At 31 December 2014 2,475.4 530.1 165.8 3,171.3
2013
Group
Cost:
At 1 January 2013 932.6 - - 932.6
Exchange differences 68.8 - - 68.8
Addition 480.0 - - 480.0
At 31 December 2013 1,481.4 - - 1,481.4
Depletion, depreciation and amortisation:
At 1 January 2013 - - - -
Charge for the financial year - - - -
Written off - - - -
At 31 December 2013 - - - -
Net book value:
At 31 December 2013 1,481.4 - - 1,481.4
Exploration costs remain capitalised as the Group is committed to continue exploring and developing these interests.
* Included in production wells, related equipment and facilities is work in progress amounting to RM0.1 million (2013: Nil).

31 December 2014
23. SUBSIDIARIES There were no interest bearing amounts due from

subsidiaries as at 31 December 2014. The interest bearing
Company portion of the amounts due from subsidiaries bore interest
2014 2013 at a rate of 5.9% per annum in the previous financial year.
Investment in subsidiaries: Included in the interest bearing amounts due to subsidiaries

Quoted shares in Malaysia at cost 803.2 803.2 are loans obtained by the Company from the following
Quoted warrants in Malaysia subsidiaries:
at cost 134.3 134.3
Unquoted shares at cost 13,120.3 11,769.2 (i) Loan from Prime Holdings (Labuan) Limited (PHLL),
a wholly owned subsidiary of the Company, was
14,057.8 12,706.7
fully repaid during the current financial year (2013:
Less: Accumulated impairment
USD300.0 million (RM985.7 million)). The loan bore
losses (120.0) (31.6)
an effective interest rate of Nil (2013: 5.9%) per
13,937.8 12,675.1 annum as at the reporting date.
Market value of quoted shares and
warrants 15,680.3 17,042.4 (ii) RM1.45 billion loan from GB Services Berhad, a wholly
owned subsidiary of the Company on 12 November
Amounts due from subsidiaries are
unsecured and comprise: 2009. The loan bears an effective interest rate of 5.3%
Current: (2013: 5.3%) per annum. The entire principal amount
Interest bearing - 1,096.6 of the loan shall be repaid by 8 November 2019
Interest free 44.8 69.6 provided always that the entire principal amount or any
portion thereof, and any accrued and unpaid interest
44.8 1,166.2
thereon shall be immediately due and payable upon
Non-current: the earlier of (i) 8 November 2019; or (ii) request(s)
Interest free 71.0 133.7 from GB Services Berhad for early prepayment of the
loan or any portions thereof; or (iii) the acceleration of
115.8 1,299.9
the loan.
Amounts due to subsidiaries are
unsecured and comprise: (iii) RM0.5 billion loan from Genting Capital Berhad, a
Current: wholly owned subsidiary of the Company on 8 June
Interest bearing - 985.7 2012. The loan bears an effective interest rate of
Interest free 17.4 10.2 4.42% per annum. The entire principal amount of the
17.4 995.9 loan shall be repaid by 8 June 2022 provided always
that the entire principal amount or any portion thereof,
Non-current: and any accrued and unpaid interest thereon shall be
Interest bearing 3,591.8 3,441.6 immediately due and payable upon the earlier of (i)
8 June 2022; or (ii) request(s) from Genting Capital
3,609.2 4,437.5
Berhad for early prepayment of the loan or any portions
thereof; or (iii) the acceleration of the loan.
The subsidiaries are listed in Note 49.

(iv) RM1.5 billion loan from Genting Capital Berhad, a
(a) The market values of quoted shares and warrants are traded
wholly owned subsidiary of the Company on 8 June
in active market and are within Level 1 of the fair value
2012. The loan bears an effective interest rate of
hierarchy.
4.86% per annum. The entire principal amount of the
loan shall be repaid by 8 June 2027 provided always
(b) Apart from the interest free portion of the amounts due from
that the entire principal amount or any portion thereof,
subsidiaries classified as non-current which are considered
and any accrued and unpaid interest thereon shall be
as part of net investment, the carrying value of other interest
immediately due and payable upon the earlier of (i) the
free and interest bearing amounts due from/to subsidiaries
8 June 2027; or (ii) request(s) from Genting Capital
which have no fixed repayment terms approximate their fair
Berhad for early prepayment of the loan or any portions
values based on the discounted cash flows using the market
thereof; or (iii) the acceleration of the loan.
interest rate. The fair values are within Level 2 of the fair
value hierarchy.


31 December 2014
23. SUBSIDIARIES (contd) (k) Summarised financial information on subsidiaries with

material non-controlling interests
(c) As at 31 December 2014, the Companys percentage
shareholding in GENM was 49.3% (2013: 49.3%). Set out below are the summarised financial information
for each subsidiary that has non-controlling interests
GENMs financial results are consolidated with those of the
that are material to the Group. The financial information
Company as its subsidiary notwithstanding the Companys
is based on amounts before inter-company eliminations.
shareholding of less than 50% in GENM. The Company
is the single largest shareholder of GENM with all other
shareholders having dispersed shareholding, and has 2014
consistently and regularly held a majority of the voting Summarised financial GENS GENM GENP
rights exercised at GENMs general meetings, and no other information
shareholder directly or indirectly controls a higher share of
Statements of Financial
voting rights than the Company. In addition, the Company
Position:
has control over GENM by virtue of the ability to manage
the financial and operating policies of GENMs principal Current assets 16,657.9 4,980.5 1,657.4
asset, Resorts World Genting, pursuant to an agreement Non-current assets 16,823.7 15,816.7 3,933.0
between one of the Companys wholly owned subsidiaries Current liabilities (4,073.9) (2,252.6) (369.2)
and GENM. Non-current liabilities (3,770.3) (2,270.9) (1,068.1)
Net assets 25,637.4 16,273.7 4,153.1
(d) During the current financial year, the Company
subscribed to 303,000 Convertible, Non-Cumulative Accumulated non-
Irredeemable Preference Shares issued by its wholly controlling interests of
owned subsidiary, Genting Overseas Holdings Limited, the Group at the end of
which amounted to RM979.9 million. the reporting period 9,377.8 8,318.8 1,979.6
Income Statements:
(e) During the current financial year, the Company Revenue for the
subscribed to 31,000 Convertible, Non-Cumulative financial year 7,393.2 8,229.4 1,642.9
Redeemable Preference Shares issued by its wholly Profit for the financial year 1,640.6 1,140.3 383.8
owned subsidiary, Logan Rock Limited, which amounted Total comprehensive
to RM99.9 million. income for the
financial year 1,103.6 1,191.6 402.7
(f) During the current financial year, the Company Profit for the financial year
subscribed to 26,000,000 Convertible, Non-Cumulative attributable to
Irredeemable Preference Shares issued by its wholly non-controlling interests
owned subsidiary, Genting Genomics Limited, which of the Group 639.7 537.3 179.2
amounted to RM89.6 million.
Statements of Cash Flows:
(g) During the current financial year, the Company Cash inflows from
operating activities 2,524.8 1,540.7 491.3
subscribed to 41,000 Non-convertible, Non-Cumulative
Cash inflow/(outflows) from
Redeemable Preference Shares issued by its wholly
investing activities 183.8 (2,055.4) (389.4)
owned subsidiary, Genting Energy Limited, which
Cash (outflows)/inflow from
amounted to RM142.9 million.
financing activities (2,594.9) (531.5) 142.2
Net increase/(decrease)
(h) During the current financial year, the Company subscribed in cash and cash
to 33,073 Convertible, Non-Cumulative Irredeemable equivalents 113.7 (1,046.2) 244.1
Preference Shares issued by its wholly owned subsidiary,
Dividend paid to
Genting Strategic Investments (Singapore) Pte Ltd,
non-controlling interests
which amounted to RM88.4 million. of the Group 155.6 198.4 14.1
(i) During the current financial year, the Company

subscribed to 63,560,000 Ordinary Shares issued by its
subsidiary, Genting TauRx Diagnostics Centre Sdn Bhd,
which amounted to RM63.7 million.
(j) During the current financial year, the Company redeemed

113,332 Non-convertible, Non-Cumulative Redeemable
Preference Shares issued by its wholly owned subsidiary,
Genting Sanyen (Malaysia) Sdn Bhd, which amounted to
RM113.3 million.

31 December 2014
23. SUBSIDIARIES (contd)
2013
Summarised financial information GENS GENM GENP
Statements of Financial Position:
Current assets 16,073.2 5,417.4 1,397.9
Non-current assets 17,828.2 14,434.5 3,456.5
Current liabilities (3,751.5) (2,040.2) (330.2)
Non-current liabilities (5,134.5) (2,334.1) (920.3)
Net assets 25,015.4 15,477.6 3,603.9
Accumulated non-controlling interests of the Group at the end of the
reporting period 9,294.7 7,957.5 1,629.8
Income Statements:
Revenue for the financial year 7,163.4 8,327.5 1,384.0
Profit for the financial year 1,780.6 1,584.1 219.9
Total comprehensive income for the financial year 2,377.3 2,683.3 91.9
Profit for the financial year attributable to non-controlling interests of
the Group 720.1 787.0 95.5
Statements of Cash Flows:
Cash inflows from operating activities 2,127.6 2,101.8 332.3
Cash outflows from investing activities (2,073.6) (1,777.8) (400.7)
Cash (outflows)/inflow from financing activities (2,018.8) 120.5 (52.4)
Net (decrease)/increase in cash and cash equivalents (1,964.8) 444.5 (120.8)
Dividend paid to non-controlling interests of the Group 152.2 200.6 147.8
24. JOINT VENTURES
Group
2014 2013
Unquoted:
Shares in foreign corporations 503.3 157.1
Shares in a Malaysian company 6.4 14.5
Groups share of post acquisition reserves 129.4 35.7
Less: Accumulated impairment losses (1.5) (1.5)
637.6 205.8
Amounts due from joint ventures 220.3 16.3

Amounts due to joint ventures (29.0) (57.9)
Less: Balance included in other non-current assets (see Note 28) (211.0) (10.3)
Balance included in current assets (9.3) (6.0)
Balance included in current liabilities 29.0 57.9
- -
637.6 205.8
The joint ventures are listed in Note 49.
The amounts due from joint ventures included in current assets are unsecured, interest free and are receivable within the next
twelve months. The amounts due from joint ventures which are more than one year represent the amount from one of joint
venture which is repayable in 2019 and the balance of purchase price receivable from the sale of land to Genting Simon Sdn
Bhd by Genting Property Sdn Bhd, a wholly owned subsidiary of GENP.
On 10 July 2014, the Group completed the disposal of its 51% equity interest in Fujian Pacific Electric Company Limited
(FPECL). Subsequent to the disposal, the financial results of the Meizhou Wan power plant have been accounted for as a joint
venture from the date of the completion of the partial disposal (see Note 46(b)). The Groups interest in FPECL is accounted for
using the equity method in the consolidated financial statements. Summarised financial information of FPECL is set out below:

31 December 2014
24. JOINT VENTURES (contd)

25. ASSOCIATES
FPECL
Summarised financial information 2014 Group
2014 2013
Statement of Financial Position:
Current assets 697.1 Quoted:
Non-current assets 1,238.3 Shares in a Malaysian company 299.7 299.7
Current liabilities (393.2) Groups share of post acquisition
Non-current liabilities (727.5) reserves 33.9 39.2
Net assets 814.7 Less: Accumulated impairment
Included the Statement of Financial Position are: losses (197.6) (197.6)
136.0 141.3
Cash and cash equivalents 477.1
Current financial liabilities (excluding trade and Unquoted at cost:
other payables and provisions) (297.0) Shares in foreign corporations 694.0 456.8
Non-current financial liabilities (excluding trade Shares in Malaysian companies 2.1 2.1
and other payables and provisions) (727.5) Groups share of post acquisition
reserves 232.1 243.8
Statement of Comprehensive Income:
928.2 702.7
Profit for the financial year from continuing
operations 112.4 Amounts due from associates 270.7 -
Included in the Income Statement are: Less: Balance included in other non-
Revenue 472.8 current assets (see Note 28) (267.6) -
Depreciation and amortisation (61.2) Balance included in current
Interest income 5.5 assets (3.1) -
Interest expense (24.0) - -
Income tax expense (34.9) 1,064.2 844.0
Reconciliation of Net Assets to Carrying Amount: Market value of quoted shares 142.8 155.9
As at 31 December 2014 The market values of quoted shares of associates are traded
Groups share of net assets 399.2 in active market and are within Level 1 of the fair value
Elimination of unrealised profit (0.1) hierarchy.
Others 3.3
On 25 October 2013, DNAe ceased to be an associate of the
Carrying amount as at 31 December 2014 402.4
Group and became an indirect subsidiary of the Company
following a series of transactions which were completed in
No comparative of financial information was presented for
October 2013. The results of DNAe have therefore been fully
the above as FPECL was previously accounted as an indirect
consolidated from that date.
subsidiary.
On 27 March 2014, the Group completed the acquisition
FPECL is a private company and therefore no quoted market
of 50% equity interest in Landing Jeju Development Co.,
prices are available for its shares.
Ltd (LJDC) for approximately RM254.0 million (SGD97.5
million). As at 31 December 2014, the Group has finalised
There are no significant restrictions on the ability of FPECL
the notional purchase price allocation and recognised a gain
to transfer funds to the Group in the form of cash dividends.
from bargain purchase of RM28.7 million (SGD11.1 million)
in the share of results of associate in the income statement
The following table summarises, in aggregate, the financial
(see Note 46(a)).
information of all other individually immaterial joint ventures
that are accounted for using the equity method:
The associates are listed in Note 49.
All Other The amounts due from/to associates represent outstanding

Joint Ventures amounts arising from trade transactions and advances and
2014 2013 payments made on behalf of associates, are unsecured,
interest free and repayable on demand.
Carrying amount at 31 December 235.2 205.8
Share of profit from continuing The Group has interests in a number of associates, none of
operations 31.2 119.7 which is individually material to the Group. The following
Share of other comprehensive income 2.5 2.7 table summarises, in aggregate, the financial information of
Share of total comprehensive income 33.7 122.4 all these associates that are accounted for using the equity
method:
There are no contingent liabilities relating to the Groups
interest in joint ventures at the reporting date (2013: Nil).

31 December 2014
25. ASSOCIATES (contd) Included in the available-for-sale financial assets of the

Group is a 50% equity investment of RM1 held in trust for a
All Associates third party which the Group has no beneficial interest.
2014 2013
The fair values of the quoted equity investments and
Carrying amount at 31 December 1,064.2 844.0
portfolio of quoted debt securities are determined based on
Share of loss from continuing operations (37.0) (52.7) the quoted market bid prices available on the relevant stock
Share of other comprehensive income 15.4 6.3
exchanges. The fair values of the unquoted debt securities
Share of total comprehensive loss (21.6) (46.4) are determined based on the price traded over the counter.
The income funds are redeemable at the holders discretion
There are no contingent liabilities relating to the Groups and the fair values are based on the fair values of the
interest in associates at the reporting date (2013: Nil). underlying net assets.
26. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT The fair values of certain unquoted equity investments are
OR LOSS determined based on valuation techniques supported by
observable market data.
The carrying amounts of financial assets at fair value through
profit or loss are classified as follows: Other unquoted equity investments are measured at cost
Group less impairment losses at each reporting date because the
2014 2013 fair values cannot be obtained directly from quoted market
Current price or indirectly using valuation techniques supported by
Held for trading observable market data.
- Equity investments (quoted foreign
corporations) 7.2 3.8
The Group invested in compound financial instruments
The fair values of quoted equity investments are determined which have nominal values amounting in aggregate of
by reference to the bid prices on the relevant stock exchanges. USD2,000.0 million (approximately RM6,953.0 million)
(2013: USD1,575.0 million or approximately RM5,175.1
27. AVAILABLE-FOR-SALE FINANCIAL ASSETS
million). Upon maturity, the compound financial instruments
will be repaid at their nominal values and adjusted for
features stipulated in the term sheets. A nominal value of
Group Company
2014 2013 2014 2013 USD1,000.0 million (approximately RM3,476.5 million)
Equity investments (2013: USD575.0 million or approximately RM1,889.3
in foreign million) of these instruments matured during the current
corporations financial year ended 31 December 2014. Where the
- Quoted 3,077.5 4,766.9 - - derivative is not closely related to the host contract, the
- Unquoted 1,004.7 741.1 - -
derivative and debt securities are separately valued as
Equity investments derivative financial liabilities (see Note 42) and available-
in Malaysian
corporations
for-sale financial assets.
- Unquoted 1.7 1.7 - -
The difference between the fair value of the derivatives
Debt securities
in foreign
and the fair value of the compound financial instruments,
corporations representing the value of the debt securities, is recognised
- Unquoted 82.0 90.2 - - as available-for-sale financial assets until extinguished on
Income funds maturity date. The fair values of the compound financial
in Malaysian instruments are within Level 2 of the fair value hierarchy.
corporation
- Unquoted 900.0 500.0 200.0 - The interest rates for unquoted debt securities was 4.25%
Receivable (2013: 4.25%) per annum and have remaining maturity
from foreign period of less than 1 year as at 31 December 2014 (2013:
corporation
less than 2 years).
- Unquoted - 11.7 - -
Compound financial
instruments
(debt securities)
- Unquoted 3,471.1 3,280.8 - -
8,537.0 9,392.4 200.0 -
Analysed as follows:
Current 5,680.8 5,456.3 200.0 -
Non-current 2,856.2 3,936.1 - -
8,537.0 9,392.4 200.0 -

31 December 2014
28. OTHER NON-CURRENT ASSETS 29. DEFERRED TAXATION

Group
2014 2013 Deferred tax assets and liabilities are offset when there is a
legally enforceable right to offset current tax assets against
Trade receivables 1,465.4 252.7 current tax liabilities and when the deferred tax relates to
Other receivables 387.7 346.7 the same tax authority. The following amounts, determined
after appropriate offsetting, are shown in the statement of
1,853.1 599.4
financial position:
Amounts due from joint ventures
(see Note 24) 211.0 10.3
Amounts due from associates Group Company
(see Note 25) 267.6 - 2014 2013 2014 2013
Prepayments 81.8 24.3
2,413.5 634.0 Deferred tax assets
- subject to income
tax (see (i)
The carrying amounts of the Groups trade and other
below) 303.5 270.7 18.4 15.9
receivables approximate their fair values, which are based
on cash flows discounted using the current market interest Deferred tax
rates. The fair values are within Level 2 of the fair value liabilities
hierarchy. - subject to
income tax (1,406.5) (1,476.5) - -
Included in trade receivables of the Group is an amount - subject to Real
due from customers on contract of RM972.2 million Property Gain
Tax (RPGT) (9.5) (9.5) - -
(2013: RM165.1 million) in relation to the construction of
Total deferred tax
the Groups power plant in Indonesia. The amount will be
liabilities (see
recovered throughout the concession period upon commercial
(ii) below) (1,416.0) (1,486.0) - -
operation of the power plant.
(1,112.5) (1,215.3) 18.4 15.9
Included in other receivables of the Group is an investment
At 1 January (1,215.3) (1,593.1) 15.9 13.6
of RM250.0 million (2013: RM250.0 million) in unquoted
(Credited)/
preference shares in a Malaysian corporation. The preference
charged
shares carry a cumulative, non-compounding fixed dividend
to income
of 4% (2013: 4%) per annum and are subordinated to loan statements
facilities undertaken by the issuer. The preference shares (see Note 12)
are redeemable in two equal tranches on the 8th and 9th - property, plant
anniversary of the issue date which can be extended by the and equipment
issuer. and investment
properties (38.8) 290.6 0.2 0.1
The other long term receivables bear an effective annual - plantation
interest rate of 2.87% to 11.40% (2013: 2.87% to 9.34%). development (19.0) (21.6) - -
- intangible assets (14.2) 8.5 - -
As at 31 December 2014, there were no trade and other - provisions 130.0 15.5 2.3 2.2
receivables (2013: Nil) that were past due but not impaired. - impairment loss
These receivables are not secured by any collateral. on intangible
asset 9.8 (0.2) - -
The maximum exposure to credit risk at the reporting date - unutilised tax
losses 32.7 158.6 - -
is the carrying value of each class of receivable mentioned
- others (5.9) 0.4 - -
above.
94.6 451.8 2.5 2.3
Disposal of
assets held for
sale 10.7 - - -
Reclassification
to assets held
for sale
(see Note 33) - (72.3) - -
Others (2.5) (1.7) - -
At 31 December (1,112.5) (1,215.3) 18.4 15.9

31 December 2014
29. DEFERRED TAXATION (contd) Group Company

2014 2013 2014 2013
Group Company Unutilised tax losses
2014 2013 2014 2013
- Expiring more than
one year and not
Subject to income more than five years 86.7 35.2 - -
tax/RPGT: - No expiry period 427.9 359.7 - -
(i) Deferred tax 514.6 394.9 - -
assets (before
offsetting) Property, plant and
equipment
- property,
(no expiry date) 203.6 170.4 - -
plant and
equipment 21.4 31.6 - - Provision
(no expiry date) 6.2 5.5 - -
- land held
for property 724.4 570.8 - -
development 4.9 4.7 - -
- provisions 303.4 168.6 18.7 16.5 With regards to FRS 112 Income Taxes, the Group will
- tax losses 306.1 256.5 - - continue to recognise in the profit or loss the tax impact
- others 21.7 12.0 - - arising from the Groups unutilised Investment Tax Allowance
657.5 473.4 18.7 16.5 of RM955.7 million (2013: RM992.2 million) as and when
- offsetting (354.0) (202.7) (0.3) (0.6) it is utilised.
Deferred tax
assets (after 30. INVENTORIES
offsetting) 303.5 270.7 18.4 15.9
Group
(ii) Deferred tax 2014 2013
liabilities (before
offsetting)
Stores and spares 227.2 219.7
- property,
Completed properties 80.9 59.9
plant and
Food, beverages and other hotel supplies 92.0 92.8
equipment
Produce stocks and finished goods 19.4 12.8
and
investment 419.5 385.2
properties (1,607.9) (1,538.6) (0.3) (0.6)
- plantation 31. TRADE AND OTHER RECEIVABLES
development (58.5) (40.3) - -
- land held Group Company
for property 2014 2013 2014 2013
development (5.2) (5.2) - -
- intangible Trade receivables 4,587.4 4,104.4 - -
assets (39.8) (70.3) - - Other receivables 709.2 435.7 1.0 0.5
- others (58.6) (34.3) - - Less: Impairment
(1,770.0) (1,688.7) (0.3) (0.6) losses on
- offsetting 354.0 202.7 0.3 0.6 receivables (1,552.6) (1,135.5) - (0.2)
Deferred tax 3,744.0 3,404.6 1.0 0.3
liabilities Accrued billings in
(after respect of property
offsetting) (1,416.0) (1,486.0) - - development 13.1 19.6 - -
Deposits 157.7 129.2 0.7 0.6
The amounts of unutilised tax losses and deductible temporary Prepayments 169.0 419.1 - -
differences for which no deferred tax asset is recognised in 4,083.8 3,972.5 1.7 0.9
the statement of financial position are as follows:
Included in the other receivables of the Group as at 31
December 2014 is an investment of RM241.2 million
(2013: RM135.3 million) in unquoted promissory notes
of a foreign corporation. The promissory notes carry a fixed
interest rate of 15% (2013: 15%) per annum.

31 December 2014
31. TRADE AND OTHER RECEIVABLES (contd)
The carrying amounts of the Groups and the Companys trade and other receivables approximate their fair value.
As at 31 December 2014, trade and other receivables of RM2,390.7 million (2013: RM2,190.2 million) of the Group were past
due but not impaired. The ageing analysis of these trade and other receivables is as follows:
Group Company
2014 2013 2014 2013
Receivables past due:

Past due 0 to 3 months 800.3 732.3 - -
Past due 3 to 6 months 431.9 591.0 - -
Past due over 6 months 1,158.5 866.9 - -
2,390.7 2,190.2 - -
No impairment has been made on these amounts as the Group is closely monitoring these receivables and is confident of their
eventual recovery.
The Groups trade receivables that are individually determined to be impaired at the reporting date relate to customers that are
in significant financial difficulties and have defaulted on payments. The amount of the provision was RM1,552.6 million (2013:
RM1,135.5 million) as at 31 December 2014. These receivables are not secured by any collateral.
The movements on the provision for impairment loss on receivables are as follows:
Group Company
2014 2013 2014 2013
At 1 January 1,135.5 870.9 0.2 0.2

Charge for the financial year 689.2 463.3 - -
Write-off against provision (310.1) (262.6) (0.2) -
Reclassification - 20.2 - -
Foreign exchange differences 38.0 43.7 - -
At 31 December 1,552.6 1,135.5 - 0.2
The maximum exposure to credit risk at the reporting date is the carrying value of each class of receivable mentioned above.
32. CASH AND CASH EQUIVALENTS
Group Company
2014 2013 2014 2013
Deposits with licensed banks 10,890.9 11,787.2 493.4 487.7

Cash and bank balances 4,485.5 4,076.2 7.8 7.5
15,376.4 15,863.4 501.2 495.2
Less: Restricted cash (584.2) (420.1) - -
Bank balances and deposits 14,792.2 15,443.3 501.2 495.2
Add: Money market instruments 1,599.0 2,520.4 422.5 845.8
Cash and cash equivalents 16,391.2 17,963.7 923.7 1,341.0
The deposits of the Group and the Company as at 31 December 2014 have an average maturity period of 25 days (2013: 22
days). Cash and bank balances of the Group and the Company are held at call.
Investment in money market instruments comprises negotiable certificates of deposit and bankers acceptances. The money
market instruments of the Group and the Company as at 31 December 2014 have maturity periods ranging between overnight and
one month (2013: overnight and one month).
Included in deposits with licensed banks for the Group is an amount of RM32.0 million (2013: RM16.5 million) deposited by
an indirect subsidiary involved in property development activities into various Housing Development Accounts in accordance with
Section 7(A) of the Housing Developers (Control and Licensing) Act, 1966. This amount is available for use by the said subsidiary
for the payment of property development expenditure.
Restricted cash relates to the deposits pledged with licensed banks to secure certain bank facilities, mainly denominated in SGD,
USD and INR. These deposits have weighted average interest rates ranging from 0.6% to 6.8% (2013: 0.4% to 7.9%) per annum.

31 December 2014
33. ASSETS/LIABILITIES CLASSIFIED AS HELD FOR SALE
As at 31 December 2014, the following assets or liabilities were classified as held for sale:
(i) Disposal of Meizhou Wan (see Note 13)
Group
Assets classified as held for sale 2014 2013
Property, plant and equipment - 29.5

Leasehold land use rights - 2.9
Intangible assets - 1,226.0
Other non-current assets - 1.9
Deferred tax assets - 72.3
Inventories - 80.1
Trade and other receivables - 148.1
Restricted cash - 87.9
Cash and bank balance - 321.7
- 1,970.4
Liabilities classified as held for sale
Long term borrowings - (782.3)

Other non-current liabilities - (1.7)
Trade and other payables - (88.5)
Short term borrowings - (127.0)
Taxation - (19.5)
- (1,019.0)
The disposal of Meizhou Wan was completed on 10 July 2014, resulting in a loss on disposal of RM3.5 million. Subsequent
to the disposal, the financial results of Meizhou Wan have been accounted for as a joint venture from the date of completion
(see Note 13).
(ii) Planned disposal of land and infrastructure costs and golf course - GENP
Group
Property, plant and equipment 14.7 14.7

Land held for property development 20.4 46.5
Inventories 2.0 2.0
Trade and other receivables 0.8 0.8
37.9 64.0
Other non-current liabilities (0.7) (0.7)
The assets and liabilities held for sale comprised of:
(a) land and infrastructure costs measuring approximately 213.2 acres (2013: 355.42 acres) located in the Mukim of
Kulai and Mukim of Sg Petani; and
(b) a golf course and its recreational club.

31 December 2014
33. ASSETS/LIABILITIES CLASSIFIED AS HELD FOR SALE (contd)
(iii) Planned disposal of a power plants remaining physical assets
Group
Inventories - 0.7
Other receivables - 0.3
Cash and bank balance - 23.3
- 24.3
Other payables - (0.4)

Taxation - -
- (0.4)
The Group was no longer actively looking for interested buyer for the above assets/liabilities classified as held for sale as
at 31 December 2013. As a result, the assets/liabilities classified as held for sale had been reclassified to the respective
assets and liabilities in the statement of financial position during the current financial year.
(iv) Planned disposal of two pieces of freehold land

The Groups assets classified as held for sale of RM1.8 million as at 31 December 2013 comprised two pieces of
freehold land measuring approximately 12.9 acres in the Mukim Tanjung Dua Belas, Kuala Langat, Selangor, which was
subsequently sold to a third party.

The assets classified as held for sale as at 31 December 2013 were disposed of during the current financial year, resulting
in a gain on disposal of RM7.1 million.
34. SHARE CAPITAL
Group/Company
2014 2013
Authorised:
8,000.0 million ordinary shares of 10 sen each 800.0 800.0
Issued and fully paid:
Ordinary shares of 10 sen each
At beginning of the financial year
- 3,719.5 million (2013: 3,719.5 million) 371.9 371.9
Issue of shares:
- pursuant to exercise of warrants: 23.6 million (2013: Nil) 2.4 -
At end of the financial year
- 3,743.1 million (2013: 3,719.5 million) 374.3 371.9
The ordinary shares issued from the exercise of warrants shall rank pari passu in all respects with the existing issued ordinary
shares of the Company except that they shall not be entitled to any dividends, rights, allotments and/or other distributions, the
entitlement date of which is prior to the date of allotment of the new shares arising from the exercise of warrants.

31 December 2014
35. TREASURY SHARES

At the Annual General Meeting of the Company held on 12 June 2014, the shareholders of the Company approved the renewal
of the authority for the Company to purchase its own shares of up to 4% of the issued and paid-up share capital of the Company.
During the current financial year, the Company had purchased a total of 160,000 (2013: 60,000) ordinary shares of RM0.10
each of its issued share capital from the open market at an average price of RM9.86 (2013: RM9.41) per share. The total
consideration paid for the purchase, including transaction costs, was RM1.6 million (2013: RM0.6 million) and was financed
by internally generated funds. The purchased shares are held as treasury shares in accordance with the requirements of Section
67A of the Companies Act, 1965. There is no cancellation, resale or reissuance of treasury shares during the financial year. As
treasury shares, the rights attached as to voting, dividends and participation in other distribution are suspended.
As at 31 December 2014, of the total 3,743,049,706 (2013: 3,719,484,770) issued and fully paid ordinary shares,
25,070,000 (2013: 24,910,000) are held as treasury shares by the Company. As at 31 December 2014, the number of
outstanding ordinary shares in issue after the offset is therefore 3,717,979,706 (2013: 3,694,574,770) ordinary shares of
RM0.10 each.
Details relating to the purchase during the current financial year are as follows:
Total shares Total

purchased consideration Highest Lowest Average
in units paid price price price *
000 RM million RM RM RM
At 1 January 2014 24,910.0 210.9 10.80 3.40 8.47

Shares purchased during the financial year
- February 61.5 0.6 10.10 10.10 10.11
- September 98.5 1.0 9.70 9.69 9.70
At 31 December 2014 25,070.0 212.5 8.47
* Average price includes stamp duty, brokerage and clearing fees.
The Directors of the Company are committed to enhance the value of the Company to its shareholders and believe that the
purchase plan is being applied in the best interests of the Company and its shareholders.
36. RESERVES
Group Company
2014 2013 2014 2013
Share premium 1,416.0 1,195.5 1,416.0 1,195.5

Warrants reserve 1,109.1 1,144.4 1,109.1 1,144.4
Revaluation reserve 305.9 307.2 - -
Fair value reserve 1,259.5 2,093.9 - -
Cash flow hedge reserve (124.9) (1.6) - -
Reserve on exchange differences 1,052.9 161.9 - -
Retained earnings 21,650.6 20,251.7 8,779.3 8,250.9
26,669.1 25,153.0 11,304.4 10,590.8
The Company is under the single tier tax system with effect from year of assessment 2014 and hence, there is no restriction
on the Company to declare the payment of dividends out of its retained earnings.

31 December 2014
36. RESERVES (contd)
The warrants reserve represents monies received from the issuance of 764,201,920 warrants by the Company pursuant to
the Restricted Issue of Warrants. The warrants were listed on the Main Market of Bursa Malaysia Securities Berhad on 23
December 2013. Each warrant carries the right to subscribe for 1 new ordinary share of RM0.10 each in the Company at any
time on or after the issue date up to the expiry date of 18 December 2018 at the exercise price of RM7.96 for each new share.
Any warrant not exercised by the expiry of the exercise period will lapse and cease to be valid for all purposes. The warrants are
constituted by a Deed Poll dated 12 November 2013.
The movements in the warrants reserve and number of warrants during the financial year are summarised below:
Group/Company
Warrants Reserve
No. of Warrants RMmillion
2014 2013 2014 2013
At 1 January 764,201,920 - 1,144.4 -
Arising from the issue of warrants - 764,201,920 - 1,146.3
Exercise of warrants (23,564,936) - (35.3) -
Less: Issuance costs - - - (1.9)
At 31 December 740,636,984 764,201,920 1,109.1 1,144.4
37. PERPETUAL CAPITAL SECURITIES OF A SUBSIDIARY
On 12 March 2012 and 18 April 2012, GENS issued SGD1,800 million 5.125% perpetual capital securities (Institutional
Securities) and SGD500 million 5.125% perpetual capital securities (Retail Securities) respectively at issue prices of 100
per cent each.
Holders of these Institutional and Retail securities are conferred a right to receive distribution on a semi-annual basis from
their issue date at the rate of 5.125% per annum, subject to a step-up rate from 12 September 2022 and 18 October 2022
respectively. GENS has a right to defer this distribution under certain conditions.
The Institutional and Retail securities have no fixed maturity and are redeemable in whole, but not in part, at GENSs option
on or after 12 September 2017 for the Institutional securities and 18 October 2017 for the Retail securities at their principal
amounts together with any accrued, unpaid or deferred distributions. While any distributions are unpaid or deferred, GENS will
not declare, pay dividends or make similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any
securities of lower or equal rank.
These perpetual capital securities were issued for GENSs general corporate purposes as well as to finance capital expenditure
and the expansion of its business.
During the current financial year, the Board of Directors of GENS have approved the payments of the second and third
distribution in respect of the Institutional and Retail Securities. Accordingly, distributions for Institutional Securities amounting
to RM120.9 million (SGD45.8 million) and RM122.9 million (SGD46.5 million) were paid on 11 March 2014 and 11
September 2014 respectively. Distributions for Retail Securities amounting to RM33.8 million (SGD12.8 million) and RM33.9
million (SGD12.9 million) were paid on 17 April 2014 and 20 October 2014 respectively.

31 December 2014
38. BORROWINGS Floating Fixed

interest interest
Group rate rate Total
2014 2013 As at 31 December 2013:
Less than one year 1,561.9 999.4 2,561.3
Current
More than one year
Secured: and less than two
Term loans 1,661.8 1,561.9 years 1,506.0 1.3 1,507.3
Finance lease liabilities 2.1 17.5 More than two years
Unsecured: and less than five
years 5,006.6 - 5,006.6
Fixed rate notes - 981.9
More than five years 715.2 3,595.0 4,310.2
Term loans 173.8 -
1,837.7 2,561.3 8,789.7 4,595.7 13,385.4
Non-current (b) Finance lease liabilities

Secured:
Term loans 6,306.7 6,427.6 The minimum lease payments of the finance lease
Finance lease liabilities 0.2 1.3 liabilities at the reporting date are as follows:
Unsecured:
Medium term notes 3,595.3 3,595.0 Group
Term loans 812.7 800.2 2014 2013
10,714.9 10,824.1
Not more than one year 2.2 20.7
12,552.6 13,385.4 More than one year and not more
than five years 0.2 1.3
The borrowings (excluding finance lease liabilities) bear an
2.4 22.0
effective annual interest rate of 1.9% to 5.0% (2013: 1.4%
Future finance charges (0.1) (3.2)
to 6.7%) per annum.
Present value 2.3 18.8
The carrying amounts of the borrowings are denominated in
the following currencies: Finance lease liabilities are effectively secured as the
rights to the leased assets, which will revert to the lessor
in the event of default. The finance lease liabilities have
Group
an effective interest rate of 1.9% to 16.5% (2013:
2014 2013
1.9% to 16.5%) per annum.
SGD 4,572.4 5,769.6
(c) Fair values of the borrowings as at 31 December 2014
USD 3,572.2 3,220.0
are as follows:
RM 3,595.3 3,595.0
GBP 812.7 800.8
Group
12,552.6 13,385.4 2014 2013
(a) The maturity profile and exposure of borrowings of the Current 1,837.7 2,561.3
Group is as follows: Non-current 10,760.8 11,375.5
Floating Fixed Fair values of the borrowings have been estimated from
interest interest the perspective of market participants that hold similar
rate rate Total borrowings at the reporting date and are within Level 2
of the fair value hierarchy.
As at 31 December 2014:
Less than one year 1,661.8 175.9 1,837.7
More than one year
and less than two
years 1,760.9 0.1 1,761.0
More than two years
and less than five
years 4,144.3 1,599.8 5,744.1
More than five years 1,214.1 1,995.7 3,209.8
8,781.1 3,771.5 12,552.6

31 December 2014
38. BORROWINGS (contd)
(d) Fixed Rate Notes
On 22 September 2004 (Issue Date), the Company through its wholly owned subsidiary, Prime Holdings (Labuan)
Limited, issued USD300.0 million Guaranteed Notes (Notes) of up to 10 years. The Notes which are guaranteed by
the Company, were offered outside the United States in accordance with Regulation S. The Notes were only offered for
subscription or sale outside Malaysia (except the Federal Territory of Labuan) to non-residents of Malaysia. The purpose of
the issue is to fund the Groups future overseas investments.
The main features of the Notes are as follows:
(i) the Notes bear coupon interest from Issue Date at 5.375% per annum payable in arrears on 22 March and 22
September each year commencing on 22 March 2005; and
(ii) unless previously purchased and cancelled, the Notes will be redeemed on 22 September 2014 at their principal
amount.
On 22 September 2014, Prime Holdings (Labuan) Limited had fully redeemed the Notes.
(e) On 9 November 2009, the Company through its wholly owned subsidiary, GB Services Berhad (GBS), had successfully
issued RM1.45 billion nominal amount of 10-year Medium Term Notes (MTNs) pursuant to a RM1.6 billion nominal
value MTNs programme. The issue was priced at 5.30% per annum, payable semi-annually and guaranteed by the Company.
On 10 May 2010, GBS subsequently issued the remaining RM0.15 billion nominal amount of MTNs. The proceeds from
issuance of the MTNs were on-lent to the Company and/or its subsidiaries for capital expenditure, investment, refinancing,
working capital requirements and/or other general corporate purposes of the Group. The entire nominal amount of the
MTNs shall be repaid by 8 November 2019 (the Maturity Date) provided that the entire principal amount or any portion
thereof, and accrued and unpaid interest thereon shall be immediately due and payable upon the earlier of (i) the Maturity
Date; (ii) request(s) from GBS for early repayment; or (iii) acceleration of the loan. In the event of default, the Trustee of
the MTNs may at its sole discretion, and shall if so directed by the MTNs holders by Extraordinary Resolution, declare by
notice in writing to GBS that an event of default has occurred and notwithstanding the Maturity Date, the nominal value of
all outstanding MTNs and unpaid interest thereon shall become immediately due and payable.
(f) On 8 June 2012, the Company through its wholly owned subsidiary, Genting Capital Berhad, issued RM0.5 billion nominal
amount of 10-year MTNs and RM1.5 billion nominal amount of 15-year MTNs pursuant to a RM2.0 billion nominal value
MTNs programme. The issue was at coupon rates of 4.42% per annum and 4.86% per annum, respectively, payable semi-
annually and guaranteed by the Company. The proceeds from issuance of the MTNs were on-lent to the Company and/or
its subsidiaries for operating activities, capital expenditure, investment, refinancing, working capital requirements, general
funding requirements and/or other general corporate purpose of the Group.
Details of assets pledged as securities for the borrowings are disclosed in Notes 16, 20, 21 and 32.
39. PROVISIONS
Group Company
2014 2013 2014 2013
Provision for retirement gratuities (see (a) below) 267.1 237.2 78.3 68.6
Provision for contingent losses (see (b) below) - - - 22.5
Asset retirement obligations (see (c) below) 114.4 - - -
Other provision 43.5 41.5 - -
425.0 278.7 78.3 91.1
Less: Provision for retirement gratuities shown
as current liabilities (see (a) below) (15.5) (13.6) - -
409.5 265.1 78.3 91.1

31 December 2014
39. PROVISIONS (contd)

Group Company
2014 2013 2014 2013
(a) Provision for Retirement Gratuities
Beginning of the financial year 237.2 203.7 68.6 57.0
Charge for the financial year 35.8 41.6 9.8 12.1
Write-back of provision (0.5) (0.6) - -
Payments during the financial year (5.6) (7.5) (0.1) (0.5)
Foreign exchange differences 0.2 - - -
End of the financial year 267.1 237.2 78.3 68.6
Current (see Note 41) 15.5 13.6 - -
Non-current 251.6 223.6 78.3 68.6
267.1 237.2 78.3 68.6
(b) Provision for Contingent Losses

Company
2014 2013
Beginning of the financial year 22.5 24.4
Reversal for the financial year (22.5) (1.9)
End of the financial year - 22.5
The contingent losses arise from guarantees issued to financial institutions on borrowings extended to a wholly owned
subsidiary for the purpose of raising funding for the Groups investments. During the current financial year, the subsidiary
had fully settled the outstanding borrowing (see Note 38(d)).
(c) Asset retirement obligations

Asset retirement obligations consist primarily of estimated cost of dismantlement, removal, site reclamation and similar
activities associated with oil and gas assets.
40. OTHER NON-CURRENT LIABILITIES
Group
2014 2013
Advance membership fees 13.7 17.0

Accruals and other payables 28.3 27.4
42.0 44.4
The advance membership fees relate to fees received on sale of timeshare units by an indirect subsidiary offering a timeshare
ownership scheme. These fees are recognised as income over the next twenty four years from commencement of membership.
41. TRADE AND OTHER PAYABLES
Group Company
2014 2013 2014 2013
Trade payables 670.5 533.6 - -

Accruals 2,061.7 1,899.9 35.2 33.4
Retirement gratuities (see Note 39(a)) 15.5 13.6 - -
Deposits 24.9 38.7 - -
Provision for onerous lease 14.8 6.7 - -
Accrued capital expenditure 348.1 385.9 - -
Deferred income 198.4 305.2 - -
Other payables 1,013.4 915.2 - 0.2
4,347.3 4,098.8 35.2 33.6
The carrying amounts of the Groups and the Companys trade and other payables approximate their fair values.
31 December 2014
42. DERIVATIVE FINANCIAL INSTRUMENTS

2014 2013
Group Assets Liabilities Assets Liabilities
Interest Rate Swap - designated as hedge (see Note (a) below) - (166.8) 2.0 -
Interest Rate Swap - not designated as hedge (see Note (b) below) - (7.3) - (20.7)
Cross Currency Swap - not designated as hedge (see Note (c) below) 94.3 (1.3) 109.5 (8.1)
Cross Currency Swap - designated as hedge (see Note (d) below) - (32.6) - -
Interest Rate Capped Libor-In-Arrears Swap
- cash flow hedge (see Note (e) below) - (1.7) - (3.1)
Forward Foreign Currency Exchange Contracts
- cash flow hedge (see Note (f) below) 3.8 (0.1) - (2.5)
Forward Foreign Currency Exchange Contracts (see Note (g) below) - - 1.0 -
Compound financial instruments (see Note 27) - (652.2) - (23.7)
Call Option to purchase shares in an investment (see Note (h) below) - - 9.0 -
Warrants to purchase shares in an investment (see Note (i) below) 3.5 - - -
Total derivative financial instruments 101.6 (862.0) 121.5 (58.1)
Current 2.5 (658.2) 9.4 (35.5)
Non-current 99.1 (203.8) 112.1 (22.6)
101.6 (862.0) 121.5 (58.1)
The Groups derivative financial instruments relate to the following:
(a) Interest Rate Swaps (IRS) designated as hedge
The GENM Group has entered into IRS to hedge the UK Groups exposure to interest rate risk on its borrowings in UK.
This contract entitles the GENM Group to receive interest at floating rates on notional principal amounts and oblige the
UK Group to pay interest at fixed rates on the same notional principal amounts, thus allowing the GENM Group to raise
borrowings at floating rates and swap them into fixed rates. The total notional principal amount of this outstanding IRS
contract at 31 December 2014 was approximately RM359.3 million (2013: RM177.2 million). As at 31 December 2014,
the estimated fair value of this IRS contract was approximately RM5.3 million which was unfavourable to the Group (2013:
RM1.5 million which was favourable to the Group).
The GENP Group has also entered into IRS to hedge the exposure to interest rate risk on its USD borrowing. The total
notional principal amount of this outstanding IRS contract at 31 December 2014 was approximately RM69.5 million
(2013: RM65.7 million). As at 31 December 2014, the estimated fair value of this IRS contract was approximately RM0.2
million which was unfavourable to the Group (2013: RM0.5 million which was favourable to the Group).
The Group had also adopted hedge accounting on 1 April 2014 (hedge inception date) for the IRS contracts to hedge the
Groups exposure to interest rate risk on its borrowing in Indonesia as disclosed in Note 42(b).
The total notional principal amount of these IRS contracts at 31 December 2014 was approximately RM1,791.1 million.
As at 31 December 2014, the estimated fair value of these IRS contracts was approximately RM161.3 million, which was
unfavourable to the Group.
These IRS contracts are accounted for using the hedge accounting method. The changes of fair value of these IRS
contracts are included as hedging reserve in equity and continuously released to the income statement until the repayment
of the bank borrowings or maturity of IRS whichever is earlier.

31 December 2014
42. DERIVATIVE FINANCIAL INSTRUMENTS (contd) the exposure of its borrowings to interest rate risk and
foreign exchange risk in India and Singapore respectively.
(b) Interest Rate Swaps (IRS) not designated as hedge
The Group subsequently adopted hedge accounting
The GENS Group has entered into IRS to hedge the GENS on 1 April 2014 (hedge inception date) for the Cross
Groups exposure to interest rate risk on its borrowings Currency Swap contracts to pay SGD in exchange of
in Singapore. These contracts entitle the GENS Group USD against the exposure of its borrowings to interest
to receive interest at floating rates on notional principal rate risk and foreign exchange risk in Singapore. The
amounts and oblige the GENS Group to pay interest at Group formally documents the relationship between the
fixed rates on the same notional principal amounts, thus hedging instrument and hedged item, including the risk
allowing the Group to raise borrowings at floating rates management objective and strategy in undertaking the
and swap them into fixed rate. These IRS have expired hedge transaction and the hedged risk, together with the
upon maturity in June 2014. As at 31 December 2013, methods that will be used to assess the effectiveness of
the total notional principal amount of these outstanding the hedging relationship. All these Cross Currency Swap
IRS contracts was approximately RM1,296.5 million contracts qualify as cash flow hedges (see Note 42(d)).
and the estimated fair value of these IRS contracts was Cross currency swap contracts to pay INR in exchange
approximately RM4.6 million, which was unfavourable of USD against the exposure of its borrowings to interest
to the Group. rate risk and foreign exchange risk in India remain not
designated as hedges.
The Group has also entered into IRS contracts to
hedge the Groups exposure to interest rate risk on its The total notional principal amount of these outstanding
borrowings in India and Indonesia. These contracts Cross Currency Swap contracts at 31 December 2014
entitle the Group to receive interest at floating rates on was approximately RM292.2 million (2013: RM496.2
notional principal amounts and oblige the Group to pay million). As at 31 December 2014, the estimated
interest at fixed rates on the same notional principal fair value of these Cross Currency Swap contracts
amounts, thus allowing the Group to raise borrowings at was approximately RM93.0 million (2013: RM101.4
floating rates and swap them into fixed rates. million), which was favourable to the Group.
The Group subsequently adopted hedge accounting on 1 This Cross Currency Swap contract is not designated
April 2014 (hedge inception date) for the IRS contracts as cash flow or fair value hedges. The changes in the
to hedge the Groups exposure to interest rate risk on its fair value of these Cross Currency Swap contracts are
borrowing in Indonesia. The Group formally documents recognised as other income or other expense in the
the relationship between the hedging instrument and income statement.
hedged item, including the risk management objective
and strategy in undertaking the hedge transaction and (d) Cross Currency Swap designated as cash flow hedge
the hedged risk, together with the methods that will
be used to assess the effectiveness of the hedging These relate to Cross Currency Swap contracts to pay
relationship. All these IRS contracts qualify as cash flow SGD in exchange for USD against the exposure of its
hedges (see Note 42(a)). IRS contracts to hedge the borrowings to interest rate risk and foreign exchange risk
Groups exposure to interest rate risk on its borrowings in Singapore, which adopted the hedge accounting on 1
in India remain not designated as hedges. April 2014 as disclosed in Note 42(c).
As at 31 December 2014, the total notional principal The total notional principal amount of these outstanding
amount of these outstanding IRS contracts was Cross Currency Swap contracts at 31 December 2014
approximately RM139.1 million (2013: RM880.4 was approximately RM158.5 million. As at 31 December
million) and the estimated fair value of these IRS 2014, the estimated fair value of these Cross Currency
contracts was approximately RM7.3 million (2013: Swap contracts was approximately RM32.6 million,
RM16.1 million), which was unfavourable to the Group. which was unfavourable to the Group.
The changes in the fair value of these IRS contracts These Cross Currency Swap contracts are accounted for
are recognised as other income or other expense in the using the hedge accounting method. The changes of
income statement. fair value of these Cross Currency Swap contracts are
included as hedging reserve in equity and continuously
(c) Cross Currency Swap not designated as hedge released to the income statement until the repayment of
the bank borrowings or maturity of Cross Currency Swap
The Group has entered into a Cross Currency Swap contracts whichever is earlier.
contract to pay INR and SGD in exchange of USD for
both principal and interest payments to hedge against

31 December 2014
42. DERIVATIVE FINANCIAL INSTRUMENTS (contd) foreign currency exchange risk on its SGD term loan. The
Group had adopted hedge accounting on 1 April 2014
(e) Interest Rate Capped Libor-In-Arrears Swap (IRCLIA) (hedge inception date) for these USD forward contracts.
cash flow hedge The Group formally documents the relationship between
the hedging instrument and hedged item, including the
The total notional principal amount of the outstanding risk management objective and strategy in undertaking
IRCLIA contracts at 31 December 2014 was the hedge transaction and the hedged risk, together with
approximately RM208.6 million (2013: RM197.1 the methods that will be used to assess the effectiveness
million). As at 31 December 2014, the estimated fair of the hedging relationship (see Note 42(f)).
value of these IRCLIA contracts was approximately
RM1.7 million (2013: RM3.1 million), which was As at 31 December 2013, the total notional principal
unfavourable to the Group. amount of these forward foreign currency contracts
was approximately RM97.5 million and the estimated
These IRCLIA contracts are accounted for using the fair value of these forward foreign currency exchange
hedge accounting method. The changes of fair value of contracts was RM1.0 million, which was favourable to
these IRCLIA are included as hedging reserves in equity the Group.
and are recognised in the income statement as the
underlying hedged items are recognised. (h) Call Option to purchase shares in an investment

(f) Forward Foreign Currency Exchange cash flow hedge The Group entered into a Call Option Agreement with
a third party granting the Group the right that requires
The GENP Group entered into USD forward foreign the third party to issue up to 10,750,000 new ordinary
currency exchange contracts to manage the exposure shares at a consideration of SGD1.20 per share.
to foreign currency exchange risk in relation to its
operations in Indonesia. The fair value of the Call Option is negligible at inception
and is subsequently carried at its fair value with fair
The total notional principal amount of the outstanding value changes recognised in profit or loss. As at 31
USD forward foreign currency exchange contracts as at December 2013, the estimated fair value of the option
31 December 2014 was approximately RM24.6 million was RM9.0 million which was favourable to the Group.
(2013: RM14.8 million). As at 31 December 2014, the The call option was subsequently exercised on its expiry
estimated fair value of these forward foreign currency date 17 June 2014 at the consideration of SGD1.20 per
exchange contracts was RM0.1 million (2013: RM2.5 share.
million) which was unfavourable to the Group.
(i) Warrants to purchase shares in an investment
The Group had also adopted hedge accounting on 1
April 2014 (hedge inception date) for the USD forward The Group purchased the warrants attached to the
contracts to hedge the Groups exposure to foreign subscription of preference shares in an investment that
currency exchange risk on its SGD term loan as disclosed give the right to the Group to purchase from a third party
in Note 42(g). up to 103,114 preference shares at the lower of (i)
USD23.76 per share or (ii) 20% discount on the next
The total notional principal amount of these forward round financing pricing. The warrants are exercisable
contracts at 31 December 2014 was approximately any time from 12 August 2014 to 12 August 2022.
RM65.1 million. As at 31 December 2014, the estimated
fair value of these forward contracts was approximately The warrants are initially recognised at fair value and are
RM3.8 million, which was favourable to the Group. subsequently carried at fair value through profit or loss.
The fair value changes are recognised in profit or loss.
These forward foreign currency exchange contracts are As at 31 December 2014, the estimated fair value of the
accounted for using the hedge accounting method. The option was RM3.5 million which was favourable to the
changes of fair value of these forward foreign currency Group.
exchange contracts are included as hedging reserves in
equity and are recognised in the income statement as The fair values of the above instruments have been estimated
the underlying hedged items are recognised. using the published market prices or quotes from reputable
financial institutions or valuation techniques supported
(g) Forward Foreign Currency Exchange designated as by observable market data. The Group had no significant
hedge with effect from 1 April 2014 concentrations of credit risk as at 31 December 2014.
The Group entered into USD forward foreign currency

exchange contracts to hedge the Groups exposure to

31 December 2014
43. ON GOING LITIGATION The Defendants had on 17 April 2012 filed a Notice of Appeal
to the Court of Appeal against the High Court Decision. The
GENP and Genting Tanjung Bahagia Sdn Bhd (GTBSB), a Court of Appeal heard the appeal on 8 May 2013. On 9
wholly owned subsidiary of GENP, were named as the Second May 2013, the Court of Appeal dismissed the appeal. The
and Third Defendants respectively (the Defendants) in a Defendants motion for leave to appeal to the Federal Court
legal suit filed in the High Court of Sabah and Sarawak at was dismissed with costs on 25 February 2014 and the
Kota Kinabalu (High Court) under Suit No. K22-245- Federal Court directed that the trial at the High Court should
2002 (the Suit) dated 11 October 2002. The Suit was continue.
instituted by certain natives (the Plaintiffs) claiming
Native Customary Rights over the agricultural land or part On an application by the Plaintiffs, the High Court allowed
thereof held under title number CL095330724 measuring the Plaintiffs application to amend the Statement of Claim
approximately 8,830 hectares situated at Sungai Tongod, and for joiner of three additional parties as the Sixth, Seventh
District of Kinabatangan, Sandakan, Sabah which was and Eight Defendants, namely the Assistant Collector of
acquired by GTBSB from Hap Seng Consolidated Berhad. Land Revenue, Tongod, the Registrar of Titles and Assistant
Collector of Land Revenues, Kota Kinabatangan.
On 11 February 2003, the Defendants filed an application
to strike out the Plaintiffs Suit (Application to Strike Out) The High Court had proceeded with trial since 26 November
and on 13 June 2003 the Application to Strike Out was 2012 and the trial is still ongoing.
dismissed with cost. The Defendants appealed against the
said decision (Appeal for Application to Strike Out). The solicitors engaged by the GENP Group maintained
their opinion that the Plaintiffs action is misconceived and
During the High Courts hearing of the Suit for an interlocutory unsustainable.
injunction on 5 July 2004, the Defendants had raised a
preliminary objection that the High Court has no original There have been no changes to the status of the aforesaid
jurisdiction to hear the Suit and that this Suit will lead to litigation as at 26 February 2015.
multiplicity of actions as the Plaintiffs had already made an
application to the Assistant Collector of Land Revenue for 44. CONTINGENCY
similar claims. On 20 June 2008, the High Court upheld the
preliminary objection with cost awarded to the Defendants Contingent Liability GENM
(PO Decision) and struck out the Plaintiffs suit.
In the previous financial year ended 31 December 2013,
On 7 July 2008, the Plaintiffs filed a Notice of Appeal to the a legal claim of RM41.3 million has been made against a
Court of Appeal against PO Decision. On 9 June 2011, the subsidiary of the GENM Group. The GENM Group was of
Court of Appeal upheld the PO Decision of the High Court the view that the obligation to pay was not probable based
and dismissed the Plaintiffs appeal against the PO Decision on legal advice received, and this claim was disclosed as a
(Court of Appeal Ruling). contingent liability in accordance with FRS 137 Provisions,
Contingent Liabilities and Contingent Assets.
The Plaintiffs had filed a motion for leave to appeal before the
Federal Court against the Court of Appeals Ruling (Federal In October 2014, the court ruled in favour of the GENM
Court Appeal) and the Federal Court granted Plaintiff leave Group and the GENM Group has no obligation to pay. Based
for the appeal on 25 July 2011. The Federal Court had on on legal advice received, the GENM Group is of the view
24 November 2011 heard and allowed the Federal Court that the obligation to pay is remote and therefore is not a
Appeal. The Federal Court further ordered that the matter contingent liability as at 31 December 2014.
be remitted to the High Court to hear the Appeal for the
Application to Strike Out. The High Court had on 13 March Other than the above development, there were no other
2012 dismissed the Appeal for Application to Strike Out contingent liabilities or contingent assets since the financial
with cost (High Court Decision) and ordered the parties to year ended 31 December 2014.
proceed with trial.

31 December 2014
45. COMMITMENTS
(a) Capital Commitments
Group Company
2014 2013 2014 2013
Authorised capital expenditure not provided for in the

financial statements:
- contracted 5,437.6 4,968.1 - -
- not contracted 8,604.0 8,667.0 - -
14,041.6 13,635.1 - -
(i) Group
- Property, plant and equipment 8,545.8 8,254.0 - -
- Power concession assets
(intangible assets and other non-current assets) 2,097.3 2,684.1 - -
- Rights of use of oil and gas assets 1,803.4 1,305.6 - -
- Investments 991.0 980.6 - -
- Plantation development 572.4 310.8 - -
- Leasehold land use rights 15.5 47.9 - -
- Intellectual property development 11.0 0.5 - -
- Investment properties 4.2 9.7 - -
- Intangible assets 0.5 - - -
- Available-for-sale financial assets - 33.4 - -
14,041.1 13,626.6 - -
(ii) Share of capital commitments in joint ventures

- Investment properties 0.5 8.0 - -
- Property, plant and equipment - 0.5 - -
0.5 8.5 - -
14,041.6 13,635.1 - -
(b) Operating Lease Commitments
(i) The Group as lessee

The future minimum lease payments under non-cancellable operating leases are payable as follows:
Group
2014 2013
Not later than one year 79.4 74.1

Later than one year but not later than five years 237.4 246.5
Later than five years 336.1 328.6
652.9 649.2
The operating lease commitments mainly relate to leases of offices, land and buildings and equipment under non-
cancellable operating lease agreement. The leases have varying terms, escalation clauses and renewal rights.
(ii) The Group as lessor

The future minimum lease receivables under non-cancellable operating lease are as follows:
Group
2014 2013
Not later than one year 51.3 45.3
Later than one year but not later than five years 50.8 65.2
Later than five years 0.5 0.5
102.6 111.0
The Group leases out retail space to non-related parties under non-cancellable operating leases. The leases have varying
terms, escalation clauses and renewal rights.
31 December 2014
46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR
(a) On 7 February 2014, GENS Group entered into a conditional shareholders agreement (SHA) with Landing International
Development Limited (LIDL) to subscribe for 8,250,000 new ordinary shares in Landing Jeju Development Co., Ltd
(LJDC) and to provide a shareholders loan to LJDC, amounting to SGD195.0 million. LIDL, an investment holding
company listed on the Hong Kong Stock Exchange, has established LJDC to own, develop, manage and operate an
integrated resort in Jeju, South Korea. The GENS Group has also entered into an operator agreement with LJDC on the
same date to provide services to LJDC for its gaming business. Completion of the transaction is conditional upon fulfilment
of certain conditions precedent set out in the SHA. On 27 March 2014, GENS announced that on 26 March 2014, all the
conditions precedent under the SHA have been completed and LJDC is now recognised as an associate of GENS.

In addition to the above investment, the GENS Group has also entered into a conditional subscription agreement on
the same date to acquire new shares in LIDL for a total purchase consideration of approximately SGD39.8 million. This
represents approximately 5% of the enlarged share capital in LIDL. On 1 April 2014, GENS further announced that on
28 March 2014, all the conditions precedent under the subscription agreement have been satisfied and the subscription
agreement was completed on 1 April 2014.
(b) On 13 November 2013, Fujian Electric (Hong Kong) LDC (FEHK) signed a Sale and Purchase Agreement for the disposal
of a 51% equity interest in Fujian Pacific Electric Company Limited (FPEC), a wholly owned subsidiary of FEHK to
SDIC Power Holdings Co., Ltd. FPEC owns and operates the 724MW coal fired Meizhou Wan power plant in Putian, Fujian
Province, China.

On 10 July 2014, the Company announced the completion of the disposal for a total cash consideration of RMB694
million and FPEC ceased to be an indirect subsidiary of the Company on the same date. Subsequent to the disposal, the
financial results of the Meizhou Wan power plant have been accounted for as a joint venture from the date of completion.
(c) On 4 June 2014, Genting CDX Singapore Pte Ltd (Genting CDX), which is a 95% indirect subsidiary of the Company,
signed a Sale and Purchase Agreement with Energy Development Corporation (China) Inc. (EDC) to acquire EDCs
57% participating interest in the Chengdaoxi Block (CDX) located in the shallow waters of Bohai Bay, China (the
Transaction). Genting CDX took control of this participating interest in CDX, which is an oil producing field that is jointly
operated by Genting CDX and the China Petrochemical Corporation, with effect from 1 July 2014. The total purchase price
of the Transaction was USD186.1 million plus an additional USD10.0 million contribution towards future development
cost in CDX.
(d) On 1 April 2014, GENP announced that the proposed reorganisation of joint venture for oil palm cultivation in Kabupaten
Ketapang, Provinsi Kalimantan Barat, Republic of Indonesia had been completed and accordingly, Borneo Palma Mulia Pte
Ltd and Palma Citra Investama Pte Ltd (PCitra) have become 73.685% owned subsidiaries of GENP while PT Permata
Sawit Mandiri, a 95% owned subsidiary of PCitra, has become a 70% owned subsidiary of GENP.
(e) On 18 July 2014, Newquest Resources Pte Ltd (NRPL), an indirect wholly owned subsidiary of the Company has on the
same date, completed the acquisition of 2 ordinary shares of RM1.00 each representing the entire issued and paid-up
share capital in Lion Agriculture (Indonesia) Sdn Bhd (formerly known as LFIB Plantations Sdn Bhd) (LAI) from Akurjaya
Sdn Bhd (Akurjaya) for a cash consideration of RM2.00 and a sum of USD6.9 million for taking over the existing
shareholder loans extended to LAI (Acquisition).

LAI has also on 18 July 2014, completed the acquisition of 95% equity interest comprising 17,100 ordinary shares of
Indonesia Rp. 1,000,000 each in PT Varita Majutama (PTVM), an Indonesian company which has interest in approximately
52,000 hectares of plantation land in West Papua, Indonesia for a cash consideration of USD1.9 million and a sum of
USD52.7 million for taking over the existing shareholder loans extended to PTVM. Arising from the Acquisition, LAI and
PTVM have become indirect subsidiaries of the Company.
(f) On 8 August 2014, GENP announced the completion of GENPs proposed share sale to dispose 72 million fully paid up
ordinary shares of RM1.00 each representing 25% of the entire share capital of Genting Integrated Biorefinery Sdn Bhd
(GIB) to Elevance Renewable Sciences Singapore Pte Ltd (ERS Singapore), a wholly owned subsidiary of Elevance
Renewable Sciences, Inc (Elevance) for a cash consideration of RM72 million. Hence, GENPs shareholding in GIB has
reduced from 100% to 75%.

31 December 2014
46. SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (contd)
(g) On 11 July 2014, GENP had entered into a share sale with ERS Singapore. On the same date, GENP had entered into
a Master Agreement for collaboration to produce high value palm oil derivatives such as oleofins, specialty chemicals
and saturated methyl esters. The Master Agreement will involve, inter-alia, the following agreements to be executed to
consummate the said collaboration:

(i) a Licence and Catalyst Supply Agreement and a Project Design and Consultancy Agreement between GIB and Elevance
which were both executed on 11 July 2014 whereby:

(a) Elevance shall grant GIB a fee-bearing, irrevocable, non-transferable, non-exclusive licence under its patent rights
for its metathesis technology, and utilising the catalysts to produce and sell the high value palm oil derivatives:
and

(b) Elevance shall provide GIB its knowledge transfer, technical and consulting services in connection with the
engineering, design and construction of the Metathesis Plant referred to below,

for a total cash consideration of USD28.05 million (approximately RM89.48 million) payable by GIB to Elevance; and

(ii) the ancillary agreements to be executed by the relevant parties to facilitate the operations of the Metathesis Plant
covering offtake, marketing and the provision of management services as well as to set out the rights and obligations
of the shareholders of GIB.
The Metathesis Plant refers to GIBs existing 200,000 metric tonnes biodiesel plant located in the Palm Oil Industrial
Cluster, Lahad Datu, Sabah which will be transformed to produce high value palm oil derivatives using Elevances metathesis
technology. Barring unforeseen circumstances, the Metathesis Plant is expected to commence operation and production of
these high value palm oil derivatives by year 2017.
The share sale was completed on 8 August 2014.
47. SIGNIFICANT SUBSEQUENT EVENTS
(a) On 16 January 2015, the Company announced that DNA Electronics Limited (DNAe), an indirect 82.1% owned subsidiary
of the Company had on 15 January 2015 completed the acquisition of the entire issued share capital of NanoMR, Inc.
(NanoMR) for a total cash consideration of approximately USD24.0 million (Acquisition) by way of merger under the
laws of Delaware, United States of America. NanoMR is a development-stage diagnostics company based in New Mexico,
United States of America.

On completion of the Acquisition, DNA Electronics US, Inc. (DNAE US), a wholly owned subsidiary of DNAe which was
incorporated in the State of Delaware, United States of America on 2 January 2015, was merged with and into NanoMR
(Merger), with NanoMR as the surviving entity and wholly owned subsidiary of DNAe. Consequently, DNAE US ceased
to be an indirect subsidiary of the Company and NanoMR became an indirect subsidiary of the Company pursuant to the
Acquisition and Merger.

Pursuant to a rights issue by DNAe to fund the Acquisition, Edith Grove Limited, an indirect wholly owned subsidiary
of the Company, had on 9 January 2015 subscribed for additional new ordinary shares in DNAe, thereby increasing its
shareholding in DNAe from 63.8% as at 31 December 2014 to 82.1%.

(b) On 11 September 2014, BB Entertainment Limited (BBEL), an indirect 70% owned subsidiary of GENM, entered into
an agreement to acquire land from RAV Bahamas Limited, a shareholder of BBEL with a 30% interest currently, for a
consideration of USD24.6 million (equivalent to approximately RM85.5 million) (Acquisition).

On 12 February 2015, following the fulfilment of all conditions precedent, the Acquisition is closed pursuant to the terms
of the agreement.
(c) On 26 February 2015, GENM announced the establishment of an employee share grant scheme for eligible employees
and executive directors of GENM and its subsidiaries, excluding subsidiaries which are dormant or incorporated outside
Malaysia (GENM Group) (Eligible Employees). The scheme serves to attract, retain, motivate and reward Eligible
Employees for their contribution to the GENM Group through the award of GENM Shares without any consideration payable
by Eligible Employees, subject to Eligible Employees fulfilling certain vesting conditions.

31 December 2014
48. SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES
In the normal course of business, the Group and the Company undertake on agreed terms and prices, transactions with its
related companies and other related parties.
In addition to related party disclosures mentioned elsewhere in the financial statements, set out below are other significant
related party transactions and balances. The related party transactions listed below were carried out on terms and conditions
negotiated and agreed between the parties.
Group Company
2014 2013 2014 2013
(a) Transactions with subsidiaries
(i) Licensing fees from the subsidiaries to the Company for the use of name
and accompanying logo of Genting and Awana owned by the Company. - - 191.9 198.0
(ii) Management fees from Genting Hotel & Resorts Management Sdn Bhd
(GHRM), a wholly owned subsidiary of the Company, to the Company for
the provision of the necessary resort management services to enable GHRM
to perform its various obligations under the Resort Management Agreement
with GENM. - - 408.0 430.8
(iii) Interest income earned by the Company from its subsidiaries on the interest
bearing portion of the amount due from subsidiaries. - - 30.8 41.4
(iv) Finance cost charged by subsidiaries to the Company on the interest
bearing portion of the amount due to subsidiaries. - - 216.9 228.8
(v) Provision of information technology consultancy, development,
implementation, support and maintenance service, other management
services and rental of information technology equipment by subsidiaries to
the Company. - - 4.1 4.0
(vi) Rental charges for office space and related services by a subsidiary of
GENM to the Company. - - 2.7 2.4
(vii) Provision of management and/or support services by the Company to its
subsidiaries, associates and joint ventures. - - 17.4 14.6
(b) Transactions with associates and joint ventures
(i) Licensing fee for the use of the name Genting charged by wholly owned
subsidiaries of the Company to Genting Simon Sdn Bhd, a joint venture of
the GENP Group. 0.5 0.3 - -
(ii) Provision of management services by GaiaAgri Services Limited, an associate
of GENP, to AsianIndo Holdings Pte Ltd, a wholly owned subsidiary of GENP. - 1.9 - -
(iii) Provision of management services by Genting Awanpura Sdn Bhd, a wholly
owned subsidiary of GENP, to Genting Simon Sdn Bhd, a joint venture of
GENP. 0.4 0.6 - -
(iv) Provision of goods and services by DCP (Sentosa) Pte Ltd, a joint venture
of GENS to GENS Group. 78.0 76.3 - -
(v) Shareholders loan provided by GENS Group to its associate. 253.1 - - -
(vi) Interest income earned by GENS Group from its associate. 9.7 - - -
(vii) Provision of professional and marketing services by GENM Group to RWI
Group. 22.7 14.1 - -
(viii)Licensing fee for the use of Resorts World and Genting intellectual
property in the United States of America and the Bahamas charged by RWI
to GENM Group. 55.0 50.3 - -
(c) Transactions with other related parties
(i) Rental of premises and provision of connected services by GENM to Oriregal
Creations Sdn Bhd (Oriregal). Puan Sri Lim (Nee Lee) Kim Hua, mother
of Tan Sri Lim Kok Thay (TSLKT) and grandmother of Mr Lim Keong Hui,
is a director and substantial shareholder of Oriregal. 1.5 1.5 - -

31 December 2014
48. SIGNIFICANT RELATED PARTY TRANSACTIONS AND BALANCES (contd)
Group Company
2014 2013 2014 2013
(c) Transactions with other related parties (contd)
(ii) Letting of premises by Genting Development Sdn Bhd (GDSB) to the
Group. Puan Sri Lim (Nee Lee) Kim Hua, is a director and shareholder of
GDSB. 1.1 0.4 - -
(iii)
Provision of information technology consultancy, development,
implementation, support and maintenance services and other management
services by GENM Group to GENHK Group, a company in which certain
Directors of the Company have interests. 1.0 1.2 - -
(iv) Disposal of 72 million fully paid ordinary shares of RM1.00 each
representing 25% of the entire share capital of GIB, a subsidiary of GENP,
to ERS Singapore where the Company, GENPs immediate and ultimate
holding company, holds 16% equity interest in Elevance, which in turn
holds 100% in ERS Singapore. 72.0 - - -
(v) Provision of a license and design and consultancy services in relation to the
construction and operation of a metathesis plant by Elevance. 39.0 - - -
(vi) Air ticketing services and provision of reservation and booking services
rendered by GENHK to GENS Group and a wholly owned subsidiary of the
Company. 6.4 6.0 - -
(vii) Provision of management and support services by GENM Group to SE Mass
II, LLC, an entity connected with Directors of GENM. 4.7 9.0 - -
(viii) Purchase of an asset by GENM Group from Wider SRL, an entity connected with
Directors of GENM. - 2.5 - -
(ix) Provision of information technology, implementation, support and
maintenance services, hotel accommodation, food and beverage and theme
park charges by GENS Group to GENHK Group. 1.2 - - -
(x) Acquisition of aircraft by GENM Group from GENHK Group. 57.5 - - -
(xi) Provision of management and consultancy service on theme park and resort
development and operations by International Resort Management Services
Pte Ltd (IRMS) to GENM Group, an entity connected with certain
Directors of GENM. 30.0 - - -
(xii) Purchase of an art sculpture by GENM from TSLKT. 7.1 - - -
(xiii) Provision of management services by GENS Group to Ambadell Pty Ltd. 0.3 0.3 - -
(xiv) Leasing of office space by GENS Group to IRMS. 1.0 1.5 - -
(xv) Sales of development properties by GENP Group to an Executive Director
and key management personnel of the Company. - 7.6 - -
(d) Directors and key management personnel

The remuneration of Directors and other key management personnel is as follows:
Fees, salaries and bonuses 121.2 104.4 49.0 45.2
Other short term employee benefits 2.9 0.6 2.4 -
Share-based payments 4.1 4.6 - -
Estimated money value of benefits-in-kind (not charged to the income
statements) 1.7 1.4 0.1 0.2
The outstanding balances as at 31 December 2014 and 2013, arising from sale/purchase of services, and payments made
on behalf/receipts from the subsidiaries, associates and joint ventures are disclosed in Notes 23, 24 and 25. The outstanding
balances arising from other related sales/purchases are not material as at 31 December 2014 and 2013.

31 December 2014
49. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES

Effective
Percentage of Country of
Ownership Incorporation Principal Activities
2014 2013
Direct Subsidiaries
GB Services Berhad 100.0 100.0 Malaysia Issuance of private debt securities
Genting Bio Cellular Sdn Bhd 100.0 - Malaysia Investments
Genting Capital Berhad 100.0 100.0 Malaysia Issuance of private debt securities
Genting Capital Limited 100.0 100.0 Labuan, Malaysia Offshore financing
+ Genting Energy Limited 100.0 100.0 Isle of Man Investment holding
+ Genting Equities (Hong Kong) Limited 100.0 100.0 Hong Kong, SAR Investments
Genting Genomics Limited 100.0 100.0 Isle of Man Investment holding
Genting Hotel & Resorts Management 100.0 100.0 Malaysia Provision of resort management
Sdn Bhd services
+ Genting Intellectual Property Pte Ltd 100.0 100.0 Singapore Investments
Genting Intellectual Property Sdn Bhd 100.0 100.0 Malaysia Licensing of intellectual property
and provision of related services
Genting (Labuan) Limited 100.0 100.0 Labuan, Malaysia Rent-A-Captive Offshore insurance
business
Genting Malaysia Berhad (see Note 23) 49.3 49.3 Malaysia Resort, hotel and gaming operations
Genting Management and Consultancy 100.0 100.0 Malaysia Management services
Services Sdn Bhd
+ Genting Management (Singapore) Pte Ltd 100.0 100.0 Singapore Investments
Genting Oil & Gas Sdn Bhd 100.0 100.0 Malaysia Provision of advisory, technical and
administrative services to oil and
gas companies
+ Genting Overseas Holdings Limited 100.0 100.0 Isle of Man Investment holding
+ Genting Overseas Investments Limited 100.0 100.0 Isle of Man Investments
Genting Plantations Berhad 53.8 54.6 Malaysia Plantation, investment
holding and provision of
management services to its
subsidiaries
Genting Risk Solutions Sdn Bhd 100.0 100.0 Malaysia Provision of risk and insurance
management consultancy
+ Genting Strategic Investments 100.0 100.0 Singapore Investments
(Singapore) Pte Ltd
Genting TauRx Diagnostic Centre Sdn Bhd 80.0 80.0 Malaysia Creation of a service and
technology platform for early
diagnosis and treatment of
Alzheimers Disease and other
neurodegenerative diseases.
+ Logan Rock Limited 100.0 100.0 Isle of Man Investments
Maxitage Sdn Bhd 100.0 100.0 Malaysia Investments
Peak Avenue Limited 100.0 100.0 Isle of Man Investment holding
Phoenix Spectrum Sdn Bhd 100.0 100.0 Malaysia Investments
Prime Offshore (Labuan) Limited 100.0 100.0 Labuan, Malaysia Offshore financing
+ Vista Knowledge Pte Ltd 100.0 100.0 Singapore Investments
Genting Sanyen Newsprint Sdn Bhd 100.0 100.0 Malaysia Dormant
+ Resorts World Bhd (Hong Kong) Limited 100.0 100.0 Hong Kong, SAR Dormant
+ Resorts World (Singapore) Pte Ltd 100.0 100.0 Singapore Dormant
+ Genting Bhd (Hong Kong) Limited 100.0 100.0 Hong Kong, SAR Pre-operating
Genting Digital Sdn Bhd 100.0 100.0 Malaysia Pre-operating
+ Genting Games Pte Ltd 100.0 100.0 Singapore Pre-operating
+ Genting Gaming Solutions Pte Ltd 100.0 100.0 Singapore Pre-operating
Genting Group Sdn Bhd 100.0 100.0 Malaysia Pre-operating
+ Genting Innovation Pte Ltd 100.0 100.0 Singapore Pre-operating
Genting Intellectual Ventures Limited 100.0 100.0 Isle of Man Pre-operating
+ Genting (Singapore) Pte Ltd 100.0 100.0 Singapore Pre-operating
Genting Strategic Holdings Sdn Bhd 100.0 100.0 Malaysia Pre-operating
Genting Strategic Sdn Bhd 100.0 100.0 Malaysia Pre-operating
+ Genting Strategic (Singapore) Pte Ltd 100.0 100.0 Singapore Pre-operating
Prime International Labuan Limited 100.0 - Labuan, Malaysia Pre-operating
+ Resorts World Limited 100.0 100.0 Hong Kong, SAR Pre-operating

31 December 2014
49. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES (contd)
Effective
2014 2013
Direct Subsidiaries (contd)
Sri Highlands Express Sdn Bhd 100.0 100.0 Malaysia Pre-operating
Suasana Duta Sdn Bhd 100.0 - Malaysia Pre-operating
Prime Holdings (Labuan) Limited 100.0 100.0 Labuan, Malaysia In liquidation
(In Members Voluntary Liquidation)
Indirect Subsidiaries
# ABC Biscayne LLC 49.3 49.3 United States of Letting of property
America
# ACGT Intellectual Limited 51.0 51.5 British Virgin Genomics research and
Islands development
ACGT Sdn Bhd 51.0 51.5 Malaysia Genomics research and
development
# Acorn Co., Ltd. 52.5 - Japan Development, management,
marketing and promotion of
integrated resort and leisure
destinations; Real estate and
any related businesses
+ Adriana Limited 52.5 52.0 Isle of Man Sales coordinator for the leisure
and hospitality related business
Alfa Raya Development Sdn Bhd 53.8 54.6 Malaysia Refining and selling of palm oil
products
+ Algona Pte Ltd 52.5 52.0 Singapore Investment holding
Aliran Tunas Sdn Bhd 49.3 49.3 Malaysia Provision of water services at
Genting Highlands
+ Ascend International Holdings Limited 49.3 49.3 Hong Kong, SAR Provision of IT related services
and marketing services; and
investment holding
Ascend Solutions Sdn Bhd 49.3 49.3 Malaysia Provision of IT and consultancy
services
+ Asia Pacific Agri Investment Pte Ltd 34.0 34.5 Singapore Investment holding
+ Asian Palm Oil Pte Ltd 53.8 54.6 Singapore Investment holding
+ AsianIndo Holdings Pte Ltd 53.8 54.6 Singapore Investment holding
+ AsianIndo Palm Oil Pte Ltd 53.8 54.6 Singapore Investment holding
Asiaticom Sdn Bhd 53.8 54.6 Malaysia Oil Palm plantation
Awana Hotels & Resorts Management 100.0 100.0 Malaysia Provision of hotels and resorts
Sdn Bhd management services
Awana Vacation Resorts Development Berhad 49.3 49.3 Malaysia Proprietary time share ownership
scheme
# Azzon Limited 53.8 54.6 Isle of Man Investment holding
# BayCity Co., Ltd. 52.5 - Japan Development, management,
# Bayfront 2011 Development, LLC 49.3 49.3 United States of Property development
America
+ BB Entertainment Ltd 34.5 34.5 Commonwealth of Casino owner and operator
The Bahamas
# BB Investment Holdings Ltd 49.3 49.3 Commonwealth of Investment holding
The Bahamas
Benih Restu Berhad 53.8 54.6 Malaysia Issuance of debt securities under
Sukuk programme
+ Bestlink Global International Limited 52.5 - British Virgin Investment holding
Islands
# Bimini SuperFast Charter Limited 49.3 49.3 Isle of Man Ferry operator
# Bimini SuperFast Limited 49.3 49.3 Isle of Man Owner of sea vessels
# Bimini SuperFast Operations LLC 49.3 49.3 United States of Provision of support operations for
America ferry service
+ Blackford Limited 52.5 - Hong Kong Investment holding
# BlueBell Co., Ltd. 52.5 - Japan Development, management,

31 December 2014
Effective
2014 2013
Indirect Subsidiaries (contd)
+ Blue Shell International Limited 52.5 52.0 British Virgin Provision of sales and
Islands marketing services
+ Borneo Palma Mulia Pte Ltd 39.6 - Singapore Investment holding
+ Bradden Pte Ltd 52.5 52.0 Singapore Investment holding
Bromet Limited 49.3 49.3 Isle of Man Investment holding
+ Calidone Limited 52.5 52.0 Isle of Man Investment holding
+ Callisto Business Limited 52.5 - British Virgin Investment holding
Islands
Chelsea Court Limited 49.3 49.3 Isle of Man Investment holding
# Coastal Nanjing Power Ltd 100.0 100.0 Cayman Islands Investment holding
# Coastal Wuxi Power Ltd 100.0 100.0 Cayman Islands Investment holding
+ Coastbright Limited 49.3 49.3 United Kingdom Casino owner and operator
# Degan Limited 51.0 51.5 Isle of Man Investment holding
# Digital Tree LLC 49.3 49.3 United States of Collection of royalties
America
# Digital Tree (USA) Inc 49.3 49.3 United States of Investment holding
America
* DNA Electronics Limited 63.8 63.9 United Kingdom Research & development on
technologies for genetic analysis
and sequencing
Dragasac Limited 100.0 100.0 Isle of Man Investments
+ Dynamic Sales Investments Limited 52.5 52.0 British Virgin Investment holding
Islands
Eastern Wonder Sdn Bhd 49.3 49.3 Malaysia Support services
Edith Grove Limited 100.0 100.0 Isle of Man Investment holding
Equarius Resort Sdn Bhd 52.5 52.0 Malaysia Hotel, resort and leisure related
activities
E-Genting Holdings Sdn Bhd 49.3 49.3 Malaysia Provision of management
services, IT related services and
investment holding
E-Genting Sdn Bhd 49.3 49.3 Malaysia Research in software
development, provision of IT
and consultancy services
First World Hotels & Resorts Sdn Bhd 49.3 49.3 Malaysia Hotel business
+ Fitzroy Limited 52.5 - Hong Kong Investment holding
# Fujian Electric (Hong Kong) LDC 100.0 100.0 Cayman Islands Investment holding
# GBD Holdings Ltd 53.8 54.6 Cayman Islands Investment holding
Genasa Sdn Bhd 49.3 49.3 Malaysia Property development, sale and
letting of apartment units
Genmas Sdn Bhd 49.3 49.3 Malaysia Sale and letting of land
Gensa Sdn Bhd 49.3 49.3 Malaysia Sale and letting of land and
property
Genting Administrative Services Sdn Bhd 49.3 49.3 Malaysia Investment holding
# Genting Americas Inc 49.3 49.3 United States of Investment holding
America
# Genting Assets, INC 100.0 100.0 United States of Investment holding
America
Genting Awanpura Sdn Bhd 53.8 54.6 Malaysia Provision of technical and
management services
Genting Biodiesel Sdn Bhd 53.8 - Malaysia Manufacturing and sale of biodiesel
# Genting Bioscience Limited 53.8 54.6 Isle of Man Investment holding
Genting Biotech Sdn Bhd 53.8 54.6 Malaysia Investment holding
+ Genting Casinos UK Limited 49.3 49.3 United Kingdom Casino owner and operator
+ Genting CDX Singapore Pte Ltd 95.0 97.7 Singapore Oil & gas development and
(formerly known as Genting International production
Industries (Singapore) Pte Ltd)

31 December 2014
Effective
2014 2013
Genting Centre of Excellence Sdn Bhd 49.3 49.3 Malaysia Provision of training services
Genting CSR Sdn Bhd 49.3 49.3 Malaysia Investment holding
Genting East Coast USA Limited 49.3 49.3 Isle of Man Investment holding
+ Genting Energy Property Pte Ltd 95.0 95.0 Singapore Investment holding
Genting Entertainment Sdn Bhd 49.3 49.3 Malaysia Show agent
# Genting Florida LLC 49.3 49.3 United States of Investment holding
America
Genting Golf Course Bhd 49.3 49.3 Malaysia Condotel and hotel business, golf
resort and property development
Genting Green Tech Sdn Bhd 53.8 54.6 Malaysia Research and development and
production of superior oil palm
planting materials
Genting Highlands Berhad 49.3 49.3 Malaysia Land and property development
Genting Highlands Tours and 49.3 49.3 Malaysia Letting of land and premises
Promotion Sdn Bhd
Genting Ibico Holdings Limited 49.3 49.3 Isle of Man Investment holding
Genting Indahpura Development Sdn Bhd 53.8 54.6 Malaysia Property development
+ Genting Industrial Holdings Limited 97.7 97.7 Isle of Man Investment holding
Genting Information Knowledge Enterprise 49.3 49.3 Malaysia Research in software development,
Sdn Bhd provision of IT and consultancy
services
Genting Integrated Biorefinery Sdn Bhd 40.3 - Malaysia Manufacturing and sale of
downstream palm oil derivatives
+ Genting Integrated Resorts Operations 52.5 52.0 Singapore Provision of resort management
Management Pte Ltd and consultancy services
+ Genting Integrated Resorts (Singapore) Pte Ltd 52.5 52.0 Singapore Provide consultancy and
management services for
leisure, hospitality, resorts and
entertainment industry
+ Genting Integrated Resorts II (Singapore) 52.5 - Singapore Investment holding company
Pte Ltd
+ Genting Integrated Resorts III (Singapore) 52.5 - Singapore International resort management
Pte Ltd
# Genting International Corp 52.5 52.0 United States Investment
of America
+ Genting International Gaming & Resort 52.5 52.0 Singapore Providing information technology
Technologies Pte Ltd services relating to the gaming
and resort industry
+ Genting International Investment 49.3 49.3 United Kingdom Property investment and
Properties (UK) Limited development
+ Genting International Investment 49.3 49.3 United Kingdom Investment holding
(UK) Limited
# Genting International Japan Co., Ltd 52.5 52.0 Japan Marketing and promotion of resort
destinations
+ Genting International Limited 52.5 52.0 Isle of Man Investment holding
+ Genting International Management Limited 52.5 52.0 Isle of Man Investment holding and ownership
of intellectual property rights
+ Genting International Management Services 52.5 52.0 Singapore Investment holding
Pte Ltd
Genting International Paper Limited 100.0 100.0 Isle of Man Investment holding
+ Genting International Resorts 52.5 52.0 Isle of Man Investment holding
Management Limited
Genting International Sdn Bhd 52.5 52.0 Malaysia Provision of management services
+ Genting International Services (HK) Limited 52.5 - Hong Kong Investment holding

31 December 2014
Effective
2014 2013
+ Genting International Services Singapore 52.5 52.0 Singapore Provision of international sales and
Pte Ltd marketing services and corporate
services
+ Genting International (Singapore) Pte Ltd 52.5 52.0 Singapore Tour promotion
+ Genting International (UK) Limited 49.3 49.3 United Kingdom Investment holding
Genting Irama Sdn Bhd 49.3 49.3 Malaysia Investment holding
+ Genting Lanco Power (India) Pvt Ltd 74.0 74.0 India Provision of operation and
maintenance services for power
plant
Genting Land Sdn Bhd 53.8 54.6 Malaysia Property investment
Genting Leisure Sdn Bhd 49.3 49.3 Malaysia Investment holding
+ Genting MZW Pte Ltd 100.0 - Singapore Investment holding
# Genting Nevada Inc 49.3 49.3 United States of Investment holding
America
+ Genting New York LLC 49.3 49.3 United States of Developer and operator of a
America video lottery facility
+ Genting (NSW) Pty Ltd 52.5 52.0 Australia Investments and provision of
management services
+ Genting Oil & Gas Limited 95.0 95.0 Isle of Man Investment holding
+ Genting Oil Kasuri Pte Ltd 95.0 95.0 Singapore Oil & gas exploration
Genting Oil Mill Sdn Bhd 53.8 54.6 Malaysia Processing of fresh fruit bunches
Genting Overseas Management Limited 100.0 100.0 Isle of Man Investment holding
+ Genting (Park Lane Mews Hotel) Limited 49.3 49.3 United Kingdom Hotel operator
Genting Permaipura Golf Course Berhad 53.8 54.6 Malaysia Operation of golf and
recreational club
Genting Plantations (WM) Sdn Bhd 53.8 54.6 Malaysia Oil Palm plantation
Genting Power China Limited 100.0 100.0 Bermuda Investment holding
+ Genting Power Holdings Limited 100.0 100.0 Isle of Man Investment holding
+ Genting Power (India) Limited 100.0 100.0 Mauritius Investment holding
Genting Power Indonesia Limited 100.0 100.0 Isle of Man Investment holding
+ Genting Power (M) Limited 100.0 100.0 Isle of Man Investment holding
+ Genting Properties (UK) Pte Ltd 49.3 49.3 Singapore Property investment
Genting Property Sdn Bhd 53.8 54.6 Malaysia Property development
Genting Sanyen (Malaysia) Sdn Bhd 97.7 97.7 Malaysia Investment holding and
management company
Genting Sanyen Power (Labuan) Limited 100.0 100.0 Labuan, Malaysia Investment holding
Genting SDC Sdn Bhd 53.8 54.6 Malaysia Oil palm plantation and processing
of fresh fruit bunches
+ Genting Singapore Aviation 52.5 52.0 Cayman Islands Purchasing, owning and operating
of aircrafts for passenger air
transportation
+ Genting Singapore Aviation Management 52.5 52.0 Cayman Islands Managing of aircrafts for passenger
air transportation
+ Genting Singapore Aviation III Ltd 52.5 52.0 Bermuda Purchasing, owning and operating
of aircrafts for passenger air
transportation
+ Genting Singapore PLC 52.5 52.0 Isle of Man Investment holding
Genting Skyway Sdn Bhd 49.3 49.3 Malaysia Provision of cable car services
+ Genting Solihull Limited 49.3 49.3 United Kingdom Property development
# Genting Star Limited 52.5 52.0 British Virgin Investment holding
Islands
# Genting Star (Macau) Limited 52.5 52.0 Macau Entertainment, leisure and
hospitality
Genting Tanjung Bahagia Sdn Bhd 53.8 54.6 Malaysia Oil palm plantation
+ Genting UK Plc 49.3 49.3 United Kingdom Investment holding
Genting (USA) Limited 49.3 49.3 Isle of Man Investment holding
31 December 2014
Effective
2014 2013

Genting Utilities & Services Sdn Bhd 49.3 49.3 Malaysia Provision of electricity supply
services at Genting Highlands
and investment holding
Genting World Sdn Bhd 49.3 49.3 Malaysia Leisure and entertainment
business
Genting WorldCard Services Sdn Bhd 49.3 49.3 Malaysia Provision of loyalty programme
services
Genting Worldwide (Labuan) Limited 49.3 49.3 Labuan, Malaysia Offshore financing
Genting Worldwide Limited 49.3 49.3 Isle of Man Investment holding
Genting Worldwide (UK) Limited 49.3 49.3 Isle of Man Investment holding
Gentinggi Sdn Bhd 49.3 49.3 Malaysia Investment holding
GHR Risk Management (Labuan) Limited 49.3 49.3 Labuan, Malaysia Offshore captive insurance
+ Global Agri Investment Pte Ltd 34.0 34.5 Singapore Investment holding
Global Bio-Diesel Sdn Bhd 53.8 54.6 Malaysia Investment holding
+ GlobalIndo Holdings Pte Ltd (formerly known 34.0 34.5 Singapore Investment holding
as Global Agripalm Investment Holdings
Pte Ltd)
+ Golden Site Limited 49.3 49.3 Hong Kong, International sales and marketing
SAR services
+ Golden Site Pte Ltd 49.3 49.3 Singapore International sales and marketing
services
# GP Overseas Limited 53.8 54.6 Isle of Man Investment holding
+ GP (Raigad) Pte Ltd 100.0 100.0 Singapore Investment holding
+ GP Renewables Pte Ltd 100.0 100.0 Singapore Investment holding
+ GP Wind (Jangi) Private Limited 100.0 100.0 India Generation and supply of
electric power
GProperty Construction Sdn Bhd 53.8 54.6 Malaysia Provision of project management
services
+ Grand Knight International Limited 52.5 52.0 British Virgin Investment holding
Islands
+ Green Synergy Holdings Pte Ltd 100.0 100.0 Singapore Investment holding
+ Green Synergy Limited 100.0 100.0 Hong Kong, SAR Investment holding
+ Greenfield Resources Capital Limited 52.5 52.0 British Virgin Investment holding
Islands
+ GSHK Capital Limited 52.5 52.0 Hong Kong, SAR Provision of marketing
coordination and promotion
services for resorts, hotels and
other facilities owned by related
companies
+ Happy Bay Pte Ltd 52.5 52.0 Singapore Investment holding
# Hill Crest LLC 49.3 49.3 United States of Investment holding
America
+ Kara Palm Oil Pte Ltd 53.8 54.6 Singapore Investment holding
+ Ketapang Agri Holdings Pte Ltd 39.6 54.6 Singapore Investment holding
Kijal Facilities Services Sdn Bhd 49.3 49.3 Malaysia Letting of its apartments units
Kijal Resort Sdn Bhd 49.3 49.3 Malaysia Property development and
property management
Lacustrine Limited 100.0 100.0 Isle of Man Investments
Lafleur Limited 49.3 49.3 Isle of Man Investment holding
+ Landsdale Pte Ltd 52.5 52.0 Singapore Investment holding
Landworthy Sdn Bhd 45.2 45.9 Malaysia Oil palm plantation
+ Legold Pte Ltd 52.5 52.0 Singapore Investment holding
Leisure & Cafe Concept Sdn Bhd 49.3 49.3 Malaysia Karaoke business

31 December 2014
Effective
2014 2013

+ Lestari Listrik Pte Ltd 100.0 100.0 Singapore Investment holding
Lingkaran Cergas Sdn Bhd 49.3 49.3 Malaysia Provision of services at Genting
Highlands
Lion Agriculture (Indonesia) Sdn Bhd 100.0 - Malaysia Investment holding
Maxims Clubs Sdn Bhd 52.5 52.0 Malaysia Leisure and hospitality
Mediglove Sdn Bhd 53.8 54.6 Malaysia Investment holding
+ Medo Investment Pte Ltd 52.5 52.0 Singapore Investment holding
+ Medo Limited 52.5 52.0 Isle of Man Investment holding
# Meizhou Wan Power Production Holding 100.0 100.0 Cayman Islands Investment holding
Company, Ltd
# MoonLake Co., Ltd. 52.5 - Japan Development, management,
Nature Base Sdn Bhd 49.3 49.3 Malaysia Provision of services at Genting
Highlands
Nedby Limited 49.3 49.3 Isle of Man Investment holding
Netyield Sdn Bhd 49.3 49.3 Malaysia Provision of services at Genting
Highlands
Newquest Limited 100.0 100.0 Isle of Man Investments
+ Newquest Resources Pte Ltd 100.0 - Singapore Investment holding
+ Northspring Capital Ltd 52.5 52.0 British Virgin Investment holding
Islands
+ Northspring Global Ltd 52.5 52.0 British Virgin Investment holding
Islands
+ Northspring International Ltd 52.5 52.0 British Virgin Investment holding
Islands
+ Northspring Management Ltd 52.5 52.0 British Virgin Investment holding
Islands
+ Northspring Resources Ltd 52.5 52.0 British Virgin Investment holding
Islands
* North Spring Capital Blue LLC 52.5 52.0 Mongolia Real estate activities and
management consulting
* North Spring Capital Mongolia LLC 52.5 52.0 Mongolia Buying, leasing, selling, renting
immovable properties, foreign
trading activities and business
consulting
+ North Spring Enterprises LLC 52.5 52.0 Mongolia Real estate activities and business
consulting
+ North Spring Investments LLC 52.5 52.0 Mongolia Real estate activities and
management consulting
Oakwood Sdn Bhd 49.3 49.3 Malaysia Property investment and
management
+ Ocean Star Resources Limited 52.5 52.0 British Virgin Provision of sales and marketing
Islands services
Orbit Crescent Sdn Bhd 53.8 54.6 Malaysia Investment holding
Orient Star International Limited 49.3 49.3 Bermuda Ownership and operation of aircraft
Orient Wonder International Limited 49.3 49.3 Bermuda Ownership and operation of aircraft
+ Oriental Explorer Pte Ltd 95.0 95.0 Singapore Leasing of land rig
Oxalis Limited 100.0 100.0 Isle of Man Coal trading
+ Palma Citra Investama Pte Ltd 39.6 - Singapore Investment holding
Palma Ketara Sdn Bhd 53.8 - Malaysia Investment holding
+ PalmIndo Holdings Pte Ltd (formerly known 39.6 54.6 Singapore Investment holding
as Palm Agri Holdings Pte Ltd)
31 December 2014
Effective
2014 2013
PalmIndo Sdn Bhd 53.8 54.6 Malaysia Investment holding
+ Palomino Limited 52.5 52.0 Isle of Man Investment holding
+ Palomino Sun Limited 52.5 52.0 Isle of Man Investment holding
* Palomino Sun (UK) Limited 52.5 52.0 United Kingdom Investment holding
Papago Sdn Bhd 49.3 49.3 Malaysia Resort and hotel business
+ Phoenix Express Limited (formerly known as 52.5 52.0 British Virgin Investment holding
Northspring Group Ltd) Islands
+ PineGlory Pte Ltd 52.5 - Singapore Investment holding
+ Poppleton Limited 52.5 - British Virgin Investment holding
Islands
Possible Wealth Sdn Bhd 49.3 49.3 Malaysia International sales and
marketing services; and
investment holding
+ Prestelle Pte Ltd 52.5 52.0 Singapore Investment holding
+ Prospero Development Limited 52.5 - British Virgin Investment holding
Islands
+ PT Citra Sawit Cemerlang 37.6 38.2 Indonesia Oil palm plantation
+ PT Dwie Warna Karya 51.1 51.9 Indonesia Oil palm plantation and processing
+ PT Genting Plantations Nusantara 53.8 54.6 Indonesia Provision of management services
+ PT GlobalIndo Agung Lestari 32.3 32.8 Indonesia Oil palm plantation
+ PT GlobalIndo Investama Lestari 32.3 32.8 Indonesia Oil palm plantation
+ PT GlobalIndo Mitra Abadi Lestari 32.3 32.8 Indonesia Oil palm plantation
+ PT Kapuas Maju Jaya 51.1 51.9 Indonesia Oil palm plantation
+ PT Lestari Banten Energi 95.0 95.0 Indonesia Generation and supply of
electric power
+ PT Lestari Properti Investama 95.0 95.0 Indonesia Property investment
+ PT Permata Sawit Mandiri 37.6 - Indonesia Oil palm plantation
+ PT Sawit Mitra Abadi 37.6 38.2 Indonesia Oil palm plantation
+ PT Sepanjang Intisurya Mulia 37.6 38.2 Indonesia Oil palm plantation and processing
+ PT Surya Agro Palma 37.6 38.2 Indonesia Oil palm plantation
+ PT Susantri Permai 51.1 51.9 Indonesia Oil palm plantation
+ PT Varita Majutama 95.0 - Indonesia Oil palm plantation
Resorts Facilities Services Sdn Bhd 49.3 49.3 Malaysia Property upkeep services
Resorts Tavern Sdn Bhd 49.3 49.3 Malaysia Land and property development
+ Resorts World at Sentosa Pte Ltd 52.5 52.0 Singapore Construction, development and
operation of an integrated resort
at Sentosa
Resorts World at Sentosa Sdn Bhd 52.5 52.0 Malaysia Hotel, resort and leisure related
activities
# Resorts World Aviation LLC (formerly known 49.3 49.3 United States Owner of aeroplanes
as RWD US LLC) of America
Resorts World Capital Limited 49.3 49.3 Isle of Man Investment holding
# Resorts World Japan Co., Ltd. 52.5 - Japan Investment holding; Development,
management, marketing and
promotion of integrated resort
and leisure destinations; Real
estate and any related businesses
# Resorts World Las Vegas LLC 100.0 100.0 United States Investment holding
of America
+ Resorts World Limited 49.3 49.3 Isle of Man Investment holding and investment
trading
+ Resorts World Marketing Pte Ltd 52.5 52.0 Singapore Sales and marketing services
# Resorts World Miami LLC 49.3 49.3 United States Property investment
of America

31 December 2014
Effective
2014 2013
# Resorts World OMNI LLC 49.3 49.3 United States of Hotel business
America
# Resorts World Osaka Co., Ltd. 52.5 - Japan Development, management,
+ Resorts World Properties Pte Ltd 52.5 52.0 Singapore Investment holding
+ Resorts World Properties II Pte Ltd 52.5 52.0 Singapore Constructing and operating a fish
farm
Resorts World Properties Sdn Bhd 49.3 49.3 Malaysia Investment holding
# Resorts World Tokyo Co., Ltd. 52.5 - Japan Investment holding; Development,
management, marketing and
promotion of integrated resort
and leisure destinations; Real
estate and any related businesses
Resorts World Tours Sdn Bhd 49.3 49.3 Malaysia Provision of tour and travel related
services
* Resorts World Travel Services Private Limited 49.3 49.3 India Travel agency
Roundhay Limited 95.0 95.0 Isle of Man Investment holding
# RWBB Management Ltd 49.3 49.3 Commonwealth of Provision of casino management
The Bahamas services
# RWBB Resorts Management Ltd 49.3 49.3 Commonwealth of Provision of resort management
The Bahamas services
+ Sandai Maju Pte Ltd 39.6 54.6 Singapore Investment holding
+ Sanggau Holdings Pte Ltd 39.6 54.6 Singapore Investment holding
Sawit Sukau Usahasama Sdn Bhd 30.1 30.5 Malaysia Oil palm plantation
Seraya Mayang Sdn Bhd 49.3 49.3 Malaysia Investment holding
Setiacahaya Sdn Bhd 76.9 77.3 Malaysia Property investment
Setiamas Sdn Bhd 53.8 54.6 Malaysia Oil palm plantation and property
development
Setiaseri Sdn Bhd 49.3 49.3 Malaysia Letting of its apartment units
Sierra Springs Sdn Bhd 49.3 49.3 Malaysia Investment holding
+ South East Asia Agri Investment Pte Ltd 34.0 34.5 Singapore Investment holding
SPC Biodiesel Sdn Bhd 53.8 - Malaysia Manufacturing and sale of biodiesel
+ Sri Nangatayap Pte Ltd 39.6 54.6 Singapore Investment holding
# Stanley Casinos Holdings Limited 49.3 49.3 United Kingdom Investment holding
# Stanley Overseas Holdings Limited 49.3 49.3 United Kingdom Investment holding
+ Star Eagle Holdings Limited 52.5 52.0 British Virgin Investment holding
Islands
# StarLight Co., Ltd. 52.5 - Japan Development, management,
# SunLake Co., Ltd. 52.5 - Japan Development, management,
Sunyield Success Sdn Bhd 53.8 54.6 Malaysia Investment holding
+ Swallow Creek Limited 95.0 95.0 Isle of Man Investment holding
+ Tamerton Pte Ltd 52.5 52.0 Singapore Investment holding, hotel
developer and owner
Technimode Enterprises Sdn Bhd 53.8 54.6 Malaysia Property investment
+ Trevena Limited 52.5 - British Virgin Investment holding
Islands
Trushidup Plantations Sdn Bhd 53.8 54.6 Malaysia Investment holding
31 December 2014
Effective
2014 2013
# Two Digital Trees LLC 49.3 49.3 United States of Investment holding
America
+ Vestplus (Hong Kong) Limited 49.3 49.3 Hong Kong, SAR Payment and collection agent
Vestplus Sdn Bhd 49.3 49.3 Malaysia Sale and letting of apartment units;
and payment and collection agent
Wawasan Land Progress Sdn Bhd 53.8 54.6 Malaysia Oil palm plantation
+ WEB Energy Ltd 100.0 100.0 Mauritius Investment holding
Widuri Pelangi Sdn Bhd 49.3 49.3 Malaysia Golf resort and hotel business
+ WorldCard Overseas Holdings Limited 52.5 52.0 Isle of Man Service provider of loyalty
programmes
WorldCard Services Sdn Bhd 49.3 49.3 Malaysia Provision of loyalty
programme services
+ Xian Ascend Software Technology Co., Ltd. 49.3 49.3 China Research and development and
provision of IT related services
Genting Bio-Oil Sdn Bhd 97.7 97.7 Malaysia Ceased operation
* Wuxi Huada Gas Turbine Electric Power 60.0 60.0 China Ceased operation
Company
Aberdeen Avenue Limited 49.3 49.3 Isle of Man Dormant
# Advanced Technologies Ltd 49.3 49.3 Dominica Dormant
# Annabels Casino Limited 49.3 49.3 United Kingdom Dormant
Aura Empire Sdn Bhd 53.8 54.6 Malaysia Dormant
# Baychain Limited 49.3 49.3 United Kingdom Dormant
# C C Derby Limited 49.3 49.3 United Kingdom Dormant
# Capital Casinos Group Limited 49.3 49.3 United Kingdom Dormant
# Capital Clubs Limited 49.3 49.3 United Kingdom Dormant
# Capital Corporation (Holdings) Limited 49.3 49.3 United Kingdom Dormant
# Capital Corporation Limited 49.3 49.3 United Kingdom Dormant
# Cascades Casinos Limited 49.3 49.3 United Kingdom Dormant
# Cascades Clubs Limited 49.3 49.3 United Kingdom Dormant
# Castle Casino Limited 49.3 49.3 United Kingdom Dormant
Cengkeh Emas Sdn Bhd 53.8 54.6 Malaysia Dormant
# Churchstirling Limited 49.3 49.3 United Kingdom Dormant
Cosmo-Jupiter Sdn Bhd 53.8 54.6 Malaysia Dormant
# Cotedale Limited 49.3 49.3 United Kingdom Dormant
# Crockfords Club Limited 49.3 49.3 United Kingdom Dormant
# Crockfords Investments Limited 49.3 49.3 Guernsey Dormant
# Cromwell Sporting Enterprises Limited 49.3 49.3 United Kingdom Dormant
Dasar Pinggir (M) Sdn Bhd 97.7 97.7 Malaysia Dormant
# Dealduo Limited 49.3 49.3 United Kingdom Dormant
Delquest Sdn Bhd 49.3 49.3 Malaysia Dormant
Dianti Plantations Sdn Bhd 53.8 54.6 Malaysia Dormant
# Drawlink Limited 49.3 49.3 United Kingdom Dormant
+ Freeany Enterprises Limited 49.3 49.3 United Kingdom Dormant
# Gameover Limited 49.3 49.3 United Kingdom Dormant
GBD Ventures Sdn Bhd 53.8 54.6 Malaysia Dormant
Genas Sdn Bhd 49.3 49.3 Malaysia Dormant
Genawan Sdn Bhd 49.3 49.3 Malaysia Dormant
GENM Capital Berhad 49.3 - Malaysia Dormant
Gentas Sdn Bhd 49.3 49.3 Malaysia Dormant
Gentasa Sdn Bhd 49.3 49.3 Malaysia Dormant
Genting Biofuels Sdn Bhd 97.7 97.7 Malaysia Dormant
Genting Commodities Trading Sdn Bhd 53.8 54.6 Malaysia Dormant
+ Genting International Enterprises (Singapore) 49.3 49.3 Singapore Dormant
Pte Ltd
31 December 2014
Effective
2014 2013

# Genting Las Vegas LLC 49.3 49.3 United States of Dormant
America
Genting Newsprint Sdn Bhd 100.0 100.0 Malaysia Dormant
Genting Project Services Sdn Bhd 49.3 49.3 Malaysia Dormant
+ Genting Property Limited 100.0 100.0 Isle of Man Dormant
Genting Vegetable Oils Refinery Sdn Bhd 53.8 54.6 Malaysia Dormant
Genting West Coast USA Limited 49.3 49.3 Isle of Man Dormant
Gentinggi Quarry Sdn Bhd 49.3 49.3 Malaysia Dormant
Glugor Development Sdn Bhd 53.8 54.6 Malaysia Dormant
# Grosmont Limited 53.8 54.6 Isle of Man Dormant
# Harbour House Casino Limited 49.3 49.3 United Kingdom Dormant
# Hazelman Limited 49.3 49.3 United Kingdom Dormant
Hijauan Cergas Sdn Bhd 53.8 - Malaysia Dormant
Hitechwood Sdn Bhd 49.3 49.3 Malaysia Dormant
Ikhlas Tiasa Sdn Bhd 49.3 49.3 Malaysia Dormant
# Incomeactual Limited 49.3 49.3 United Kingdom Dormant
Infomart Sdn Bhd 100.0 100.0 Malaysia Dormant
# International Sporting Club (London) Limited 49.3 49.3 United Kingdom Dormant
Jomara Sdn Bhd 49.3 49.3 Malaysia Dormant
Kenyalang Borneo Sdn Bhd 53.8 54.6 Malaysia Dormant
Kinavest Sdn Bhd 53.8 54.6 Malaysia Dormant
# Langway Limited 49.3 49.3 United Kingdom Dormant
Larisan Prima Sdn Bhd 53.8 54.6 Malaysia Dormant
# Maxims Casinos Limited 49.3 49.3 United Kingdom Dormant
Merriwa Sdn Bhd 49.3 49.3 Malaysia Dormant
# Metro Leisure Group Limited 49.3 49.3 United Kingdom Dormant
# MLG Investments Limited 49.3 49.3 United Kingdom Dormant
Neutrino Space Sdn Bhd 49.3 49.3 Malaysia Dormant
# Ocean Front Acquisition, LLC 49.3 49.3 United States Dormant
of America
# Palm Beach Club Limited 49.3 49.3 United Kingdom Dormant
# Palomino World (UK) Limited 49.3 49.3 United Kingdom Dormant
# Pellanfayre Limited 49.3 49.3 United Kingdom Dormant
Possible Affluent Sdn Bhd 49.3 49.3 Malaysia Dormant
Profile Rhythm Sdn Bhd 53.8 - Malaysia Dormant
Rapallo Sdn Bhd 49.3 49.3 Malaysia Dormant
Resorts World Enterprise Limited 49.3 49.3 Isle of Man Dormant
Resorts World Ventures Limited 49.3 49.3 Isle of Man Dormant
# RW Orange County LLC 49.3 - United States Dormant
of America
# RWD US Holding Inc 49.3 49.3 United States Dormant
of America
R.W. Investments Limited 49.3 49.3 Isle of Man Dormant
Sahabat Alam Sdn Bhd 97.7 97.7 Malaysia Dormant
Space Fair Sdn Bhd 49.3 49.3 Malaysia Dormant
# Sportcrest Limited 49.3 49.3 United Kingdom Dormant
# St Aubin Properties Limited 49.3 49.3 United Kingdom Dormant
# Stanley Genting Casinos (Leeds) Limited 50.9 50.7 United Kingdom Dormant
# Stanley Genting Casinos Limited 50.9 50.7 United Kingdom Dormant
# Stanley Interactive Limited 49.3 49.3 United Kingdom Dormant
+ Stanley Leisure Group (Malta) Limited 49.3 49.3 Malta Dormant
+ Stanley Leisure (Ireland) 49.3 49.3 Ireland Dormant
# Stanley Online Limited 49.3 49.3 United Kingdom Dormant
# Stanley Snooker Clubs Limited 49.3 49.3 United Kingdom Dormant
31 December 2014
Effective
2014 2013

# Star City Casino Limited 49.3 49.3 United Kingdom Dormant
Sweet Bonus Sdn Bhd 49.3 49.3 Malaysia Dormant
# Tameview Properties Limited 49.3 49.3 United Kingdom Dormant
# The Colony Club Limited 49.3 49.3 United Kingdom Dormant
# The Kings Casino (Yarmouth) Limited 49.3 49.3 United Kingdom Dormant
# The Midland Wheel Club Limited 49.3 49.3 United Kingdom Dormant
# Tower Casino Group Limited 49.3 49.3 United Kingdom Dormant
# Tower Clubs Management Limited 49.3 49.3 United Kingdom Dormant
# Triangle Casino (Bristol) Limited 49.3 49.3 United Kingdom Dormant
Tullamarine Sdn Bhd 49.3 49.3 Malaysia Dormant
# TV-AM Enterprises Limited 49.3 49.3 United Kingdom Dormant
# TV-AM Limited 49.3 49.3 United Kingdom Dormant
# TV-AM (News) Limited 49.3 49.3 United Kingdom Dormant
Twinkle Glow Sdn Bhd 49.3 49.3 Malaysia Dormant
Twinmatics Sdn Bhd 49.3 49.3 Malaysia Dormant
# VendWorld, LLC 49.3 49.3 United State Dormant
of America
Vintage Action Sdn Bhd 49.3 49.3 Malaysia Dormant
# Westcliff Casino Limited 49.3 49.3 United Kingdom Dormant
# Westcliff (CG) Limited 49.3 49.3 United Kingdom Dormant
# William Crockford Limited 49.3 49.3 United Kingdom Dormant
# Worthchance Limited 49.3 49.3 United Kingdom Dormant
Yarrawin Sdn Bhd 49.3 49.3 Malaysia Dormant
Zillionpoint Project Sdn Bhd 53.8 54.6 Malaysia Dormant
# ACGT Global Pte Ltd 53.8 54.6 Singapore Pre-operating
# ACGT Singapore Pte Ltd 53.8 54.6 Singapore Pre-operating
Awana Hotels & Resorts Sdn Bhd 100.0 100.0 Malaysia Pre-operating
Awana Vacation Resorts Management 100.0 100.0 Malaysia Pre-operating
Sdn Bhd
+ Full East Enterprise Limited 53.8 54.6 Hong Kong, SAR Pre-operating
+ Genting Casinos Egypt Limited 49.3 49.3 United Kingdom Pre-operating
Genting Energy Sdn Bhd 97.7 97.7 Malaysia Pre-operating
# Genting Leisure LLC 100.0 100.0 United States of Pre-operating
America
# Genting Management Services LLC 49.3 49.3 United States of Pre-operating
America
Genting Petroleum Ventures Limited 95.0 95.0 Isle of Man Pre-operating
Genting Power International Limited 100.0 100.0 Isle of Man Pre-operating
Genting Power Philippines Limited 100.0 100.0 Isle of Man Pre-operating
Genting Sanyen Incineration Sdn Bhd 97.7 97.7 Malaysia Pre-operating
Genting Sanyen Indonesia Limited 95.0 95.0 Isle of Man Pre-operating
# GGT Singapore Pte Ltd 53.8 54.6 Singapore Pre-operating
# GP Equities Pte Ltd 53.8 54.6 Singapore Pre-operating
# Ketapang Holdings Pte Ltd 39.6 54.6 Singapore Pre-operating
+ Lestari Energi Pte Ltd 100.0 100.0 Singapore Pre-operating
# Sri Kenyalang Pte Ltd 53.8 54.6 Singapore Pre-operating
Tamanaco Limited 100.0 100.0 Isle of Man Pre-operating
# Transworld Agri Investment Pte Ltd 34.0 34.5 Singapore Pre-operating
# Universal Agri Investment Pte Ltd 34.0 34.5 Singapore Pre-operating
+ Gecoun Limited (In Members Voluntary 100.0 100.0 Isle of Man In liquidation
Liquidation)
+ Genting International (Thailand) Limited (In 47.8 47.3 Thailand In liquidation
Members Voluntary Liquidation)
+ Genting Oil Morocco Limited (In Members 95.0 95.0 Isle of Man In liquidation
Voluntary Liquidation)
31 December 2014
Effective
2014 2013

GP China Limited (In Members Voluntary 100.0 100.0 Isle of Man In liquidation
Liquidation)
Highlands Exploration Limited (In Members 95.0 95.0 Isle of Man In liquidation
Voluntary Liquidation)
Highlands Power Development Limited (In 100.0 100.0 Isle of Man In liquidation
Jamberoo Limited (In Members Voluntary 95.0 95.0 Isle of Man In liquidation
Liquidation)
+ Laila Limited (In Members Voluntary 95.0 95.0 Isle of Man In liquidation
Liquidation)
* Myanmar Genting Sanyen Limited (In 100.0 100.0 Myanmar In liquidation
* Nanjing Coastal Xingang Cogeneration Power 80.0 80.0 China In liquidation
Plant (Placed under early dissolution and
Sorona Limited (In Members Voluntary 100.0 100.0 Isle of Man In liquidation
Liquidation)
+ Suzhou Ascend Technology Co., Limited (In 49.3 49.3 China In liquidation
Tetha Limited (In Members Voluntary 95.0 95.0 Isle of Man In liquidation
Liquidation)
Torrens Limited (In Members Voluntary 97.7 97.7 Isle of Man In liquidation
Liquidation)
# Genting 3 Limited - 52.0 United Kingdom Dissolved
# Genting Assets, LLC - 100.0 United States Dissolved
of America
# Genting Investments Corp - 100.0 United States Dissolved
of America
# Setiabahagia Sdn Bhd - 49.3 Malaysia Dissolved
# Pacific Sky LLC - 52.0 Mongolia De-registered
# Fox Poker Club Limited - 49.3 United Kingdom Struck-off
+ Genting India Travel Services Private Limited - 52.0 India Struck-off
Joint Ventures
+ Autumnglow Pte Ltd 26.2 - Singapore Provision of management and
operation services
+ DCP (Sentosa) Pte Ltd 42.0 41.6 Singapore Construction, development and
operation of a district cooling
plant supplying chilled water for
air-conditioning needs at Sentosa
+ FreeStyle Gaming Limited 50.0 50.0 Hong Kong, Interactive and online software
SAR solutions including intranet
solutions
* Fujian Pacific Electric Company Limited 49.0 100.0 China Generation and supply of electric
power
+ Genting Alderney Limited 50.0 50.0 Alderney Channel Online gaming operator
Islands
Genting Simon Sdn Bhd 26.9 27.3 Malaysia Development, ownership and
management of outlet shopping
centres
+ Resorts World Inc Pte Ltd 50.0 50.0 Singapore Investment holding
# RW Services Inc 50.0 50.0 United States Provision of technical and
of America consulting services and
programme management

31 December 2014
Effective
2014 2013
Joint Ventures (contd)

RW Tech Labs Sdn Bhd (formerly known as 50.0 50.0 Malaysia Provision of management services
RW Services (M) Sdn Bhd)
+ RW Services Pte Ltd 50.0 50.0 Singapore Provision of technical and
consulting services and
programme management
# RWI International Investments Limited 50.0 50.0 British Virgin Investment holding
Island
# Simon Genting Limited 26.9 27.3 Isle of Man Investment holding
# Apollo Genting London Limited 24.7 24.7 United Kingdom Dormant
Genting INTI Education Sdn Bhd 17.3 17.3 Malaysia Dormant
# Genting Nevada Interactive Gaming LLC 50.0 50.0 United States Pre-operating
of America
# Genting U.S. Interactive Gaming Inc 50.0 50.0 United States Pre-operating
of America
* 808 Holdings Pte Ltd 17.5 17.3 Singapore In liquidation
* Gemstones Investments Pte Ltd 17.5 17.3 Singapore In liquidation
* Kensington Hotel Pte Ltd 17.5 17.3 Singapore In liquidation
* Kensington Residential Pte Ltd 17.5 17.3 Singapore In liquidation
* KHS Management Limited 17.5 17.3 United Kingdom In liquidation
Associates
* Lanco Kondapalli Power Limited 30.0 30.0 India Generation and supply of electric
power
* Lanco Tanjore Power Company Limited 41.6 41.6 India Generation and supply of electric
power
+ Landing Jeju Development Co., Ltd. 26.2 - Korea To own, develop, manage and
operate an integrated resort in
Seowipo City, Jeju, Korea
* Landmarks Berhad 30.3 30.3 Malaysia Resort, property investment and
property development
* Serian Palm Oil Mill Sdn Bhd 21.5 21.8 Malaysia Processing of fresh fruit bunches
* Sri Gading Land Sdn Bhd 26.3 26.8 Malaysia Property development
* TauRx Pharmaceuticals Ltd 20.7 20.7 Singapore Development of novel
treatments and diagnostics for
Alzheimers disease and other
neurodegenerative diseases
+ GaiaAgri Services Ltd 16.1 16.4 Mauritius Pending de-registration
Asiatic Ceramics Sdn Bhd (In liquidation) 26.3 26.8 Malaysia In liquidation (Receiver appointed)
* The financial statements of these companies are audited by firms other than the auditors of the Company.
+ The financial statements of these companies are audited by member firms of PricewaterhouseCoopers International Limited
which are separate and independent legal entities from PricewaterhouseCoopers, Malaysia.
# These entities are either exempted or have no statutory audit requirement.
50. APPROVAL OF FINANCIAL STATEMENTS
The financial statements have been approved for issue in accordance with a resolution of the Board of Directors on 26 February
2015.

31 December 2014
51. REALISED AND UNREALISED PROFITS/LOSSES

The breakdown of the retained profits of the Group and the Company as at 31 December 2014 and 2013, into realised and
unrealised profits, pursuant to a directive issued by Bursa Malaysia Securities Berhad (Bursa Securities) on 25 March 2010
and 20 December 2010 is as follows:
Group Company
2014 2013 2014 2013
Total retained profits/(accumulated losses):
- Realised 30,964.7 28,735.9 8,750.1 8,213.7
- Unrealised (1,009.8) (766.8) 29.2 37.2
29,954.9 27,969.1 8,779.3 8,250.9
Total share of retained profits/(accumulated losses) from associates:

- Realised 359.4 394.8 - -
- Unrealised (30.8) (22.8) - -
Total share of retained profits/(accumulated losses) from joint

ventures:
- Realised 92.7 55.2 - -
- Unrealised 3.1 - - -
30,379.3 28,396.3 8,779.3 8,250.9
Less: Consolidation adjustments (8,728.7) (8,144.6) - -
Total retained profits 21,650.6 20,251.7 8,779.3 8,250.9
The determination of realised and unrealised profits is compiled based on Guidance of Special Matter No. 1, Determination of
Realised and Unrealised Profits or Losses in the Context of Disclosure Pursuant to Bursa Securities Listing Requirements, issued
by the Malaysian Institute of Accountants on 20 December 2010.
The disclosure of realised and unrealised profits above is solely for the purposes of complying with the disclosure requirements
stipulated in the directive of Bursa Securities and should not be applied for any other purposes.

STATEMENT ON DIRECTORS RESPONSIBILITY PURSUANT TO
PARAGRAPH 15.26(a) OF THE LISTING REQUIREMENTS OF BURSA
MALAYSIA SECURITIES BERHAD
As required under the Companies Act, 1965 (Act), the Directors of Genting Berhad have made a statement expressing an
opinion on the financial statements. The Board is of the opinion that the financial statements have been drawn up so as to give
a true and fair view of the state of affairs of the Group and of the Company as at 31 December 2014 and of the results and the
cash flows of the Group and of the Company for the financial year ended on that date in accordance with Financial Reporting
Standards, the MASB Approved Accounting Standards in Malaysia for Entities Other Than Private Entities and comply with the
provisions of the Act.
In the process of preparing these financial statements, the Directors have reviewed the accounting policies and practices to
ensure that they were consistently applied throughout the financial year. In cases where judgement and estimates were made,
they were based on reasonableness and prudence.
Additionally, the Directors have relied on the systems of risk management and internal control to ensure that the information
generated for the preparation of the financial statements from the underlying accounting records is accurate and reliable.
This statement is made in accordance with a resolution of the Board dated 26 February 2015.
STATUTORY DECLARATION PURSUANT TO SECTION 169(16)

OF THE COMPANIES ACT, 1965
I, CHONG KIN LEONG, the Officer primarily responsible for the financial management of GENTING BERHAD, do solemnly
and sincerely declare that the financial statements set out on pages 69 to 163 are, to the best of my knowledge and belief,
correct and I make this solemn declaration conscientiously believing the same to be true, and by virtue of the provisions of the
Statutory Declarations Act, 1960.
Subscribed and solemnly declared by the abovenamed )

CHONG KIN LEONG
CHONG KIN LEONG at KUALA LUMPUR on )
26 February 2015
Before me,
TAN SEOK KETT

Commissioner for Oaths
Kuala Lumpur

INDEPENDENT AUDITORS REPORT
TO THE MEMBERS OF GENTING BERHAD
(Incorporated in Malaysia)
(Company No.7916-A)
REPORT ON THE FINANCIAL STATEMENTS
We have audited the financial statements of Genting Berhad on pages 69 to 162 which comprise the statements of financial position as
at 31 December 2014 of the Group and of the Company, the statements of income, statements of comprehensive income, statements
of changes in equity and statements of cash flows of the Group and of the Company for the financial year then ended, and a summary
of significant accounting policies and other explanatory notes, as set out on Notes 1 to 50.
Directors Responsibility for the Financial Statements
The Directors of the Company are responsible for the preparation of financial statements so as to give a true and fair view in accordance
with Financial Reporting Standards and the requirements of the Companies Act, 1965 in Malaysia. The Directors are also responsible
for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.
Auditors Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with
approved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The
procedures selected depend on our judgement, including the assessment of risks of material misstatement of the financial statements,
whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entitys preparation of
financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the effectiveness of the entitys internal control. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Directors, as well as
evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements give a true and fair view of the financial position of the Group and of the Company as of 31
December 2014 and of their financial performance and cash flows for the financial year then ended in accordance with Financial
Reporting Standards and the requirements of the Companies Act, 1965 in Malaysia.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
In accordance with the requirements of the Companies Act, 1965 in Malaysia, we also report the following:
(a) In our opinion, the accounting and other records and the registers required by the Act to be kept by the Company and its
subsidiaries of which we have acted as auditors have been properly kept in accordance with the provisions of the Act.
(b) We have considered the financial statements and the auditors reports of all the subsidiaries of which we have not acted as
auditors, which are indicated in Note 49 to the financial statements.
(c) We are satisfied that the financial statements of the subsidiaries that have been consolidated with the Companys financial
statements are in form and content appropriate and proper for the purposes of the preparation of the financial statements of the
Group and we have received satisfactory information and explanations required by us for those purposes.
(d) The audit reports on the financial statements of the subsidiaries did not contain any qualification or any adverse comment made
under Section 174(3) of the Act.
OTHER REPORTING RESPONSIBILITIES
The supplementary information set out in Note 51 on page 163 is disclosed to meet the requirement of Bursa Malaysia Securities
Berhad and is not part of the financial statements. The Directors are responsible for the preparation of the supplementary information
in accordance with Guidance on Special Matter No. 1, Determination of Realised and Unrealised Profits or Losses in the Context of
Disclosure Pursuant to Bursa Malaysia Securities Berhad Listing Requirements, as issued by the Malaysian Institute of Accountants
(MIA Guidance) and the directive of Bursa Malaysia Securities Berhad. In our opinion, the supplementary information is prepared,
in all material respects, in accordance with the MIA Guidance and the directive of Bursa Malaysia Securities Berhad.
OTHER MATTERS
This report is made solely to the members of the Company, as a body, in accordance with Section 174 of the Companies Act, 1965 in
Malaysia and for no other purpose. We do not assume responsibility to any other person for the content of this report.

PRICEWATERHOUSECOOPERS LEE TUCK HENG
(No. AF: 1146) (No. 2092/09/16(J))
Chartered Accountants Chartered Accountant
Kuala Lumpur
26 February 2015
PricewaterhouseCoopers (AF1146), Chartered Accountants,

Level 10, 1 Sentral, Jalan Travers, Kuala Lumpur Sentral, P. O. Box 10192, 50706 Kuala Lumpur, Malaysia
T: +60 (3) 2173 1188, F: +60 (3) 2173 1288, www.pwc.com/my

FIVE-YEAR SUMMARY

2014 2013 2012 2011 2010
Revenue 18,216.5 17,111.7 16,461.9 18,580.1 15,194.7
EBITDA 6,627.5 6,116.4 6,775.0 7,632.8 7,094.3

Profit before taxation 4,262.3 4,344.2 4,826.0 6,364.7 4,394.3
Taxation (1,108.7) (746.9) (1,122.6) (1,450.8) (983.6)
Profit for the financial year 3,146.1 3,705.1 5,787.3 5,145.2 3,410.7
Profit attributable to equity holders of the Company 1,496.1 1,810.1 3,983.5 2,867.5 2,203.0
Share capital 374.3 371.9 371.9 371.6 371.4

Treasury shares (212.5) (210.9) (210.3) (209.6) (43.2)
Retained earnings 21,650.6 20,251.7 19,961.6 16,218.9 13,799.1
Other reserves 5,018.5 4,901.3 1,576.5 1,237.8 1,370.2
26,830.9 25,314.0 21,699.7 17,618.7 15,497.5
Perpetual capital securities of a subsidiary 6,098.9 5,985.6 5,789.5 - -
Non-controlling interests 20,128.9 19,273.0 16,979.4 15,548.2 13,949.0
Non-current liabilities 12,786.2 12,642.2 14,777.2 13,934.4 13,659.8
65,844.9 63,214.8 59,245.8 47,101.3 43,106.3
Property, plant and equipment 25,887.6 24,570.2 22,166.0 21,629.7 18,684.5

Land held for property development 343.3 423.9 467.2 539.7 571.2
Investment properties 1,729.6 1,589.5 1,149.9 1,306.1 43.3
Plantation development 1,754.3 1,505.0 1,425.8 1,007.6 843.6
Leasehold land use rights 305.3 238.7 238.3 161.2 129.8
Intangible assets 5,414.0 5,330.0 6,114.3 6,504.5 5,031.3
Rights of use of oil and gas assets 3,171.3 1,481.4 932.6 890.0 577.2
Associates 1,064.2 844.0 542.7 811.3 765.9
Available-for-sale financial assets 2,856.2 3,936.1 2,875.5 1,913.4 2,591.4
Other non-current assets 3,453.7 1,222.6 799.9 752.0 509.6
Total non-current assets 45,979.5 41,141.4 36,712.2 35,515.5 29,747.8
Net current assets 19,865.4 22,073.4 22,533.6 11,585.8 13,358.5
65,844.9 63,214.8 59,245.8 47,101.3 43,106.3
Basic earnings per share (sen) 40.27 48.99 107.85 77.52 59.57
Net dividend per share (sen) 4.00 37.50 6.00 6.00 5.85
Dividend cover (times) 10.1 1.3 18.0 12.9 10.2
Current ratio 3.67 3.67 4.54 2.60 3.26
Net assets per share (RM) 7.22 6.85 5.87 4.77 4.18
Return (after tax and non-controlling interests)
on average shareholders equity (%) 5.74 7.70 20.26 17.32 14.99
Market share price

- highest (RM) 10.35 10.97 11.19 11.88 11.15
- lowest (RM) 8.71 9.21 8.64 8.54 6.26
Certain figures relating to the previous years have been reclassified/adjusted to conform with the current years presentation,
mainly due to adoption of new/revised FRSs.

LIST OF PROPERTIES HELD
31 December 2014
NET BOOK
VALUE AS AT AGE OF YEAR OF
APPROXIMATE 31 DEC 2014 BUILDING ACQUISITION (A)/
LOCATION TENURE AREA DESCRIPTION (RMmillion) (Years) REVALUATION (R)
MALAYSIA
STATE OF PAHANG
DARUL MAKMUR
1 Genting Highlands, Bentong Freehold Built-up : 100,592 18-storey Genting Grand Complex 205.1 33 1982 (R)
sq.metres
2 Genting Highlands, Bentong Freehold Built-up : 95,485 sq.metres 23-storey Resort Hotel & Car Park II 128.3 22 1992 (A)
3 Genting Highlands, Bentong Freehold Built-up : 496,384 22-storey First World Hotel & Car 872.3 15 2000 (A)
sq.metres Park V
4 Genting Highlands, Bentong Freehold Built-up : 20,516 sq.metres 23-storey Awana Tower Hotel 25.3 21 1993 (A)
5 Genting Highlands, Bentong Freehold Built-up : 19,688 sq.metres 10-level Theme Park Hotel 19.3 43 1989 (R)
6 Genting Highlands, Bentong Freehold Built-up : 11,902 sq.metres 10-level Theme Park Hotel - Valley 9.8 39 1989 (R)
Wing
7 Genting Highlands, Bentong Freehold Built-up : 29,059 sq.metres 16-storey Residential Staff Complex I 8.2 31 1989 (R)
8 Genting Highlands, Bentong Freehold Built-up : 28,804 sq.metres 19-storey Residential Staff Complex II 12.7 22 1992 (A)
9 Genting Highlands, Bentong Freehold Built-up : 89,392 sq.metres 16-storey Residential Staff Complex 49.2 22 1992 (A)
III & Car Park III
10 Genting Highlands, Bentong Freehold Built-up : 41,976 sq.metres 25-storey Residential Staff Complex V 43.6 18 1996 (A)
11 Genting Highlands, Bentong Freehold Built-up : 70,597 sq.metres 25-storey Residential Staff Complex 61.1 8 2007 (A)
VIII with 5 levels of carpark
12 Genting Highlands, Bentong Freehold Built-up : 4,119 sq.metres 5-storey Ria Staff Residence <0.1 42 1989 (R)
13 Genting Highlands, Bentong Freehold Built-up : 4,109 sq.metres 5-storey Sri Layang Staff Residence 10.0 20 1989 (R)
14 Genting Highlands, Bentong Freehold Built-up : 18,397 sq.metres 8-level Car Park I 1.4 31 1989 (R)
15 Genting Highlands, Bentong Freehold Built-up : 1,086 sq.metres 5-storey Bomba Building 0.6 31 1989 (A)
16 Genting Highlands, Bentong Freehold Built-up : 1,503 sq.metres Petrol Station 2.0 16 1999 (A)
17 Genting Highlands, Bentong Freehold Built-up : 2,769 sq.metres 4-storey Staff Recreation Centre 2.6 22 1992 (A)
18 Genting Highlands, Bentong Freehold Built-up : 540 sq.metres 1 unit of Kayangan Apartment 0.1 34 1989 (A)
1 unit of Kayangan Apartment 0.1 34 1990 (A)
19 Genting Highlands, Bentong Freehold Built-up : 7,666 sq.metres Awana @ Resorts World Genting 17.3 28 1989 (R)
Complex
20 Genting Highlands, Bentong Freehold Built-up : 17,010 sq.metres 174 units of Awana Condominium 18.0 28 1989 (R)
21 Genting Highlands, Bentong Freehold Built-up : 8,756 sq.metres 79 units of Ria Apartment 10.0 28 1989 (R)
(Pahang Tower)
22 Genting Highlands, Bentong Freehold Land : 3,295 hectares 7 plots of land & improvements 251.7 - 1989 (R)
1 plot of land & improvements 6.0 - 1996 (A)
10 plots of land & improvements 61.4 - 1989 (R)
1 plot of land & improvements <0.1 - 1991 (A)
3 plots of land & improvements 24.9 - 2002 (A)
23 Genting Highlands, Bentong Leasehold (unexpired Land : 6 hectares 2 plots of land & improvements 0.4 - 1994 (A)
lease period of 79 years)
24 Genting Highlands, Bentong Leasehold (unexpired Land : 5 hectares 3 plots of land 0.5 - 1995 (A)
25 Genting Highlands, Bentong Leasehold (unexpired Land : 3 hectares 1 plot of educational land 1.1 - 2000 (A)
26 Bukit Tinggi, Bentong Leasehold (unexpired lease Built-up : 49 sq.metres 1 unit of Meranti Park Apartment, 0.1 15 1999 (A)
period of 80 years) Berjaya Hills
27 Beserah, Kuantan Freehold Land : 3 hectares 2 plots of agriculture land with 1.2 28 1987 (A)
Built-up : 713 sq.metres residential bungalow
28 Beserah, Kuantan Freehold Land : 4 hectares 4 plots of vacant agriculture land 0.9 - 1989/1991 (A)
STATE OF SELANGOR
DARUL EHSAN
1 Genting Highlands, Freehold Built-up : 149,941 28-storey Maxims Hotel & Car Park IV 360.3 18 1997 (A)
Hulu Selangor sq.metres
2 Genting Highlands, Freehold Land : 6 hectares 2 plots of building land 6.1 - 1993 (A)
Hulu Selangor Built-up : 47,715 sq.metres 5-storey Genting Skyway Station 56.6 18 1997 (A)
Complex with 4-level of basement
carpark
3 Genting Highlands, Freehold Built-up : 3,008 sq.metres 2-storey & 4-storey Gohtong Jaya 4.7 17 1998 (A)
Hulu Selangor Security Buildings
4 Genting Highlands, Freehold Built-up : 5,406 sq.metres 47 units of Ria Apartments 5.3 28 1989 (R)
Hulu Selangor (Selangor Tower)
5 Genting Highlands, Freehold Land : 596 hectares 3 plots of building land 12.3 - 1989 (R)
Hulu Selangor 18 plots of building land 40.9 - 1995 (R)
7 plots of building land 10.4 - 1993 (A)
6 Genting Highlands, Gombak Freehold Land : 394 hectares 2 plots of vacant building land 28.8 - 1995 (R)
7 Batang Kali, Hulu Selangor Freehold Land : 10 hectares 1 plot of vacant agriculture land 2.1 - 1994 (A)
8 Ulu Yam, Hulu Selangor Freehold Land : 38 hectares 1 plot of vacant building land 15.0 - 1994 (A)
9 Ulu Yam, Hulu Selangor Freehold Land : 4 hectares 3 plots of vacant agriculture land 1.2 - 1994 (A)
10 Mukim Tanjung Dua Belas, Leasehold (unexpired lease Land : 0.5 hectare 1 plot of industrial land 0.1 - 1994 (A)
Kuala Langat period of 60 years)

LIST OF PROPERTIES HELD (contd)
31 December 2014
NET BOOK
STATE OF SELANGOR
DARUL EHSAN
11 Mukim Tanjung Dua Belas, Leasehold (unexpired Land : 2 hectares 5 plots of industrial land 0.3 - 1994 (A)
Kuala Langat lease period of 61 years)
12 Mukim Tanjung Dua Belas, Leasehold (unexpired Land : 1 hectare 1 plot of industrial land 0.1 - 1994 (A)
13 Mukim Tanjung Dua Belas, Leasehold (unexpired Land : 1 hectare 1 plot of industrial land <0.1 - 1994 (A)
14 Mukim Tanjung Dua Belas, Leasehold (unexpired Land : 2 hectares 1 plot of industrial land 2.1 - 1994 (A)
15 Pulau Indah, Klang Leasehold (unexpired Land : 18 hectares 5 plots of vacant industrial land & 15.8 - 1997 (A)
lease period of 81 years) improvements
16 Bangi Factory, Selangor Leasehold (unexpired Land : 1.2 hectares 1 plot of industrial land with factory 2.2 33 1990 (A)
lease period of 72 years) Built-up : 5,556 sq.metres
FEDERAL TERRITORY OF
KUALA LUMPUR
1 Taman U Thant, Kuala Lumpur Freehold Built-up : 178 sq.metres 1 unit of Desa Angkasa Apartment 0.2 28 1988 (A)
2 Jalan Sultan Ismail, Kuala Freehold Land : 3,940 sq.metres Wisma Genting - 25-level office 81.8 29 1983/1991 (A)
Lumpur Built-up : 63,047 sq.metres building with 6-level of basement
3 Segambut, Kuala Lumpur Leasehold (unexpired lease Land : 4 hectares Store, bus and limousine depot 8.4 39 1982 (A)
period of 60 years) Built-up : 2,601 sq.metres
STATE OF TERENGGANU
DARUL IMAN
1 Kijal, Kemaman Leasehold (unexpired Land : 259 hectares 4 plots of resort/property development 25.9 - 1996 (A)
lease period of 77 years) land
Land : 51 hectares 18-hole Resorts World Kijal Golf Course 9.7 - 1997 (A)
Built-up : 35,563 sq.metres 7-storey Resorts World Kijal Hotel 90.2 18 1997 (A)
Built-up : 1,757 sq.metres 27 units of Baiduri Apartment 2.3 20 1995 (A)
Built-up : 7,278 sq.metres 96 units of Angsana Apartment 7.2 19 1996 (A)
Leasehold (unexpired lease Land : 18 hectares 17 plots of resort/property 1.4 - 2002 (A)
period of 77 years) development land
Leasehold (unexpired lease Land : 10 hectares 1 plot of resort/property development 1.5 - 1995 (R)
period of 87 years) land
STATE OF KEDAH DARUL AMAN

1 Tanjung Malai, Langkawi Leasehold (unexpired lease Land : 14 hectares 5 plots of building land 10.2 - 1997 (A)
period of 73 years) Built-up : 20,957 sq.metres 3-5 storey Resorts World Langkawi 49.7 17 1997 (A)
Hotel, Convention Centre &
Multipurpose Hall
STATE OF JOHORE DARUL TAKZIM

1 Kluang, Johor Freehold Built-up : 1,103 sq.metres 1 unit of bio oil factory <0.1 9 2006 (A)
ESTATES/PROPERTY
DEVELOPMENT (PD)
1 Genting Bukit Sembilan Estate, Freehold Estate : 1,314 hectares Oil palm estate and property 40.8 - 1981 (R)
Baling/Sg. Petani/Jitra, Kedah PD : 145 hectares development
2 Genting Selama Estate, Freehold Estate : 1,830 hectares Oil palm estate 25.4 - 1981 (R)
Serdang & Kulim, Kedah/
Selama, Perak
3 Genting Sepang Estate, Sepang Freehold Estate : 666 hectares Oil palm estate and The Gasoline Tree 21.3 - 1981 (R)
& Ulu Langat, Selangor Experimental Research Station
4 Genting Tebong Estate, Jasin & Freehold Estate : 2,231 hectares Oil palm estate 31.5 - 1981 (R)
Alor Gajah, Melaka/Tampin &
Kuala Pilah, Negeri Sembilan
5 Genting Cheng Estate, Melaka Freehold Estate : 793 hectares Oil palm estate and property 19.7 - 1981 (R)
Tengah, Alor Gajah & Kuala PD : 1 hectare development
Linggi, Melaka
6 Genting Tanah Merah Estate, Freehold Estate : 1,801 hectares Oil palm estate and Seed garden 29.8 - 1981 (R)
Tangkak, Johor
7 Genting Sri Gading Estate, Batu Freehold Estate : 3,554 hectares Oil palm estate and property 122.5 - 1983 (A)
Pahat, Johor PD : 38 hectares development
8 Genting Sg. Rayat Estate, Batu Freehold Estate : 1,707 hectares Oil palm estate 30.4 - 1983 (A)
Pahat, Johor
9 Genting Sing Mah Estate, Air Freehold Estate : 669 hectares Oil palm estate and mill 14.2 34 1983 (A)
Hitam, Johor
10 Genting Kulai Besar Estate, Freehold Estate : 2,513 hectares Oil palm estate and property 222.4 - 1983 (A)
Kulai/Simpang Renggam, Johor PD : 85 hectares development, Genting Indahpura
Sports City, Car City and JPO
11 Genting Setiamas Estate, Freehold Estate : 96 hectares Oil palm estate and property 49.9 - 1996 (A)
Kulai & Batu Pahat, Johor PD : 61 hectares development
12 Genting Sabapalm Estate, Leasehold (unexpired lease Estate : 4,360 hectares Oil palm estate and mill 54.4 44 1991 (A)
Labuk Valley Sandakan, Sabah period of 71-873 years)
13 Genting Tanjung Estate, Leasehold (unexpired lease Estate : 4,345 hectares Oil palm estate and mill 45.5 20 1988 & 2001 (A)
Kinabatangan, Sabah period of 72-82 years)
14 Genting Bahagia Estate, Leasehold (unexpired lease Estate : 4,548 hectares Oil palm estate 53.4 - 1988 & 2003 (A)

31 December 2014
NET BOOK
ESTATES/PROPERTY
DEVELOPMENT (PD)
15 Genting Tenegang Estate, Leasehold (unexpired lease Estate : 3,653 hectares Oil palm estate 38.8 - 1990 (A)
Kinabatangan, Sabah period of 74 years)
16 Genting Landworthy Estate, Leasehold (unexpired lease Estate : 4,039 hectares Oil palm estate 41.4 - 1992 (A)
17 Genting Layang Estate, Leasehold (unexpired lease Estate : 2,077 hectares Oil palm estate 22.5 - 1993 (A)
18 Residential bungalow, Leasehold (unexpired lease Land : 1,206 sq.metres 2 units of 2-storey intermediate 0.1 30 1991 (A)
Sandakan, Sabah period of 873 years) Built-up : 374 sq.metres detached house
19 Genting Vegetable Oils Leasehold (unexpired lease Land : 8 hectares Vacant land 2.0 - 1992 (A)
Refinery, Sandakan, Sabah period of 66 years)
20 Genting Jambongan Estate, Leasehold (unexpired lease Land : 3,933 hectares Oil palm estate 107.6 - 2001-2004 &
Beluran, Sabah period of 19-86 years) 2014 (A)
21 Genting Indah, Genting Permai Leasehold (unexpired lease Land : 8,830 hectares Oil palm estate and mill 178.1 6 2001 (A)
Estate & Genting Kencana period of 82 years)
Estate, Kinabatangan, Sabah
22 Genting Mewah Estates, Leasehold (unexpired lease Land : 5,611 hectares Oil palm estate and mill 124.5 18 2002 (A)
23 Genting Sekong Estate & Leasehold (unexpired lease Land : 6,755 hectares Oil palm estate and mill 204.1 18 2004 (A)
Genting Suan Lamba Estate period of 8-84 years)
Kinabatangan, Sabah
24 Wisma Genting Plantations, Leasehold (unexpired lease Built-up : 2,023 sq.metres Office 2.7 12 2004 (A)
Sandakan, Sabah period of 86 years)
25 Lahad Datu, Sabah Leasehold (unexpired lease Land : 33.75 hectares Integrated Biorefinery 53.9 7 2011 & 2014 (A)
period of 90 years)
INDONESIA
1 Ketapang, Kalimantan Barat Leasehold (unexpired lease Land : 54,876 hectares Oil palm estate and mill 426.0 - 2006, 2009, 2011
period of 23-30 years) & 2014 (A)
2 Sanggau, Kalimantan Barat Yet to be determined Land : 17,500 hectares Oil palm estate 92.7 - 2010 (A)
3 Kapuas & Barito Selatan, Yet to be determined Land : 107,487 hectares Oil palm estate and mill 1,177.8 - 2008 & 2012 (A)
Kalimantan Tengah
4 West Java Leasehold (unexpired Land : 48.6 hectares Land for development of coal fired 144.6 - 2013 (A)
lease period of 19 years) power plant
Leasehold (unexpired Land : 9.8 hectares Land for development of coal fired 26.7 - 2013 & 2014 (A)
lease period of 29 years) power plant
Leasehold (unexpired Land : 0.25 hectares Land for development transmission 1.0 - 2013 (A)
lease period of 29 years) line
5 South Jakarta Freehold Built-up : 3,845 sq.metres 2 levels of office building at Ciputra 36.8 2 2013 (A)
World Jakarta 1
6 West Papua Leasehold (unexpired Land : 17,270 hectares Oil palm estate and mill 22.6 12 2014 (A)
7 West Papua Yet to be determined Land : 35,371 hectares Vacant land 8.5 - 2014 (A)
UNITED KINGDOM
1 Hyde Park, London Leasehold (unexpired lease Built-up : 286 sq.metres 2 units of residential apartment at 0.3 35 1980/1996 (A)
period of 962 years) Hyde Park Towers
2 Maxims Casino Club, Freehold Built-up : 1,036 sq.metres Casino Club 52.4 152 2010 (A)
Kensington
3 Newcastle Freehold Built-up : 1,464 sq.metres Casino Club 13.3 20 2010 (A)
4 Salford Freehold Built-up : 1,058 sq.metres Casino Club 8.5 17 2010 (A)
5 Wirral Freehold Built-up : 860 sq.metres Casino Club 3.0 35 2010 (A)
6 Leicester Freehold Built-up : 755 sq.metres Casino Club 5.9 35 2010 (A)
7 Bournemouth Freehold Built-up : 860 sq.metres Casino Club 6.3 115 2010 (A)
8 Southampton Freehold Built-up : 797 sq.metres Casino Club 8.2 115 2010 (A)
9 Bolton Freehold Built-up : 808 sq.metres Casino Club 4.8 115 2010 (A)
10 Glasgow Freehold Built-up : 3,402 sq.metres Casino Club 28.3 128 2010 (A)
11 Bristol Freehold Built-up : 873 sq.metres Casino Club 7.6 68 2010 (A)
12 Margate Freehold Built-up : 1,326 sq.metres Casino Club 5.2 58 2010 (A)
13 Torquay Freehold Built-up : 1,495 sq.metres Casino Club 5.1 25 2010 (A)
14 Crockfords Freehold Built-up : 1,907 sq.metres Casino Club 293.4 244 2010 (A)
15 31 Curzon Street next to Freehold Built-up : 307 sq.metres Office 37.2 238 2010 (A)
Crockfords
16 Cromwell Mint Freehold Built-up : 2,061 sq.metres Casino Club (include 11 residential 74.3 103 2010 (A)
flats)
17 Brighton (9 Preston St) Freehold Built-up : 85 sq.metres Vacant retail building 0.4 48 2010 (A)
18 508 Sauchiehall St. Glasgow Freehold Built-up : 292 sq.metres Vacant retail building 1.8 128 2011 (A)
19 London - 2 Stanhope Row Freehold Built-up : 2,709 sq.metres Hotel 265.3 21 2011 (A)
20 London - 17A Market Mew Freehold Built-up : 244 sq.metres Residential Apartment 14.2 50 2011 (A)
21 London - 36 Hertford Street Freehold Built-up : 747 sq.metres Residential Apartment 65.4 80 2011 (A)
22 London - 37 Hertford Street Freehold Built-up : 471 sq.metres Residential Apartment 43.7 240 2011 (A)
23 London - 46 Hertford Street Freehold Built-up : 600 sq.metres Vacant office building 63.8 251 2014 (A)
24 Metropolitan Hotel, Park Lane Freehold Built-up : 6,000 sq.metres Hotel 260.1 46 2013 (A)
25 Luton (Luton Casino & Luton Leasehold (unexpired Built-up : 984 sq.metres 2 Casino Clubs 10.1 33 2010 (A)
Electric) lease period of 977 years)

31 December 2014
NET BOOK
UNITED KINGDOM
26 Leith Leasehold (unexpired Built-up : 1,698 sq.metres Casino Club 17.1 15 2010 (A)
27 Brighton Leasehold (unexpired Built-up : 458 sq.metres Casino Club 2.0 54 2010 (A)
28 Westcliff Electric Leasehold (unexpired Built-up : 836 sq.metres Casino Club 24.2 88 2010 (A)
29 Westcliff Leasehold (unexpired Built-up : 4,529 sq.metres Casino Club 2.6 88 2010 (A)
30 Derby Leasehold (unexpired Built-up : 2,150 sq.metres Casino Club 20.6 5 2010 (A)
31 Birmingham Edgbaston Leasehold (unexpired Built-up : 1,488 sq.metres Casino Club 14.1 106 2010 (A)
32 Liverpool Renshaw Street Leasehold (unexpired Built-up : 1,498 sq.metres Casino Club 8.5 113 2010 (A)
33 London - 16 Stanhope Row Leasehold (unexpired Built-up : 103 sq.metres Residential Apartment 4.8 80 2011 (A)
34 Lytham St. Annes Leasehold (unexpired Built-up : 790 sq.metres Vacant <0.1 33 2010 (A)
35 Sheffield Leasehold (unexpired Built-up : 2,973 sq.metres Casino Club 30.8 7 2010 (A)
36 AB Leicester/Cant St (Leicester Leasehold (unexpired Built-up : 683 sq.metres Vacant <0.1 87 2010 (A)
Electric) lease period of 1 year)
37 Liverpool Queen Square Leasehold (unexpired Built-up : 2,230 sq.metres Casino Club 7.4 26 2010 (A)
38 Palm Beach Leasehold (unexpired Built-up : 1,489 sq.metres Casino Club 7.0 21 2010 (A)
39 Coventry Leasehold (unexpired Built-up : 1,309 sq.metres Casino Club 6.4 22 2012 (A)
40 Edinburgh York Place Leasehold (unexpired Built-up : 767 sq.metres Casino Club <0.1 153 2010 (A)
41 Portsmouth Mint Leasehold (unexpired Built-up : 733 sq.metres Vacant 2.5 63 2010 (A)
lease period of 1 year)
42 Nottingham Leasehold (unexpired Built-up : 2,508 sq.metres Casino Club 3.6 21 2010 (A)
43 Stoke Leasehold (unexpired Built-up : 2,415 sq.metres Casino Club 6.6 36 2010 (A)
44 Colony Leasehold (unexpired Built-up : 1,594 sq.metres Casino Club 5.5 106 2010 (A)
45 Manchester Leasehold (unexpired Built-up : 3,003 sq.metres Casino Club 13.1 106 2010 (A)
46 Birmingham Star City Leasehold (unexpired Built-up : 6,503 sq.metres Casino Club <0.1 21 2010 (A)
47 Blackpool Leasehold (unexpired Built-up : 1,354 sq.metres Casino Club <0.1 106 2010 (A)
48 Birmingham Hurst Street Leasehold (unexpired Built-up : 1,181 sq.metres Casino Club 1.6 56 2010 (A)
49 Reading Leasehold (unexpired Built-up : 1,682 sq.metres Casino Club 12.7 36 2010 (A)
50 Carlton Derby (Derby Maxims) Leasehold (unexpired Built-up : 546 sq.metres Casino Club <0.1 106 2010 (A)
51 Edinburg Fountain Park Leasehold (unexpired Built-up : 2,415 sq.metres Casino Club 16.5 21 2010 (A)
52 Plymouth Leasehold (unexpired Built-up : 575 sq.metres Casino Club 0.7 73 2010 (A)
53 London China Town Leasehold (unexpired Built-up : 600 sq.metres Casino Club 3.0 53 2011 (A)
54 Manchester Mint Leasehold (unexpired Built-up : 1,150 sq.metres Vacant <0.1 128 2010 (A)
55 Derby Mint Leasehold (unexpired Built-up : 738 sq.metres Vacant <0.1 63 2010 (A)
56 Plymouth Derry Cross Leasehold (unexpired Built-up : 2,137 sq.metres Vacant <0.1 8 2010 (A)
57 Portsmouth Electric Leasehold (unexpired Built-up : 120 sq.metres Vacant <0.1 78 2010 (A)
58 Southampton Harbour House Leasehold (unexpired Built-up : 1,254 sq.metres Vacant <0.1 153 2010 (A)
59 Southport Floral Gardens Leasehold (unexpired Built-up : 1,580 sq.metres Casino Club 18.2 7 2010 (A)
60 London - Wood Lane Leasehold (unexpired Built-up : 975 sq.metres 2 storey offices, laboratories and 0.8 54 2012 (A)
lease period of 5 years) meeting rooms
UNITED STATES OF AMERICA

1 1601 Biscayne Boulevard, Freehold Land : 0.1 hectare 1 plot of building land 8.9 - 2011 (A)
Miami Built-up : 120,309 sq.metres 5-storey Omni Office Building 255.5 40 2011 (A)
Built-up : 64,103 sq.metres 3-storey Omni Retail Building 43.1 40 2011 (A)
Built-up : 78,968 sq.metres 29-storey Omni Hilton Hotel 163.1 38 2011 (A)

31 December 2014
NET BOOK
UNITED STATES OF AMERICA

2 Downtown Miami, Miami Freehold Land : 0.9 hectare 1 plot of building land 57.5 - 2011 (A)
Built-up : 74 sq.metres Checkers Drive-In Restaurant 22 2011 (A)
Land : 5.7 hectares 1 plot of building land 737.4 - 2011 (A)
Built-up : 70,421 sq.metres 7-storey Miami Herald Building 52 & 85 2011 (A)
Built-up : 1,911 sq.metres 2-storey Boulevard Shops 85 2011 (A)
Land : 0.5 hectare 10 plots of land 13.8 - 2011 (A)
Built-up : 389 sq.metres 1 unit of Marquis Condominium 6.9 7 2011 (A)
3 Las Vegas, Nevada Freehold Land : 35.3 hectares 6 parcels of land improvements 1,320.9 - 2013 (A)
BAHAMAS
1 North Bimini Freehold Land : 1.7 hectares 1 plot of building land 7.6 - 2013 (A)
Built-up : 929 sq.metres Casino 69.2 2 2013 (A)
Built-up : 12,295 sq.metres Jetty 207.7 1 2014 (A)
SINGAPORE
1 Genting Centre Freehold Land : 0.2 hectare 13-storey commercial building 392.9 4 2011 (A)
Built-up : 11,947 sq.metres
2 Sungei Tengah Leasehold (unexpired Land : 2.1 hectares Holding facilities and equipments 15.2 - 2011 (A)
3 Integrated Resort at Sentosa Leasehold (unexpired lease Land : 49 hectares 4 parcels of land for construction, 8,405.9 - 2007 (A)
period of 52 years) development and establishment of
integrated resort
4 Pandan Garden Office Leasehold (unexpired Built-up : 14,365 sq.metres Residential buildings 43.4 6 2009 (A)
5 Jurong Lake District Leasehold (unexpired Land : 0.9 hectare 1 parcel of land for hotel development 636.4 - 2012 (A)
INDIA
1 District of Kutch, Gujarat Freehold Land : 51.4 hectares Land with Wind Turbines 3.5 - 2011 (A)
Built-up : 14,800 sq.metres
MONGOLIA
1 Ulaanbaatar, Mongolia Leasehold (unexpired Built-up : 7,800 sq.metres 12-storey commercial building 32.7 4 2011 (A)

ANALYSIS OF SHAREHOLDINGS/WARRANTHOLDINGS
Class of Shares : Ordinary shares of 10 sen each
Voting Rights
On a show of hands : 1 vote
On a poll : 1 vote for each share held
As at 27 April 2015
Size of Holdings No. of Shareholders % of Shareholders No. of Shares* % of Shares
Less than 100 3,614 8.877 22,715 0.001
100 - 1,000 16,262 39.945 12,652,286 0.340
1,001 - 10,000 16,640 40.873 65,980,456 1.775
10,001 - 100,000 3,370 8.278 99,286,921 2.670
100,001 to less than 5% of issued shares 821 2.017 1,976,714,819 53.167
5% and above of issued shares 4 0.010 1,563,273,034 42.047
TOTAL 40,711 100.000 3,717,930,231 100.000
* Excluding 25,120,000 shares bought back and retained by the Company as treasury shares.
THIRTY (30) LARGEST SECURITIES ACCOUNT HOLDERS AS PER RECORD OF DEPOSITORS AS AT 27 APRIL 2015
(without aggregating the securities from different securities accounts belonging to the same depositor)
Name No. of Shares % of Shares

1. Kien Huat Realty Sdn Berhad 777,387,240 20.909
3. HSBC Nominees (Asing) Sdn Bhd 254,490,174 6.845
Exempt AN For JPMorgan Chase Bank, National Association (U.S.A.)
4. CIMB Group Nominees (Tempatan) Sdn Bhd 200,000,000 5.379
Pledged Securities Account For Kien Huat Realty Sdn Bhd (ED GBASTON-GCM)
5. HSBC Nominees (Tempatan) Sdn Bhd 160,000,000 4.303
Exempt AN For Credit Suisse (SG BR-TST-TEMP)
Exempt AN For Credit Suisse (SG BR-TST-ASING)
7. Cartaban Nominees (Asing) Sdn Bhd 90,032,245 2.422
GIC Private Limited For Government Of Singapore (C)
SSBT Fund GB01 For Harbor International Fund
9. Lim Kok Thay 68,119,980 1.832
BBH And Co Boston For Matthews Pacific Tiger Fund
Exempt AN For State Street Bank & Trust Company (WEST CLT OD67)
Exempt AN For The Bank Of New York Mellon (MELLON ACCT)
BBH And Co Boston For Vanguard Emerging Markets Stock Index Fund
14. Malaysia Nominees (Tempatan) Sendirian Berhad 38,550,300 1.037
Great Eastern Life Assurance (Malaysia) Berhad (PAR 1)
TNTC For Future Fund Board Of Guardians
16. Citigroup Nominees (Asing) Sdn Bhd 30,647,476 0.824
CBNY For Orbis Global Equity Fund Limited
17. DB (Malaysia) Nominee (Asing) Sdn Bhd 30,540,084 0.821
State Street Australia Fund ATB1 For Platinum Asia Fund
CBNY For Orbis Sicav - Asia Ex-Japan Equity Fund
State Street Australia Fund Q4EQ For Platinum International Fund
RBC Investor Services Bank For Comgest Growth Emerging Markets (COMGEST GR PLC)
Caceis BK FR For Magellan
GIC Private Limited For Monetary Authority Of Singapore (H)
23. Cartaban Nominees (Tempatan) Sdn Bhd 24,244,900 0.652
Exempt AN For Eastspring Investments Berhad
24. Citigroup Nominees (Tempatan) Sdn Bhd 21,205,300 0.570
Exempt AN For AIA Bhd.
Exempt AN For J.P. Morgan Bank Luxembourg S.A.
SSBT Fund NV04 For Longleaf Partners International Fund
27. Datacorp Sdn Bhd 15,216,000 0.409
CBNY For Wintergreen Fund Inc
Exempt AN For JPMorgan Chase Bank, National Association (JPMELAB AIF APG)
CBNY For Orbis Institutional Funds Limited
TOTAL 2,722,405,260 73.224

ANALYSIS OF SHAREHOLDINGS/WARRANTHOLDINGS (contd)
Type of Securities : Warrants 2013/2018 Voting Rights at a meeting of Warrantholders
Exercise Price : RM7.96 On a show of hands : 1 vote
Expiry Date : 18 December 2018 On a poll : 1 vote for each Warrant held
As at 27 April 2015
No. of % of Outstanding
Size of Holdings Warrantholders % of Warrantholders No. of Warrants Warrants
Less than 100 741 4.570 30,713 0.004
100 - 1,000 10,036 61.901 4,292,947 0.580
1,001 - 10,000 4,626 28.533 13,818,844 1.866
10,001 - 100,000 675 4.163 18,599,395 2.511
100,001 to less than 5% of Outstanding Warrants 130 0.802 295,865,144 39.947
5% and above of Outstanding Warrants 5 0.031 408,029,416 55.092
TOTAL 16,213 100.000 740,636,459 100.000
THIRTY (30) LARGEST SECURITIES ACCOUNT HOLDERS AS PER RECORD OF DEPOSITORS AS AT 27 APRIL 2015
(without aggregating the securities from different securities accounts belonging to the same depositor)
% of
Outstanding
Name No. of Warrants Warrants
3. CIMB Group Nominees (Tempatan) Sdn Bhd 50,000,000 6.751
Pledged Securities Account For Kien Huat Realty Sdn Bhd (ED GBASTON-GCM)
Exempt AN For JPMorgan Chase Bank, National Association (U.S.A.)
5. HSBC Nominees (Tempatan) Sdn Bhd 40,000,000 5.401
Exempt AN For Credit Suisse (SG BR-TST-TEMP)
SSBT Fund NV04 For Longleaf Partners International Fund
SSBT Fund GB01 For Harbor International Fund
Exempt AN For Credit Suisse (SG BR-TST-ASING)
Exempt AN For The Bank Of New York Mellon (MELLON ACCT)
10. Lim Kok Thay 17,029,995 2.299
GIC Private Limited For Government Of Singapore (C)
12. Golden Hope Limited 13,162,812 1.777
BBH And Co Boston For Matthews Pacific Tiger Fund
SSBT Fund Stma For Longleaf Partners Unit Trust Longleaf Partners Global Ucits Fund
15. Malaysia Nominees (Tempatan) Sendirian Berhad 9,734,575 1.314
Great Eastern Life Assurance (Malaysia) Berhad (PAR 1)
State Street Australia Fund ATB1 For Platinum Asia Fund
TNTC For The Trustees Of Grinnell College
18. Citigroup Nominees (Tempatan) Sdn Bhd 5,272,225 0.712
Exempt AN For AIA Bhd.
Exempt AN For Citibank New York (Norges Bank 1)
GIC Private Limited For Monetary Authority Of Singapore (H)
TNTC For The Gannett Retirement Plans Master Trust
SSBT Fund NV18 For Longleaf Partners Global Fund
State Street Australia Fund Q4EQ For Platinum International Fund
Exempt AN For The Bank Of New York Mellon (BNYM AS E&A)
25. Maybank Nominees (Tempatan) Sdn Bhd 2,333,600 0.315
Pledged Securities Account For Mak Siew Wei
TNTC For Cable & Wireless Pension Trustee Limited
27. Inverway Sdn Bhd 2,244,250 0.303
TNTC For API Value Growth Fund, LLC
BNYM SA/NV For U.S. Bank Pension Plan
SSBT Fund PS1O For Pacific Select Fund Emerging Markets Portfolio
TOTAL 654,922,541 88.427

Substantial Shareholders As Per Register of Substantial Shareholders As at 27 April 2015
No. of Shares
Direct Interest % of Shares Deemed Interest % of Shares
Kien Huat Realty Sdn Berhad (Kien Huat) 1,468,782,860 39.51 8,977,000^ 0.24
Kien Huat International Limited - - 1,477,759,860* 39.75
Parkview Management Sdn Bhd - - 1,477,759,860* 39.75
MM Asset Management Holding LLC - - 255,141,300# 6.86
MassMutual Holding LLC - - 255,141,300# 6.86
Massachusetts Mutual Life Insurance Company - - 255,141,300# 6.86
Oppenheimer Acquisition, Corp. - - 255,141,300# 6.86
OppenheimerFunds, Inc. (OFI) - - 255,141,300+ 6.86
Oppenheimer Developing Markets Fund 219,961,100 5.92 - -
Notes:
^ Deemed interest through its subsidiary (Inverway Sdn Bhd).
* Deemed interest through Kien Huat and its subsidiary (Inverway Sdn Bhd).
#
Deemed interest through the direct shareholdings of the various funds (collectively, Funds) which are managed by its subsidiaries, OFI Global Institutional,
Inc. (OFI Global) and OFI. The voting rights of the shares in GENT which are registered in the name of the Funds are controlled by OFI Global or OFI, as the
case may be.
+
Deemed interest through the direct shareholdings of the various funds (collectively, Funds) which are managed by OFI and its subsidiary, OFI Global. The
voting rights of the shares in GENT which are registered in the name of the Funds are controlled by OFI or OFI Global, as the case may be.
Directors Shareholdings, Warrantholdings and Share Options As Per The Registers Pursuant to the
Companies Act, 1965 As At 27 April 2015
INTEREST IN THE COMPANY
No. of Shares No. of Warrants

Direct % of Deemed % of Direct % of Outstanding
Name Interest Shares Interest Shares Interest Warrants
Tan Sri Lim Kok Thay 68,119,980 1.8322 - - 17,029,995 2.2994
Tun Mohammed Hanif bin Omar 306,000 0.0082 - - 76,500 0.0103
Dato Dr. R Thillainathan (1a) 20,000 0.0005 - - 5,000 0.0007
INTEREST IN GENTING MALAYSIA BERHAD, A COMPANY WHICH IS 49.3% OWNED BY THE COMPANY
No. of Shares No. of Performance Shares granted

Direct % of Deemed % of Restricted Performance
Name Interest Shares Interest Shares Share Plan Share Plan
Tan Sri Lim Kok Thay 2,540,000 0.0448 - - Up to 1,842,700 Up to 5,429,500
Tun Mohammed Hanif bin Omar 930,000 0.0164 - - Up to 57,100 Up to 168,300
Mr Lim Keong Hui - - - - Up to 62,300 Up to 183,700
Tan Sri Dr. Lin See Yan 450,000 0.0079 - - - -
INTEREST IN GENTING PLANTATIONS BERHAD (GENP), A 53.5% OWNED SUBSIDIARY OF THE COMPANY
No. of Shares No. of Warrants

Direct % of Deemed % of Direct % of Outstanding
Name Interest Shares Interest Shares Interest Warrants
Tan Sri Lim Kok Thay 369,000 0.0477 - - 73,800 0.0594
Dato Dr. R Thillainathan (1b) - - - - - -

Directors Shareholdings, Warrantholdings and Share Options As Per The Registers Pursuant to the
Companies Act, 1965 As At 27 April 2015 (CONTD)
INTEREST IN GENTING SINGAPORE PLC (GENS), AN INDIRECT 52.6% OWNED SUBSIDIARY OF THE COMPANY
No. of Shares No. of Option

Shares
Outstanding/
Performance
Name Direct Interest % of Shares Deemed Interest % of Shares Shares*
Tan Sri Lim Kok Thay 8,974,600 0.0743 6,353,828,069(2) 52.5968 2,970,463/
750,000*
Tun Mohammed Hanif bin Omar - - - - 1,188,292
Mr Lim Keong Hui - - 6,353,828,069(2) 52.5968 -
Dato Dr. R Thillainathan 1,582,438 0.0131 - - -
Tan Sri Dr. Lin See Yan 200,000 0.0017 - - 296,292
Notes:
(1) The following disclosures are made pursuant to Section 134 (12) (c) of the Companies Act, 1965:
(a) Dato Dr. R Thillainathans spouse and children collectively hold 623,000 ordinary shares (0.0168%) and 155,750 warrants (0.021%) in the Company.
(b) Dato Dr. R Thillainathans spouse holds 10,000 ordinary shares (0.0013%) and 2,000 warrants (0.0016%) in GENP.
(2) Deemed interest through Parkview Management Sdn Bhd (PMSB), on account of Tan Sri Lim Kok Thay and Mr Lim Keong Hui being beneficiaries of a
discretionary trust of which PMSB is the trustee, in accordance with the Singapore Companies Act.
PMSB as trustee of the discretionary trust is deemed interested in the GENS shares held by Kien Huat Realty Sdn Berhad (KHR) and Genting Overseas
Holdings Limited, a wholly-owned subsidiary of the Company. KHR controls more than 20% of the voting capital of the Company.
AMERICAN DEPOSITORY RECEIPTS LEVEL 1 PROGRAMME
The Companys American Depository Receipts (ADR) Level 1 Programme commenced trading in the U.S. over-the-counter
market on 13 August 1999. Under the ADR programme, a maximum of 21 million ordinary shares of RM0.10 each representing
approximately 0.56% of the total issued and paid-up share capital (excluding treasury shares) of the Company can be traded in
ADRs. Each ADR represents 5 ordinary shares of RM0.10 each of the Company. The Bank of New York Mellon as the Depository
Bank has appointed Malayan Banking Berhad as its sole custodian of the shares of the Company for the ADR Programme. As
at 31 March 2015, there were 550,840 ADR outstanding representing 2,754,200 ordinary shares of the Company which have
been deposited with the sole custodian for the ADR Programme.

NOTICE OF ANNUAL GENERAL MEETING
NOTICE IS HEREBY GIVEN that the Forty-Seventh Annual General Meeting of Genting Berhad (the Company) will be held at
26th Floor, Wisma Genting, Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia on Thursday, 11 June 2015 at 10.00 am.
AS ORDINARY BUSINESSES
1. To lay before the meeting the Audited Financial Statements for the financial year ended 31
December 2014 and the Directors and Auditors Reports thereon. (Please see Explanatory Note A)
2. To approve the declaration of a final single-tier dividend of 3.0 sen per ordinary share of 10 sen
each for the financial year ended 31 December 2014 to be paid on 27 July 2015 to members
registered in the Record of Depositors on 30 June 2015. (Ordinary Resolution 1)
3. To approve the payment of Directors fees of RM932,150 for the financial year ended 31 December
2014 (2013 : RM928,550). (Ordinary Resolution 2)
4. To re-elect Tan Sri Lim Kok Thay as a Director of the Company pursuant to Article 99 of the Articles
of Association of the Company. (Ordinary Resolution 3)
5. To consider and, if thought fit, pass the following resolutions pursuant to Section 129 of the
Companies Act, 1965 :
(i) That Tun Mohammed Hanif bin Omar, retiring in accordance with Section 129 of the
Companies Act, 1965, be and is hereby re-appointed as a Director of the Company to hold
office until the conclusion of the next Annual General Meeting. (Ordinary Resolution 4)
(ii) That Dato Paduka Nik Hashim bin Nik Yusoff, retiring in accordance with Section 129 of the
Companies Act, 1965, be and is hereby re-appointed as a Director of the Company to hold office
until the conclusion of the next Annual General Meeting. (Please see Explanatory Note B) (Ordinary Resolution 5)
(iii) That Tan Sri Dr. Lin See Yan, retiring in accordance with Section 129 of the Companies Act,
1965, be and is hereby re-appointed as a Director of the Company to hold office until the
conclusion of the next Annual General Meeting. (Please see Explanatory Note B) (Ordinary Resolution 6)
(iv) That Dato Dr. R. Thillainathan, retiring in accordance with Section 129 of the Companies
Act, 1965, be and is hereby re-appointed as a Director of the Company to hold office until
the conclusion of the next Annual General Meeting. (Please see Explanatory Note B) (Ordinary Resolution 7)
6. To re-appoint PricewaterhouseCoopers as Auditors of the Company and to authorise the Directors
to fix their remuneration. (Ordinary Resolution 8)
AS SPECIAL BUSINESSES
To consider and, if thought fit, pass the following Ordinary Resolutions:
7. Authority to Directors pursuant to Section 132D of the Companies Act, 1965
That, subject always to the Companies Act, 1965, the Articles of Association of the Company,
the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (MMLR) and
the approval of any relevant governmental and/or regulatory authorities, where such approval is
required, the Directors be and are hereby authorised and empowered pursuant to Section 132D
of the Companies Act, 1965 to:
(1) issue and allot shares in the Company; and/or
(2) issue, make or grant offers, agreements, options or other instruments that might or would
require shares to be issued (collectively Instruments) during and/or after the period the
approval granted by this resolution is in force,
at any time and from time to time and upon such terms and conditions and for such purposes as
the Directors may, in their absolute discretion deem fit, provided that:
(i) the number of shares to be issued pursuant to the authority granted under this resolution,
when aggregated with all shares issued and/or shares that are capable of being issued from
the Instruments issued pursuant to Section 132D of the Companies Act, 1965 in the
preceding 12 months (calculated in accordance with the MMLR), does not exceed 10% of
the issued and paid-up share capital of the Company at the time of issuance of shares or
issuance, making or granting the Instruments; and

NOTICE OF ANNUAL GENERAL MEETING (contd)
AS SPECIAL BUSINESSES (contd)

7. Authority to Directors pursuant to Section 132D of the Companies Act, 1965 (contd)
(ii) for the purpose of determining the number of shares which are capable of being issued from
the Instruments, each Instrument is treated as giving rise to the maximum number of shares
into which it can be converted or exercised,
and such authority under this resolution shall continue to be in force until the conclusion of the
next Annual General Meeting of the Company or when it is required by law to be held, whichever
is earlier, and that:
(a) approval and authority be and are given to the Directors of the Company to take all such
actions that may be necessary and/or desirable to give effect to this resolution and in
connection therewith to enter into and execute on behalf of the Company any instrument,
agreement and/or arrangement with any person, and in all cases with full power to assent to
any condition, modification, variation and/or amendment (if any) in connection therewith;
and
(b) the Directors of the Company be and are also empowered to obtain the approval for the
listing of and quotation for the additional shares so issued on Bursa Malaysia Securities
Berhad. (Ordinary Resolution 9)
8. Proposed renewal of the authority for the Company to purchase its own shares
That, subject to the compliance with all applicable laws, the Companys Articles of Association,
and the regulations and guidelines applied from time to time by Bursa Malaysia Securities Berhad
(Bursa Securities) and/or any other relevant regulatory authority:
(a) approval and authority be and are given for the Company to utilise up to the aggregate
balances of the total retained earnings and share premium account of the Company, based
on its latest audited financial statements available up to the date of the transaction, to
purchase, from time to time during the validity of the approval and authority under this
resolution, such number of ordinary shares of nominal value RM0.10 each in the Company
(as may be determined by the Directors of the Company) on Bursa Securities upon such
terms and conditions as the Directors of the Company may deem fit and expedient in the
interests of the Company, provided that:
(i) the aggregate number of shares to be purchased and/or held by the Company pursuant to
this resolution does not exceed 4% of the total issued and paid-up ordinary share capital
of the Company at the time of purchase; and
(ii) in the event that the Company ceases to hold all or any part of such shares as a result
of (among others) cancellations, re-sales and/or distributions of any of these shares so
purchased, the Company shall be entitled to further purchase and/or hold such additional
number of shares as shall (in aggregate with the shares then still held by the Company)
not exceed 4% of the total issued and paid-up ordinary share capital of the Company at
the time of purchase,
and based on the audited financial statements of the Company for the financial year ended
31 December 2014, the balance of the Companys retained earnings and share premium
account were approximately RM8,779.3 million and RM1,416.0 million respectively;
(b) the approval and authority conferred by this resolution shall commence on the passing of this
resolution, and shall remain valid and in full force and effect until:
(i) the conclusion of the next Annual General Meeting of the Company;
(ii) the expiry of the period within which the next Annual General Meeting is required by law
to be held; or
(iii) the same is revoked or varied by an ordinary resolution of the shareholders of the
Company in a general meeting,
whichever occurs first;


8. Proposed renewal of the authority for the Company to purchase its own shares (contd)
(c) approval and authority be and are given to the Directors of the Company, in their absolute
discretion:
(i) to deal with the shares so purchased in the following manner:
(A) to cancel such shares;

(B) to retain such shares as treasury shares;
(C) to retain part of such shares as treasury shares and cancel the remainder of such
shares; and/or
(D) in any other manner as may be prescribed by applicable law and/or the regulations
and guidelines applied from time to time by Bursa Securities and/or any other
relevant authority for the time being in force,
and such authority to deal with such shares shall continue to be valid until all such
shares have been dealt with by the Directors of the Company; and
(ii) to deal with the existing treasury shares of the Company in the following manner:
(A) to cancel all or part of such shares;

(B) to distribute all or part of such shares as dividends to shareholders;
(C) to resell all or part of such shares on Bursa Securities in accordance with the relevant
rules of Bursa Securities; and/or
(D) in any other manner as may be prescribed by applicable law and/or the regulations
and guidelines applied from time to time by Bursa Securities and/or any other
relevant authority for the time being in force,
and such authority to deal with such shares shall continue to be valid until all such
shares have been dealt with by the Directors of the Company; and
(d) approval and authority be and are given to the Directors of the Company to take all such
actions that may be necessary and/or desirable to give effect to this resolution and, in
connection therewith:
(i) to enter into and execute on behalf of the Company any instrument, agreement and/or
arrangement with any person, and in all cases with full power to assent to any condition,
modification, variation and/or amendment (if any) as may be imposed by any relevant
regulatory authority or Bursa Securities, and/or as may be required in the best interest of
the Company; and/or
(ii) to do all such acts and things as the Directors may deem fit and expedient in the best
interest of the Company. (Ordinary Resolution 10)
9. Proposed renewal of shareholders mandate for recurrent related party transactions of a revenue
or trading nature
That approval and authority be and are hereby given for the Company and/or its unlisted
subsidiaries to enter into any of the transactions falling within the type of recurrent related party
transactions of a revenue or trading nature with the related parties (Proposed Shareholders
Mandate) as set out in Section 2.3 of the Circular to Shareholders in relation to the Proposed
Shareholders Mandate, provided that such transactions are undertaken in the ordinary course of
business, at arms length and based on commercial terms and on terms not more favourable to
the related party than those generally available to/from the public and are not, in the Companys
opinion, detrimental to the minority shareholders and that the breakdown of the aggregate value
of the recurrent related party transactions conducted/to be conducted during the financial year,
including the types of recurrent related party transactions made and the names of the related
parties, will be disclosed in the annual report of the Company pursuant to the requirements of the
Main Market Listing Requirements of Bursa Malaysia Securities Berhad;


9. Proposed renewal of shareholders mandate for recurrent related party transactions of a revenue
or trading nature (contd)
and such approval shall continue to be in force until:
(i) the conclusion of the next Annual General Meeting (AGM) of the Company following this
AGM at which such Proposed Shareholders Mandate is passed, at which time it will lapse,
unless by a resolution passed at the meeting, the authority is renewed;
(ii) the expiration of the period within which the next AGM of the Company after that date is
required to be held pursuant to Section 143(1) of the Companies Act, 1965 (but shall not
extend to such extension as may be allowed pursuant to Section 143(2) of the Companies
Act, 1965); or
(iii) revoked or varied by an ordinary resolution passed by the shareholders of the Company in a
general meeting,
whichever is earlier. (Ordinary Resolution 11)

10. To transact any other business of which due notice shall have been given.
FURTHER NOTICE IS HEREBY GIVEN that, subject to the shareholders approval for the payment of final single-tier dividend,
a depositor shall qualify for entitlement to the final single-tier dividend only in respect of:
(a) shares transferred into the depositors securities account before 4.00 p.m. on 30 June 2015 in respect of ordinary
transfers; and
(b) shares bought on Bursa Malaysia Securities Berhad on a cum entitlement basis according to the Rules of Bursa Malaysia
Securities Berhad.
By Order of the Board
LOH BEE HONG

Secretary
Kuala Lumpur
20 May 2015
Notes
1. A member entitled to attend and vote at this meeting is entitled to appoint a proxy or proxies (but not more than two) to attend and vote instead
of him. Where a member appoints two proxies, the appointments shall be invalid unless he specifies the proportions of his shareholding to be
represented by each proxy. If no such proportion is specified, the first named proxy shall be deemed as representing 100% of the shareholding and
the second named proxy shall be deemed as an alternate to the first named proxy.
2. If a member has appointed a proxy to attend this meeting and subsequently he attends the meeting in person, the appointment of such proxy shall
be null and void, and his proxy shall not be entitled to attend this meeting.
3. A proxy need not be a member of the Company and the provision of Section 149(1)(b) of the Companies Act, 1965 shall not apply to the Company.
There shall be no restriction as to the qualification of the proxy. A proxy appointed to attend and vote at the meeting of the Company shall have the
same rights as the member to speak at the meeting.
4. Where a member of the Company is an exempt authorised nominee which holds ordinary shares in the Company for multiple beneficial owners in
one (1) securities account (Omnibus Account), there is no limit to the number of proxies which the exempt authorised nominee may appoint
in respect of each Omnibus Account it holds. The appointment of two (2) or more proxies in respect of any particular Omnibus Account shall be
invalid unless the exempt authorised nominee specifies the proportion of its shareholdings to be represented by each proxy. An exempt authorised
nominee refers to an authorised nominee defined under the Securities Industry (Central Depositories) Act 1991 (SICDA) which is exempted from
compliance with the provisions of subsection 25A(1) of SICDA.
5. In the case of a corporation, the proxy form must be either under seal or signed by a duly authorised officer or attorney.
6. The original signed instrument appointing a proxy or the power of attorney or other authority, if any, must be deposited at the Registered Office of
the Company at 24th Floor, Wisma Genting, Jalan Sultan Ismail, 50250 Kuala Lumpur not less than 48 hours before the time set for holding the
meeting or at any adjournment thereof.
7. For the purpose of determining members who shall be entitled to attend the Annual General Meeting, the Company shall be requesting Bursa
Malaysia Depository Sdn Bhd to issue a Record of Depositors as at 4 June 2015. Only depositors whose names appear on the Record of Depositors
as at 4 June 2015 shall be entitled to attend the said meeting or appoint proxies to attend and vote on their behalf.

Explanatory Note A
This Agenda is meant for discussion only as under the provision of Section 169(1) of the Companies Act, 1965, the audited financial statements do not
require formal approval of the shareholders. Hence, this matter will not be put forward for voting.
Explanatory Note B
The Board has undertaken an annual assessment on the independence of all its Independent Directors including Dato Paduka Nik Hashim bin Nik
Yusoff, Tan Sri Dr. Lin See Yan and Dato Dr. R. Thillainathan who are seeking for re-appointment pursuant to Section 129 of the Companies Act, 1965
at the forthcoming 47th Annual General Meeting. The annual assessment has been disclosed in the Corporate Governance Statement of the Companys
2014 Annual Report.
Explanatory Notes on Special Businesses
1. Ordinary Resolution 9, if passed, will give a renewed mandate to the Directors of the Company pursuant to Section 132D of the Companies Act,
1965 (Renewed Mandate) for such purposes as the Directors may deem fit and in the interest of the Company. The Renewed Mandate, unless
revoked or varied at a general meeting, will expire at the conclusion of the next Annual General Meeting of the Company.
As at the date of this Notice, the Directors have not utilised the mandate granted to the Directors at the last Annual General Meeting held on 12
June 2014 and the said mandate will lapse at the conclusion of the Forty-Seventh Annual General Meeting.
The Company is seeking the approval from shareholders on the Renewed Mandate for the purpose of possible fund raising exercise including but
not limited to placement of shares for purpose of funding future investment project(s), working capital and/or acquisitions and to avoid delay and
cost in convening general meetings to approve such issue of shares.
2. Ordinary Resolution 10, if passed, will empower the Directors of the Company to purchase the Companys shares of an aggregate amount of up to
4% of the issued and paid-up share capital of the Company for the time being (Proposed Share Buy-Back Renewal) by utilising up to the total
retained earnings and share premium of the Company based on its latest audited financial statements up to the date of the purchase. The authority
under this resolution will expire at the conclusion of the next Annual General Meeting of the Company or the expiry of the period within which
the next Annual General Meeting is required by law to be held, or the same is revoked or varied by ordinary resolution of the shareholders of the
Company in a general meeting, whichever occurs first.
Further information on the Proposed Share Buy-Back Renewal is set out in the Document to Shareholders dated 20 May 2015 which is despatched
together with the Companys 2014 Annual Report.
3. Ordinary Resolution 11, if passed, will allow the Company and/or its unlisted subsidiaries to enter into recurrent related party transactions of a
revenue or trading nature pursuant to the provisions of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (Proposed
Shareholders Mandate). This authority will expire at the conclusion of the next Annual General Meeting of the Company or the expiry of the period
within which the next Annual General Meeting is required by law to be held, unless revoked or varied by an ordinary resolution of the shareholders
of the Company in a general meeting, whichever is earlier.
Further information on the Proposed Shareholders Mandate is set out in the Document to Shareholders dated 20 May 2015 which is despatched
together with the Companys 2014 Annual Report.
STATEMENT ACCOMPANYING NOTICE OF

ANNUAL GENERAL MEETING
Pursuant to Paragraph 8.27 (2) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
1. Details of individuals who are standing for election as Directors
No individual is seeking election as a Director at the forthcoming Forty-Seventh Annual General Meeting of the Company
(47th AGM).
2. Statement relating to general mandate for issue of securities in accordance with Paragraph 6.03(3) of the Main Market
Listing Requirements of Bursa Malaysia Securities Berhad
Details of the general mandate to issue securities in the Company pursuant to Section 132D of the Companies Act, 1965
are set out in Explanatory Note (1) of the Notice of 47th AGM.

(7916-A)
(Incorporated in Malaysia under the Companies Act, 1965)
FORM OF PROXY
(Before completing the form please refer to the notes overleaf)
I/We
(FULL NAME IN BLOCK CAPITALS)
NRIC No./Passport No./Co. No.:
of
(ADDRESS)
being a member of GENTING BERHAD hereby appoint
Name of Proxy NRIC No./Passport No. % of shareholding to be represented

(Full name) (Refer to Note 1)
Address
*and/or failing him/her,
Name of Proxy NRIC No./Passport No. % of shareholding to be represented

(Full name) (Refer to Note 1)
Address
or failing him/her, the *CHAIRMAN OF THE MEETING as *my/our proxy/proxies to attend and vote for me/us on my/our behalf
at the Forty-Seventh Annual General Meeting of the Company to be held at 26th Floor, Wisma Genting, Jalan Sultan Ismail,
50250 Kuala Lumpur, Malaysia on Thursday, 11 June 2015 at 10.00 a.m. and at any adjournment thereof.
* Delete if inapplicable
My/our proxy(ies) shall vote as follows:
ORDINARY BUSINESS RESOLUTION For Against

To approve the declaration of a final single-tier dividend of 3.0 sen per Ordinary Resolution 1
ordinary share
To approve the payment of Directors fees. Ordinary Resolution 2
To re-elect Tan Sri Lim Kok Thay as a Director pursuant to Article 99 of

the Articles of Association of the Company Ordinary Resolution 3
To re-appoint the following Directors in accordance with Section 129
of the Companies Act, 1965:
i) Tun Mohammed Hanif bin Omar Ordinary Resolution 4
ii) Dato Paduka Nik Hashim bin Nik Yusoff Ordinary Resolution 5
iii) Tan Sri Dr. Lin See Yan Ordinary Resolution 6
iv) Dato Dr. R. Thillainathan Ordinary Resolution 7

To re-appoint Auditors Ordinary Resolution 8
SPECIAL BUSINESS
To approve the authority to Directors pursuant to Section 132D of the Ordinary Resolution 9
Companies Act, 1965
To renew the authority for the Company to purchase its own shares Ordinary Resolution 10
To approve the proposed shareholders mandate for recurrent related Ordinary Resolution 11
party transactions of a revenue or trading nature.
(Please indicate with an X in the spaces provided how you wish your votes to be cast. If you do not do so, the proxy/proxies
will vote or abstain from voting at his/her/their discretion.)
Signed this ______ day of _______________________ 2015
No. of Shares held CDS Account No. Shareholders Contact No.

Signature of Member
NOTES
1. A member entitled to attend and vote at this meeting is entitled to appoint a proxy or proxies (but not more than two) to attend and vote instead
of him. Where a member appoints two proxies, the appointments shall be invalid unless he specifies the proportions of his shareholding to be
represented by each proxy. If no such proportion is specified, the first named proxy shall be deemed as representing 100% of the shareholding and
the second named proxy shall be deemed as an alternate to the first named proxy.
2. If a member has appointed a proxy to attend this meeting and subsequently he attends the meeting in person, the appointment of such proxy shall
be null and void, and his proxy shall not be entitled to attend this meeting.
3. A proxy need not be a member of the Company and the provision of Section 149(1)(b) of the Companies Act, 1965 shall not apply to the Company.
There shall be no restriction as to the qualification of the proxy. A proxy appointed to attend and vote at the meeting of the Company shall have the
same rights as the member to speak at the meeting.
4. Where a member of the Company is an exempt authorised nominee which holds ordinary shares in the Company for multiple beneficial owners in one
(1) securities account (Omnibus Account), there is no limit to the number of proxies which the exempt authorised nominee may appoint in respect
of each Omnibus Account it holds. The appointment of two (2) or more proxies in respect of any particular Omnibus Account shall be invalid unless
the exempt authorised nominee specifies the proportion of its shareholdings to be represented by each proxy. An exempt authorised nominee refers
to an authorised nominee defined under the Securities Industry (Central Depositories) Act 1991 (SICDA) which is exempted from compliance with
the provisions of subsection 25A(1) of SICDA.
5. In the case of a corporation, the proxy form must be either under seal or signed by a duly authorised officer or attorney.
6. The original signed instrument appointing a proxy or the power of attorney or other authority, if any, must be deposited at the Registered Office of
the Company at 24th Floor, Wisma Genting, Jalan Sultan Ismail, 50250 Kuala Lumpur not less than 48 hours before the time set for holding the
meeting or at any adjournment thereof.
7. For the purpose of determining members who shall be entitled to attend the Annual General Meeting, the Company shall be requesting Bursa
Malaysia Depository Sdn Bhd to issue a Record of Depositors as at 4 June 2015. Only depositors whose names appear on the Record of Depositors
as at 4 June 2015 shall be entitled to attend the said meeting or appoint proxies to attend and vote on their behalf.
GROUP OFFICES
GENTING BERHAD
LEISURE & HOSPITALITY DIVISION MEETINGS, INCENTIVES,

CONVENTIONS & EXHIBITIONS (M.I.C.E.) ~
RESORTS T : +603 2301 6686
F : +603 2333 3886
Resorts World Genting E : [email protected]
Genting Highlands mice.rwgenting.com
69000 Pahang Darul Makmur, Malaysia
T : +603 6101 1118 Malaysia Kuala Lumpur *
F : +603 6101 1888 Resorts World OneHub
Lower Ground Floor, Wisma Genting
Resorts World Sentosa Jalan Sultan Ismail
8 Sentosa Gateway, Sentosa 50250 Kuala Lumpur, Malaysia
Singapore 098269 T : +603 2718 1118
T : +65 6577 8888 F : +603 2718 1888
F : +65 6577 8890 Reservations:
[email protected]
Resorts World Manila Membership:
10F NECC Building, Newport Boulevard, Newport City [email protected]
Pasay 1309, Metro Manila, Philippines Book online at www.rwgenting.com
T : +632 908 8000
Genting International Sdn Bhd ^*
Awana Hotel 12th, Wisma Genting
KM 13, Genting Highlands Jalan Sultan Ismail
69000 Pahang Darul Makmur, Malaysia 50250 Kuala Lumpur, Malaysia
T : +603 6436 9000 T : +603 2178 2288 / 2333 2288
F : +603 6101 3535 F : +603 2161 6368
Resorts World Kijal Malaysia Ipoh *

KM 28, Jalan Kemaman-Dungun 11, Ground Floor, Persiaran Greentown 8
24100 Kijal, Kemaman Greentown Business Centre, 30450 Ipoh
Terengganu Darul Iman, Malaysia Perak Darul Ridzuan, Malaysia
T : +609 864 1188 T : +605 243 2988
F : +609 864 1688 F : +605 243 6988
Resorts World Langkawi Malaysia Johor Bahru *

Tanjung Malai, 07000 Langkawi 1F - Ground Floor
Kedah Darul Aman, Malaysia Jalan Maju, Taman Maju Jaya
T : +604 955 5111 80400 Johor Bahru
F : +604 955 5222 Johor Darul Takzim, Malaysia
T : +607 334 4555
Resorts World Casino New York City F : +607 334 4666
110-00 Rockaway Blvd.
Jamaica, NY 11420 Genting International Services Sdn Bhd ^*
United States of America 92, Jalan Sutera Tanjung 8/3
T : +1 888 888 8801 Taman Sutera Utama
81300 Skudai
Resorts World Bimini Johor Darul Takzim, Malaysia
North Bimini T : +607 554 9888
Commonwealth of the Bahamas F : +607 558 9733
T: +1 888 930 8688
Malaysia Kuching *
SALES & RESERVATIONS OFFICES No.2, Ground Floor, Block A
Wisma Nation Horizon
World Reservations Centre (WRC)~ Jalan Petanak, 93100 Kuching
17th Floor, Wisma Genting Sarawak, Malaysia
Jalan Sultan Ismail T : +6082 412 522
50250 Kuala Lumpur, Malaysia F : +6082 412 022
T : +603 2718 1118
F : +603 2718 1888 Malaysia Penang *
Reservations: No.22, Ground Floor, Lorong Abu Siti
[email protected] 10400 Penang, Malaysia
Membership: T : +604 228 2288
[email protected] F : +604 228 7299
Book online at www.rwgenting.com
* Sales Office # Representative Office ~ RWG ^ RWS

GROUP OFFICES
GENTING BERHAD
LEISURE & HOSPITALITY DIVISION Resorts World Tours Sdn Bhd

Resorts World OneHub
OTHER SERVICES Lower Ground Floor, Wisma Genting
Jalan Sultan Ismail
Casino De Genting 50250 Kuala Lumpur, Malaysia
Resorts World Genting T : +603 2333 6504 (MICE Division)
69000 Genting Highlands +603 2333 3214 (Airline ticketing)
Pahang Darul Makmur, Malaysia +603 2333 3254 (Outbound)
Membership hotline: +603 2333 6652 (Inbound)
T : +603 6105 2028 F : +603 2333 6707
Casino Programmes: E : [email protected]
T : +603 2718 1189
F : +603 2333 3888 Limousine Service Counter
(KLIA Sepang)
Casino Club Lot MTBAP S1
Resorts World Genting Arrival Hall, Level 3, Main Terminal Building
Genting Highlands Resort Kuala Lumpur International Airport
69000 Pahang Darul Makmur, Malaysia 64000 KLIA Sepang
T : +603 6105 9009 / 9388 Selangor, Malaysia
F : +603 6105 9388 T : +603 8776 6753 / 8787 4451
F : +603 8787 3873
Maxims
Resorts World Genting Limousine Service Counter
Genting Highlands Resort (Resorts World Genting)
69000 Pahang Darul Makmur 69000 Genting Highlands
Malaysia Pahang Darul Makmur, Malaysia
T : +603 2718 1199 T : +603 6105 9584
F : +603 6105 9399 F : +603 6105 9585
VIP Genting Transport Reservations Centre

Resorts World Genting (For buses and limousines)
Genting Highlands Resort Lot 1988
69000 Pahang Darul Makmur Jalan Segambut Tengah
Malaysia 51200 Kuala Lumpur, Malaysia
T : +603 2718 1188 T : +603 6251 8398 / 6253 1762
F : +603 2333 3888 F : +603 6251 8399
* Sales Office # Representative Office ~ RWG ^ RWS

GROUP OFFICES
GENTING BERHAD
OVERSEAS SALES / BRANCH / China Guangzhou

REPRESENTATIVE / Adriana Limited #
WORLDCARD OFFICES Unit No. 735, The Garden Tower
No. 368 Huan Shi Dong Road
Hong Kong Guangzhou 510064, China
Golden Site Limited * T : +86 20 8365 2980
GSHK Capital Limited ^ F : +86 20 8365 2981
Suite 1001, Ocean Centre
5 Canton Road, Tsimshatsui China Shanghai
Kowloon, Hong Kong S.A.R. Adriana Limited #
T : +852 2317 7133 / 2377 4680 Room 407, No. 318 Fuzhou Road
F : +852 2314 8724 Cross Tower
Shanghai 200001, China
Japan T : +86 21 6323 0638
Genting International Japan Co., Ltd F : +86 21 6323 0637
Marunouchi Eiraku Building 22F
1-4-1 Marunouchi Chiyoda-ku China Shanghai
Tokyo 100-0005 Japan Widuri Pelangi Sdn Bhd #
T : +81 3 6273 4066 Shanghai Representative Office
F : +81 3 6273 4067 RM 1609
Jintiandi International Mansion
Singapore 998 Renmin Road
Golden Site Pte Ltd * Huangpu District
9 Penang Road, #11-18 Park Mall Shanghai 200021, China
Singapore 238459 T : +86 21 6326 3866 / 3626
T : +65 6823 9888 F : +86 21 6326 3727
F : +65 6737 7260
Genting Rewards
India Genting WorldCard Services Sdn Bhd
Resorts World Travel Services Private Limited *# 12th Floor, Wisma Genting
B-003, Knox Plaza, Off Link Road Jalan Sultan Ismail
Chincholi Bunder, Malad West 50250 Kuala Lumpur, Malaysia
Mumbai 400064, India F : +603 2333 6611
E : [email protected]
China Beijing www.gentingrewards.com.my
Adriana Limited #
Room 1911, 19th Floor, Block B Resorts World Inc Pte Ltd
Beijing Focus Square 9 Penang Road
No. 6 Futong East Street #13-10 Park Mall
Chaoyang District Singapore 238459
Beijing 100102, China T : +65 6720 0888
T : +86 10 8591 1970 F : +65 6720 0866
F : +86 10 8591 1990 www.resortsworld.com
China Chengdu
Adriana Limited #
Level 18
The Office Tower Shangri-La Centre
No.9 Bin Jiang (East) Road
Chengdu 610021, China
T : +86 28 6606 5041
F : +86 28 6606 5042
* Sales Office # Representative Office ^ RWS

GROUP OFFICES
GENTING BERHAD
PLANTATION DIVISION Projek Bandar Pelancongan ENERGY DIVISION

Pantai Kijal
Regional Office KM 28, Jalan Kemaman-Dungun Malaysia
Genting Plantations Office, Sabah 24100 Kijal, Kemaman Genting Bio-Oil Sdn Bhd
Wisma Genting Plantations Terengganu, Malaysia c/o Genting Oil Mill Sdn Bhd
KM 12, Labuk Road T : +609 864 9261 Batu 54, Jalan Johor
90000 Sandakan F : +609 864 9260 86100 Ayer Hitam
Sabah, Malaysia Johor Darul Takzim, Malaysia
T : +089 672 787 / 672 767 Genting Cheng Perdana Sales Office T : +607 763 3312
F : +089 673 976 No. 32, Jalan Cheng Perdana 1/6 F : +607 763 3209
Desa Cheng Perdana 1, Cheng
PT Genting Plantations Nusantara 75250 Melaka, Malaysia China
DBS Tower 15th Floor T : +606 312 3548 Genting Power China Limited
Ciputra World 1 F : +606 312 3590 Room 1611, 16th Floor
JI. Prof. Dr. Satrio Kav. 3-5 Silver Tower, No 2 Dong San Huan Bei Lu
Jakarta 12940, Indonesia Genting Indahpura Sales Office Chaoyang District
T : +62 21 2988 7600 1213-1215, Jalan Kasturi 36/45 Beijing 100027, P.R. China
F : +62 21 2988 7601 Indahpura, 81000 Kulaijaya T : +86 10 8440 0908
Johor, Malaysia F : +86 10 8440 0907
PROPERTY DIVISION T : +607 662 4652
F : +607 662 4655 Fujian Pacific Electric Company Limited
Gentinggi Sdn Bhd Meizhou Wan Power Plant
Resorts Facilities Services Sdn Bhd Genting Pura Kencana Sales Office Talin Village, Dongpu Town
8A Floor, Wisma Genting No. 1, Jalan Sisiran Pura Kencana 1A/1 Xiuyu District, Putian City
Jalan Sultan Ismail Taman Pura Kencana Fujian 351153, P.R. China
50250 Kuala Lumpur, Malaysia 83300 Sri Gading T : +86 594 591 6880
T : +603 2333 3285 Batu Pahat F : +86 594 590 1930
F : +603 2164 7480 Johor, Malaysia
T : +607 455 8181 India
Property Sales F : +607 455 7171 Genting Lanco Power (India) Pvt Ltd.
- Awana Condominium Lanco Kondapalli Power Plant
- Ria Apartments BIOTECHNOLOGY DIVISION Kondapalli IDA, 521 228
- Kayangan Apartments Ibrahimpatnam Mandal
Enquiries: ACGT Sdn Bhd Krishna District, Andhra Pradesh, India
T : +603 2178 2233 / 2333 2233 Office & Laboratory T : +91 866 2872807 /
F : +603 2164 7480 L3-I-1 Enterprise 4 2872808 / 2871311
Technology Park Malaysia F : +91 866 2872806
Kijal Resort Sdn Bhd (Sales Office) Lebuhraya Puchong-Sg Besi, Bukit Jalil
- Angsana Apartments 57000 Kuala Lumpur, Malaysia Indonesia
- Baiduri Apartments T : +603 8996 9888 Genting Oil Kasuri Pte Ltd
8A Floor, Wisma Genting F : +603 8996 3388 DBS Bank Tower, 16th Floor
Jalan Sultan Ismail Ciputra World 1
50250 Kuala Lumpur, Malaysia The Gasoline TreeTM Experimental Jl. Prof. Dr Satrio Kav 3-5
T : +603 2178 2233 / 2333 2233 Research Station, Jatropha Division Jakarta 12940, Indonesia
F : +603 2164 7480 Jalan Kuarters-KLIA T : +62 21 2988 7700
43900 Sepang F : +62 21 2988 7701
Selangor
T : +6019 286 8856 PT. Lestari Banten Energi
Ciputra World 1, DBS Tower Lt. 16
Jl. Prof. Dr. Satrio Kav. 3-5
Jakarta 12940, Indonesia
T : +62 21 2988 7500
GROUP OFFICES
GENTING BERHAD
CORPORATE OFFICES Genting Singapore PLC Johor Premium Outlets

GENTING BERHAD - GROUP HEAD www.gentingsingapore.com www.premiumoutlets.com.my
OFFICE Head Ofce Jalan Premium Outlets
www.genting.com 10 Sentosa Gateway Indahpura
24th Floor, Wisma Genting Resorts World Sentosa 81000 Kulaijaya
Jalan Sultan Ismail Singapore 098270 Johor Darul Takzim, Malaysia
50250 Kuala Lumpur, Malaysia T : +65 6577 8888 T : +607 661 8888
T : +603 2178 2288 / 2333 2288 F : +65 6577 8890 F : +607 661 8810
F : +603 2161 5304
E : [email protected] Singapore BIOTECHNOLOGY DIVISION
Resorts World at Sentosa Pte Ltd ACGT Sdn Bhd
LEISURE & HOSPITALITY DIVISION www.rwsentosa.com Genting Green Tech Sdn Bhd
Genting Malaysia Berhad 8 Sentosa Gateway www.acgt.com
www.gentingmalaysia.com Resorts World Sentosa 25th Floor, Wisma Genting
Singapore 098269 Jalan Sultan Ismail
Resorts World Genting T : +65 6577 8888 50250 Kuala Lumpur, Malaysia
www.rwgenting.com F : +65 6577 8890 T : +603 2333 2288
F : +603 2161 3621
Resorts World Kijal Malaysia E : [email protected]
www.rwkijal.com Genting International Sdn Bhd
12th Floor, Wisma Genting ENERGY DIVISION
Resorts World Langkawi Jalan Sultan Ismail www.gentingenergy.com
www.rwlangkawi.com 50250 Kuala Lumpur, Malaysia
T : +603 2178 2288 / 2333 2288 Genting Power Holdings Limited
23rd Floor, Wisma Genting F : +603 2161 6368 22nd Floor, Wisma Genting
Jalan Sultan Ismail Jalan Sultan Ismail
50250 Kuala Lumpur, Malaysia Genting Hong Kong Limited 50250 Kuala Lumpur, Malaysia
T : +603 2178 2233 / 2333 2233 www.gentinghk.com T : +603 2178 2211 / 2333 2211
F : +603 2161 5304 Suite 1501, Ocean Centre F : +603 2162 4032
E : [email protected] 5 Canton Road, Tsimshatsui E : [email protected]
Kowloon, Hong Kong S.A.R.
Genting UK Plc T : +852 2378 2000 Genting Oil & Gas Limited
www.gentinguk.com F : +852 2314 3809 Genting Oil & Gas Sdn Bhd
Genting Club, Star City 22nd Floor, Wisma Genting
Watson Road, Birmingham PLANTATION DIVISION Jalan Sultan Ismail
B7 5SA, United Kingdom Genting Plantations Berhad 50250 Kuala Lumpur, Malaysia
T : +44 121 325 7760 www.gentingplantations.com T : +603 2178 2211 / 2333 2211
F : +44 121 325 7761 10th Floor, Wisma Genting F : +603 2163 5187
Jalan Sultan Ismail E : [email protected]
Genting New York, LLC 50250 Kuala Lumpur, Malaysia
www.rwnewyork.com T : +603 2178 2255 / 2333 2255
110-00 Rockaway Blvd. F : +603 2161 6149
Jamaica, NY 11420 E : [email protected]
United States of America
T : +1718 215 2828 PROPERTY DIVISION
F : +1646 588 1053 Genting Property Sdn Bhd
www.gentingplantations.com
Resorts World Bimini 3rd Floor, Wisma Genting
www.rwbimini.com Jalan Sultan Ismail
1501 Biscayne 50250 Kuala Lumpur, Malaysia
Suite 500 T : +603 2178 2255 / 2333 2255
Miami, FL 33132 F : +603 2164 1218
T : +1 305 374 6664 E : [email protected]
Resorts World Inc Pte Ltd

www.resortsworld.com
9 Penang Road
#13-10 Park Mall
Singapore 238459
T : +65 6720 0888
F : +65 6720 0866
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GENTING PREMIER BRANDS
GE NT I N G SEN T OSA M A N I LA N E W YORK MIAMI*

M ALAYSIA SI N GAPORE P H I LI P P I N E S USA USA
KIJA L LAN G K AWI J EJ U * L A S VE G A S * BI M I N I BI RM I N G H A M*

M A L A Y SIA M ALAY S I A KOREA USA BA H A M A S UK
* Co ming Soon
RE S O RT S WO RLD GEN T IN G, M A LA Y S IA
C lu b s , S u ite s , Pentho us es , H o tel s and Res i dences
GENTING UK
Genting Plantations Berhad Genting Property Sdn. Bhd. ACGT Sdn. Bhd. Genting Green Tech Sdn. Bhd.

2014

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GENTING BERHAD

ANNUAL REPORT 2014

Genting Berhad (7916-A)

T : +603 2178 2288 / 2333 2288

T : +603 2178 2288 / 2333 2288

Every instinct in the human being was made for

Genting Group stands on a mountain of hard-won

Heres to 50 years of passion. And countless more years

Relive the Genting journey at www.genting50.com

WHAT DO YOU SEE? Celebrating Gentings 50th anniversary 2015

Be responsive to the changing demands of our

Be committed to innovation and the adoption of

Generate a fair return to our shareholders.

Pursue personnel policies which recognise and

Be a responsible corporate citizen, committed to

PROFILE established Resorts World branded properties in Malaysia, Singapore, the

Chairmans Statement / Penyata Pengerusi / 2 Financial Statements:

Dear Fellow Shareholders,

It gives me great pleasure to inform you

On behalf of the Board of Directors, I am pleased to report that

We will continue to work diligently to fortify Gentings

Resorts World Sentosa, the first integrated resort to operate

2 GENTING BERHAD Annual Report 2014

GENTING BERHAD Annual Report 2014 3

TAN SRI LIM KOK THAY

4 GENTING BERHAD Annual Report 2014

Para Pemegang Saham,

GENTING BERHAD Annual Report 2014 5

6 GENTING BERHAD Annual Report 2014

Kumpulan Genting mempunyai lebih 60,000 kakitangan di

Menjelang sambutan ulangtahun penubuhan Kumpulan

GENTING BERHAD Annual Report 2014 7

8 GENTING BERHAD Annual Report 2014

GENTING BERHAD Annual Report 2014 9

AUDIT COMMITTEE NOMINATION COMMITTEE

DATO PADUKA NIK HASHIM DATO PADUKA NIK HASHIM

DATUK CHIN KWAI YOONG

10 GENTING BERHAD Annual Report 2014

DATO PADUKA NIK HASHIM TAN SRI LIM KOK THAY

GENTING BERHAD Annual Report 2014 11

TAN SRI LIM KOK THAY

12 GENTING BERHAD Annual Report 2014

TUN MOHAMMED HANIF BIN OMAR MR LIM KEONG HUI

GENTING BERHAD Annual Report 2014 13

14 GENTING BERHAD Annual Report 2014

Dr. Lin is a trustee of Tun Ismail Ali Foundation (PNB),

GENTING BERHAD Annual Report 2014 15

PRINCIPAL EXECUTIVE OFFICERS

TAN SRI LIM KOK THAY MR CHONG KIN LEONG

TUN MOHAMMED HANIF BIN OMAR MR ONG TIONG SOON

MR LIM KEONG HUI MS GOH LEE SIAN

GENTING BERHAD AUDITORS

16 GENTING BERHAD Annual Report 2014

53.6% Genting Plantations Berhad*

53.6% Genting Property Sdn Bhd#

100% Genting Power Holdings Limited

100% Genting Assets, INC

* Listed on Bursa Malaysia Securities Berhad.

17.04.2014 (a) Consolidated Unaudited Results of the Group for the

*Upon approval of shareholders at the Forty-Seventh Annual General Meeting.