2009 ANNUAL REPORT GENTING MALAYSIA BERHAD(58019-U) (formerly known as Resorts World Bhd) Genting Malaysia Berhad (58019-U) (formerly known as Resorts World Bhd) 24th Floor, Wisma Genting Jalan Sultan Ismail 50250 Kuala Lumpur, Malaysia T : +603 2178 2288 / 2333 2288 F : +603 2161 5304 www.gentingmalaysia.com www.rwgenting.com GENTING MALAYSIA BERHAD (formerly known as Resorts World Bhd) To be the leading Leisure, Hospitality and Entertainment Corporation in the world. OUR MISSION We will: 1. Be responsive to the changing demands of our customers and excel in providing quality products and services. 2. Be committed to innovation and the adoption of new technology to achieve competitive advantage. 3. Generate a fair return to our shareholders. 4. Pursue personnel policies which recognise and reward performance and contributions of employees and provide proper training, development and opportunities for career advancement. 5. Be a responsible corporate citizen, committed to enhancing corporate governance and transparency. CONTENTS Genting Malaysia Berhad Annual Report 2009 1 CORPORATE PROFILE www.gentingmalaysia.com www.rwgenting.com Genting Malaysia Berhad (“GENM”) (formerly known as Resorts 2,000 metres (6,000 feet) above sea level, the Resort has six hotels World Bhd) is one of the world’s leading companies in the leisure and with approximately 10,000 rooms, numerous food and beverage hospitality industry, with strong financial background and experienced outlets, retail outlets, fun rides, attractions, MICE facilities, mega management. The contributions of GENM and its sister companies are shows and endless entertainment. First World Hotel is one of the paramount to the success of the Genting Group, headed by Genting world’s largest hotels, with 6,118 rooms. Berhad, as one of Asia’s leading multinational group of corporations. GENM also owns and operates the Awana chain of hotels and resorts, GENM’s crown jewel is Resorts World Genting, which has been voted which comprise Awana Genting Highlands Golf & Country Resort, the World’s Leading Casino Resort (2005, 2007 to 2009) and Asia’s Awana Kijal Golf, Beach & Spa Resort and Awana Porto Malai, Leading Casino Resort (2005 to 2009) by World Travel Awards. At Langkawi. 2 Genting Malaysia Berhad Annual Report 2009 bringing you the best in... accommodation • dining pleasure • theme parks & attractions • gaming experience international shows • meetings & conventions • spa & relaxation • leisure cruising Genting Malaysia Berhad Annual Report 2009 3 GENTING PREMIER BRANDS CLUBS, SUITES, PENTHOUSE AND RESIDENCES RESORTS WORLD GENTING MALAYSIA INTEGRATED RESORT RESORTS WORLD SENTOSA SINGAPORE GENTING UK CASINO CLUBS LONDON UNITED KINGDOM 4 Genting Malaysia Berhad Annual Report 2009 CORPORATE DIARY 2009 25 February 25 November Announcement of the Consolidated Unaudited Results of the Group Announcement of the resignation of Tan Sri Wan Sidek bin Hj Wan for the fourth quarter and the Audited Results for the financial year Abdul Rahman as an Independent Non-Executive Director of the ended 31 December 2008. Company and member of the Audit Committee with effect from 1 December 2009. 7 April Announcement of the proposed renewal of the authority for the 26 November Company to purchase its own shares and proposed exemption under Announcement of the Consolidated Unaudited Results of the Group Practice Note 2.9.10 of the Malaysian Code on Take-Overs and for the third quarter ended 30 September 2009. Mergers, 1998. 8 December 12 May Announcement of the proposed acquisitions by the Company of the Announcement of the following: entire issued and paid-up share capital of Oakwood Sdn Bhd and (a) Entitlement Date for the Proposed Final Dividend in respect of the Genting Highlands Tours and Promotion Sdn Bhd, both wholly-owned financial year ended 31 December 2008. subsidiaries of Genting Berhad, a company which owns 48.6% equity (b) Twenty-Ninth Annual General Meeting. interest in the Company for a cash consideration of RM212,709,548 (c) Proposed shareholders’ mandate for recurrent related party and RM15,935,411 respectively (“Proposed Acquisitions”). transactions of a revenue or trading nature. (d) Proposed change of name from Resorts World Bhd to Genting 11 December Malaysia Berhad. Announcement of the completion of the Proposed Acquisitions. 20 May 2010 Announcement of the subscription by Resorts World Limited (“RWL”), an indirect wholly-owned subsidiary of the Company, of a total of 25 February US$50 million (approximately RM176 million) nominal amount of senior Announcement of the following: secured notes due 2014 and 2017 issued by MGM Mirage, Inc. (a) Consolidated Unaudited Results of the Group for the fourth quarter and the Audited Results for the financial year ended 31 25 May December 2009. Notice to Shareholders of the Twenty-Ninth Annual General Meeting. (b) Appointment of Mr Teo Eng Siong as an Independent Non- Executive Director of the Company. 27 May Announcement of the Consolidated Unaudited Results of the Group 17 March for the first quarter ended 31 March 2009. Announcement of the subscription by RWL of a total of US$18 million (approximately RM60 million) nominal amount of 9% senior secured 16 June notes due 2020 issued by MGM Mirage, Inc. Twenty-Ninth Annual General Meeting. 5 April 19 June Announcement of the proposed renewal of the authority for the Announcement of the change of name of the Company from Resorts Company to purchase its own shares and proposed exemption under World Bhd to Genting Malaysia Berhad with effect from 18 June Practice Note 2.9.10 of the Malaysian Code on Take-Overs and 2009. Mergers, 1998. 1 July 23 April Announcement of the re-designation of Tan Sri Alwi Jantan as a Announcement of the subscription by RWL of a total of US$48 million Non-Independent Non-Executive Director of the Company upon his (approximately RM153.4 million) nominal amount of 4.25% convertible retirement as an Executive Director with effect from 1 July 2009. senior notes due 2015 issued by MGM Mirage, Inc. 26 August 3 May Announcement of the following: Announcement of the proposed shareholders’ mandate for recurrent (a) Consolidated Unaudited Results of the Group for the second related party transactions of a revenue or trading nature. quarter ended 30 June 2009. (b) Entitlement Date for the Interim Dividend in respect of the half 5 May year ended 30 June 2009. Announcement of the following: (a) Entitlement Date for the Proposed Final Dividend in respect of the 21 October financial year ended 31 December 2009. Announcement of the subscription by RWL of a total of US$15 million (b) Thirtieth Annual General Meeting. (approximately RM50.51 million) nominal amount of First Mortgage (c) Proposed amendments to the Articles of Association of the Notes due 2017 issued by Wynn Las Vegas, LLC and Wynn Las Vegas Company. Capital Corp. (d) Proposed retirement gratuity payment to Tan Sri Wan Sidek bin Hj Wan Abdul Rahman. DIVIDENDS Announcement Entitlement Date Payment 2008 Final - 4.0 sen less tax per ordinary share of 10 sen each 25 February 2009 30 June 2009 21 July 2009 2009 Interim - 3.0 sen less tax per ordinary share of 10 sen each 26 August 2009 30 September 2009 21 October 2009 2009 Proposed Final - 4.3 sen less tax per ordinary share of 10 sen each 25 February 2010 30 June 2010 21 July 2010* * Upon approval of Shareholders at the Thirtieth Annual General Meeting Genting Malaysia Berhad Annual Report 2009 5 CORPORATE INFORMATION BOARD OF DIRECTORS Tan Sri Lim Kok Thay Chairman and Chief Executive Tun Mohammed Hanif bin Omar Deputy Chairman Tan Sri Alwi Jantan Non-Independent Non-Executive Director Mr Quah Chek Tin Independent Non-Executive Director Tan Sri Dr. Lin See Yan Independent Non-Executive Director Tan Sri Clifford Francis Herbert Independent Non-Executive Director General (R) Tan Sri Mohd Zahidi bin Hj Zainuddin Independent Non-Executive Director Mr Teo Eng Siong Independent Non-Executive Director AUDIT COMMITTEE PRINCIPAL EXECUTIVE OFFICERS Tan Sri Clifford Francis Herbert Tan Sri Lim Kok Thay Chairman/Independent Non-Executive Director Chairman and Chief Executive Tan Sri Dr. Lin See Yan Tun Mohammed Hanif bin Omar Member/Independent Non-Executive Director Deputy Chairman Mr Quah Chek Tin Dato’ Lee Choong Yan Member/Independent Non-Executive Director President and Chief Operating Officer NOMINATION COMMITTEE Mr Kevin Sim Kia Ju Executive Vice President - Resorts Operations Mr Quah Chek Tin Chairman/Independent Non-Executive Director Ms Koh Poy Yong Chief Financial Officer Tan Sri Clifford Francis Herbert Member/Independent Non-Executive Director Mr Leow Beng Hooi Senior Vice President - Casino Marketing Tan Sri Dr. Lin See Yan Member/Independent Non-Executive Director Mr Lim Eng Ming Senior Vice President - Casino & Security Operations REMUNERATION COMMITTEE Mr Edward Arthur Holloway Senior Vice President - Hotel Operations Tan Sri Dr. Lin See Yan Chairman/Independent Non-Executive Director Mr Paul Chan Meng Yeong Senior Vice President - Sales & Marketing Tan Sri Clifford Francis Herbert Member/Independent Non-Executive Director Mr Charles Chow Chon Jin Senior Vice President - Human Resources Tan Sri Lim Kok Thay Member/Chairman and Chief Executive Mr Ng Say Beng Senior Vice President - Finance SECRETARY Ms Loh Bee Hong GENTING MALAYSIA BERHAD (FORMERLY KNOWN AS STOCK EXCHANGE LISTING RESORTS WORLD BHD) Main Market of Bursa Malaysia Securities Berhad A public limited liability company (Listed on 22 December 1989) Incorporated and domiciled in Malaysia Company no. 58019-U