Genting Singapore names its new president/COO
Summary
Genting Singapore has appointed Lee Shi Ruh — previously CFO and recently CEO of Resorts World Sentosa (RWS) — as its new president and chief operating officer, effective Friday. Ang Suat Ching will replace Lee as CFO of Genting Singapore while continuing as CFO of RWS. The moves form part of a leadership renewal as the group seeks to steer through a period of softer results and deliver on a major expansion project at RWS.
Source
Key Points
- • Lee Shi Ruh promoted to president and COO of Genting Singapore after roles including CFO and CEO of Resorts World Sentosa.
- • Ang Suat Ching named Genting Singapore CFO while retaining her role as CFO of RWS.
- • The president/COO role had been vacant for more than three years; Lee will report to executive chairman and acting CEO Tan Sri Lim Kok Thay.
- • Genting Singapore reported Q1 adjusted EBITDA of S$236m, down 36% year‑on‑year, with hotel occupancy dropping sharply due to weaker tourist arrivals and VIP demand.
- • The Singapore Gambling Regulatory Authority granted RWS a two‑year licence renewal citing unsatisfactory performance from 2021–23.
- • RWS 2.0, a S$6.8bn expansion including two luxury hotels, Minion Land and the Singapore Oceanarium, aims to boost visitor numbers; Weave and other attractions roll out through H2 2025 and the full project completes by 2030.
- • DBS retains a “buy” on Genting Singapore, expecting EBITDA margins to improve sequentially in the second half of 2025 as new attractions draw visitors.
Content summary
Lee Shi Ruh, a Genting veteran who joined in 2010, steps into the president and COO role to lead execution of strategic initiatives, operational performance and sustainable growth across the group. The appointment coincides with Ang Suat Ching’s elevation to group CFO. Leadership changes are positioned as part of renewal as Genting tackles recent soft results.
Genting Singapore’s first‑quarter performance was hit by weaker non‑gaming revenue and softer VIP demand. Regulatory scrutiny and a shorter licence renewal highlighted challenges since the Covid recovery. Management is pinning hopes on the ambitious RWS 2.0 expansion — including new attractions that began opening in mid‑2025 — to drive a recovery in visitor flows and margins through the second half of the year.
Context and relevance
This appointment matters to investors, suppliers and partners because it signals internal talent retention rather than an external leadership search, and it places an experienced operator at the helm as the group executes one of Singapore’s largest resort expansions. The change comes at a delicate moment: subdued near‑term trading, regulatory scrutiny and high capital investment make execution and financial discipline key to Genting’s next phase.
Why should I read this?
Quick take: if you follow Singapore integrated resorts, hospitality investments or Genting’s stock, this is worth a minute. A trusted insider now runs operations just as a huge S$6.8bn expansion and licence scrutiny collide with softer earnings — so who runs things, and how they manage the rollout, will shape Genting Singapore’s comeback (and its share price) over the next few years.