Malaysia's Genting says Q4 net profit drops

KUALA LUMPUR, Feb 26 (Reuters) - Malaysian conglomerate Genting Bhd posted on Thursday a 43.4 percent drop in fourth-quarter profit, mainly hurt by a loss on derivative financial instruments and an impairment charge.

Group net profit for October-December dropped to 273.84 million ringgit ($76.45 million) from 483.83 million ringgit in the same period a year earlier.

Revenue climbed 4.9 percent to 4.6 billion ringgit.

Genting, a plantations-to-gaming conglomerate controlled by Malaysian billionaire Lim Kok Thay, has been expanding its gaming and hospitality businesses overseas but recently said it failed in a bid to secure gaming licences in New York.

The group did, however, win one indirectly through Lim's privately held company.

Genting controls Genting Singapore Plc, which reported on Tuesday net profit fell 30 percent in the fourth quarter, hurt by a poor performance in its business from high rollers

Net profit from Genting's plantations unit rose 31 percent to 137.67 million ringgit, boosted by increased fresh fruit production.

Shares in Genting closed up 1.24 percent at 8.98 ringgit prior to the earnings release. The stock has fallen 12 percent over the past year, underperforming the benchmark index's 0.98 percent decline.

For the full stock exchange filing, please click: http://bit.ly/1wirTkX

($1 = 3.5820 ringgit) (Reporting by Yantoultra Ngui; Additonal Reporting by Shilpa Murthy in BENGALURU; Editing by Mark Potter)