30/08/2012 (Reuters) - Malaysia's Genting Bhd , a gaming-to-property conglomerate, said net profit fell 20.6 percent in the second quarter on lower contributions from its Singapore gaming unit and palm oil business.

"The global economy looks increasingly unfavourable," Genting said in a statement on Wednesday.

The company said its Singapore gaming unit, Resorts World Sentosa, would see a similar narrowing of its earnings before interest, tax, depreciation and amortisation (EBITDA) in the coming months as it experienced in the second quarter, as its Marine Life Park geared up for launch.

Genting said its palm oil business would also continue to be hit by rising costs of fertiliser, fuel and labour.

The company said it would pay a gross interim dividend of 3.5 sen a share, a stock exchange filing showed on Wednesday.

Genting's net profit was 534.5 million ringgit ($171.56 million) in the three months ended June 30. The company's revenue climbed marginally to 4.51 billion ringgit from 4.46 billion ringgit last year.

Net profit for the six months ended June 30 dropped 17.9 percent to 1.23 billion ringgit, making up 41.3 percent of the 2.98 billion ringgit full-year profit estimate of analysts tracked by Thomson Reuters I/B/E/S.

Of the 25 analysts, 19 have either a "strong buy" or "buy" rating on Genting, while five have "hold" calls and one "sell".

Genting said earlier this month it was selling its power and utility unit to Malaysian state development firm 1Malaysia Development Bhd (1MDB) for 2.3 billion ringgit in cash.

The sale will result a one-off net gain of 1.9 billion ringgit, contributing to an increase of 52 sen in its consolidated earnings per share and net assets per share for this year.

Shares closed 1.31 percent lower at 9.02 ringgit, compared with the broader market's 0.09 percent drop. ($1 = 3.1155 Malaysian ringgit)