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Genting SP Next Move
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samivenkatesan
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18-Aug-2014 16:14
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VISIT THIS SITE TO GET FREE STOCK ADVICE STRAITSTIMESFREESHARETIPS |
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AwakenTide
Veteran |
18-Aug-2014 16:10
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High chance can buy 1.18, watching closely now :) |
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happyharvest
Elite |
18-Aug-2014 16:07
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Ppl kan jiong selling down | ||||
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i_love_girls
Veteran |
18-Aug-2014 11:36
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Just be a man, boy Genting! Break you voice! |
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tianji
Veteran |
18-Aug-2014 10:53
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you very chun ya......now testing the support of 1.25.......cannot break else going down to $1 SOON
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AwakenTide
Veteran |
18-Aug-2014 10:29
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I have lots of patience to wait for further pull down at 1.18, but i dont have same patience to this draggy and hanging manner without clear direction. |
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machineoperator
Member |
18-Aug-2014 10:02
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Since it fell below my stop loss... I am off this counter for now. Happy investing for those who are still clinging on to this counter. Is still a good cash generating company but for now prefer to step aside and let the dust settle down.... Keep updating the good news or interesting news though.... waiting to jump back in. |
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happyharvest
Elite |
17-Aug-2014 17:32
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Genting can buy now or wait $1 to buy? buy or bye? 2Q14: Underlying numbers in line Buy GGR up 15% y-y impairment a concern but likely one-off awaiting start of works in Jeju Action: Maintain Buy 2Q14 GGR +15% y-y vs. MBS&rsquo s +1% y-y GENS posted steady 2Q14 results, where key highlights were 1) total VIP + mass GGR for GENS up 15% y-y (vs. competitor Marina Bay Sands&rsquo (unlisted) +1% y-y growth) 2) a fourth straight quarter of higher VIP roll than MBS, with receivables flat q-q, which was able to offset a decline in mass play (due to a strong SGD deterring tourists) and 3) a record impairment provision of ~SGD80mn, which management guided was a one-off taken in view of the deteriorating macro situation in its key markets like China. Excluding unrealised FX items, 1H14 underlying earnings were in line (58%/51% of our estimates/consensus). While management remains cautious about the next 12-month period, we think the Street should view these results as a reaffirmation of GENS&rsquo s ability to grow volume. We cut our FY14F/15F adjusted EBITDA estimates marginally by 5%/ 5% to build in higher provisions, weaker mass volume and a maturing SEA Aquarium. However, we reiterate our Buy with a slightly lower TP of SGD1.52 (19% upside potential), as we are positive on the company&rsquo s overseas expansion projects. Valuation: Singapore still valued at 12.5x EV/EBITDA, slightly above its historical average We continue to value GENS&rsquo Singapore operation at ~12.5x adjusted EV/EBITDA, rolled forward to FY15F, which is slightly above its historical average. We value GENS&rsquo 50% equity stake in the Jeju project at ~SGD1bn. Catalyst: Further upside possible on more overseas expansion Near-term catalysts should be the start of construction work at RW Jeju by early 2015, and the opening of the 500-room Jurong Lake hotel in 2Q15. Further, GENS is looking to bid for an IR project in Japan, should Japan legislate gambling. If GENS is successful in its bid (to be known after 2015- 16), the stock might see a further round of re-rating, in our view. |
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stevenk
Senior |
17-Aug-2014 14:26
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happyharvest
Elite |
17-Aug-2014 01:52
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CIMB Genting Singapore - Hit by additional provisioning 2Q14 core earnings were slightly below our forecast, with 1H14 cumulative core net profit accounting for 48% of our full-year forecast and 52% of consensus. There was S$81.5m in bad debt provisioning during the quarter compared to the usual run rate of S$30m-40m. We were told that the additional provisioning is one-off and in response to the current macro environment. We, therefore, anticipate a better second half with the normalising of the provisioning rate. We maintain our EPS forecasts and our RNAV-based target price is unchanged. Key catalysts remain the rollout of the investment in Jeju IR and opportunities in Japan. Maintain Add |
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enjoylife77
Veteran |
17-Aug-2014 01:32
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Thats the credit risk mgt have to take for in-house premiem player. If more junket allow, the credit risk is passed to them as they earn a commission, thus shielded from bad debt. SImply put, junket guarantee payment. |
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Kyoto2008
Elite |
16-Aug-2014 23:43
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Must see how' s their management. I read in ST they have like 80mln bad loans, so how come this is allowed? Is there some kind of control on who they give credit to? This to me is the main concern. Share price goes up and down, but if the mgt is screwed, shareholders take the fall. We need to know what we are buying, not just plunge in because it' s cheap. Coz it can go cheaper and cheaper until one day it is worth nothing. |
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happyharvest
Elite |
16-Aug-2014 18:14
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You mean bye?
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i_love_girls
Veteran |
16-Aug-2014 15:39
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Not bad lah can buy | ||||
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happyharvest
Elite |
16-Aug 15:19
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I think the only catalyst left is their expansion plan in Japan and South Korea. Anyone has any news on what is going onn there? |
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enjoylife77
Veteran |
15-Aug-2014 17:07
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Anyone bought? |
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LOVEYOURSELF
Member |
15-Aug-2014 10:51
Yells: "Love Yourself and Be Kind To Others" |
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now that Q2 results are out.....the company made less PROFITS....its so so performances in Q2 should be in its share price.........but the company year-to-date profits still increased....... casinos and theme parks are somewhat " seasonal" businesses.....may not be very accurate to assess the company quarterly.......the year-to-date performances would be better indicators.... anyway, the company/mgt team seems rather " active" .......going forward can be very interesting and exciting especially with their soon-up jurong hotel, activities in korea and possible entry into japan..... just my own opinions.....happy weekend......cheers..... |
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machineoperator
Member |
15-Aug-2014 10:42
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Might stabilize at 1.265 . Earnings still impressive for large cap company anyway. |
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xioncalibrat
Member |
15-Aug-2014 09:45
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seems that the recent selldown from 1.33 to 1.27-1.28 zone already price in result. Possibily some insider movement. Today movement is probably just minor adjustment.
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AwakenTide
Veteran |
15-Aug 09:28
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Today seems like a minor sell-down, I' m waiting to buy $1.18 or once the price is rather stabilized.. |
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