Last call for announcement for Q3 result 8pm, 730pm only come out, almost last one among all

10mil + paper loses

275mil Q3 loses

EBITDA, for GenM improves by 91%

1.9 bil impairments loses of genM

Big loses, greatest hole ever

Big losses

Recap
rumors saying genting theme park has some problems with 20th FOX, maybe not using 20thFOX name. Maybe announcement make by this few day.
10/11/2018 10:49
https://www.hollywoodreporter.com/thr-esq/fox-disney-hit-175-billion-suit-backing-away-malaysian-theme-park-deal-1163900?utm_source=twitter&utm_source=t.co&utm_medium=referral&utm_source=t.co&utm_medium=referral

Government almost take half of it profit, since introduced gst, change name to SST, and 50% hiking in gaming tax

Since the tax is so high, 6 bil revenue, tax 35%+6%=41%, so 24.6, 1.4bil profit tax take another 0.4bil, genting take 1bil. Government take 3 bil, previously half half, 6bil tax 25% not gst, take 1.5bil, income tax take another 0.6-0.7 bil, genting take1.8bil, governments take 2.2bil , fair enough

Genting Malaysia seen, is no going to invest in Malaysia in next 10-15 years

Or genting don’t want to pay extra to FOX, saving some money since profits margins will drop significantly by 30%, reduce investment as much as they can

rumors saying genting theme park has some problems with 20th FOX, maybe not using 20thFOX name. Maybe announcement make by this few day.

https://gentingsingaporeplc.gcs-web.com/static-files/c5bbe83e-ec0e-4794-83f0-8ebfc240e773

Genting Sing post 3Q2018 result come in-line within expectation. With S$210mil after that profit, a slightly increase of impairment loses of 13mil, from first and second quarter.

i’am holiday in Europe now, up side down of my comments timing

A bit comfortable using this ID

Hi I get back my ID

https://m.youtube.com/watch?v=z8hz_DA7A4A

Take 50% of net profit away

Cheating, Dirty, black box operating,

Another 300mil+ extraordinarily item losee, 206mil loses on assets at FVTPL, 33mil impairments lose, 66 mil others

560-600mil Q2 net profit are expected for tomorrow release of Q2 results

Bad Q2 results for Gent plantation

Free float of genting wa around 195mil share,

https://news3lv.com/news/local/no-longer-under-the-radar-resorts-world-is-underway

Expecting 600-650mil in net profit

Resorts world Las vegas is well progress, is now 24th and 26 th floor high. https://www.reviewjournal.com/business/casinos-gaming/resorts-world-on-target-for-opening-by-end-of-2020/

https://www.thestar.com.my/business/business-news/2018/08/06/affin-hwang-maintains-buy-in-genting-as-singapore-unit-delivers-positive-results/

Oub
http://www.enanyang.my/news/20180629/零消费税激励-博彩股复苏在望/

HL BANK
http://www.enanyang.my/news/20180627/杜绝裙带-税收改革-新政策利长线投资

Credit suisse
https://www.thestar.com.my/business/business-news/2018/06/27/malaysian-stocks-available-at-compelling-valuations-rising/

Cimb
https://www.thestar.com.my/business/business-news/2018/07/03/cimb-research-lowers-klci-target-for-2018-to-1675/

Kenaga
https://www.thestar.com.my/business/business-news/2018/07/04/tax-holiday-offers-boost-to-gaming-sector/

Maybank
http://www.theedgemarkets.com/article/maybank-ib-research-lowers-end2018-fbm-klci-target

Rakuten
https://www.thestar.com.my/business/business-news/2018/07/06/rakuten-outlook-remains-positive/

Rakuten Trade top pick. — GENTING,KLK, TM. MAYBANK
maybank IB top pick. — GENTING, INARI, AMMB, ABMB, YINSON, BAUTO, AEON
kenaga top pick. — GENTING, MAYBANK, DIALOG, DIGI, BAT
CIMB to pick — GENTING, DIALOG, WESTPORT
CREDIT SUISSE Top pick— GENTING, GENM, AIRASIA, CIMB, MAHSING
MIDF top pick — GENTING AIRASIA

Seen foreign selling pressures is easing

1bil and 500 mil Total Usd1.5bil

10year USD Bond listed in hong kong 4.25% by genting oversea holding berhad, GOHL

seen foreign selling easing this week ,

Now foreign fund draws money out and RmB depreciation, trade war, and rising interest rate by feb and new government are main reasons

1.5 billion Usd loan will cost 63.75mil usd interest per year, Rm 5% depreciation , will cost 12mil per year, or 3 mil per quarter, is one hair for genting only.

Regarding to question, why genting dont hedge against Usd, first genting does like others companies who has net liabilities in usd, but the others way around, Genting has too much net USD or foreign assets, Genting actually hegde against RM by borrowing Usd, recently had borrowed 1.5bil in Usd to avoid too many net Usd assets, since Genting has more then 65% of assets outside Malaysia, that generating profit and very strong cash flow every year in foreign exchange, Genting just simply keep it for futures investment, so when Ringgit strong Genting will face loss in foreign exchange

Excluding that should be around 800mil, In net

2018Q1 net profit restored abit to 602mil, but still with 160mil lose in foreign exchange and 41 mil impairment lose.

Consider this, it take 85% of the net profit away, 2 consecutive quarters

All this is due to Q3 and Q4 2017 quarter results are too too too bad, with 675mil impairment loses and foreign exchange lose of more then 400mil, it drag net profit for Q3 and Q4 2017 by almost 500mil each quarte, to 100+mil only (2 consecutive quarters), confidence still not yet restored, including myself, worry another big impairment item bring in, foreign exchane loses shall be in favor now since 4.00level now.

Consider 2Q2018 net profit of 850mil, it make 1H2018, 1450mil or 37.5sen, mean full years 75sen or more (normally stronger for second half), 8.50/0.75=11.3x, or 8.50/0.8=10.6x... and some more this is not 12months forward, this is current years forcast,

Recent low was 2016 sept 12m forward 13.5x PE and 2017 Oct 14x PE, now 12x