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RESORTS WORLD LAS VEGAS SELECTS CONSTRUCTION MANAGER AND AWARDS MORE THAN $400 MILLION IN CONTRACTS
October 16, 2017 W.A. Richardson Builders to Manage Construction of Genting Group’sW.A. Richardson Builders to Manage Construction of Genting Group’sMulti-Billion Dollar Las Vegas Resort

Las Vegas, NV – Resorts World Las Vegas (RWLV) today announced the selection of W.A. Richardson Builders, LLC (WARB) as Construction Manager for the first, ground-up, integrated resort development on the Las Vegas Strip in a decade. WARB will manage all aspects of construction on the 87-acre site, previously the location of the former Boyd Gaming “Echelon” site and Stardust. Las Vegas, NV – Resorts World Las Vegas (RWLV) today announced the selection of W.A. Richardson Builders, LLC (WARB) as Construction Manager for the first, ground-up, integrated resort development on the Las Vegas Strip in a decade. WARB will manage all aspects of construction on the 87-acre site, previously the location of the former Boyd Gaming “Echelon” site and Stardust.

In Malaysia, genting as always, no response

Genting singapore up by 4.5sen

Major catalyst summary

GenS-
----------------------------------
1) Early redemption of its S$1.8billion and S$500million 5.125% Perpetual Subordinated Capital Securities on 12 September 2017 and 18 October 2017 respectively will save S$75-80 million annually and attributes Rm120 million save to Genting annually.

2)Lower operating cost and impaired lose, soft recovery in business volume, expected better winning rate, weakened Ringgit and potentially of winning bid the Japanese casino by 2018, which will re-rate EV/EBITDA to 12.5-13x from current 10x (remarks, GenS currently trades at -1SD of its average EV/EBITDA of 10.2x and 30% discount from industry mean of 12.5x) target price 1.3-1.35

GenM-
-------------------------------------
1) Genting Integrated Tourism Plan(GITP)
1a) 450 deluxe rooms in theme park hotel been opened by Aug, increase hotel room inventories by 4%, could boost overnight visitors/addition tourists by 270k annually.
1b) Additional 250 gaming tables (from 550 to 800/ 40% increased ) and additional 2000+slot machines (expected) by end 2017. Whole sky avenue casino to be opened and fully attribute profits by Q42017. Noted 3rd and 4th flood sky avenue VIP operated by 30sept.
1c) Indoor theme park expanded to be completed 2H2018
1d) 20th Fox century theme 2Q2018 to be open, expected to attract 400 million per year, in/out door theme park ticket price targeted around Rm220-250, could generate additional Rm850 million to Rm1 billion in revenue and Rm350-400million in net profit starting 2H2018.

2) Usd400million expansion Resorts World Casino New York City, include a 400-rooms hotel, dining outlets, retails and new gaming areas. (Remarks, RWNYC had gaming revenue of $826.5 million, 13 % more than Atlantic City’s biggest casino by MGM and 26 % more than the casino Wynn Resorts Ltd.’s flagship Las Vegas property.)

3) The Mashpee Wampanoag tribe for casino, is being delayed by a legal challenge and GenM may write off the whole sum or part of $347.4 million company invested in promissory notes issued by the tribe. (Risk)

4) Fovourable foreign exchange, positive to US and UK operation and lower loss for Bimini operation.

Negative--increase depreciation exp by 70m/quarter, opening exp by 30m

Gent Plantation-
------------------------------------------------
1) 8% increase in FFB in Q32017 compare q2 and recent increase in CPO price (rm2750 and above)
2) Genting premium Outlet operations

Genting (Direct interest)
----------------------------
1) licensing and management fees charge to GenM expected to increase from Rm600 to Rm650 and Rm700 million by 2018 and 2019
2) licensing and intellectual property in US and Bahamad to increase from Rm75m to Rm83 and Rm92 million by 2018 and 2019
3) Indonesia Banten 660mw power plant and Meizhou Wan phase II, 2x1000mw , will contribute about addition 200-250 million in profit 2018
4) Asap-Kido -Merah Kasuri Gas 285 (mmscfd) production development approval by 1H2018. Further releases unlisted assests value.(currently 50-70% discount by brokerages firm)
5) NEGATIVE, 60-80mil increase in interest expenses and 80 decline in interest income short by 130mil each quarter to finance LVRW and GITP.

Other-landmark
-----------
Dispose 20% stake in MSL for Rm87.38 millions by Landmark, will have better position in Bintan resorts development.

Mei Zhou wan II will start seeing 30% utilization in Q3. Expect to see 70% and 80-85% in Q4 2017 and Q1 2018, on the others hand mei zhou wan I see utilization rate increase by 20%

Update, china power plant mei zhou wan I, II had facing profit margin decline due to coal price and decline in electricity price(supply of hydroelectric increase), trend to continue is expected until Q4. Recovery is expected in 2018

Genting sing expect release q3 report by 6 nov after market

Marina sand singapore announced Q3 2017, revenue up by6.3%, bottom profit up by 13%, expect to see similar trend for genting sing

Genting, MeiZhou Wan II 2x1000MW plant are ready to operate http://www.sdic-mzwpc.com/xwzx/gsxw/20170914/768600001.shtml

By now, only have 645m genting wa, tan sri lim family hold 424m, balance 211m, minus 50% institutions going for conventions and continue to hold, anout 100m free for abbreviation

Disappointed genm Q2 for bottoms line,

Report out today after 5pm, should have conclusion then

peak season in next few days for Q2 report, lots of reading

Gt welcome on broad

Genting meizhou wan 2x1000mw power plant will start generating revenue, will generate extra rmb260mil after taxes profit, genting will share extra Rm80mil profit per year starting july 2017

http://www.sdic-mzwpc.com/xwzx/gsxw/20170806/767400004.shtml

Investors that cant wait until june 2019, must better plan again to move on,

Genting Monthly trading volume is only about 40-50mil / month or rm0.4-0.5bil, only accounting 1.2-1.4% of it market cap, whatever ants buyer or seller will looks like "big leg", but they are only as small as ant,.. Warrant conversions will create another 670mil new share in coming months, it mean market need another 5-6bil fresh incoming fund to adsorp the selling pressures, (money genting take), very similar to right issues, 95% of time price will drop, after 2019 june, situations will be better

Must wait unitl serious/real foreign fund come to buy , market power is always greater than whatever dark, blue, or green force,
But recently negative issue affect foreign fund stop buyer are 1) This Aug and Sept have about around 600-700 gov debt going to expire and rolling over, 2) default payments by 1mdb, 3) us DoJ case of 1mDb 4) general election increase political uncertainty 5) low foreign reserves of sbout 7.9months import sum almost lowest in asia, lower them thailand, india and Indonesia 6) week FX rate.

time will always bit dark force,

Sure with cross 10 and stay at 10.8 and above, but dont know this round or next, just matter of time,

Now genting share price is trading at -2.5SD (38% discount) on its 12 months forwards valuations (except WRLV and O&G) compared to its mean of 16% discout, that only seen in sept 2015, based on Heong long group research on 24july

Besaed on management guidelines, GenM seen to have at least double digit growth in gambling revenue, that translated into 150-180 mil increases in profit. If gent have zero profit and loss on other investment ( last quarter was loss208mil), genting 2Q2017 profit, can be as high as 750-800mil,

All major businesses registered stronger EBITDA at the back of improved operating margin as we continue to drive strategy to focus on better margin business and maintain lower impairment of receivables. For the quarter ended 30 June 2017, our attractions business achieved daily average visitations exceeding 19,000 with our hotel segment accomplishing an occupancy rate of over 95%.
For the first half of 2017, the Group recorded revenue of $1,182.6 million, up 9% as compared to the same period for the preceding financial year. Adjusted EBITDA grew significantly year- on-year at 85% to $576.0 million contributed by higher revenue, lower impairment of receivables and the cost efficiency arising from the initiatives implemented since 2016. The Group achieved net profit of $382.9 million arising from the improved performance of the Singapore IR, aided by the gain on disposal of its interest in an integrated resort in Korea (“The

GenS has achieved revenue growth for 3 sequential quarters. Business momentum remained healthy with 24% year-on-year increase in revenue to $596.1 million attributable to higher rolling win percentage in the premium player business. The Group generated Adjusted Earnings before interest, tax, depreciation and amortisation of $292.7 million, representing a 152% increase over the same quarter last year...

Mean forecast of core profit for 2017 are around 2100m to 2400m in 2017(eps55-63sen), based on catalyst above 2018 forsee core profit to be increase by 960m and to become 3060m-3360m(eps to be 80-88sens)

But still, share price is lagging behind, be patient patient and patient, dont know weather price are rising first or crisis come first.

Major catalyst summary

GenS-
----------------------------------
1) Early redemption of its S$1.8billion and S$500million 5.125% Perpetual Subordinated Capital Securities on 12 September 2017 and 18 October 2017 respectively will save S$75-80 million annually and attributes Rm120 million save to Genting annually.

2)Lower operating cost and impaired lose, soft recovery in business volume, expected better winning rate, weakened Ringgit and potentially of winning bid the Japanese casino by 2018, which will re-rate EV/EBITDA to 12.5-13x from current 8.5x (remarks, GenS currently trades at -1SD of its average EV/EBITDA of 10.2x and 30% discount from industry mean of 12.5x)

GenM-
-------------------------------------
1) Genting Integrated Tourism Plan(GITP)
1a) 450 deluxe rooms in theme park hotel be to open recently, increase hotel room inventories by 4%, could boost overnight visitors/addition tourists by 270k annually.
1b) Additional 250 gaming tables (from 550 to 800/ 40% increased ) and additional 2000+slot machines (expected) by end 2017. Whole sky avenue casino to be opened and fully attribute profits by Q42017 after 3rd and 4th flood sky avenue VIP casino for opening in Q32017.
1c) Indoor theme park expanded to be completed 1H2018
1d) 20th Fox century theme 2Q2018 to be open, expected to attract 400 million per year, in/out door theme park ticket price targeted around Rm220-250, could generate additional Rm850 million to Rm1 billion in revenue and Rm350-400million in net profit starting 2H2018.

2) Usd400million expansion Resorts World Casino New York City, include a 400-rooms hotel, dining outlets, retails and new gaming areas. (Remarks, RWNYC had gaming revenue of $826.5 million, 13 % more than Atlantic City’s biggest casino by MGM and 26 % more than the casino Wynn Resorts Ltd.’s flagship Las Vegas property.)

3) The Mashpee Wampanoag tribe for casino, is being delayed by a legal challenge and GenM may write off the whole sum or part of $347.4 million company invested in promissory notes issued by the tribe. (Risk)

4) Fovourable foreign exchange, positive to US and UK operation and lower loss for Bimini operation.

Gent Plantation-
------------------------------------------------
1) 15% increase in FFB in Q22017 and also 2017, recent increase in CPO price (rm2600 and above)
2) Genting premium Outlet operations

Genting (Direct interest)
----------------------------
1) licensing and management fees charge to GenM expected to increase from Rm600 to Rm720 and Rm900 million by 2018 and 2019
2) licensing and intellectual property in US and Bahamad to increase from Rm75m to Rm83 and Rm92 million by 2018 and 2019
3) Indonesia Banten 660mw power plant and Meizhou Wan phase II, 2x1000mw , will contribute about addition 350-400 million in profit annually.
4) Asap-Kido -Merah Kasuri Gas 285 (mmscfd) production development approval by 1H2018. Further releases unlisted assests value.(currently 50-70% discount by brokerages firm)

Other-landmark
-----------
Dispose 20% stake in MSL for Rm87.38 millions by Landmark, will have better position in Bintan resorts development.

Expected rolling chip winning in Macau revised from 3 to 3.3% recently and expected rolling chip winning in marine bay revised from 2.7 to 3.0%
Revised in rolling chip winning rate also means that , they could had changed their gambling rule, adjustment on payouts, adjustments on rolling chip rebate, betting limit or even betting limitations that affect their winning chance

Go to LV sand Q2 result u can see winning rate, sniper 123

http://investor.sands.com/files/doc_financials/2017/Q2/FINAL-2Q17-Earnings-Release.pdf

Genting Singapore PLC (the "Company") wishes to announce that further to the Company's announcement dated 17 July 2017, the Company will release its second quarter financial results for the period ended 30 June 2017 on Wednesday, 2 August 2017, after trading hours.

Release one day earlier, might be good news

rm12 (target)+7/8= Future target rm19-20, but not now, 3-5 years later

As the parent company of GenS, GenM and GenP, Genting's share price is lagged behind despite it's share price has risen about 20% since the beginning of the year. Many research houses forsee Genting's earnings growth to be powered by rm10.4b Genting Integrated Tourism Plan(GITP) and recovery in GenS, but many maybe not aware, RWLV and Energy divisions for genting could worth lots of money, especially when RWLV construction started and genting energy division going for listing in coming 2-3 years. Both of these direct own venture will contribute 100% of its earnings to Genting Bhd, not likes GenS and GenM or even GenP always share half earnings only.

Las Vegas will be getting its new 3000-room Resorts World Las Vegas Casino by 2020. The Strip hasn’t seen a major hotel open since 2009, and Genting’s timing could position it well. preparation works, tower crane installation and hotel surface glass testing installation for these USD$4 billion is getting started recently. Once full construction work started in early next year, we will see most of analysts re-rate genting EV/EBITDA to high multiple. Genting acquired this 87 arces of abandoned project worth Usd 1 billion for usd 350 million from Boyd Gaming in 2013.

Recent U.S. expansion plans of the Genting Group, also includes 1) Genting’s affiliate, Empire Resorts Inc., $1.2 billion investment in casino resort in the Catskill mountains outside New York City. 2) USD400 million expansion plan for GenM owns Resorts World New York City. 3) $1 billion Mashpee Wampanoag tribe casino resort in south of Boston, managed by GenM

On the other hand, The group with interest in gas-fired, coal-fired and wind power in china, india and indonesia has a total net attributable capacity of 2307MW including Meizhou Wan phase II, targeted to be fully commerce 3rd quarter this year. Since 2011, Genting sold it's Langat power plants to 1MDB for rm2.3b, genting had loss it's earning engine in power division. After 5-7 years of preparation, planning, development and construction, recently genting just about to rebuilt it's earning engine in power division. Today, genting coming back with 3 times more capacity than the 720mw Langat power plant genting sold to 1MDB year back 2011. Full year profit contributions for the 2307MW capacity can be see as early as 2018.

Net assets for Genting oil and gas sector stand at Rm4.485 billion as at 31 dec 2016, Genting has 57% interest in chengdaoxi block that delivered 8,000 barrels of per day. On top of that, Genting's Kasuri Production Sharing Contract in West Pupua, Indonesia, has reserve reach around 1.8 trillion cubic feet(Tcf) that has production potential of 80-100 million standard cubic feet (mmscfd) per day per wall. Genting has submitted a plan of development of production of 285 (mmscfd) for Asap-Kido -Merah discoveries to Indonesian oil and gas regulator early this year, but The Upstream Oil and Gas Regulatory special Task Force (SKKmigas) deems Genting 's plan is too costly and asked to revise its development plan. The approval now maybe delay to early 2018 from original end 2017.

After many years of efforts and investing, now harvesting time becoming very close and foreseeable. Total valuation of WRLV and nenergy division that combines both power and oil and gas sector could value at Rm17 biliion and Rm13 billion respectively and even more when it go for listing. That's can boost Genting share by another Rm8 per share. Currently this sector is contributes around 5% of profit, most of the analysts almost priced in less then Rm1 for those sector, some even ignoring the existence of the this rm30 biliion.

Very boring, I write somethingto share

Mbs winning for vip go as high as4.45%, GenS will as trend to be higher, but not4.45, maybe 2.9-3.3%

But gens share price seen very positive to LVS report

As long as genS remain 40% market share, then q2 result for gen S will flat, in general visitors are flat, only revenue/head is higher, and per table revenue for marine bay is 20% higher for rolling player, ( i dont think GenS will get that increase in vip volume). On the other hand , and GenS wont get 4.42% winning rate. Flat result $S140-160mil profit, could considering Very good already. I dont GenS will increase profit by 35%,

Normally is 2.7-2.9, last year is 3.5 considered high this q 4.45 is very, thats why record profits and 58.9 is highest margins in the world

Dont know our genS set of Q2 result will looks similar to Marine bay or not ? with strong 4.42% rolling chip winning, and record profits in history

And with 58.9% history highest EBITAD profit margins

“Marina Bay Sands delivered a record quarter with adjusted property EBITDA increasing 37.8% to reach a record $492 million. Marina Bay Sands' innovative programming, consistent mass gaming play, strength in non-gaming revenues and higher hold in VIP play compared to the same quarter last year all contributed to the outstanding performance. We are pleased to have established Marina Bay Sands as a reference site for other cities and countries that are considering harnessing the economic power and direct contributions to tourism, employment and GDP growth of our unique convention-based Integrated Resort business model.
Marina Bay Sands' revenue increased 17.7% to $836 million and adjusted property EBITDA increased 37.8% to $492 million. In the second quarter of 2017, there were approximately 7% fewer rooms available compared to the same quarter of the prior year.
Rolling Chip win percentage of 4.42% in the second quarter of 2017 was above the 3.50% achieved in the second quarter of 2016 and above the expected range. Rolling Chip volume was $8.71 billion for the quarter.
Non-Rolling Chip drop was $911 million during the quarter, with a Non-Rolling Chip win percentage of 27.9%. Slot handle increased 4.9% to $3.40 billion for the quarter compared to the year-ago quarter. Total mass win-per-day during the quarter was $4.42 million, slightly below the same quarter last year.
ADR increased 5.9% to $397, while RevPAR increased 3.6% compared to the same quarter last year, to reach $375.
The following table summarizes our key operating results for Marina Bay Sands for the second quarter of 2017 yearly.

current bearish sentiment are course by structural low volatility of genting, overall market participants structure are 15-20% retailer, 20-30% foreigner, 55-65% local fund,
1) genting price is Rm10/ share and how many retailers are willing to buy rm10 share, answers is less then 20% or maybe 1 out of 10
2) around 75% islamic fund and government link institutes are not participate in
3) only foreign fund are buying it. But nevertheless, foreign buyer can net buyer of 300m By today and net seller of 300m by tomorrow, Day to day swing is just to big.
So buyer and seller only accounts 15x0.2+0.25x6+25=3+15+25=43%, only 43% of normal big cap counter participation rate, (or even lower, example, east spring/norway national fund, sell all stake in genting in 2015, said gent plantation not environmental friendly, warrant buffets also wont and never buy gambling share, he said gambling is zero sum to GDP no productive to economy)

So small partial of 25% of foreign buyer can takeover any action taken by local fund and retailers. Plus low trading volume are vety discouraged to foreign fund, they will avoid to participate in short and medium term, plus limited information disclosure by company for unlisted assets like energy, pharmaceuticals sector,
In result, only
1)long terms investors that understand good enough genting (since genting conglomerate is a bit complicated)
2)big swing in financial result or significant catalyst that promoted by big foreign merchants bank jpm, swiss credit, hsbc,
3) strong inflows of ringgit (buy, now effect by 1mdb, all Asia currency are rising against usd, except ringgit)

So currently sentiment is very bearish because of ringgits and also(many debt expired in sept). But genting share still consider hard rock counter, when share price drop to certain level, it always attract extraordinary buying support, that adsorpt all selling pressure.

Really respect hng 33 trading ability, i really don't know how short term strategy execution , just do stupid thing buy and hold until my Wa until 3.0 and above

Could be cheaper depend on when u convert

U buy 1.7Wa then put 7.96 for 18 month fixed deposit 3.2% u earn 0.382, so, 1.7+7.96=9.66-0.38=9.28

Genting Singapore PLC (the "Company") wishes to announce that the Company will release its second quarter financial results for the period ended 30 June 2017 on Thursday, 3 August 2017, after trading hours.

Yes

Target price upgraded by brokerage firm
Maybank 11.55 to 11.90
Uob KH. 10.85 to 11.05

Last Remains
Kenaga. 11.30
Public. 11.15
HLG. 11.63
TA. 11.53
Ammb. 9.65
Affin. 12.06
AllianceDBS 11.5

average 11.31