https://www.cbsnews.com/newyork/news/resorts-world-hudson-valley-casino-opens-inside-mall-in-orange-county/

"I've never seen a mall this crowded..."

GLASS HALF-FULL
Lim KT will likely toast the new year with a glass half-full because there is as much to cheer about as there were setbacks. Genting finally has an operating address on Las Vegas Boulevard, almost a decade after buying the Echelon plot from Boyd Gaming. Lim is sailing again after reincarnating a new cruise business in Singapore.

The Resorts World properties in Malaysia and Singapore are swinging back to health now that COVID-19 is well and truly endemic in the two countries. The Big Apple beckons, where Genting is an “incumbent” and favourite to get one of the three commercial casino licences in New York City. Queens is not quite Manhattan, but a new NYC casino licence in 2023 will be a more than fitting baton for the Lim family’s third generation to take over the business empire.

The grand opening of Resorts World Hudson Valley will take place on Wednesday, December 28, company executives announced.
Located in Orange County at the Newburgh Mall, just 60 miles north of Manhattan, RWHV will feature 50,000 square feet of gaming and hospitality space, including 1,200 state-of-the-art slot machines and electronic table games, as well as the Resorts World Bet Sports Bar.

Lottery Development in New York : It's sole mission is to earn revenue for education. It started as an entertainment business, now it supports education statewide. To maintain financial integrity, the lottery's financial drawings and financial statements are monitored and audited independently.
MY education system needs a revamp and funds to upgrade. If all tax collected from gaming companies are disbursed to the MY Education dept (monitored and audited independently), then this may stop leakages and contributions by gaming companies to politicians and political parties. Then, approving more gaming licences and granting extra lottery draws should not be an issue when there is an election as all are committed to the support of education. Should there be a nexus between gaming companies and schools....? Else, both will lose lose....

Comparing GenS (Genting Singapore) and GenM (Genting Malaysia) is just like comparing the countries' performance. Singapore keeps on out-performing and Malaysia keeps chasing its tail.
GenM is cheap (on valuation, etc) but with high debts and GenS has better operating metrics & margins. GenS shr price keeps climbing up!
Solution for GenM : Sell off all Miami assets fast. 2022-2023 is peak for Miami real-estate prices. Why wait for US$1.5 B to sell?

https://www.nst.com.my/news/politics/2022/12/858102/yes-pn-gave-rm50k-candidates-ge15-funds-not-gambling-companies-says

Good expose..... in the future, gambling companies and other listed companies and political parties will have to be more transparent in their dealings...

Pls check GenM annual report under List of Properties in USA...

https://www.straitstimes.com/business/genting-to-list-miami-property-with-138-billion-plus-asking-price

HODL your GenM!
Wait for the Miami property sale, then it's blue skies.

If I can make it there
I'll make it anywhere
It's up to you
New York, New York

https://www.asgam.com/index.php/2022/11/29/genting-malaysia-investors-likely-relieved-at-macau-concession-loss-says-nomura/

Genting Singapore Q3 revenues & net profit doubles....

https://www.businesstimes.com.sg/companies-markets/genting-singapore-q3-net-profit-more-than-doubles-to-s1358-million-as-travel

Genting Malaysia earnings to follow after GE15 results...

Macau aims to open to mainland Chinese tour groups in November this year for the first time in almost three years

Macau's gambling revenues in 2019 - six times the Las Vegas Strip, before COVID decimated it by 70% to $10.8 billion in 2021.
"This represents an opportunity for Genting to participate in the recovery prospects of the Macau gaming segment.

Marina Bay Sands’ net revenue more than trebles to US$756m in Q3.

https://www.businesstimes.com.sg/companies-markets/marina-bay-sands-net-revenue-more-than-trebles-to-us756m-in-q3

On 10.10. PAS days as cabinet ministers are officially over.
First and last opportunity ever.... simply cannot come!

After 5 years, Kretam's FFB production todate Sept in 2022 is the same as 2018, where's the upside?

To begin with, Inari seems to have a respectable ROE. Further, the company's ROE is similar to the industry average of 16%. This probably goes some way in explaining Inari's moderate 9.0% growth over the past five years amongst other factors.

Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

19 May 2022
....it does look like Inari has some positive aspects. Especially the growth in earnings which was backed by an impressive ROE. Still, the high ROE could have been even more beneficial to investors if it reinvest more of its cash n profits..... the current reinvestment rate appears to be negligible. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum.

RSS no longer interested in Inari?

Apple earnings beat estimates... Revenue up 9% for 1st qtr 2022.
Follow the earnings trail ...

EPF has increased it stake by 60 M shrs since Jan this year.
What's brewing?

Managing plantation is about people, not palms.

With CPO price at above RM5000, this continues to be a disappointing plantation company, dragged down by its Indonesian operations. Companies that do not have oil refineries in Indonsia will always lose out because CPO price in Indonesia is some RM1000 lower than that in Malaysia. In general, the crop yield of its plantations in Malaysia is so much lower compared to UP, KLK, IOI, HSP, etc. Weakness is in it harvesting operations, not agronomy....

Nasdaq, Apple & Broadcom are just about 10% lower than its ATH (all-time-high).

And Malaysian OSAT players (MPI, Inari, Frontkn & Unisem) are more than 20% lower than its ATH.

Malaysians tak boleh, kah? Selalu tidur sahaja....

FCPO prices are in backwardation (where future prices are lower than current spot). This is considered a bearish sign i.e. market participants are not willing to pay more.

Ramadan starts in April. Both Malaysia n Indonesia will look after their voters with subsidised cooking oil prices. Tax n levy by both govts will crimp CPO exports.

In short, CPO prices will likely to settle to RM 4800 pmt eventually........

Apple supplier Foxconn partially resumes production at ‘closed-loop’ Shenzhen campuses....

https://www.scmp.com/tech/big-tech/article/3170658/apple-supplier-foxconn-partially-resumes-production-closed-loop?module=lead_hero_story&pgtype=homepage

The world's largest iPhone factory, operated by Foxconn Technology Group in the central Chinese city of Zhengzhou, has kept up with its production schedule, despite a jump in new Covid-19 cases...

Apple had 51 suppliers based in China and Hong Kong in 2020, according to a Nikkei Asia analysis of the annual Apple supplier list released last week.3 Jun 2021.

Apple uses contract manufacturers to produce its devices in China. For example, Foxconn, Pegatron, and Wistron employ hundreds of thousands of workers to assemble Apple devices in China.

Apple has tried to expand its chain of contracted manufacturers to other Asian countries such as India as part of efforts to diversify.

News about Agreement reached between Russia and Ukraine?
Video Conference between the 2 Presidents on today ?
Agreement to sign next week?
Withdrawal of Russian troops in 3 mths?
Prices of crude oil and palm oil have reached inflection point?
No more resource scarcity?


Time to revise your bets

Looking forward, your plantation costs will be going up and your crop yields will be going down.

Hope you do not start betting on CPO futures where they give you vouchers & free gifts - be wary!

If everyone on here is freaking out about high oil prices, wait until they see potash fertilizer prices.
#Fertilizer prices are reacting sharply following Russia's invasion of Ukraine as the implications begin to settle in. #Urea, #ammonia, #phosphates and #potash have charged upwards as already-tight markets face the prospect of more dramatic supply restrictions.
High Fertilizer prices will squeeze the margins of planters.
Never mind the lower margins. What will happen when imports of potash from Russia have stopped?
Fertiliser shortages may be the biggest issue we face from this Ukraine crisis.
China has already curbed fertiliser exports (urea, phosphates & potash) last year.
Canada's saskatchewan potash will likely be all absorbed by the US.
Maybe last week the potash (MOP) prices was RM2500 pmt, try to ask for quote next week (RM 4000 pmt).

Whatever it is, China is the main beneficiary from the Ukraine Crisis where it gets the oil, gas, fertilisers, wheat, palladium, aluminium, etc.... all at discounted prices and paid in CNY! Go buy some China stocks - CNPC, UnionPay, SinoFert, etc.

On oil palm plantations,
Prices have peaked in 1st qtr of year.
Production are higher in 2nd & 4th qtrs of year.
Fer
Fertilisers are the largest cost factor and input to plantations.
Potash prices has tripled since Dec 2021.
Potash fertilisers are the main input & highest cost factor for crop yields.
Russian (3rd) & Belarus(2nd) produce more potash than Canada(1st).

Make your bets whether earnings in plantations will grow further...

Who has the contract to supply RF chips to Apple? Broadcom.
Who is Inari's best customer and initial startup investor? Broadcom.
Where is Broadcom original HQ location? Singapore.
Which country that Inari mainly export to? Singapore

Berkshire Hathaway (Warren Buffet) largest holding in value is APPLE Inc.
What is Apple main source of revenue? iPhones.
What is Inari main source of revenue? RF chips for iPhones.

Zelensky Leads the Defense of Ukraine with His Voice.
At the most consequential hour in Europe since the collapse of the Soviet Union, a comedian has assumed the role of Winston Churchill.

Dnex 2Q results - why is PBT for Anasuria only RM 12M (40% shr) when Hibiscus gets RM28M (50% shr)? Volume is shared and oil price is up $10/bbl.

Nikita Khrushchev's father was an Ukrainian. Khrushchev was born in Kalinovka, some 11 km from the border of Ukraine. Khrushchev spent some 10 years governing and reconstructing Ukraine after World War II where 1 in 6 Ukraininans died during the war. After 80 yrs, the same cycle is repeated...

EU & US sanctioned Iran oil exports over disagreement with Iran's uranium enrichment programs years ago. Now, EU & US disagreed with Russia over Ukraine, so why no sanctions against Russia's oil exports?

Half-hearted sanctions from Half-Hearted leaders

Why US says it's a new World Order by Russia & China? What is Joe's endgame?
https://www.channelnewsasia.com/world/us-says-china-and-russia-seek-profoundly-illiberal-world-order-2515996

EU & US sanctions Iran oil exports over disagreement with Iran's uranium enrichment programs years ago. Now EU & US disagreed with Russia over Ukraine, so why no sanctions against Russia's oil exports?

The Big Picture : Inari --> Broadcom --> Apple 5G

Apple is in a nice position to take advantage of this secular growth. The company controlled 17.4% of the global smartphone market last year per IDC's estimates, up from 15.9% in 2020. Apple's market share growth last year was a result of the company's dominant position in the 5G smartphone market. That's good news for the company, as 5G smartphone adoption is expected to increase in the coming years.

Apple smartphone is the dominant player in China and India. Apple's growth in the smartphone market in China grew 79% QoQ in 4Q2021.

First Half of Year results FY22 vs FY21 :-

EPS increased by 20% (5.89 sen vs 4.89 sen)
Div increased by 24% (5.6 sen vs 4.5 sen)
Margin increased by14% (25% vs 22%)

Hibiscus Anasuria 2Q22 (end Dec 2021) PAT RM17M - just 5 M above prev qtr (end Sep 2021).
Riser component to Anasuria FPSO still not fixed.

Penang's Tan Hock Eng (Broadcom CEO) will continue to look after the Penang IT workers and IT factories. As long as Inari Amertron stays in Penang Island, no conflict should matter...

Wafer foundries need top-notched equipment that are not easy to source or maintain. Examples of wafer fabrication equipment are oxidation systems, epitaxial reactors, diffusion systems, ion implantation equipment, physical vapor deposition systems, chemical vapor deposition systems, photolithography equipment, and etching equipmen

Wafer foundry vs OSAT vs ATE.
Which will be more successful in the semiconductor value chain?

The indicators are below for you to score :-
labour cost, labour skill, cheap & reliable electricity, ICT ecosystem, low factory cost, macroeconomic stability & cross border regional free trade.

RSS has reduced its stake by 1M shrs over the past week.
Since it's still there on the stake, maybe we shud roast it slowly like in Dnex

What happened to Bob, Trevor and RSS?
RSS vanished or vapourised?

Malaysia's strength in the semiconductor industry is in its HUMAN CAPITAL. As such any production lines that involved assembly n testing can survive (as it has been for the past 50 years).

Each US$10 increase in Brent oil is only translated to an extra RM 11M per qtr. for Ping.
Brent oil is not sustainable at above US$90/bbl, but only on fear of war between US/EU and Russia. This is unlikely to happen as no ukrainians are moving, relocating or emigrating to Romania or Poland.

Wafer foundries need top-notched equipment that are not easy to source, maintain, update or replace. You must have deep pockets. Probably, only Taiwan and China are able to thrive in the wafer foundries industry with its high tech engineers and scientists.

So, Inari vs Dnex, make your guess who have more potential earnings.
Besides, while you hold and wait, you are rewarded with dividends every qtr.

Now that you know how to run a wafer foundry efficiently....