Overnight got 2 kiasu research houses issued buy calls on Genm. How? kikikiki

KUALA LUMPUR, April 28 — AllianceDBS Research has cut Genting Bhd’s financial year (FY) 2020 and 2021 earnings forecasts by 39 per cent and 18 per cent respectively, to reflect the lower earnings estimates of its subsidiaries Genting Malaysia Bhd and Genting Singapore Plc due to lower visitor assumptions following the outbreak of the Covid-19 pandemic.

It said visitor assumptions for Genting’s accommodations for FY20 and FY21 are expected to decline to 26.6 million and 28.3 million respectively, from 27.4 million and 29.5 million forecast earlier.


“Post revision, we assume visitor growth for FY20 and FY21 at negative eight per cent and negative seven per cent, respectively,” it said in a research note today.

It said Genting Malaysia’s earnings contribution from the US and other overseas operations is also forecast to contract by 15 per cent and 10 per cent, respectively, for FY20.

The research firm said Genting Singapore is also expected to see markedly lower visitor numbers to its casino and attractions on the back of a sharp decline in Singapore’s tourist arrivals due to extensive travel restrictions and a contraction in the republic’s gross domestic product (GDP) growth by 5.7 per cent in 2020.


AllianceDBS Research said the lower earnings forecast for Genting is also on expectations of lower earnings contributions from its unlisted entity, particularly the oil and gas and power segments and for bookkeeping purposes.

“We believe that our earnings estimates for FY20/21 are rather conservative (now 26 per cent/13 per cent below consensus),” it said.

Meanwhile, AllianceDBS Research said the commencement of Resorts World Las Vegas is expected to be a key re-rating catalyst for the group.

“The success of this venture, the group’s first direct involvement in the US gaming sector, could change the group’s earnings profile,” it said.

It said other potential re-rating catalysts for the group are stronger-than-expected earnings growth in Genting Singapore and the winning of the integrated resort (IR project) in Japan.

“Stronger-than-expected visitations to Resort World Genting in Malaysia may also provide upside potential to our earnings forecasts,” it added.

AllianceDBS Research has maintained its “Buy” call on Genting but revised downwards the target price to RM5.55 from RM6.80.

At 11.58am, GENT was down one sen or 0.25 pct with 2.79 million shares changing hands. — Bernama

https://www.malaymail.com/news/money/2020/04/28/alliacedbs-slashes-gentings-fy20-21-earnings-forecast-on-covid-19/1860945

UOB buy call o..... kikikiki

KUALA LUMPUR: UOB Hay Kian Research foresees a significant recovery for Genting Malaysia Bhd in the second half of this year (2H20) driven by pent-up demand from domestic trippers in Malaysia and Singapore.

The research house expects a promising outlook for the group in the 2H20, saying that the Covid-19 situation is under control in Malaysia and in neighbouring countries such as China, Thailand, and Singapore that make up above 90% of Genting Highland’s tourist patronage.

“We expect a moderate rebound for the share price when Malaysia’s movement control order (MCO) is officially lifted, with much more meaningful recoveries in 2H20 when visitation strongly rebounds and when Genting Highland’s outdoor theme park opens its doors, ” it said.

The opening of the outdoor theme park in expected to be in the third quarter of this year (3Q20), which would drive up pent-up demand of local visitors in 2H20.

Given the extended lockdowns in Malaysia and Singapore beyond its initial expectations, UOB Hay Kian Research has downgraded earnings for Genting Malaysia and its parent company, Genting Bhd by 26% and 16% respectively.

“Our forecasts also incorporate a more gradual recovery post-lockdown factoring in international travel impediments, ” the research house said.

In Malaysia and Singapore, lockdowns are likely to be lifted after May 12 and June respectively, with the reopening of the economy gradually by essential sectors.

However, UOB Hay Kian Research does not expect Genting Malaysia to reduce dividends for its shareholders this year despite the earnings cut.

“Our assessment rests on Genting Malaysia’s gross cash of RM6.5bil and its parent company Genting Bhd’s cash needs to complete the construction of Resorts World Las Vegas.

“The casino segment in Malaysia is now one of the highest yielding sectors on Bursa in 2020, with Genting Malaysia and Genting Bhd offering prospective yields of up to 7.2% and 2.7% respectively, ” it noted.

Meanwhile, UOB Kay Hian Research is maintaining an overweight call on the gaming sector as it expects earnings resilience beyond the Covid-19 period and appealing sustainable yields.

As such, it is keeping a “buy” call for both Genting Malaysia and Genting Bhd, with trimmed target prices of RM2.89 and RM5.79 respectively reflecting the recent extension of the MCO period.


https://www.thestar.com.my/business/business-news/2020/04/28/strong-recovery-seen-for-genting-in-second-half

Sing when we're winning kikikiki

Who that person keeps singing IDSS here? Need to sing another song now kikikiki
https://www.thestar.com.my/business/business-news/2020/04/28/sc-bursa-malaysia-suspend-short-selling-to-june-30

Is today declare dividend?

buyback otw kikikiki

Still got last train o not? kikikiki

Oil so cheap..buy a Mazda enjoy rides kikikiki

apple168...u try so hard to buy cheap kikikiki

Excellent choice o,..... undervalued some more kikikiki

Next week huat again o kikikiki

Superb run up! Hehe

Hidup_PN...true le

apple168, why u so angry o? Got dividend to be announced due before end of month leh... if haven't lose until u sold out mah kikikiki

Earn so sweet and fast kikikiki

Small ding dongs dun knw wat is treasury shares ah kikikiki

Veli good o

Must wear gloves nowadays mah...even to toilet

Boss Lim & directors bought so much recently o.....u dun knw how to check meh? No wonder small kids leh kikikiki

Hey small kids... Look below ehh kikiki

Total number of treasury shares held after the resale or transfer:
284,808,962 units
https://malaysiastock.biz/Company-Announcement.aspx?id=1219171

I buy another mazda car lo hehe

Must do...can do...ahoy!

Soldiers stay to fight le...spartan push invoke

Come le we abt to shoot some birds

Luv mazda 3 fine line hehe

Here we go again o