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https://www.thestar.com.my/business/business-news/2020/08/21/lim-kok-thay-puts-fortune-on-line-to-save-genting-hk

https://www.asgam.com/index.php/2020/08/23/chairman-lim-kok-thay-pledges-entire-stake-in-troubled-genting-hong-kong-as-collateral-for-loans/

@Goldgent , the impression that what happened to the shipbuilding companies bankruptcy and it’s collateral damage to Genting HK is of “not at risk” or “no direct impact” to Genting Berhad just because it does not directly own any shares in Genting HK is far too innocuous. It is still early days and the situation is still fluid but bankruptcy and a rapidly declining Genting HK share price is not to be taken lightly. If things get worse at Genting HK, then it would definitely impact and be very risky for Genting Berhad itself because of the 550 million shares pledged by Lim Kok Thay as collateral to save Genting HK in August 2020.

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Hi TreeTopView and all friends here’s wishing you all a happy and joyous Christmas !

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Thanks TreeTV , yes thanks for your update on these additional shorts ; frankly I can't see "much meat" in shorting at these levels .... and the market depth is just pathetic especially on the sell side, when them shortists scramble to cover who is going to sell to them ?

As I see it (trading action) as at 3 pm, the downside seems "limited" from hereon ... if this is the best "they" can do on a good day like this when DJIA was down a whopping 905 points last Friday and with today's Nikkei down 467 points, HSI still trading down 280 points, I think they are a spent force ..... my friend TreeTV, the 5.80 fibo level which I was anxiously bracing for seems unlikely for now, and I am no longer adopting the brace brace position you suggested. I am never good at short term/day trading so there's no more excitement in watching the price action for me anymore. Many thanks to TreeTV , please keep us updated if you can on the shorting action and if you do see shorts covering it would be great if you can keep us smalltime retailers informed here; also MakeIG your constant update on the ADVT is very useful I think for best case scenario investing (not so much for shorts/traders, these bad ass guys can take care of themselves) .... as I type, the value traded just crossed RM 3.1 Billion, very respectable considering we're just half way through for today !

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Yes, TreeTV well said ... sit back and relax, this too shall pass !

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Hi TreeTopView, I think you’re right in pointing out to MakeitGrow that the disposal proceeds from the CME share sale (initially “exciting news” to small retailers like me) will not have any material impact on the EPS. After the 22/25 Oct 2021 announcement that the remaining balance of 75,250 CME shares were disposed for US$16.37m, the excitement for me has died out ! The entire CME stake sales and the extraordinary gains are not reflected in the SOPL (Statement of Profit and Loss); instead it is reflected in the Retained Earnings in Page 4 of the Condensed Consolidated Financial Statements in the quarterly reports as FVTOCI (Fair Value Through Other Comprehensive Income) :

I attach a screenshot for your convenience. Whilst I can see no excitement in the EPS, I am very hopeful for a bumper dividend payout. Besides the guaranteed Final Dividend, there is now a heightened probability of a generous Special Dividend of at least 8 Sens, perhaps even more 20 Sens as has happened in previous FYs. As before, I’m vested already in Bursa since 2010 ! P/s: hope to see you “consummate” soon don’t let the lady wait wait too long :)

@MakeitGrow, thanks so much for your constructive viewpoints especially on Bursa’s excellent fundamentals which are still not too bad for investing in despite the recent hiccups… best wishes to your progressive buying

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many thanks TreeTopView for your excellent response and thoughts on the earnings and fair value proposition for Bursa. I think your cautious estimate of annualised 40 sens EPS going forward is extremely sensible especially after the Cukai Makmur announcement the turnover value has been consistently down to only around RM 2Billion or even slightly less as in today at time of my writing this it is only hovering at 1.69B . However, I would urge you to reconsider the usage of a blanket figure of 15xPE simply even though it sounds reasonable in this rather depressed market environment in Bursa market as a whole. For the purpose of deriving a fair market value I would rather suggest we use the EPS and PE of the regional markets such as SGX, HKSE and ASX as the basis for comparison and deciding on what's a fair value for our poor Bursa. SGX is now $S 9.50 EPS 42 cents P/E 23X; HKSE price now $HK 464 EPS $HK 7.49 P/E 52X; ASX price now $A 93 EPS $A 2.48 P/E 38X ...... our poor Bursa price now RM 6.79 EPS 45 sens P/E on15X. I would say 15X is actually a very conservative figure for stock exchanges as my memories of the good old days where 35X PE is considered reasonable for stock exchanges ! I would be more gungho and use at least 20X PE for my own investment decision based on the above regional markets stock exchanges. As for the fibo numbers you mentioned 6.55 6.30 5.80 they look pretty scary to me, yes I like it when you say you've long given away your only crystal ball .... we all don't really know what's the direction going forward after 6.80 is broken down ; those shortists and traders love this kind of thrust and jerk down movements and they decide but me, I can only helplessly watch from the sidelines. Thank you TreeTopView for giving me the opportunity to share my thoughts on this Bursa and I hope to continue to see you sharing your views and thoughts : at the end of the day, let us all remember to be peaceful and comfortable with our decisions to buy, hold , sell , short-sell .....

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Many thanks TreeTopView for your very insightful breakdown of the shorting action and it seems that the shorts are still at it ! When will they stop I wonder ? Perhaps, when 6.80 is convincingly broken towards the 6.55 "intermediate" target you mentioned with high volume maybe that should be enough "meat" for them to cover their arses. Who is there to squeeze their balls ? You need a bigger monkey to change the direction, but I don't think there is any interest yet. Whilst it is comforting to see that EPF has been buying and as of 2 Nov they now hold an steadily increasing stake of 67,618,341 (8.355%), I am inclined to think that your intermediate target of 6.55 may be hit sometime during this November. Let's see....

@TreeTopView, I am watching with bated breadth the 6.81 fibo support you highlighted , just now was a teasing kiss with 400 shares done only ...... perhaps the shortists run out of ammo ?

food for thought for those diehards shouting : if Las Vegas is still so good, why would MGM after posting it's results say it is selling Mirage casino: 'We have enough of Las Vegas' ...... does this augur well for Genting ?

https://www.msn.com/en-us/news/us/mgm-is-selling-mirage-casino-we-have-enough-of-las-vegas/ar-AAQjfi6?ocid=uxbndlbing

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After the rout at Macao based casino stocks these past few days, today even "innocent" and goody goody Genting Singapore kana huge bashed down to a low of S$0.71 cts more than 5% down just like that ...... in a way, luckily it's a public holiday here and we are spared the wrath otherwise both Genting Malaysia as well as Genting Bhd would have received a similar if not worse bashing today !

Those who can look at the monthly chart of Genting will know that for the past five years running, Genting Bhd is always a down month every September since year 2016. This year it is even more likely to be a down month with the 3 months June to August quarter, many of its businesses interrupted on/off and especially Genting Highlands casino resort practically closed for business ....... last month's 2 Q results should be a good indicator of November's 3 Q results. All these "sky rocketing shouts" : do they make sense ?

Yes TreeTopView, we are in agreement it's all factual but notice how differently it felt when we present it by comparing the current 2Q result with the preceding 1Q result vs present it by comparing the current 2Q result with the previous year's (same) 2Q result ..... of course, the Media Release is even more dramatic when it present factually the current 1H vs the previous year's (same) 1H - I don't know about the rest of you, actually I like it this way because it gives a positive "spin" !!! Re the price movement, I was just hazarding a quick guess that it will be down but you are right there my friend the behaviour can be sometimes illogical. Share price performance especially in the short term (hours,days even weeks !) can defy logic and reason, but not long term (over a year or more)

@TreeTopView, take a look at the Media Release that jus came out moments ago .... Whoa ! it sure paints a much more glossy picture comparing this current 1H with last year's 1H :

BURSA MALAYSIA RECORDS RM210.4 MILLION PROFIT AFTER TAX
FOR THE FIRST HALF OF 2021
HIGHEST FIRST HALF-YEARLY FINANCIAL PERFORMANCE SINCE LISTING IN 2005

Sorry, it's just an intuitive guess because those headline numbers says it all :

"Revenue Rm196.1 Mill ( down Rm36 mill from previous Q)
Profit Rm88.97 mill (down Rm32 mill. from previous Q)"

this is because of comparing with the previous "sensational" 1Q ..... but if it is if compared to the same 2Q last year, it's about the same

Hahaha @ TreetopView I wish I can answer your question but my "guess" is down for the afternoon session today .....

@TreeTopView wow that's fast thank you for that quick summary of the headline numbers ! EPS 11 sens is a "sweet spot" for me and it looks like @sakurako was spot-on when he suggested eps 11sens for this quarter. A respectable 2Q report card, nothing sensational though as was expected by most of us here. The interim dps 24 sens is a pleasant surprise and it augurs well for the full year; we might be tempted to expect a Special Dividend for a bumper final dividend for this FY'21 as in FY'13 and FY'18 !

Well said TreeTopView ! Thank you for your correction and insightful comments. You are very right to not place too much weightage to "the previous 3 sensational quarters" for the purpose of deriving a "sweet spot" to use as an average. I've been a smalltime retail investor in Bursa since 2010 and perhaps I might be able to give you a clearer historical perspective on it's EPS :
Fy 2008 was 19.90 sens (the Low) and FY 2020 was 46.70 sens (the High) in between every year was profitable somewhere in between these two numbers- remember all these years the shareholding base was only 531m shares. Then came the bonus share (ex date was 10 Apr 2018) distribution "1 for 2" in FY 2018 this was the bumper year where dps for the year was a whopping 53.50 sens. So you can see how juicy it was "all these good years" for those 531m shares for longterm shareholders of Bursa! Fast forward to today - Bursa is now a much more progressive exchange with several more sure-earn "money spinners" (you can see what these are and their relative contribution to the bottomline in their segmental income streams by downloading any of the recent quarterly results). Now fast-forward to our discussion today where TreeTopView rightly pointed out that these 3 recent quarters' eps of 15.1 sens (3Q ending Sep20), 13 sens (4Q ending Dec20); and 15 sens (1Q ending Mar21) and mind you, these are based on an enlarged shareholding base of 810m shares - just imagine if not for this, the numbers would have been 22.65 sens, 19.5 sens and 22.50 sens respectively -- I think you are spot on when you used the word "sensational"... indeed ! So , I think 11 sens is a good sweet spot plus/minus a sen or two more no big deal for investment decision making.
Our friend here sakurako's also been looking closely at the daily volume/value of transactions on Bursa's bourse and his estimate of 11 sens is quite an educated guess, I think. Perhaps, at the end of the day being small time retailers our trades as well as our comments will not make an iota of difference to Bursa's price/volume behaviour; so our great footballer namesake @lionel messi simplistic approach may well turn out to be the best. You guys are indeed savvy investors, Cheers and thank you for all the good wishes : may we all be happy, peaceful and comfortable in our own individual investment decisions !

@TreeTopView, you've posted some very interesting thoughts and numbers. Bursa 1818 is not a well traded stock; these past few months especially after the glove-induced euphoria collapsed dramatically, the volumes traded on Bursa also came down in tandem. Looking at those Fibo numbers 7.46, 6.80 you stated .... yes, they are not too far fetched considering that Bursa was hovering around the 620 level only around Dec20/Jan21 before plunging along with every other stocks to the Covid19 low of 4.32 on 19 Mar 2020. But I am not that pessimistic and I don't see why a stock that's earning such a very decent eps and paying a regular respectable dividend should drop to these levels again considering the progressively improving outlook in dealing with Covid19 through increased testings, vaccination etc. I believe the situation will improve from hereon and your year end target of 1650 for the KLCI is a realistic one; in fact I think it will overshoot once the euphoria returns to the malaysian market. And when that happens, sakurako sir crossing your 8.80 target should be a breeze ! I am vested since long long ago patiently.....

@TreeTopView, looking at the price action I think market already priced in a slight drop in revenue/eps for the 2Q of between 10% to 25%; but you will still be seeing a respectable eps of between 11 sens to 13.5 sens. So I opine that Bursa is unlikely to fall much further from the current 760 level, perhaps a small knee jerk drop below 750 from panicky retailers. Also @ sakurako, if eps is at the low end of 11 sens, that's still very respectable and if assume the same for the remaining 2 quarters, we will still see a healthy 48 sens full-year eps. Bursa has a declared consistent payout ratio of 90% dividend policy . So my expectation is a full year dps of at least 43 sens; I would expect an interim dps of 17 sens maybe even more and a final dps of 26.5 sens maybe even more. Patience is a virtue when investing in a slow and tardy market like Bursa; if you want excitement and adrenaline rush you might want to consider the US market. @ lionel messi, don't lose patience and waiting is part and parcel of happy and savvy investing .... Cheerios guys and let's see what goodies the 2Q results bring.

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@abajamma, it's a good sign that EPF is buying and absorbing the selling pressure ..... but it's still a troubling sign if the sellers who are bailing out have given up hope on Bursa; let's hope things will improve soon on both the terrible political and Covid19 management.

this Stocksafeplayer is something wrong posting day and night anyhow scolding and belittling others, so pathetic .... please go and seek medical help asap

not much different from our political if you keep comforting each other and ignore the reality on the ground

share a message from my :

The Genting Group is slowly and gradually leaving Malaysia.

A Business Risk Assessment recently done on Malaysia by Standard and Poor says that Malaysia is on well on its way towards becoming a fully Islamic country
as there is a strong possibility of a fully Malay-Muslim based political alliance driven by UMNO, PAS, BERSATU, AMANAH, PEJUANG AND PUTRA emerging as a strong political force after GE15.

So, businesses involved in gaming (casinos, horse racing, lotteries) have started to make a phased exit,
along with businesses involved in alcohol production (breweries).

Genting actually started the process long ago, about 15 to 20 years ago, and has diversified its business interests in Australia, Singapore and the USA.

The Berjaya Group has also established itself well in Mauritius. Knowing this, the foreign banks,
i.e. Standard Chartered Bank, HSBC Bank, OCBC Bank and Hong Leong Bank are also downsizing their businesses in Malaysia by closing many of their branches countrywide. These foreign banks have been the principal bankers and financiers of the 'non halal' industries mentioned above.
Tough times ahead for Malaysia.

The joblessness among Malaysians is set to increase.