Market doesn’t believe the profits are sustainable. The price seems to move before actual results are announced. The share price likely moves towards 20sen next year.
technical breakout above the downward trend line for both daily & weekly chart .. Time to chip in & enjoy the rides towards the CNY with big Ang Pow !!
KUALA LUMPUR (Feb 28): Genting Bhd’s Resorts World Genting said it will close two of its three casinos effective Wednesday.
The gaming group posted the announcement on the Resorts World Genting website, stating that Genting Casino 1 (Circus Palace) and Genting Casino 2 (Hollywood) will be closed with effect from Wednesday.
The notice advised customers to instead proceed to SkyCasino for gaming, with a shuttle service to be provided to SkyCasino between 10am and midnight daily.
Resorts World said in a statement that the closure of certain sections of its casinos would be temporary to facilitate improvements to its facilities.
“In our ongoing effort to improve our operational efficiency and enhance the gaming and entertainment experience for our guests, we continuously upgrade our facilities,” it said.
Resorts World added that its gaming operations continue to operate as usual. However, the company did not provide a timeline for when the upgrade works will be completed.
RGB's Profit before Tax excluding Impairment Loss is RM9.597M.
Total Impairment Loss comes from Sale & Marketing (RM13.869M) and Technical Support & Management (RM21.234M) totaling RM35.103M respectively.
Hopefully, these Impairment Loss "Receivables" are able to be collected back in this year 2024 & so on.
From the 4th Qtr Report:
"The Group has adopted a more cautious and prudent decision in determining the impairment loss for trade receivables, albeit the ongoing monitoring and close following up with the respective debtors. Given the aging receivables, the Group has thus decided to kitchen sink these costs even though some of the debtors have agreed to a repayment schedule. Consequently, the Group has made an exceptional provision for impairment loss on trade receivables amounting to RM13.9 million and RM21.2 million for Sales and Marketing ("SSM") and Technical Support and Management ("TSM") divisions respectively for the quarter ended 31 December 2023."
Tax is RM4.964M.
After lessing out the Tax = RM9.597M - RM4.964M = RM4.633M (which is Net Profit after Tax excluding Impairment Loss).
RGB declared a dividend of RM0.0080/share which is RM8-00/lot of 1,000 units.
Total Cash/Bank Balance still stand at +RM148.935M.
Hope to see a good financial & business year for RGB for year 2024, 2025 & so on.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
PandaPanda
2 posts
Posted by PandaPanda > 2023-10-04 19:54 | Report Abuse
Anyone received dividend from RGB already?