Posted by dompeilee > 2023-02-21 09:09 | Report Abuse

Don't speculate yet on Genm's results becos it still has the no integrity LKT-inflicted Empire black hole millstone around its neck!

Posted by newbie2019 > 2023-02-21 09:16 | Report Abuse

12 cents I am good oledi…15 will be bonuses

Posted by StartOfTheBull > 2023-02-21 09:27 | Report Abuse

Genting Singapore is being sold on news.

Posted by AngTayKor > 2023-02-21 09:31 | Report Abuse

GenS Q3 net profit was $135m. Q4 profit dropped to $120m.

Posted by dragon328 > 2023-02-21 09:35 | Report Abuse

Genting Singapore operating cashflows for 2022 amounted to S$806.68 million with EBITDA of S$774.2 million.

Most analysts (like Maybank, CIMB, UOB) expect Genting Singapore to achieve EBITDA of S$1,050-1,100 million in 2023, hence operating cashflows will increase by S$300m to S$1.1 billion in 2023.

If setting aside S$360m for 3 sen dividend in 2023, Genting Singapore will still have almost S$750 million of operating cashflows to fund the capex which is expected to be S$300-400m in 2023.

Posted by dragon328 > 2023-02-21 09:40 | Report Abuse

Now that the company has announced to further spread out the RWS 2.0 expansion project to 2028. So far the company has only announced plans to add Minions Land in Universal Studios and expand the Acquarium with a total investment of S$400 million to be spent in 2022-2023.

We shall wait for other plans from the company later this year or next to gauge its capex plan and potential earnings enhancement then.

Posted by dragon328 > 2023-02-21 09:44 | Report Abuse

I think the issue of a new gaming tax has been overplayed by certain parties like CIMB. Think about it, how much tax revenue could the government collect from such a gaming tax??

Genm expects to achieve pretax profit of RM1.5 billion in 2023, a 10% gaming tax would collect a tiny RM150 million of tax revenue, it wouldn't make a difference to the government.

Even a 50% gaming tax would collect just RM750 million, not adding much to government coffer.

I think an extension of the prosperity tax for one more year in 2023 would be more likely as it will add some RM8 billion to RM10 billion additional tax revenue to the government, which would be sizable.

Posted by dragon328 > 2023-02-21 09:45 | Report Abuse

An extension of the prosperity tax at 33% for 2023 would cost Genm additional tax expense of RM1.5bn x 8% = RM120 million, and about RM60 million impact to Genting Bhd or just 1.5 sen impact to the bottom line.

Posted by dragon328 > 2023-02-21 09:47 | Report Abuse

As there will be 6 state elections in 2023, so the government will avoid implementing a wide-reaching GST in 2023. But it is likely for the govn to consider it for 2024 as GST would collect far more tax revenue of RM35-40 billion a year, compared to SST tax revenue of RM12 billion and prosperity tax of RM8-10 billion a year.

Posted by dompeilee > 2023-02-21 10:08 | Report Abuse

Which still leaves the mystery of the big selldown on Fri. Could be corrupt political insiders shorting with sensitive information still undisclosed.

Posted by dragon328 > 2023-02-21 10:12 | Report Abuse

True that Empire Resorts may not be a good investment so far for Genm, but things will change when it manages to get one of the full casino license later this year.

Empire Resorts has managed to turn around with positive operating cashflows and EBITDA of US$36 million on revenue of US$231 million in 2021.

The solicitation process for 3 full casino licenses in New York is well under way. CBRE expected that the potential gaming revenue in New York area would top US$4.8 billion a year, indicating that each full casino might achieve gaming revenue of US$1.6 billion a year.

Empire Resorts stands a good chance to win one of these full casino licenses, as it already has the facilities ready for deployment in a matter of weeks.

Based on my calculations, Empire Resorts would achieve annual revenue of US$1.5 billion in its first year of having a full casino license, and EBITDA of US$750 million and after-tax free cashflows of US$400 million a year.

With a 76.3% stake in Empire Resorts, Genm will strike a jackpot when the latter gets a full casino license, and the latest 10% stake acquisition from Kien Huat would be a blessing in disguise.

Posted by dragon328 > 2023-02-21 10:15 | Report Abuse

@dompeilee, I am also struggling to understand the selldown last Friday. It could be a combination of everything:
- profit taking after a good run-up from RM4.46 to 5.10
- the rumuor of additional gaming tax, and prosperity tax
- a weak quarterly result from Genting Singapore (after Marina Bay Sands reported a 10% drop in earnings in Q4 vs Q3)
- a potential play by call warrant issuer to depress the share price ahead of expiry date
- potential further interest rate hikes in the US

Posted by neohts > 2023-02-21 10:16 | Report Abuse

Over sold.
If Q4 2022 result is good. Should go back to RM5.

Posted by dragon328 > 2023-02-21 10:22 | Report Abuse

Short term share price movements are hard to explain and easily manipulated by all sorts of parties.

But numbers never lie. Genting Singapore latest Q4 numbers speak loud and clear about the impending rebounds in earnings and cashflows in Singapore. A simple calculation will reveal that a new gaming tax would be of no use to the government. Empire Resorts have turned around with positive EBITDA though short term interest costs may drag it into a small loss.

There are plenty of catalysts around for Genting Bhd, but each takes time such as getting authority approval for TauRx's Alzheimer treatment drug, New York new casino license solicitation process, rebounds in foreign visitors to Singapore and Malaysia after China re-opened borders on 8th Jan 2023, a potential US listing for RWLV and Empire Resorts etc.

Posted by neohts > 2023-02-21 10:25 | Report Abuse

A potential US listing for RWLV and Empire Resorts etc.
Interesting. CASH is king.

Posted by dragon328 > 2023-02-21 10:34 | Report Abuse

CIMB analyst in his report dated 14th Feb 2023 on Genm forecast a Q4 EBITDA of RM640-680 million for Genm with US operations contributing EBITDA of RM120-130 million.
Minus off forecast interest costs of RM130 million per quarter, operating cashflows may come to RM530 million in Q4 for Genm, or 9.5 sen per share. With over RM1.0 billion of operating cashflows forecast for 2022, Genm will be comfortable to declare a final dividend of 9 sen per share.
Note that Genm has so far declared interim dividends of 6.0 sen per share, so a final dividend of 9.0 sen will bring full year dividend to 15 sen, in line with CIMB projection

Posted by dragon328 > 2023-02-21 10:35 | Report Abuse

@neoths, yes CASH is king, and operating cashflows are important

Posted by dompeilee > 2023-02-21 10:41 | Report Abuse

Forecasts are just forecasts...some of them eventually turn out to be waaaay off the mark...if I had listened to analysts, I would have bought it @8.80 when they set a target of 9.50 in 2018 lol

Posted by BradonOoi > 2023-02-21 10:57 | Report Abuse

Wait and see Genting's Q4 result this coming Thursday. Suppose to be better than Q3 I guess

Posted by neohts > 2023-02-21 11:43 | Report Abuse

https://www.thestar.com.my/aseanplus/aseanplus-news/2023/02/21/singapore-urges-china-to-restore-flights-connections-to-pre-covid-19-levels

Posted by James_Bond > 2023-02-21 12:10 | Report Abuse

Average up and bought at 4.82/ 4.83! Cheers!

Posted by MG9231 > 2023-02-21 12:10 | Report Abuse

Forecast is based on certain assumptions, analysts write up for fees or certain motives, readers never use their own head, take for granted, of course only way is blaming the analysts.
I beg for different, I appreciate analysts efforts and never blame what they write for my past years investment journey.

Posted by MG9231 > 2023-02-21 12:13 | Report Abuse

just like what has written so far by Dragon 328, I appreciate very much...thanks

Posted by dompeilee > 2023-02-21 12:14 | Report Abuse

I've never followed analysts ever in my life...except taking contrarian trade positions...if a billionaire followed all analysts recommendations, they would become a millionaire in short order ! HA

Posted by ThemePlay > 2023-02-21 12:16 |

Post removed.Why?

Posted by dompeilee > 2023-02-21 12:21 | Report Abuse

On the other hand, all 5 recommendations to my clients given Dec '22 all already went higher or reached their initial tgts ( JCY @ 15.5c, Petron @ 4.30, Panamy @ 23.00, Kenanga @ 91c, GUH @ 42c) with the last one to reach its initial tgt being GUH today :)

Posted by ClaraChan94 > 2023-02-21 13:40 | Report Abuse

No harm to read from analysts as reference. Then invest in your own risk after you had compiled the information and knowledge

Posted by emsvsi > 2023-02-21 13:48 | Report Abuse

DOMDOMPEILEE PLEASE DONT PROMOTE YOUR SERVICES HERE

Posted by StartOfTheBull > 2023-02-21 13:58 | Report Abuse

Genting, the king of the kings.

Posted by Riaz1954 > 2023-02-21 14:25 | Report Abuse

Analysts have conflict of interests….they promote shares they have interests in. That said we need to take other issues into account such as political risks as well related party interests. I think Genting is below NAV for a reason, and I think the main risk is party related transactions which quite often have nothing to do with business dynamics. Conclusion is analysts recommendations are one elements of many other information that you need to consider…..if it is worth a buy.

Posted by dompeilee > 2023-02-21 14:33 | Report Abuse

I don't consider dragon328 an analyst in the perjorative sense I meant earlier...yet a good analysis has to give sufficient highlights to the adverse scenarios(debt load in rising interest environment, recessionary drag on consumer spending, dishonest majority shareholder etc etc)

Posted by neohts > 2023-02-21 14:46 | Report Abuse

why selling down when we know Q4 2022 result going to be good ?

Posted by AngTayKor > 2023-02-21 14:46 | Report Abuse

Casino Royale Fund still buying? No power leh.

Posted by dompeilee > 2023-02-21 14:53 | Report Abuse

Rampant insider trading in these cap ayam mkts

Posted by neohts > 2023-02-21 19:02 | Report Abuse

https://www.asgam.com/index.php/2023/02/20/genting-singapore-2022-profit-climbs-to-us258-million-as-resorts-world-sentosa-revenues-soar-in-h2/

Posted by RWG > 2023-02-21 19:25 | Report Abuse

all afraid of budget 2023, lge will ask anwar hoot 9696 tax on genting

Posted by AngTayKor > 2023-02-21 23:25 | Report Abuse

Posted by James_Bond > 1 day ago | Report Abuse
Don’t worry, casino royal fund supporting!
Those shorties will face the music! Mark my words!
Don’t you mess up with Casino Royale fund!
Personally expecting panic buying for Genting Berhad tomorrow! Cheers!
--------------------------------------------

No panic buying today leh. Tomorrow can show us Casino Royale Fund's power ok? Place 1m shares at 4.80 buy queue and another 1m shares at 4.79 buy queue, confirm can support the price and induce massive short coverings :p

Posted by AngTayKor > 2023-02-21 23:55 | Report Abuse

https://m.toutiao.com/article/7202512663753474572/?upstream_biz=toutiao_pc

Some history of Taurx n the founders

Posted by James_Bond > 2023-02-22 04:18 | Report Abuse

Personally has been buying Genting Berhad shares from 4.3+ all the way up to 5+ and now 4.8+ to fight against those shorties! Don’t you see that Genting still closed green on 21/2/2023?

Lawan tetap Lawan. Cheers!

Posted by Nepo > 2023-02-22 09:10 | Report Abuse

Hopefully more & more buyers like @JamesBond strong believer to strongly support the share price @ RM 4.78..

Posted by DestinyL > 2023-02-22 09:13 | Report Abuse

Too bad didn't sell much at 5.11. Bought back at 4.75

Posted by neohts > 2023-02-22 10:10 | Report Abuse

https://klse.i3investor.com/web/blog/detail/PublicInvest/2023-02-21-story-h-298139143-Genting_Berhad_GENS_Recovery_Gaining_Momentum

Genting Berhad - GENS: Recovery Gaining Momentum.
Maintain Outperform with an unchanged TP of RM5.80.

Posted by emsvsi > 2023-02-22 10:16 | Report Abuse

WHATS HAPPENING

Posted by neohts > 2023-02-22 10:23 | Report Abuse

Why selling when you know tomorrow result going to be very good.
Waiting for good dividend.

Posted by AngTayKor > 2023-02-22 10:28 | Report Abuse

Posted by emsvsi > 1 week ago | Report Abuse
YES RM5 ULTIMATE SUPPORT BUY WITH ULTIMATE CONFIDENCE
YES WAIT FOR THE NEXT SURGE !
YES HOLDING STEADY ! PREPARING FOR LIFTOFF SKYROCKET
STRONG CLOSING UPTREND IS INTACT AND UNSTOPPABLE OWNINGGG
STRONG CLOSING ! NEXT WEEK SKYROCKET
YES BUY THE DIP !
YES CONSOLIDATION IS ALMOST OVER ! SKYROCKET SOON
---------------------------------------------------------------

Yes a lot of people here also want to know what is happening.

Posted by nicholas99 > 2023-02-22 10:29 | Report Abuse

also, news out then selling start. haha

Posted by BradonOoi > 2023-02-22 10:35 | Report Abuse

Typical sell on good news...

Posted by RWG > 2023-02-22 10:55 | Report Abuse

malaysia madani also cannot make malaysia great again

Posted by DestinyL > 2023-02-22 10:55 | Report Abuse

When you've watched Genting trend for so many years, you already can sense the evil lurking when the price is reaching a recent high
Based on that alone, I dare not take much profit, hence only sold very little

Posted by RWG > 2023-02-22 10:55 | Report Abuse

better support PN BEST!!!