NEW YORK (BLOOMBERG) - Casino operator Genting Singapore is attracting takeover interest as tourists start coming back to the Asian travel hub, people with knowledge of the matter said.
US rival MGM Resorts International recently approached the firm's controlling shareholder, the billionaire Lim family, to express its interest in a deal, the people said.
While those discussions did not lead to an agreement, other potential suitors have also been in the preliminary stages of studying Genting Singapore, said the people, who asked not to be identified because the information is private.
Shares of the Singapore-listed company jumped on Friday morning (July 15), leading the Singapore Exchange to issue a query to the company on the "unusual price movements". The stock rose as much as 9.3 per cent in the morning, the most in nearly two years, before the company called for a trading halt at 1pm.
Genting Singapore share price has gone up from S$1.00 level to now S$1.18, adding RM3.83 billion of market cap to Genting Bhd's stakes or RM1.00 per share.
Genting Bhd share price should be following the rally to catch up at least 50% of such market cap increase from Genting Singapore, or go up by at least 50 sen to above RM5.00 level.
Biosensors Chairman Lu YuChie also has some Taurx shares. A nice guy with very polished English. Wasted he didn't sell Biosensors in late 2007 when JNJ offered a reasonably good price. I was very pissed abt that. Founders always think too highly of their company and not realistic abt the market. No doubt Biosensors had the best drug-eluting stent technology then but entering USA market is not so simple. Lu exited Biosensors at a much lower price to a China Fund some yrs later.
HerbalScience Robert Gow committed suicide in USA after he was charged with federal fraud charges. I knew Robert was a scam as he likes to talk big always craving for media attention.
Why is the mkt cap at such an ABSURD discount to even its holding of GenS ? Because of LKTahi's unforgivable backstabbing of minority shrholders of both Gent & GenM in 2019.The mkt rarely forgets & foreigners' forgiveness of such treachery takes years...
Posted by MoneyMakers > 3 weeks ago | Report Abuse Ding3 back to old 4.5 range - hopefully drop much2 lower Here no local support (sin biz) - foreign dump GenT die ----------------------------- Posted by dompeilee > 2 hours ago | Report Abuse Without foreign buying this stock is hopeless. ----------------------------
How come so many people always like to fear monger / blame bad things on foreigners?
The Board of Directors of GENT wishes to announce that GENT intends to seek the approval of its shareholders for the proposed renewal of authority for GENT to purchase its own shares of an amount which, when aggregated with the treasury shares, does not exceed 4% of GENT’s prevailing total number of issued shares at any time (“Proposed Share Buy-Back Renewal”) at the forthcoming AGM to be convened.
@ATK Yup, it's fair lah, every new investor/fund that he brings in will receive a cut of commission shared with broker. Without him, we also won't know about Taurx or have the confidence to invest into it. At the end of the day, its good to collect the profits but more importantly I hope the drug is able to be released to the public as a lot of aging investors whose health have deteriorated and needs this drug to sustain their neuro health. (My folks included)
Where got buy today, make big money tmr. Wait 3 - 4 yrs, then make money. Meantime, collect 8 divs along the way. Mkt now not like last time, easy fast money US econ going yo-yo, don't know up or down More likely down than up. Singapore econ strong, getting stronger More & More Billionaires going to Spore In nxt 6 yrs, S stks up due to strong growth
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....
ClaraChan94
439 posts
Posted by ClaraChan94 > 2023-03-31 18:01 | Report Abuse
Momentum seems like to have recovered for Genting