singapore operations truly helped..... all other sectors showed lower profit QoQ, except sing where increase was almost 500m of the 2.5b PBT..... we can all thank the sing gamblers :-)
Don't worry, GENM is predicted to drop a few sen, may rebound later, basically it is considered a dividend stock in future. Genting is different, when profit increasing, will be viewed as potential growth stock like ytlpower. Welcome ytlpower pofit taking fund entering Genting
The technical chart also showing golden cross, all the stars and planets aligned for Genting this time. Everything is just perfect!!!! Alhamdulillah!!!
Q2 Genting profit may be contributed by Genting Singapore with full 3 month Visa Free comparing 2 month in Q1, with slightly improved production in GENP, slight better sales from GENM, 600M profit is not a dream.
GenT has more value than GenM as its overseas portfolio is bearing fruits now, especially RWLV. Even though Genting Highlands is still its home, there’s a much bigger home abroad to cushion any adversities/threats fr PAS in Msia.
Key division performance is as expected with the bulk of the earnings contributed by Genting Singapore, and slightly improved EBITDA from Genm but slightly lower EBITDA from UK and US divisions compared to Q4 FY2023.
The key swing factors in Q1 FY2024 compared to Q4 FY2023 are: - absence of a disposal loss that improved PBT by RM69.9m in Q1 - lower impairment losses by RM51m - the last item called Others that swang from a loss of RM95m in Q4 FY23 to a gain of RM138m in Q1 FY24
These 3 items contributed additional PBT of RM350 million in Q1 FY2024 compared to Q4 FY23. But a higher loss by RM55m in Investments & Others (due to provision in Genm for forex loss) reduces this impact to RM300m pretax.
Overall performance is commendable and this shall set the tone for following quarters.
If this momentum continues, Genting may well register total EPS of 60 sen for FY2024.
How much shall the share price be? I would argue for a PER of 15x or RM9.00.
Wah, you are so optimistic. "Meanwhile, its 49%-owned Genting Malaysia Bhd (KL:GENM) is cautious about its near-term prospects for leisure and hospitality but........."
Zzzz, why Genting is not listed in NYSE, Genting price could have been RM 50 by now. Genting is like the ultimate hidden gem waiting to be discover. Tomorrow is time for Genting to shine.
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....
neohts
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Posted by neohts > 2024-05-30 18:41 | Report Abuse
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