Next year Genting will launch its theme park, there will be a sky way (400k sqft) for people to operate (opening up fnb chains and retail shop lots), OWG's business currently has 30k sqf in Genting, if they can get 10% of 400k sqft, that will double their revenue
To have a grasp, current revenue from Genting is 80% of the total group, so expect everything to double next year, and PE to rerate - a proxy to Genting (fnb), equivalent to Starbucks, Bjfood is trading at 23-24x P/E, OWG can surely match at 20x.
Besides this, Komtar top 6 floors are revamping up to have a sky view and some fnb shops lots, this will be the main attraction in Penang for end of this year and next year, conservatively projecting 1 million visitors annually, that would be equivalent to RM20m revenue if ASP is about RM20, then people will dine there too, haven't included.
So expect rev and pat to double next year minimum, and also PE to go up, so you get both side revaluation.
but around 40 to 50% of OWG business is inside Genting Highland, so when the 20th century fox themepark re-open, OWG revenue may increase, my own opinion
from chart, its about 15 days accumulations/sidelines, then push down on 12oct, to break the support 2.24/2.23 but after that push up... then announce about the long term things... you think leh? lets see tomorrow if good move again as 2.46 closing seems not strong enough for the resistance but at least pushed to 2.53 (broken the high)
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hkhk
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Posted by hkhk > 2015-08-12 13:38 | Report Abuse
everyday new bargain.....