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Genting SP Next Move
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skk888
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21-Nov-2012 01:35
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I was about to short this when they posted the results. But it seems like the company has enough loyalists to keep the price up. It's P/B is still high, but perhaps there's also good chance they can earn more in future. |
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yipyip
Master |
21-Nov-2012 00:51
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In case of anyone only read Genting's 3Q 2012 drop by -34.0% (y-o-y) on page 1 ..... you may want to see deeper into their P&L details (page 13 & 14):
Earning Per Share for 3Q end Sept: 2012 is 0.90cents. VS. 2011 is 1.71cents The EPS is drop as much as -47.3% (more share was issued) ! BOSAYOR http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_8A4155BACC6B709748257AB400360835/$file/GENS_Announcement_Q32012.pdf?openelement
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yipyip
Master |
20-Nov-2012 09:21
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Genting Singapore suffers massive drop in client count
-(Singapore Business Review) Looks like its 38% profit crash won't rebound. According to Maybank Kim Eng, GENS represented that business, especially mass market drop, from Singaporeans continues to fall due to the challenging domestic economy.......http://sg.finance.yahoo.com/news/genting-singapore-suffers-massive-drop-090300789.html |
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Juz_Invest
Member |
16-Nov-2012 19:12
Yells: "Price Up = Dont Be Happy! Price Down = Dont Be Sad." |
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Genting S’pore shares hit 2-year low
By Janice Melissa Thean of theedgemalaysia.com | The Edge KUALA LUMPUR: Hit by lower gaming volume and weak quarterly results, Genting Singapore plc stocks plunged to a two-year low of S$1.20 (RM3) on Wednesday before closing at S$1.21. Having recorded its high of S$2.35 two years ago on Nov 9, 2010, the stock has now fallen back to the level when it first opened Resorts World Sentosa in February 2010, displaying a reversal in fortune unlike its Macau casino peers whose stock remains at high levels. Genting Singapore’s net profit for the third quarter (3Q) contracted 16% quarter-on-quarter (q-o-q), or 34% year-on-year (y-o-y), to S$138.4 million, prompting the selldown. Revenue slipped 5% q-o-q or 16% y-o-y to S$670.2 million as a result of a dip in gaming business on lower volume. Its competitor, Marina Bay Sands Pte Ltd (a unit of Las Vegas Sands Corp or LVS), the only other casino operator in Singapore, also posted a 21.06% drop in net revenue to S$625.5 million for the quarter. Genting Singapore’s sister company Genting Malaysia Bhd, which operates the hilltop casino at Genting Highlands, has yet to announce its 3Q results. The company posted an 11.8% y-o-y gain in 2Q revenue to RM2.12 billion, while net profit grew 58% to RM495.8 million. JPMorgan, in its note dated Nov 8, said Genting Singapore shares [at S$1.26 on Nov 8] were trading at over 100% premium to Ebitda (earnings before interest, taxes, depreciation and amortisation) multiple and a 70% premium to earnings multiple to Genting Malaysia. “With a 26 times FY13 price-earnings ration (PER) and a minimal dividend yield, Genting Singapore is [also] trading at a 75% premium to the Macau names,” JPMorgan said, adding that for 3Q, Genting Singapore did not declare any dividend. Compared with Genting Singapore’s volatile earnings, Macau casino operators like Sands China Ltd, the Hong Kong-listed unit of LVS, Galaxy Entertainment Ltd and so on have consistently delivered strong results riding on healthy gaming revenue growth in the former Portuguese colony. RHB Research, in its note on Wednesday, said Genting Singapore’s casino revenue fell 14.8% y-o-y on a weaker economic environment, although non-gaming revenue rose 6.5% y-o-y due to contributions from the new hotels and improved occupancy rates. But Genting Singapore’s net profit was impaired by weak rolling chip volume, which declined 3% q-o-q, and a lower win percentage. “We note the management’s continued cautiousness in extending credit to players, implicitly reflecting its weak assessment on the global economic uncertainties. This had resulted in the weak rolling chip volumes, and thus, the profit discrepancy between our forecast and actual results,” said Affin IB Research. While Genting Singapore’s gaming operations dragged down results in the quarter, the company also incurred S$9.3 million in pre-opening expenses on its Marine Life Park (MLP) leisure component. According to OCBC Investment Research, there will be more start-up costs associated with the rollout of the remaining attractions like MLP. “Nevertheless, the management feels it is getting a better handle on the business dynamics and margin recovery should come in 2Q13,” it said in a research note on Wednesday. At an analysts’ briefing, Genting Singapore expressed excitement over the liberalisation of the Japanese gaming market, which it is confident will happen in 2013, with a change in the government. The potential new government [in Japan] is open to changing existing gaming legislations. RHB Research said Genting Singapore may face competition risk in the region “in view of the liberalisation of the Asian casino industry and the revitalisation of construction plans aborted previously in Macau. Affin IB downgraded Genting Singapore’s FY12 to FY13 core net profit by 16% on its vulnerability to Asia’s slowing economic growth at least in the first half of FY13. The research house said a key re-rating catalyst will be new gaming projects as management has indicated it has a war chest of S$4 billion at the holding level. RHB Research and Investment Research have “underperform” and “hold” calls on Genting Singapore respectively. RHB Research has a fair value of S$1.15, while OCBC’s fair value is S$1.33. JPMorgan has an “underweight” rating, slashing its target price from S$1.10 to S$1.00. This article first appeared in The Edge Financial Daily, on Nov 16, 2012. |
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New123
Elite |
03-Nov-2012 11:55
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expect the unexpected. they may post a better Q3. if not, then wait to pick up at $1.20 - $1.22
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wanglausern
Senior |
03-Nov-2012 00:42
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RWS very susah after Mabel Lee, President of high stakes gambling dept was pressured by CRA to resign in Aug. 100% RWS Q3 result will be worse than MBS.
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raykee
Senior |
03-Nov-2012 00:34
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it can also be better revenue from the hotels and USS too | ||||
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oldflyingfox
Master |
02-Nov-2012 23:59
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It's always hard to say, it could be those customers went to RWS instead. | ||||
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Peter_Pan
Supreme |
02-Nov-2012 12:25
Yells: "did you order dunkin' donuts" |
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Genting SP affected by MBS' lower-than-expected operating profitBy Ng Kai Ling |
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bishan22
Elite |
02-Nov-2012 09:45
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Many got trapped with yesterday " breakout" . 
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alooloo
Veteran |
02-Nov-2012 09:22
Yells: "I am not young enough to know everything. " |
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Las Vegas result.... http://www.reuters.com/article/2012/11/01/us-sands-earnings-idUSBRE8A01SB20121101 Singapore operation is suffering, luckily the exploding Macau help them, so the profit is remain the same... I think GentingSP result is more likely to be worse .... more downside pressure... |
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Bopanha
Master |
02-Nov-2012 09:20
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Freak trades brought it down, probably only temporarily. | ||||
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raykee
Senior |
01-Nov-2012 18:46
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this one really hard to phua lor.. everyweek the always in the band one.... | ||||
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khng2012
Master |
01-Nov-2012 15:32
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1 week only wor. Actually yesterday world no2 has reported Macau business is good and US business continue drop. Sand result shall be good since heavily expose in Macau. Singapore business is question mark.
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oldflyingfox
Master |
01-Nov-2012 15:28
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I think coming Sands S'pore result wil be good because of the F1. | ||||
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khng2012
Master |
01-Nov-2012 14:56
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You will know it tonight if today rally is tomorrow selling preparation. Sand report coming out tonight, will post here.
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bbwolf82
Member |
01-Nov-2012 14:53
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At least inching up... haha.. Hmm.. But is it a good sign? |
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raykee
Senior |
01-Nov-2012 11:18
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Still usual in the usual band leh plus 2mr is friday liao... Sian.. Tis week pass so fast with doj closing for 2 days... | ||||
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dicksonh
Veteran |
01-Nov-2012 10:51
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slowly moving up!! | ||||
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khng2012
Master |
01-Nov-2012 06:51
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http://news.investors.com/business/103112-631559-mgm-q3-profit-sales-fade-vegas-gambling-weak.htm
World no 2 release result. They are in loss and miss estimation but Macau revenue rise. |
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