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Update: Genting pays US$100m for MGM stake
KUALA LUMPUR - Malaysian gaming group Genting has paid US$100 million for a 3.2 per cent stake in US casino operator MGM Mirage, an official from the US company said on Wednesday.
The stake was offered under a US$1 billion equity placement by MGM Mirage last month.
'We take this as a sign of great confidence in our company,' Alan Feldman, senior vice president of public affairs for MGM Mirage told Reuters.
Last month, Kuala Lumpur-based Genting and its unit Resorts World had subscribed for a combined US$100 million worth of notes issued by MGM Mirage.
The notes were part of MGM's US$1.5 billion fund-raising exercise to help settle its outstanding debts and for general corporate purposes.
Malaysian analysts had said the investments could pave the way for Genting to acquire a stake in MGM or take over the US casino operator's investment in MGM Grand Macau.
By 0159 GMT, Genting had fallen 0.8 per cent to RM5.95 a share in a wider market that gained 0.3 per cent. -- REUTERS
KUALA LUMPUR - Malaysian gaming group Genting has paid US$100 million for a 3.2 per cent stake in US casino operator MGM Mirage, an official from the US company said on Wednesday.
The stake was offered under a US$1 billion equity placement by MGM Mirage last month.
'We take this as a sign of great confidence in our company,' Alan Feldman, senior vice president of public affairs for MGM Mirage told Reuters.
Last month, Kuala Lumpur-based Genting and its unit Resorts World had subscribed for a combined US$100 million worth of notes issued by MGM Mirage.
The notes were part of MGM's US$1.5 billion fund-raising exercise to help settle its outstanding debts and for general corporate purposes.
Malaysian analysts had said the investments could pave the way for Genting to acquire a stake in MGM or take over the US casino operator's investment in MGM Grand Macau.
By 0159 GMT, Genting had fallen 0.8 per cent to RM5.95 a share in a wider market that gained 0.3 per cent. -- REUTERS
Btw i mean recovery in STI index, emm not Genting. Worry may confuse u guys.
dealer0168 ( Date: 09-Jun-2009 18:21) Posted:
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This few days seem like a correction, & people panic & throw their share. Its human factor again (fear).
But todays seems like correction is over & we can see some recovery.
Hopefully we see a better Genting tomorrow. Cheers.
many ppl are made to believe that this counter is doing a major correction therefore panic sell to cut loss & hope to buy in at lower price.
This method may be used on any counter when someone or group is selling to bring price low creating an illusion that price is nosediving and when it reached their target, they buy in and push price up significantly.
Killing two birds with one stone, kill those shortists & make hugh profit. I suspect straits asia is in the same situation these 2 days.
No vested interest in this counter, just my 2 cents.
There being the case, guess it should be good to buy some and keep now?
That is just PART 1.
It is for SOMEONE to ACCUMULATE HUGE AMOUNT of SCRIPTS at low low low low low low low low prices.
This is the ONLY WAY and NO OTHER WAYS........
This is the ONLY CHANCE and NO OTHER CHANCES........
Just ADD UP the number of shares ACCUMULATED so FAR since that 72 NIGHT.
HOLD ON to YOUR SCRIPTS if you STILL HAVE THEM.
DON'T be CONNED in SELLING THEM CHEAP.
SELLER who SOLD CHEAP will SURELY REGRET ####
when PART 2 starTS ........
* * * * * * * *
PART 2 will be coming SOON........
Just LOOK OUT........
The BUYing is NONE STOP!?
WHO is BUYING!?
WHO has so much money to BUY!?
WHY is so much money being spent on NON-STOP BUYING!?
WE DON'T KNOW WHAT WE DON'T KNOW!?
Referring to the example in the article, when the price shot up to $9, it was merely a smoke screen. The operators are not interested in $9. At $7, L's return is already very substantial from the initial price of $4.
HLJHLJ ( Date: 07-Jun-2009 00:59) Posted:
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Could you explain the followings which I don't understand from your article?
L shares worth $900 on paper but eventually after the sales it was$700. So less gain of 200 now.
Is L happy? He must have gained something in order to forgo the $200 loss of profit.
| trader88.sg ( Date: 06-Jun-2009 22:05) Posted: |
i thing i learned in stocks....nvr chase after a rising stock....many times 1 wil notice a company's stock rising....then he starts to monitor....by the time he bought it, it soon tumbles down or kana stuck....let it be if it rise...switch to other counters....unless one got a big appetite for risks
what's there to complain about conspiracy theory... They build the business and own the biggest shares. So they get the highest profit -- similarly if you list a business, you will also get the highest profit and shares.