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| Posted: 26-Aug-2009 23:06 Contact richtan * Quote this Post! | |
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The higher a bomb goes, the harder the impact when it drop. Those who buy now will be very tense, not knowing when the plug will be pulled. Real gambling stock, even the share price is like playing inside the casino, high bets, high risk. Anyway, good luck to those risk-takers |
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Posted: 26-Aug-2009 23:22 Contact richtan * Quote this Post! |
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Below is my chart analysis for sharing and exchange pointers. My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA. If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start making unconstructive comments and plse do not be so childish or lunatic as to abuse the rating system by rating it as "bad post", accumulating for yourself and your next generation, "bad" karma for your "bad" deeds. If u think it is a bad post, then be constructive and kindly post your TA for sharing. This is only my view n I may be right or wrong, so dyodd and SOBAYOR.  |
Aug 26, 2009
Genting Q2 net dips
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Genting,
Asia's largest casino operator, said the performance of its Malaysian
casino resort, a key earnings driver, may improve given improved
prospects for the economy. --PHOTO: REUTERS
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KUALA LUMPUR - MALAYSIAN conglomerate Genting reported on Wednesday lower quarterly earnings as the economic crisis hit its casinos and palm plantation businesses.
Genting, Asia's largest casino operator, said the performance of its Malaysian casino resort, a key earnings driver, may improve given improved prospects for the economy.
'With the forecast turnaround in the global economic outlook, the Genting Malaysia Group is cautiously optimistic (concerning) its prospects,' it said in a statement. But its casinos in the United Kingdom will remain weak due to the still gloomy economic outlook there, it said.
Second-quarter net profit fell 26 per cent from a year ago to RM214.49 million (S$87.9 million), said Genting. The company blamed a weaker luck factor at its Malaysian casino for the drop in profits.
'The Genting Highlands Resort experienced weaker luck ... in the premium players business' though volumes rose, said Genting, Malaysia's only casino operator. In the UK, higher revenue was offset by a weakening of the pound against the ringgit.
Analysts in Malaysia do not provide quarterly earnings forecasts, but 20 analysts polled by earnings tracker IBES ahead of the results projected Genting's full-year net profit at RM1.02 billion.
In June Genting bought a 3.2 per cent stake in MGM Mirage , the biggest casino operator on the Las Vegas Strip, sparking market talk Genting could buy out MGM's stake in its Macau's business.
Its unit Genting Singapore is building Singapore's second integrated casino resort and is also the largest casino operator in the United Kingdom.
Genting also has interests in oil palm plantations, power generation and property development. Its associate Star Cruises is Asia's largest cruise operator.
Genting shares have gained 78 per cent so far this year, outpacing the wider market's 34 per cent gain. They traded up 1.1 per cent ahead of the results announcement. -- REUTERS