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BBs coming liao
5000 lots eat up in just a second!
Watch out !
seems Genting start running backwards :)
Hi Steven, you can read the announcement by Genting for more info. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_9DEEDC9F65BCE6FE48257252007D3766/$file/AIP_Clarification.pdf?openelement
Will the GIL proposed convertible bonds 2012 offer for sale to their shareholders? If so, at what price and when? Anyone can help. Thanks.
L&T raised one possibility for the continued interest in the stock: the consolidation of Genting Group's gaming operations under Genting Internation (GIL), something along the lines of the recently-announced Wilmar-PPB deal, where Wilmar will issue new shares to shareholders of PPB, as consideration for the acquisition.
Under such a scenario, Genting Bhd is to sell its 57.625% stake in Resorts World to GIL in exchange for new GIL shares. And it makes eminent sense, given Resorts' low rating relative to GIL, especially at the rate GIL's price is surging.
Facilitating such a merger / consolidation, the Lim family owns a direct 32.2% stake in Genting Bhd, which in turn is the controlling shareholders of both Resorts World and GIL, with 57.6% and 54.78% stakes respectively. Resorts owns a direct 6.53% stake in GIL.)
#GIL has a market cap of $4026.5m, net profit of $110.4m and PER of 35.5x. *Resorts has a market cap of $6903.6m, net profit of $421.5m and PER of 16.4x.
# GIL's '05 profit included $114m "fair value gains on financial assets". Note also Stanley Leisure, which GIL recently acquired, reported net profit before extraordinary gains, of
11.8m pounds or $35.4m.
* Exchange rate of M$1=S$0.4352 used.
Go through motion....
All their reply is the same. Seems to be standard reply format and text. Seen a few of these and they all look the same to me.
Found this at SGX website released at around 1 plus in the afternoon:
QUERY REGARDING TRADING ACTIVITY
The Board of Directors of Genting International Public Limited Company (the ?Company?) refers to the letter dated 29 December 2006 from SGX regarding the substantial increase in the price of the Company?s shares recently. The Company?s response is as follows: -
Question 1: Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading? ? If yes, the information must be announced immediately.
Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading? ? If yes, the information must be announced immediately.Reply: We are not aware of any information not previously announced concerning the Company, its subsidiaries or associated companies, which if known, might explain the trading.
We are not aware of any information not previously announced concerning the Company, its subsidiaries or associated companies, which if known, might explain the trading.Question 2: Are you aware of any other possible explanation for the trading?
Are you aware of any other possible explanation for the trading?Reply: We are not aware of any other possible explanation for the trading.
We are not aware of any other possible explanation for the trading.Question 3: Can you confirm your compliance with the listing rules and, in particular, listing rule 703?
Can you confirm your compliance with the listing rules and, in particular, listing rule 703?Reply: We confirm our compliance with the listing rules and, in particular, listing rule 703.
We confirm our compliance with the listing rules and, in particular, listing rule 703.For and on behalf of the Board of
GENTING INTERNATIONAL PUBLIC LIMITED COMPANY
Mr Tan Hee Teck
Alternate Director/Chief Financial Officer
29 December 2006
I have sold off almost all at 0.845 early part of the morning when it fails to break thru the 0.865. Not bad for a few days work.
only left 10lots. prepare to cut loss (~0.825)
Note that: (This is a continuation gap formation).
The price target for a continuation gap (approximate) is
(0.76 - breakout at 0.64=0.12cents) = 0.76+0.12=~0.88cents.
Actually, i am expecting for a (sanku 3 gap;jargon,bear with me). But again, due to friday. It may have stop the formation,hence i just let go.
Good luck to all =) & happy new year.
Market has a rumour, only a rumour : that if it issue placement share or whatsoever, maybe GIC will take it, after all this is the only way it will get an involved stake in this IR project !!! This could be someone is making a wild guess.
Good Luck and happy year 2007 !!!!!!!!!
Disclaimer : I am not responsible for whatsoever happen for this counter if anyone suffer any lost when they follow this piece of news !!!
Yes, combining the fibo, the MACD and Stochastic. It is is highly unlikely it will go to next level. Like I said in previous post, it need to rest(which is wave 4 retracement i am talking about but different enter level now). Well, nothing is for sure but this is how it should proceed.
I know nothing abt fibo analysis. But simple intra day MACD and Stochastic say it is a bit on the high side. Momentum Movement will be at sideway if not down. I have already take my profit from yesterday position after confirming the price is moving sideway. My 3 cts worth. I could be wrong when the market re-open in the afternoon, last 3 hr of trading for 2006. I will think it is a good time to close the book for the year for traders who have profitted from this counter.
so what is the take for this counter.....
Well, its sure logical in terms of technical analysis.
Seems like the fibo level is showing its magic again. Hit fibo level 2.618 @ about 0.86 and it start to show its power and price start to fall. If it can break this level, then we will be looking at fibo level 4.618 @ about xx(did not calculate it yet) which is highly unlikely, i think it need a rest first.
Well, its sure logical in terms of technical analysis.
Seems like the fibo level is showing its magic again. Hit fibo level 2.618 @ about 0.86 and it start to show its power and price start to fall. If it can break this level, then we will be looking at fibo level 4.618 @ about xx(did not calculate it yet) which is highly unlikely, i think it need a rest first.
| G13 | GENTING INTL | SGX | 0.850 | +0.110 | 1,288,000 | 0.845 | 0.850 | 1,643,000 | 0.850 | 0.765 | 91,069,000 |
It has defied all logic.. Even for ihatcoy who bought back at 0.71 it's already almost 20% profit. Cheers... what a way to end the 'old year'
DJ MARKET TALK: Genting Intl May Edge Higher;Funds Piling In
0038 GMT [Dow Jones] Genting International (G13.SG) may edge higher
although stock has vaulted 26.5% over past 2 sessions to close yesterday
at S$0.74; foreign funds have been "piling into the stock", possibly
seeing it as cheaply valued vs overseas casino peers, says dealer at
international bank. Adds investors who''re optimistic on company because
of its winning bid to build casino-resort in Sentosa may not be factoring
some of the risks such as execution problems, interest rate risk as S$5.2
billion project is two thirds debt funded. Other traders say stock has
been driven by speculation it will be included in Singapore MSCI index;
stock could fall to S$0.59 if current euphoria fades. Large bids at
S$0.74-75, large offers at S$0.75-78.(WES)
"What does 'projec into fibo ext 1.618' and 'fibo retracement of 50%' mean?"
Its a study of chart using Fibonacci. You can google on it to find out more.
"do you mean that genting after hitting 0.74 (or in this cse 0.74) will dip to 0.63?"
Only if wave 3 is at around 0.75 and retrace back to below 0.70 level. Else this wave 3 can well be 2.618 long @ about 0.86+-. By the way, wave 2 is very short and simple, therefore this wave 4 can be very complex with many up and down, which mean difficult to predict. Have to observe if it start to fall.
"Your elliot wave count price of m0.73 posted at 10.31 this morning was almost spot-on at closing which was 0.74."
Ya, most of the time, fibo is very accurate. 0.73 is just round off from 0.734. Actual range is about 0.73 to 0.76 (Have to +- a bit here and there from wave 1 and 2).
It will fall back to cover the gap between 0.645 to 0.66 but how much deeper it will fall depends.
It would be nice to invite shplayer, (our resident FA sifu :) to do an FA piece on Gen Int.