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Just for information, Resort world had offered to its shareholders a share offer of every 10 shares of resort world shares with one genting share @ 38cts & cut off date is 18 March.That explain the high volume & sell down as Resort world had 6% of gentings total capital in the market.
GentInt IPO was 0.25 cents in Dec 2005, if I am not mistaken. I missed it but at last I bought some at .52 cents onwards. I buy and sell on this counters since end Dec 2005. Last yr, GenInt given me all the Right shares I requested. I dumped 200lots of it at around 0.85 last yr. I further unload my last 129lots at 0.605 last Fri. I did that as I hv no more faith on him wait until end 2009 when IR is about to kick off Or the stock market awake again.
However, my hand itche again, Mon I bought in some at 0.6, 0.595 and 0.585. Alamah looking at today GenInt performance, sigh. If market goes down further ie as what the analyst said, STI support line at 2500, then price could be quite low, then we still not sure how low is low. Hence, don't touch GenInt at this moment. For me don't worry, I will buy in those lots.
Need to go out already. Cheers.
to all shorting kings/queens... let's short genting tml.. ok.. nicky will lead the charge...hehe
Genting has broken its 650cts support level...gone already..I recalled I bought a SRC at $15,000 and sold off for $40,000 when the club proposed rennovation with inclusion of indoor swimming pool and everyone anticipated $60k to $100k once rennovation is completed but once completed the price dropped drastically to below $15000 my original purchase price because mgt raised the monthly subscription.Of course not comparing apples with apples but the analogy is similar...after the 2010 year Genting shares may be worth even less than 56cts,bearing in mind it has o/s 8.7 billion scripts and with cost overruns expected to run into millions,its profits will be further eroded...cut and buy back cheaper maybe
AK_Francis..Can i say that if support break...the next resistance will freefall to 0.38-0.4? If so, we need to gather bear brothers to assist in shrting this "Int Resort"!!
personally i feel that Gen Int is overrated by many. The ban in smoking etc has already deal a huge decline in profit, and i remember reading in a lot of papers that in other countries genting is alrdy not making a profit.
But ppl are probably buying it because of the sentosa thing, but seriously how much actually can it make through sentosa when sg goverment set a rule that locals have to pay ard $100/ entrance to go in ? would u really go in ? maybe once or twice, after that i think its more worth to take boat to leisure cruise or wherever to gamble.
Ya many will argue that majority of the profit will be depending on foreigners, but obstructing the locals( singaporeans are known to be gamblers) from going in, have probably minus more then 1/4 of the profit. And with such a bad economy, do u think ppl will still consider travelling ? the americans probably would stay at home to guard there mortgage houses...
Furthermore Genting sentosa is different from genting highlands where ppl go there only to gamble, our main advertisement and main focus from sg government is to promote tourism. Which means that we will have many many others things to do other then gamble in sentosa, unlike genting highland where the whole mountain consist of a few pathetic shops and majority is still the casino.
Trading is to follow the wave.....You think you do not wanna to sell, the price will not drop meh....
Remember, if the price is dropping, you do not wanna to sell, got a lot of ppls going to sell down for you.
When you cannot hold, you will be the next one join the Q to sell down.....
SELL SELL SELL till STI hit 2500pts.
why in the world did it break that support? I don't hear any news
genting has broken its long-term support at 0.6... think tmr can start shorting this bugger. TP $0.5
i m a part time tour guide and i can feel the booming effects of the tourism rate personally...whenever i mentioned the IR Casino...the tourists often..WHhHHoooo...and also F1 race
Gentibng is well supported throughout
Tourism sector - can weather anything well
Drop of 0.5 cts cannot short lah
Aunties and uncles also supporting this one
For those who do not hold any of the GenInt share, you may consider to keep some once the stock price is +/- 1 cent on the Right Isssue price of $0.60. Just stand aside to observe, no hurry and worry. Cheers.
TA-wise, this counter looks slightly bearish. The price has just cut the bottom bollinger band.
My personal view is : Higher material and manpower cost would let the cost of construction higher. Many construction counters are affected. Profit margin reduced. US market is facing southward..... too many negative news......sideline and observe.
Construction contract will only have impact on stock prices on those undertaken contruction coy and not GenInt. I am still wondering why till now government still not yet award the Gambling Licence to GenInt despite government had approved the Resort contruction contract years ago. It will slow moving if the Licence issue is not settled.
BTW, the Right Issue for GenInt was $0.60. Imagine I was given 180000 Right Issue(including excess right) but now I still can't break even. Die die have to hold loh. Hope Rat's year will bring us luck. Cheers.
MARINA SANDS - 2009 to be completed
SENTOSA - early 2010 to be completed
When SANDS is up - Genting will get a big lift up already
Spore's economy & future will be dependent on tourism - i.e. IRs
by the way which year is the casino due to be completed.
Watch out for contracts award of 1.6 billion in Jan 08 soon
Execution is well done
Time saved in carparks construction as soil is firm - no need for piles
Save some time
When SANDS is up in 2009 this year, this one will also fly
Like our leaders say - 5 yrs , Spore will be in different platform
Due to IRs , etc
Every passing day towards IR opening , means greater strength for Genting, tourism, etc
In fact , Genting is tourism !
KIM ENG securities - construction, tourism related will weather STI drops well
China plays will be hit.
From Business Times & ST - 1/2 days ago