Genting Sing    Last:0.725    -0.01

GenSp starts to move up again

But actually my guts tell me Genting may still up. u people are too worrying.

But if drop (speculates by u guys) also good.

Drop to something like transcu will be best. Drop until around 0.12. All will be happy including Dealer

 

 

 

Genting Berhad holds 54% of Genting Spore, today GB drops >3%, so GS may drop by at least 3/0.54 = 5.6 % hopping no other bad news.

 

Business Times - 09 Sep 2009


Update: Genting S'pore plans US$1b rights

* Possible cost overrun at Singapore casino: AmResearch

* Genting Bhd shares fall more than 3% in Kuala Lumpur

SINGAPORE - Casino operator Genting Singapore plans to raise more than US$1 billion through a rights issue to help fund a casino and build a war chest for possible acquisitions, sources said on Wednesday.

'It's a big issue. Over US$1 billion,' a source with direct knowledge of the deal told Reuters. Genting shares were suspended earlier on Wednesday.

Genting's fund-raising is set against a backdrop of casino firms keen to take advantage of rising Asian stock markets and tap investor interest in the region's growing casino business.

Las Vegas Sands, the world's most valuable casino firm, plans to spin off its Macau operations in a Hong Kong initial public offering to raise as much as US$3 billion, while Wynn Resorts is expected to list its Macau business in the fourth quarter.

Genting Singapore's rights issue was likely prompted by cost overruns at the Resorts World at Sentosa casino that it is building in the city-state, AmResearch said in a note.

'Our channel checks point to a potential rights issue. However, as Genting Singapore still has sufficient funds ... we suspect that development cost of Resorts World Sentosa could have exceeded its budgeted cost of $6.59 billion,' it said.

Shares in Malaysian-listed casino operator Genting Bhd dropped more than 3 per cent, while the main index was off 0.5 per cent.

Genting Singapore, about 54 percent-owned by Genting Bhd, is building one of the republic's two integrated resorts. It is also the largest casino operator in the United Kingdom.

Genting Singapore shares have more than doubled this year, and closed at $1.19 on Tuesday.

The firm has been reporting losses since it listed in Singapore in December 2005, hit by the cost of building the Singapore casino and writedowns related to its purchase of casinos in Britain.

It posted a second-quarter net loss of $50.7 million.

Genting's Resorts World at Sentosa casino has been plagued by cost overruns due to the escalating price of steel and other building materials.

The latest cost estimate is about $6.6 billion ($4.6 billion), more than the $5.2 billion price tag cited shortly after the firm won the Singapore bid in December 2006.

Genting Singapore's rights issue will be underwritten by about eight banks, including UBS, JPMorgan, DBS, Deutsche Bank and HSBC, sources said. -- REUTERS 

 

 

I bought 30 lots at 29.5cts, that's the lowest I could get, he..he..

On this rights issue, I think I will sell off 100 lots at $1.1 & buy back 100 rights allocated to me, that will give me a profit of $30,000.

kuang3      ( Date: 09-Sep-2009 17:09) Posted: off topic: how i wish i bought genting when the price is still wandering at 0.25cents!! my fren asked me to buy some during that time, but i simply have no $$$. he bought 40 lots at that price, still holding now.

 

your on the right track :)

Anyway Just Buy the rights and enjoyed the free ride. BUY & HOLD is the only 2 smart options now :)

Huat 8888

TP: $1.6 - $2.0 

teeth53      ( Date: 09-Sep-2009 21:16) Posted: Asking BBs to pay a billion sing dollars with an under taking to guarantee, maybe too much and if there is no one taking up, placement of share is like IPO-ing, so a better solution is ask everyone to pay, so asking BBs to push price up, where got problem. NO problem Boss. BBs can oso make money in this way. teeth53      ( Date: 09-Sep-2009 20:43) Posted: Those bot beyond $1.19, very Jialat, those bot below $1.19, oso jialat, those bot lees than $1.00 is ok only, strike px offer is 0.80ct. 5 for 1 (not free), 0.80 cents lehh. Knowing for 4 days run up till $1.24 cent and don't know what can happen next couple of days, as owner. i will oso call for right (all been pre-prepare), but if i am owner. I can oso call for placement of shares to BBs, (better for me) Imagine bot 5 lots for $1.19ct ($5,950), pay another $800, total is 6,750/6 lots (average is $1.125 ct). one have to pray hard px don't drop below $1.25 ct (lose money liao)

 

Asking BBs to pay a billion sing dollars with an under taking to guarantee, maybe too much and if there is no one taking up, placement of share is like IPO-ing, so a better solution is ask everyone to pay, so asking BBs to push price up, where got problem. NO problem Boss. BBs can oso make money in this way.

teeth53      ( Date: 09-Sep-2009 20:43) Posted: Those bot beyond $1.19, very Jialat, those bot below $1.19, oso jialat, those bot lees than $1.00 is ok only, strike px offer is 0.80ct. 5 for 1 (not free), 0.80 cents lehh. Knowing for 4 days run up till $1.24 cent and don't know what can happen next couple of days, as owner. i will oso call for right (all been pre-prepare), but if i am owner. I can oso call for placement of shares to BBs, (better for me) Imagine bot 5 lots for $1.19ct ($5,950), pay another $800, total is 6,750/6 lots (average is $1.125 ct). one have to pray hard px don't drop below $1.25 ct (lose money liao) DnApeh      ( Date: 09-Sep-2009 20:14) Posted: BB also want to buy as cheap as possible, right

 

Tomorrow opening BBs start to grap from $1.20 onwards .......

Will not only surprise the shortists and also will give the investors confidents on Genting IR as other is having jalat problem......

Let's see.....whether our eyes will drop not....

 

continue...and (c) usually applicable for foreigners (pls read the announcement), they can arrange their rights shares to be disposed of at a cost (admin)

 

no. CDP is not there to trade for anybody. You hv to trade yourself.

if you are still holding on to your share & do not wish to subscribe the rights shares, then it's best you sell your rights between 28Sep till 6Oct, this is to realise profit/capital gain immediately as the rights shares is given to you at no cost (in order to compensate for the dilution of your own current shares holding). Calculate yourself how many rights shares you would have been allotted. As per the announcement, the book closure date (XDate) stated is 23Sep, that means after 23Sep, you will probably receive in your mail a notice how many rights shares your are entitled to & have been deposited to your cdp acc. Otherwise you can check online via your cdp account of the finalised number, keep checking either on 24, 25th or 28Sep.

There will be a separate counter for this rights shares. Check with your remisier if you are not sure. You can trade:

(a) call up your remisier & instruct him/her to sell your rights shares at a price you want, check the price movement between 28Sep till 6Oct.

(b) you can trade yourself via your usual online trading, ONLY IF it is not odd lot. For odd lot, you will still hv to go thru your remisier as odd lot has its own 'odd lot mkt'.

hope this helps.

daniel2356      ( Date: 09-Sep-2009 16:42) Posted: For no. 3 ,I think CDP will sell if you do nothing. jonathant      ( Date: 09-Sep-2009 16:28) Posted: You have 3 options: (1) For every 5 shares you hold from now till XDate, you are entitled to subscribe 1 share at discounted price S$0.80. You prepare the money. (2) It is renounceable rights – If you still hold your current shares & do not wish to subscribe the rights shares (perhaps you do not have extra money), you can trade your nil-paid rights (nil-paid means at no cost to you/you did not pay for this rights shares, it’s given to you) between 28Sep till 6Oct09 (7 working days). (3) Hold your current shares. Do nothing - don’t subscribe & don’t trade, and you will lose your given rights (rights shares at discounted price) or capital gains (renounceable rights that can be sold). Don’t be surprise, there are some aunties/uncles who are clueless of stock trading other than buy & sell & dividend, etc. There is still upside potential for Genting, simply because everybody knew it’s matter of time when the co will announce it is applying for the gaming licence, then it will announce it has been approved, then the opening, and so on. This round of rights issue is different from last rounds, as the timing, closing price, market sentiment on this counter, as well as global market sentiment are different. To announce the planned rights issue now before the announcement of gaming licence is well-timed. Genting is a fundamentally strong company, why worry? Punters & Short term investors may exit. Long term investor will hold. Those who miss the boat, welcome aboard.

 

Genting will open @ $1.125 like i say weak holders, contra players, shorters will started to dump. BB will step in and eating them up silently.
BTW Genting Never touch $1.24. Its highest is $1.21 and close @ $1.19

This is just another beginining of another Rally of Genting.
The chance of touching $1.00 or below $1.00 is EXTREMELY unlikely. 

Remember my 6 months TP: $1.6 - $2.0 (Feb 2010)

Buyers = HUAT 8888

 

The best part is to sell B4 the news (above $1.19ct), cos after the news many can still wait to get trap, while for some can wait till for ex-right ps, then again start all over again, this time calling for, just imagine Genting Sp getting the license will do and rumour will allow retail players to start chasing those prices till another 50% to 100% higher then their price, then let go again.

The low of Genting is around just 0.60 + to 0.63ctfor the last round. 

ronleech      ( Date: 09-Sep-2009 20:26) Posted: i foresee a bad tumble tomorrow...very very bad

 

Hope that the Third Surprise would not happen, otherwise lagi jialat.

Sporeguy      ( Date: 09-Sep-2009 20:24) Posted: Got uneasy feeling regarding this company. The other IR got some problems many months earlier. I was wondering why Genting has no problem. Moreover i do not think 2 IRs can survive in spore, at most one. After the 1st surprise (main share-holder selling cheap)  plus all the bad news regarding Star Cruise and Stanley Ho of Macao, followed by this 2nd surprise, don't surprise there will be a Third Surprise --- which will make many investor wary.

 

possible cup and handle formation coming up then.

 

Those bot beyond $1.19, very Jialat, those bot below $1.19, oso jialat, those bot lees than $1.00 is ok only, strike px offer is 0.80ct. 5 for 1 (not free), 0.80 cents lehh. Knowing for 4 days run up till $1.24 cent and don't know what can happen next couple of days, as owner. i will oso call for right (all been pre-prepare), but if i am owner. I can oso call for placement of shares to BBs, (better for me)

Imagine bot 5 lots for $1.19ct ($5,950), pay another $800, total is 6,750/6 lots (average is $1.125 ct). one have to pray hard px don't drop below $1.25 ct (lose money liao)

DnApeh      ( Date: 09-Sep-2009 20:14) Posted: BB also want to buy as cheap as possible, right? risktaker      ( Date: 09-Sep-2009 20:10) Posted: Genting will still rally up testing $1.4 - $1.6 range. No doubt when opening tomorrow "Contra players / Weak holders / Shorters" Will start shorting it down or selling down. Do you think BB that holding Genting will let it people dump this baby ? Buyer = HUAT 8888 Shorters/ Sellers = AiWan la

 

Genting wanted to raise funds. The 8 Bank know it to make the right issue work, they have to maintain the price discount margin otherwise no one will purchase the rights.

1) Upbeat of the economy and Casino business turn around has rise the Revenue Forecast for Genting Int. Its no long a shaky investment compare to 6 months ago.  The Licensing news will be announce pretty soon. 

TP: $1.60 - $2.00 within 6 months from now

HUAT ah. 8888

DnApeh      ( Date: 09-Sep-2009 20:14) Posted: BB also want to buy as cheap as possible, right? risktaker      ( Date: 09-Sep-2009 20:10) Posted: Genting will still rally up testing $1.4 - $1.6 range. No doubt when opening tomorrow "Contra players / Weak holders / Shorters" Will start shorting it down or selling down. Do you think BB that holding Genting will let it people dump this baby ? Buyer = HUAT 8888 Shorters/ Sellers = AiWan la

 

i foresee a bad tumble tomorrow...very very bad

 

sorry I am just too new to this, what is the use for excess R? tried to google for more info but can't ready understand leh. 

KIMPEK      ( Date: 09-Sep-2009 17:56) Posted: You already got 2 lots, if you don't sell this 2 lots, you are entitle to 400R, you can subscribe to excess R, The no. of Excess R allocated is depends on the market responses... Althernatively, you can sell you R, once it is allocated to you .. Good Luck!!!     kuang3      ( Date: 09-Sep-2009 17:21) Posted: so bro meaning the next lot i buy, i will enjoy 400 shares at 80cents and the balance of 600 shares@market price? i think this assumption is wrong, can you advise?

 

Same concern here, if i holding 20 lots, then am i entitle to purchase 5 lots of Genting right? Hows the progress look like?

Please advise.

Micheal      ( Date: 09-Sep-2009 18:08) Posted: I'm new here. Need help from you guys. I'm holding 5 lots of shares now, so I'm entitled to 1 lot of R. Does that mean that I've to pay $800 for this lot. How's the process like?

 

Got uneasy feeling regarding this company. The other IR got some problems many months earlier. I was wondering why Genting has no problem. Moreover i do not think 2 IRs can survive in spore, at most one. After the 1st surprise (main share-holder selling cheap)  plus all the bad news regarding Star Cruise and Stanley Ho of Macao, followed by this 2nd surprise, don't surprise there will be a Third Surprise --- which will make many investor wary.

 

People's memo is very short, chase share till high, high, then Lim the owner let go, prices drop to 0.62ct / 0.63ct.

Now chase price till $1.24ct and call for right at 0.80ct, so take those bot high, high, take care for next round to come. those BBs long oredi took their money liao, now oso want to buy cheap, cheap liao.

soloman      ( Date: 09-Sep-2009 19:28) Posted: A TRAP HAS BEEN SET BY RIGHTS ISSUE TOO MANY RIGHTS ISSUE ALL THOSE WHO BUY HIGH ARE TRAPPED