Genting Sing    Last:0.73    -0.025

GenSp starts to move up again

You answered me before I ask.  Thanks.

risktaker      ( Date: 09-Sep-2009 16:42) Posted: TP: 1.4 -1.6 - Still Valid Buy - I can tell you a lot of people are so eager to buy the rights. HUAT ah 8888

 

Based on unchanged expectations of future performances, what is the new target px for genting?

 

TP: 1.4 -1.6 - Still Valid

Buy - I can tell you a lot of people are so eager to buy the rights.

HUAT ah 8888

 

 

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.

 

Leong3k, my holding is also less than 80 cents but I see it as an opportunity to load more genting for long term view given that it has risen considerable and there are positive vibes about this share at this moment. People are all buying hope.

Cathylmg, pls consider all TP comments carefully. You should know by know that being a veteran on this site. It's easy for anyone of us here to make any claims on the share but that doesn't represent the market view. It's only a personal view???? Only when it's realised then it's proven.

I learnt my lesson and always trust yourself and your own judgement.

cathylmg      ( Date: 09-Sep-2009 16:26) Posted: How do you know? btw you tp of $1.40 with this year still valid? risktaker      ( Date: 09-Sep-2009 16:24) Posted: Buy la :)  - Buyer = HUAT

 

strictly my opinion only.

i would subscribe to the rights issue unless the price has dropped to below 0.80

my guess is that the price may open at around 1.125 when trading resumes, perhaps tomorrow 9am 

leong3k      ( Date: 09-Sep-2009 16:19) Posted: I bought this share below 0.8 , if i accept this right my average price become higher ,any senior or expert can advise take or sell...thx

 

as long as IR has yet to be opened and functionally "fictional"...i will SHORT it !! as this burger is still loosing $$ ! :D i guess this Rights issue will attract a diversified of GAMBLERS to punt ! :P

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.

 

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.

 

How do you know? btw you tp of $1.40 with this year still valid?

risktaker      ( Date: 09-Sep-2009 16:24) Posted: Buy la :)  - Buyer = HUAT leong3k      ( Date: 09-Sep-2009 16:19) Posted: I bought this share below 0.8 , if i accept this right my average price become higher ,any senior or expert can advise take or sell...thx

 

At least ruled out d dirty trick done by d Dim gang lately.

G SP opt since end 2005. See only small profit, not fr IR, in 050 n 06.

FY07 -381m; FY08--124m; and 1H09 dip 82m. D losses mainly attributed to England biz n other writedown. And ds burger will continuing pulling G SP legs.

Genting Bhd, Msia got 54% holding of G SP, got speaking right over G SP? Its biz n profit fell. It needs fund to beautify its FY 09 balance sheet as well.How loh?

Ah yoh, couples with other inputs fr sifus, AK too worry liao. Just relax loh, bo poian mah. Be happy. Above no calling. Cheers.

 

 

Buy la :)  - Buyer = HUAT

leong3k      ( Date: 09-Sep-2009 16:19) Posted: I bought this share below 0.8 , if i accept this right my average price become higher ,any senior or expert can advise take or sell...thx

 

I bought this share below 0.8 , if i accept this right my average price become higher ,any senior or expert can advise take or sell...thx

 

In short, as long as there are suckers willing to chase the share price up, they would be more than happy to take their money. Once the novelty of the casino wears off, it'll be show time.

vostro69      ( Date: 09-Sep-2009 16:10) Posted: for those holding genting, the news from the market doesn't sound encouraging. read on ..... "Genting Singapore (G13.SG) may drop on trade resumption as investors price in dilution from rights issue. Gaming company''s shares halted today, closed +1.7% at S$1.19 yesterday. No official announcement yet, but 2 people familiar with the situation say Genting planning to raise about US$1 billion in rights issue. "The plan is to raise about US$1 billion and it should be announced today," says one source. If company does raise US$1 billion, this would equate to around 12.5% of its current market cap. Genting Singapore is opening casino-resort on Singapore''s Sentosa island early next year, will have to meet interest payments on the large construction costs in coming years, so rights issue would give it extra financial flexibility. Dealer says company likely taking advantage of the recent run up in its share price, with stock +164% since start of year. "They would be stupid not to do it, they''ve got the chance to lock in financing at cheap rates." (KIG)

 

I think they r smart to do the rights issue first before the license issue. The latter will be a catalyst to push it up later. 

 

more news on genting. this is on their parent company, genting bhd malaysia:

"Genting Bhd., Asia’s biggest listed casino operator, fell the most in more than a month in Kuala Lumpur trading after Thomson Reuters reported that the company’s Singapore unit plans to raise more than US$1 billion ($1.42 billion) through a rights offer.

Shares of Genting slid 3.2% to 6.94 ringgit ($2.83) at 12:25 p.m., set for the steepest decline since July 29. The stock is also poised to be the biggest decliner on the benchmark FTSE Bursa Malaysia KLCI Index today.

A rights offer would mean the company’s “cashflow will be diverted to finance Genting Singapore,” Raymond Tang, who oversees US$5.8 billion as chief investment officer at CIMB- Principal Asset Management Bhd. in Kuala Lumpur, said in an interview today. ‘The concern is that less money will be paid out to shareholders” in terms of dividends, he said.

Genting Singapore Plc today requested a halt in the trading of its stock pending an announcement. It is spending $6.6 billion to build one of two casino-resorts in Singapore allowed by the government. The subsidiary’s rights offer is being arranged by banks including UBS AG and JPMorgan Chase & Co., Thomson Reuters reported today, citing unidentified sources.

Genting spokesman Justin Leong couldn’t be immediately reached for comment today.

Shares of Genting Singapore surged to a record yesterday on speculation its casino will open ahead of schedule. The stock has more than doubled this year, compared with a 50% gain in the local benchmark index."

 

for those holding genting, the news from the market doesn't sound encouraging. read on .....

"Genting Singapore (G13.SG) may drop on trade resumption as investors price in dilution from rights issue. Gaming company''s shares halted today, closed +1.7% at S$1.19 yesterday. No official announcement yet, but 2 people familiar with the situation say Genting planning to raise about US$1 billion in rights issue. "The plan is to raise about US$1 billion and it should be announced today," says one source. If company does raise US$1 billion, this would equate to around 12.5% of its current market cap. Genting Singapore is opening casino-resort on Singapore''s Sentosa island early next year, will have to meet interest payments on the large construction costs in coming years, so rights issue would give it extra financial flexibility. Dealer says company likely taking advantage of the recent run up in its share price, with stock +164% since start of year. "They would be stupid not to do it, they''ve got the chance to lock in financing at cheap rates." (KIG)

 

 

The dust has settled. 

It's a good thing, this rights issue.

Money put to good use (eg. acquisitions) will mean bigger things for this counter. Now only a big fish in a smallish pond.  

I'm happy. 

 

Ha ha , R issue on ds burger, dun play play.

2007, it offers 3R for eh 5 holding, at $0.60. 2005 ah, 5R for 3 holding at 0.13.

I got 72R n app double excess of 150, big wok, kena 108.

Now, is 1R for 5, at $0.80. Pseudo effective px at 1.125, it is not a realistic one basing on d market pushing ds burger surplus $0.80 on 23 Jul 09, owing to so-call coy good sentiment n prospect. Not forgetting d $0.72 share dump saga on 27 May 09.

Nonetheless, d good sentiment n prospect would be still ard even its lifted d sus, in due course. On d other hand, if u r holding d balance one which was secured below 0.80, then u hv much room for consideration loh.

Anyway, above AK views only, 2Ys apply. Cheers.

loyfam88      ( Date: 09-Sep-2009 15:27) Posted: Can we apply for excess rights and does it usually get alloted or based on take up rate?

 

One question. The moment it opens. It will be cum-rights. If we were to buy 10 lots now, we will be entitled to 2 lots of rights at 80 cents. Eg. if the opening price is $1, is it worthwhile to go in???? I suppose the price will only drop when it is ex-rights but that's only because we've gotten the rights..

How does rights work? Is it traded as a separate share or we will be given additional lots into the mother share based on the amount we subscribe???

 

 

5 * $1.19 closing price + $0.80 =$6.75

$6.75 / 6 = $1.125

Get it...

loyfam88      ( Date: 09-Sep-2009 15:25) Posted: What do you mean by the avg price of 1.125???? ruanlai      ( Date: 09-Sep-2009 14:58) Posted: Average will be $1.125.   So the opening still have room to push up......further to $1.24....   Huat lar....