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Pse take analyst's statement with a pinch of salt. A share's performance depends on mkt sentiments, rather than an analyst's research. If their recommendations are entirely to be depended on, they themselves will be rich.
downgrade by ML to underperform, TG US$0.50.
why sudden brake and going downwards...any comments!! jus vested @0.57 this morning.....!
It surged after the company said it would open a casino in Macau and sell a stake to Stanley Ho.
Ho is buying a stake in Star Cruises to tap into its plan to build the Sentosa IR. Star Cruises will gain access to Macau, which probably surpassed Las Vegas as the world's largest gambling hub last year.
"It's significant because it's the first step towards Macau, which is such an important gaming market," said Gan Huey Ling, an analyst AmSecurities Sdn. "It's not a big investment but a good first step."
Star Cruises agreed with Ho's Sociedade de Jogos de Macau on operating a casino in a boutique hotel to be built in Macau, the Hong Kong-based cruise line said in a statement to the city's stock exchange dated yesterday.
Star Cruises operates ships under its namesake brand, as well as Norwegian Cruise Line, Orient Lines and Cruise Ferries.
Ho's Profit Boom Investment Ltd. will buy 120 million new Star Cruises shares worth about HK$274.8 million (US$35 million). It will also be granted another 120 million share options valued at around HK$360 million, Star Cruises said.
Four other investors including Leong Angela On Kei, a shareholder of Sociedade de Jogos de Macau, will buy a further HK$309.2 million in new shares and HK$405 million in options.
Ho and the other investors will own a combined 6.99% of Star Cruises after the sale of the new shares and options is completed by early next month.
Macau's gambling industry boosted its income 22% last year to 55.9 billion patacas (US$6.95 billion), according to the industry regulator. That's probably enough for the city to surpass Las Vegas, said analysts including Morgan Stanley's Rob Hart.
Las Vegas Sands Corp., Wynn Resorts Ltd. and rivals are investing US$20 billion in Macau, a former Portuguese colony that became a special administrative region of China in 1999. The competition has reduced Ho's share of the city's gaming revenue since his four-decade-long monopoly ended in 2004.
"Ho needs a partner and Genting does have expertise in running casinos for the mass market," Loong Chee Wei, an analyst at CLSA Securities Malaysia in Kuala Lumpur, said before the announcement.
Mimi Chan, a spokeswoman for Ho's company, wasn't immediately reachable for comment.
Analysts including Alain Lai at UBS AG have said that Genting has transformed itself into a global gaming empire from a Malaysian company running a casino on a hilltop outside Kuala Lumpur. By heading northeast to Macau, the company widens that reach after buying a U.K. betting chain last year.
Genting took control of U.K. operator of betting shops Stanley Leisure Plc. Kuala Lumpur-based Genting also runs Malaysia-listed tourist center operator Resorts World Bhd.
Genting expects the development to generate $15 billion a year in tourist spending, and plans to invest $200 million a year to improve the project over three decades. The resort will have 1,830 hotel rooms, the world's largest aquarium and a Universal Studios theme park.
Dear lg1167,
I buy as much as I can, and hold to reach my predicted peak target price, perhaps this counter should be held for a decade, so I firmly decide to treat it as my static hyper long term core holding of my stocks portfolio.
Really admire your guts,,,,vested @0.55 and out within 15 mins @0.625...Thank you. I am considering to go in @0.58 for another round ...hopeful out by tomorrow. any comments.
Dear Punter2006.
Yes, I know. I always use local currency i.e. Sgd as my asset based calculation. Thank for your info. So, another potential up trend within this year is about 72% up to 88% in term of USD.
Hi Hulumas, for your info. StarCrus is trading in USD not Sgd..
Dear Readers,
I keep buying today. Will reach Sgd. 1.60 within 2007 and still gradualy on up trend for at least another decade to go. Probably, reaching Sgd. 10.00 or above would not be a problem in the long run!!!
am afraid dow's performance tonight will put a dampener on gil and starcrus tomorrow...any comments?
Should change the header liao
Yes, Genting and Star Cruise plan to open a Casino in Macau Yipeee!!!! Vested in both of them.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_F4265765227736CE4825726B0045D3E3/$file/GIPLC_ShhAgreement.pdf?openelement
Is this the long awaited news?
I seconded.
Maybe you should be someone? hikitty, since you are so concerned.
Some one shd direct ig1167's question to SGX in writing. There shd be a guideline for halts. Unprecedented - closed for such a long time.
Hi, this counter did close...anyone know when it is going to open!!!
Dear Hikitty,
Thank you, I shall do accordingly.
Dear Hulumas
God bless you for recognising value for money. For sure, your investment will be very safe, unlike other smaller companies with very PE, whose shares are very speculative. Price closing at 0.635 cents for the past few days. Its IPO price was 88 cts, which means that by purchasing at the current price of not more than 0.635 cents, your purchase price is more than a hefty 20% to its IPO price. .
God bless you for recognising value for money. For sure, your investment will be very safe, unlike other smaller companies with very PE, whose shares are very speculative. Price closing at 0.635 cents for the past few days. Its IPO price was 88 cts, which means that by purchasing at the current price of not more than 0.635 cents, your purchase price is more than a hefty 20% to its IPO price. .
Dear Hikitty,
Yes, LMA plan still on process. You may see the differences weekly, not daily.