Genting Singapore

[greengiraffe]

They are gamblers but for them to assume calculated risks means something...

I suspect that they are managing their excess cash that is pending deployment for the various high profile overseas projects.

Unfortunately its a reminder of the Lehman experience... risk mgt is one thing but actual outcome could be different when there is volatility...

best stay simple and focus on real business

They also bet on derivative products ?

[thinknotleft]

I prefer Genting HK to Genting Singapore. Vested in the HK one -- Genhk. Before Genhk disposes it's stake in US listed NCLH, recently, its NCLH was almost its whole mkt cap.

[mkmk]

Gentings FY15Q2 Results: http://infopub.sgx.com/FileOpen/GENS%20S...eID=364797

Question: There was a Profit Guidance on 4th Aug due mainly to fair value loss on derivative financial instruments as a result of unfavourable market conditions and unrealized foreign exchange translation losses.

However, based on the Results, Revenue fell by $172mil, Fair Value Loss on derivative financial instruments fell by $97mil, and unrealized foreign exchange translation losses increased by $70mil.

Hence, shouldn't the profit guidance have been for a decrease in revenue, rather than on investment losses?

[greengiraffe]

KT Lim's Genting Group wins right to boost stake in Echo Entertainment
DateSeptember 4, 2015

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Perry Williams
Senior Reporter

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Genting chairman KT Lim has been given approval to increase the Malaysian company's stake in Australian casino operator Echo Entertainment up to 23 per cent. Photo: Bloomberg

After a three year and three month wait, Malaysian gaming mogul KT Lim could become the largest investor in Australian casino operator Echo Entertainment within weeks, paving the way for a possible takeover tilt.
Mr Lim's Genting empire, which controls Asia's second-biggest gaming company, Genting Singapore, bought a 9.7 per cent stake in Echo in early 2012 without approaching the Echo board. 
That deal came shortly after rival James Packer's Crown Resorts snapped up a 10 per cent holding in a sharemarket raid. Crown later sold out of Echo in 2013. 
Sensing his opportunity, Mr Lim applied in June 2012 to the NSW government to lift Genting's stake beyond the mandated 10 per cent cap.
On Friday morning, after an 1165 day delay, Genting Hong Kong finally received its long-awaited approval. A few hours later Genting, perhaps understandably, said it has yet to decide if it will boost its stake.
Echo's largest shareholder, Colonial First State Global Asset Management, said it was difficult for the market to gauge Genting's intentions given the massive delay.
"Things have obviously changed a lot at Echo since 2012," said Marcus Fanning, head of Australian equities at Colonial. "Packer is gone; they have turned around The Star, invested in growth and they've won the Queen's Wharf tender."
The Independent Liquor and Gaming Authority, an arm of the NSW government, acknowledged the long delay on Friday.
It split the blame between Genting initially taking its time to provide documents to the authority, followed by its rapid expansion into new jurisdictions where the ILGA "had little background knowledge".
An analyst said he expects Genting will be interested in increasing its control over Echo.
"It's now a set of assets that is quite appealing to a company like Genting," said the analyst. "At the time when they first bought a stake in Echo you didn't really know what you were getting. Now they know exactly what Crown is doing in Sydney and Echo itself is a pretty attractive set of assets with The Star humming along and Queen's Wharf on the horizon.
Genting could even consider a takeover offer of Echo, according to a separate source, although it would need to again apply for government approval to lift its stake beyond the newly approved 23 per cent limit.
Genting owns and operates casinos around the world, including 48 boutique casinos in the UK, Resorts World in New York and the massive Sentosa resort in Singapore.
The Malaysian company currently holds a 6.6 per cent stake in Echo making it the second-largest shareholder in the casino operator.
It originally asked the ILGA whether it could own a 25 per cent stake in Echo but the regulator settled on a 23 per cent limit, the same cap it offered to Crown in 2012 when it was looking to seize greater control of its arch rival.
Genting's influence could pave the way for Echo to launch a renewed fight against Crown, which will end Echo's Sydney casino monopoly when it opens a rival resort in 2019 at Barangaroo on the Darling Harbour shoreline.
Echo shares closed 9¢ or 1.94 per cent higher at $4.73 on Friday.
The final piece of the puzzle hinges on the Queensland Attorney-General and Justice Minister Yvette D'Ath.
Given Echo runs two casinos in the state - Treasury in Brisbane and Jupiters on the Gold Coast, with Queen's Wharf due to replace Treasury in 2022 - Ms D'Ath must also approve Genting's application before any corporate moves can be hatched.
Sources said Ms D'Ath's office is likely to sanction the ownership increase within the next two weeks.

[ozone]

DB have a Target Price : 0.50.....their Reseach or Analyst juz want to be famous for the wrong reasons !!! And last time they had a crazy Target Price for WILMAR too !!!

[CY09]

http://www.channelnewsasia.com/news/busi...47206.html

Shows how much dependence Asia Gambling Industry has on China VIPs. Lastest FY results shows how much Gaming revenue has fallen down and RWS is not exactly a hit like many have predicted. Tickets are now always selling at a discounted price of s$50 instead of $80. In fact, Genting is very honest to show that ordinary shareholders would have made a loss in 4Q after deducting perpetual shareholder's distribtuion (something which Hyflux quietly hid behind in section 6 and not in the front page of their P&L statement)

For me, Genting is still slightly above valued, but if it goes to about 50 cents, I may consider buying it

[Big Toe]

There is probably not much meat left to short this counter after losing most of its market value. Those that did made a killing based on sound judgement The best time to go long on this counter is... never. This company is wrong in just too many ways. Unfortunately it is also one which is widely held by locals due to the ridiculous number of shares issued and the fact that it is a component of the STI.

[CY09]

http://www.straitstimes.com/singapore/re...bt-problem

firing 400, imo, is very kind given that revenue is declining and yet staff cost is escalating over the past 2 FY

12 months EPS to ordinary shareholders is only 0.62 cents, giving it 119 x PE. Not a good number to measure because Genting's profit attributable to shareholder is now a very low figure; Most of the profits are being distributed to perpetual securities holder as distribution.

While USS tickets is priced at 80+ per pax, it seems there is countless promotions which is giving discounted tickets. Even on Carousell (my unofficial price ticket tracker), the selling of USS tickets has fallen from 60+ to 50+. Who says there is inflation in Singapore

[investor101]

[i]TOKYO: Japan's parliament passed a law on Thursday to legalise casinos, ending 15 years of political argument and opening the way for projects that combine high-stakes gambling with hotels, shopping and conference space.
As few as three casinos could generate nearly US$10 billion in net profit annually, Daiwa Research Institute estimated, equivalent to 0.2 percent of Japan's gross domestic product.
Still, casinos will not be in operation until 2022-23 at the earliest, gaming executives have said. Fresh legislation is needed within a year to set out details on regulation, tax rates and dealing with social ills such as gambling addiction and organised crime.



http://www.channelnewsasia.com/news/busi...68208.html[/i]

Let's see if Genting Singapore will continue its current rally!

[CY09]

http://infopub.sgx.com/FileOpen/GENS%20A...nt%20-%20S$1.8%20bn%20Perps%20-%20Notice%20of%20Redemption.ashx?App=Announcement&FileID=461685

Full redemption of its perpetuals. A good sign on the company's cash flow; it also means potentially more distribution are avaliable to ordinary shareholders.