not vested
With casino gambling bill passed, is it time for Genting Singapore to pop the champagne?
By Gwyneth Yeo
SINGAPORE (Dec 8): Japan parliament’s lower house has passed a bill on Tuesday to legalise casino gambling, and has sent it to be reviewed by the upper house, according to local media. The upper house is expected to enact the bill by next week.
Still, this does not mean casinos would be immediately legalised in the country. Credit Suisse analyst Danny Chan notes that regulators have to develop a plan to legislate the sector and that legislation is subject to approval in the next parliamentary session in 1HFY17.
Casino operators like Genting Singapore will only be able to get involved when the Japanese government issues a request for proposal (RFP), and the new casinos could likely open as early as 2020, after the Summer Olympics in Tokyo.
In fact, Chan cautions that there is “no absolute certainty” that the upper house would pass the bill or that Genting Singapore would secure a position in the first round of RFPs as it competes against the likes of Sands and Wynn.
That said, even though it may be too early for casino operators to break out the champagne, Japan has just become a potential new growth area for the gaming industry.
As such, Credit Suisse is maintaining its “outperform” rating for Genting Singapore, with a raised target price from $1 to $1.18.
Shares in Genting Singapore closed 3 cents lower at $1.00 on Thursday.
Source: The Edge
http://smr.theedgemarkets.com/article/c ... up-content
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Genting Spore 03 (Nov 14 - Dec 26)
Re: Genting Spore 03 (Nov 14 - Dec 16)
by winston » Fri Dec 09, 2016 10:49 am
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Re: Genting Spore 03 (Nov 14 - Dec 16)
by winston » Fri Dec 16, 2016 9:23 am
not vested
Genting Singapore: Sticking to SELL
Japan finally legalized casinos yesterday, with proponents hoping to pass further legislation next year that would enable the first casino to open in the early 2020s.
Even assuming that our 4% terminal growth rate does not already reflect greater growth opportunities for the company, GS’s current price in excess of our fair value seems to imply an optimistic 40% chance of winning a Japan casino license, based on our rough estimates given the lack of details at this point.
Furthermore, while there are many reasons for selling one’s holdings, we also note that COO Tan has disposed 10m out of his 12m shares in GS on 28/29 Nov for proceeds of S$9.6m, suggesting that an insider may deem ~S$0.96 a favorable price to divest.
GS is trading at a consensus blended forward EV/EBITDA of (11.5x) – a 34% premium to its 2yr average of (8.6x) and a 15% premium to its 5yr average (10.0x).
Source: OCBC
Genting Singapore: Sticking to SELL
Japan finally legalized casinos yesterday, with proponents hoping to pass further legislation next year that would enable the first casino to open in the early 2020s.
Even assuming that our 4% terminal growth rate does not already reflect greater growth opportunities for the company, GS’s current price in excess of our fair value seems to imply an optimistic 40% chance of winning a Japan casino license, based on our rough estimates given the lack of details at this point.
Furthermore, while there are many reasons for selling one’s holdings, we also note that COO Tan has disposed 10m out of his 12m shares in GS on 28/29 Nov for proceeds of S$9.6m, suggesting that an insider may deem ~S$0.96 a favorable price to divest.
GS is trading at a consensus blended forward EV/EBITDA of (11.5x) – a 34% premium to its 2yr average of (8.6x) and a 15% premium to its 5yr average (10.0x).
Source: OCBC
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Re: Genting Spore 03 (Nov 14 - Dec 16)
by winston » Thu Dec 22, 2016 8:17 am
not vested
Why investors should be doubling up on Genting Singapore
By Michelle Zhu
SINGAPORE (Dec 21): DBS Group Research is reiterating its “buy” call on Genting Singapore with a higher target price of $1.15, citing earnings recovery and potential doubling of dividends.
Analyst Mervin Song believes that now is an opportune time to buy into the stock, with 2017 marking a recovery in earnings “after two tough years”.
This is driven by recovery in VIP volumes as it bottoms out this year, normalising of VIP win rates to 2.85% from 2.6% in 9M16 – as well as the easing of bad debts from a more selective and conservative credit policy over the past year.
The stock is also trading on depressed valuations even after the recent rally, observes Song.
He also notes that the company has the ability to increase its FY16 dividend to 6 cents per share, up from FY15’s 3 cents per share. This is due to its cash generation and net cash position, even with the redemption of its perpetual securities and potential bid for a Japanese casino.
“We believe the positive market response following the declaration of a 1.5 cents interim dividend will encourage Genting Singapore’s management to return more cash back to its shareholders,” says Song, who thinks this in turn should continue the rerating post the 3Q16 results.
“With prospects of increased dividends going forward, recovery in earnings and optionality from a potential Japanese casino in the medium term, in our view Genting Singapore can rerate closer to its average EV/EBITDA multiple of 13.1x and narrow its discount to its Macau peers,” he adds.
Shares of Genting Singapore closed at 92 cents.
Source: The Edge
http://smr.theedgemarkets.com/article/w ... up-content
Why investors should be doubling up on Genting Singapore
By Michelle Zhu
SINGAPORE (Dec 21): DBS Group Research is reiterating its “buy” call on Genting Singapore with a higher target price of $1.15, citing earnings recovery and potential doubling of dividends.
Analyst Mervin Song believes that now is an opportune time to buy into the stock, with 2017 marking a recovery in earnings “after two tough years”.
This is driven by recovery in VIP volumes as it bottoms out this year, normalising of VIP win rates to 2.85% from 2.6% in 9M16 – as well as the easing of bad debts from a more selective and conservative credit policy over the past year.
The stock is also trading on depressed valuations even after the recent rally, observes Song.
He also notes that the company has the ability to increase its FY16 dividend to 6 cents per share, up from FY15’s 3 cents per share. This is due to its cash generation and net cash position, even with the redemption of its perpetual securities and potential bid for a Japanese casino.
“We believe the positive market response following the declaration of a 1.5 cents interim dividend will encourage Genting Singapore’s management to return more cash back to its shareholders,” says Song, who thinks this in turn should continue the rerating post the 3Q16 results.
“With prospects of increased dividends going forward, recovery in earnings and optionality from a potential Japanese casino in the medium term, in our view Genting Singapore can rerate closer to its average EV/EBITDA multiple of 13.1x and narrow its discount to its Macau peers,” he adds.
Shares of Genting Singapore closed at 92 cents.
Source: The Edge
http://smr.theedgemarkets.com/article/w ... up-content
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Re: Genting Spore 03 (Nov 14 - Dec 16)
by behappyalways » Wed Feb 22, 2017 7:28 pm
Genting Singapore swings back to profitability in 4Q with earnings of $159.2 mil on lower expenses
http://www.theedgemarkets.com.sg/articl ... r-expenses
http://www.theedgemarkets.com.sg/articl ... r-expenses
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Re: Genting Spore 03 (Nov 14 - Dec 16)
by winston » Thu Feb 23, 2017 9:13 am
Genting Singapore swings back to profitability in 4Q with earnings of $159.2 mil on lower expenses
By Michelle Zhu
SINGAPORE (Feb 22): Genting Singapore swung back into in the black in 4Q16 with earnings of $159.2 million from a loss of $7.8 million a year ago, thanks to lower expenses and impairment on trade receivables.
This resulted in a more than tripling of earnings to $266.3 million from the previous year, despite a 7% fall in revenue to $2.2 billion.
Revenue for the quarter grew 2% to $557.7 million from $547.4 million, buoyed by a 7% growth in revenue contributions from the gaming segment to $398.6 million from $374 million in the previous year.
Resorts World Sentosa generated sales of $557.1 million, which is 30% higher compared to a year ago. This was lifted by gaming revenue as a result of higher rolling win percentage in the premium player business and the revised strategy to focus on better margin business, says the group.
But the higher revenue from Genting’s gaming division was partially offset by an 8% decline in revenue from the group’s non-gaming segment to $158.5 million from $173 million.
Cost of sales fell 13% to $346.7 million from $399.8 million a year ago. Other operating expenses fell 84% to $16.6 million while administrative expenses declined 30% to $33.6 million.
Notably, the group’s 4Q impairment on trade receivables registered a 14% decline to $38.9 million from $45.3 million in the previous year since Genting Singapore recalibrated its credit policies and remodelled its commission structure, hence lifting profit margins in the VIP gaming business.
In its outlook, Genting says it continues to adopt a measured approach in the VIP gaming business in a macroeconomic and political environment of ongoing uncertainty, coupled with a difficult Asian gaming market.
A volatile exchange rate regime resulting from the current uncertain global political setting may negatively impact its marketing programmes, it adds, although the group remains optimistic in delivering sustainable earnings growth.
Nevertheless, the group highlights that its integrated resort (IR) hotels have continued to outperform industry-wide matrices with a consistently high room occupancy rate of more than 90% at stable average room rates. It also believes it is well-placed and has sufficient financial resources to bid for Japan’s gaming license as it continues to track the progress of the IR execution bill in Japan.
Genting says it also intends to execute a corporate finance strategy over the next three years which will fulfil its various investment requirements, including IR projects, while allowing it to maintain an efficient capital funding model.
The group has proposed a final dividend of 1.5 cents to be paid in cash.
Shares of Genting Singapore closed 1% higher at 98 cents on Wednesday.
Source: The Edge
By Michelle Zhu
SINGAPORE (Feb 22): Genting Singapore swung back into in the black in 4Q16 with earnings of $159.2 million from a loss of $7.8 million a year ago, thanks to lower expenses and impairment on trade receivables.
This resulted in a more than tripling of earnings to $266.3 million from the previous year, despite a 7% fall in revenue to $2.2 billion.
Revenue for the quarter grew 2% to $557.7 million from $547.4 million, buoyed by a 7% growth in revenue contributions from the gaming segment to $398.6 million from $374 million in the previous year.
Resorts World Sentosa generated sales of $557.1 million, which is 30% higher compared to a year ago. This was lifted by gaming revenue as a result of higher rolling win percentage in the premium player business and the revised strategy to focus on better margin business, says the group.
But the higher revenue from Genting’s gaming division was partially offset by an 8% decline in revenue from the group’s non-gaming segment to $158.5 million from $173 million.
Cost of sales fell 13% to $346.7 million from $399.8 million a year ago. Other operating expenses fell 84% to $16.6 million while administrative expenses declined 30% to $33.6 million.
Notably, the group’s 4Q impairment on trade receivables registered a 14% decline to $38.9 million from $45.3 million in the previous year since Genting Singapore recalibrated its credit policies and remodelled its commission structure, hence lifting profit margins in the VIP gaming business.
In its outlook, Genting says it continues to adopt a measured approach in the VIP gaming business in a macroeconomic and political environment of ongoing uncertainty, coupled with a difficult Asian gaming market.
A volatile exchange rate regime resulting from the current uncertain global political setting may negatively impact its marketing programmes, it adds, although the group remains optimistic in delivering sustainable earnings growth.
Nevertheless, the group highlights that its integrated resort (IR) hotels have continued to outperform industry-wide matrices with a consistently high room occupancy rate of more than 90% at stable average room rates. It also believes it is well-placed and has sufficient financial resources to bid for Japan’s gaming license as it continues to track the progress of the IR execution bill in Japan.
Genting says it also intends to execute a corporate finance strategy over the next three years which will fulfil its various investment requirements, including IR projects, while allowing it to maintain an efficient capital funding model.
The group has proposed a final dividend of 1.5 cents to be paid in cash.
Shares of Genting Singapore closed 1% higher at 98 cents on Wednesday.
Source: The Edge
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Re: Genting Spore 03 (Nov 14 - Dec 16)
by winston » Thu Feb 23, 2017 9:13 am
Genting Singapore swings back to profitability in 4Q with earnings of $159.2 mil on lower expenses
By Michelle Zhu
SINGAPORE (Feb 22): Genting Singapore swung back into in the black in 4Q16 with earnings of $159.2 million from a loss of $7.8 million a year ago, thanks to lower expenses and impairment on trade receivables.
This resulted in a more than tripling of earnings to $266.3 million from the previous year, despite a 7% fall in revenue to $2.2 billion.
Revenue for the quarter grew 2% to $557.7 million from $547.4 million, buoyed by a 7% growth in revenue contributions from the gaming segment to $398.6 million from $374 million in the previous year.
Resorts World Sentosa generated sales of $557.1 million, which is 30% higher compared to a year ago. This was lifted by gaming revenue as a result of higher rolling win percentage in the premium player business and the revised strategy to focus on better margin business, says the group.
But the higher revenue from Genting’s gaming division was partially offset by an 8% decline in revenue from the group’s non-gaming segment to $158.5 million from $173 million.
Cost of sales fell 13% to $346.7 million from $399.8 million a year ago. Other operating expenses fell 84% to $16.6 million while administrative expenses declined 30% to $33.6 million.
Notably, the group’s 4Q impairment on trade receivables registered a 14% decline to $38.9 million from $45.3 million in the previous year since Genting Singapore recalibrated its credit policies and remodelled its commission structure, hence lifting profit margins in the VIP gaming business.
In its outlook, Genting says it continues to adopt a measured approach in the VIP gaming business in a macroeconomic and political environment of ongoing uncertainty, coupled with a difficult Asian gaming market.
A volatile exchange rate regime resulting from the current uncertain global political setting may negatively impact its marketing programmes, it adds, although the group remains optimistic in delivering sustainable earnings growth.
Nevertheless, the group highlights that its integrated resort (IR) hotels have continued to outperform industry-wide matrices with a consistently high room occupancy rate of more than 90% at stable average room rates. It also believes it is well-placed and has sufficient financial resources to bid for Japan’s gaming license as it continues to track the progress of the IR execution bill in Japan.
Genting says it also intends to execute a corporate finance strategy over the next three years which will fulfil its various investment requirements, including IR projects, while allowing it to maintain an efficient capital funding model.
The group has proposed a final dividend of 1.5 cents to be paid in cash.
Shares of Genting Singapore closed 1% higher at 98 cents on Wednesday.
Source: The Edge
By Michelle Zhu
SINGAPORE (Feb 22): Genting Singapore swung back into in the black in 4Q16 with earnings of $159.2 million from a loss of $7.8 million a year ago, thanks to lower expenses and impairment on trade receivables.
This resulted in a more than tripling of earnings to $266.3 million from the previous year, despite a 7% fall in revenue to $2.2 billion.
Revenue for the quarter grew 2% to $557.7 million from $547.4 million, buoyed by a 7% growth in revenue contributions from the gaming segment to $398.6 million from $374 million in the previous year.
Resorts World Sentosa generated sales of $557.1 million, which is 30% higher compared to a year ago. This was lifted by gaming revenue as a result of higher rolling win percentage in the premium player business and the revised strategy to focus on better margin business, says the group.
But the higher revenue from Genting’s gaming division was partially offset by an 8% decline in revenue from the group’s non-gaming segment to $158.5 million from $173 million.
Cost of sales fell 13% to $346.7 million from $399.8 million a year ago. Other operating expenses fell 84% to $16.6 million while administrative expenses declined 30% to $33.6 million.
Notably, the group’s 4Q impairment on trade receivables registered a 14% decline to $38.9 million from $45.3 million in the previous year since Genting Singapore recalibrated its credit policies and remodelled its commission structure, hence lifting profit margins in the VIP gaming business.
In its outlook, Genting says it continues to adopt a measured approach in the VIP gaming business in a macroeconomic and political environment of ongoing uncertainty, coupled with a difficult Asian gaming market.
A volatile exchange rate regime resulting from the current uncertain global political setting may negatively impact its marketing programmes, it adds, although the group remains optimistic in delivering sustainable earnings growth.
Nevertheless, the group highlights that its integrated resort (IR) hotels have continued to outperform industry-wide matrices with a consistently high room occupancy rate of more than 90% at stable average room rates. It also believes it is well-placed and has sufficient financial resources to bid for Japan’s gaming license as it continues to track the progress of the IR execution bill in Japan.
Genting says it also intends to execute a corporate finance strategy over the next three years which will fulfil its various investment requirements, including IR projects, while allowing it to maintain an efficient capital funding model.
The group has proposed a final dividend of 1.5 cents to be paid in cash.
Shares of Genting Singapore closed 1% higher at 98 cents on Wednesday.
Source: The Edge
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Re: Genting Spore 03 (Nov 14 - Dec 18)
by winston » Thu Feb 23, 2017 11:20 am
Genting Singapore 4Q16 Results Review
(GENS SP, NEUTRAL, TP: SGD0.93, Market Cap: USD8,284m)
Big Ambitions In The Land Of The Rising Sun
Genting Singapore has signalled its intention to go all out on Japan once the local authority firms up the development plan.
This may involve putting in bids at more than one location, as the group is looking to mark its presence in the next holy grail of the global gaming market.
On its existing operations, bad debt provisions have further stabilised while both mass and VIP luck factor held stable in 4Q16.
Maintain NEUTRAL with our DCF-based TP revised to SGD0.93 (from SGD0.82, 5% downside).
Source: RHB
(GENS SP, NEUTRAL, TP: SGD0.93, Market Cap: USD8,284m)
Big Ambitions In The Land Of The Rising Sun
Genting Singapore has signalled its intention to go all out on Japan once the local authority firms up the development plan.
This may involve putting in bids at more than one location, as the group is looking to mark its presence in the next holy grail of the global gaming market.
On its existing operations, bad debt provisions have further stabilised while both mass and VIP luck factor held stable in 4Q16.
Maintain NEUTRAL with our DCF-based TP revised to SGD0.93 (from SGD0.82, 5% downside).
Source: RHB
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Re: Genting Spore 03 (Nov 14 - Dec 18)
by winston » Thu Feb 23, 2017 2:40 pm
not vested
GENTING SINGAPORE | BUY
SOLID SET OF RESULTS – UPGRADE TO BUY
- Earnings beat expectations
- 4Q16 adj. EBITDA jumps 29% YoY
- Higher S$1.17 FV estimate
4Q16 net profit attributable to ordinary shareholders improved to S$159.2m versus a S$7.8m loss in 4Q15 while adjusted EBITDA in 4Q16 increased 29% YoY to S$233.7m.
The improvement in profitability over the quarter was mainly a result of higher rolling win percentage in the premium player business and GEN’s revised strategy to focus on better margin businesses.
We judge these firm set of results to be above expectations; FY16 revenue constitute 99% of our full-year forecast while gross profit and adjusted EBITDA came up to 110% and 116% of our forecasts respectively, again primarily due to stronger than expected margins.
The group has proposed a final dividend of 1.5 S-cents per share, which brings total dividends in FY16 to 3.0 S-cents (versus 1.5 S-cents in FY15).
After adjusting our valuation model to reflect the latest earnings beat and a firmer operational outlook, our fair value estimate increases from S$0.88 to S$1.17. Upgrade to BUY.
Source: OCBC
GENTING SINGAPORE | BUY
SOLID SET OF RESULTS – UPGRADE TO BUY
- Earnings beat expectations
- 4Q16 adj. EBITDA jumps 29% YoY
- Higher S$1.17 FV estimate
4Q16 net profit attributable to ordinary shareholders improved to S$159.2m versus a S$7.8m loss in 4Q15 while adjusted EBITDA in 4Q16 increased 29% YoY to S$233.7m.
The improvement in profitability over the quarter was mainly a result of higher rolling win percentage in the premium player business and GEN’s revised strategy to focus on better margin businesses.
We judge these firm set of results to be above expectations; FY16 revenue constitute 99% of our full-year forecast while gross profit and adjusted EBITDA came up to 110% and 116% of our forecasts respectively, again primarily due to stronger than expected margins.
The group has proposed a final dividend of 1.5 S-cents per share, which brings total dividends in FY16 to 3.0 S-cents (versus 1.5 S-cents in FY15).
After adjusting our valuation model to reflect the latest earnings beat and a firmer operational outlook, our fair value estimate increases from S$0.88 to S$1.17. Upgrade to BUY.
Source: OCBC
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Re: Genting Spore 03 (Nov 14 - Dec 18)
by winston » Fri Feb 24, 2017 8:19 am
not vested
Analysts upbeat on Genting Singapore with bumper dividend
By Jude Chan
SINGAPORE (Feb 23): The dark clouds over Genting Singapore seem to have passed. Analysts are upbeat after Genting Singapore declared higher-than-expected dividends, following its swing back to profitability in the fourth quarter.
Genting Singapore on Wednesday posted earnings of $159.2 million in 4Q, from a loss of $7.8 million a year ago, on the back of lower expenses and impairment on trade receivables.
(See also: Genting Singapore swings back to profitability in 4Q with earnings of $159.2 mil on lower expenses)
Maybank Kim Eng analyst Yin Shao Yang says he was “stunned” by the Genting Singapore’s bumper dividend.
“Earnings [were] in line but dividends beat by a mile,” Yin says in a Thursday report.
“While the operating environment remains challenging, we concede that investors will be more excited over the higher-than-expected dividends.”
Maybank Kim Eng has upgraded Genting Singapore to “buy”, from “sell” previously, and raised its target price by 38% to $1.10, from 80 cents previously.
“While GENS’s share price has rallied over 25% since we upgraded GENS to “buy” in August 2016, we believe the re-rating will continue on the back of sustained earnings recovery in 2017,” says DBS Group Research analyst Mervin Song.
In a report on Thursday, Song says Genting Singapore “still offers compelling value” despite the recent rally.
According to Song, Genting Singapore is trading at 10.2x FY17F EV/EBITDA, which is one standard deviation below its mean of 10.4x, and close to a 30% discount to its Macau peers.
“With increasing dividends, earnings turnaround and potential of winning the Japanese casino bid in the medium term, we believe GENS can rerate closer to its average EV/EBITDA multiple of 13.0x,” Song says.
DBS is keeping its “buy” recommendation on Genting Singapore, and raising its target price to $1.20, from $1.15 previously.
To add to the fanfare of higher dividends amid an earnings turnaround, Genting Singapore has signalled its intention to go all out in Japan.
“We are not entirely surprised, given that the Japanese gaming market is widely seen as the next holy grail amongst the global casino operators,” says RHB’s Singapore research team in a report on Thursday.
RHB is raising its target price for Genting Singapore to 93 cents, from 82 cents previously. However, it is keeping its “neutral” call as it remains cautious over the dearth of re-rating catalysts for VIP and mass market volumes.
RHB says Genting Singapore’s “big ambitions in the Land of the Rising Sun” may involve putting in bids at more than one location.
Genting Singapore estimates that setting up an integrated resort in Japan could cost between US$7-12 billion ($10-17 billion).
Maybank’s Yin notes that Genting Singapore believes it has an advantage in Japan over its heavily geared competitors as its balance sheet position is net cash.
Genting Singapore closed 5 cents higher at $1.03.
Source: The Edge
http://www.theedgemarkets.com.sg/smr/?q ... 8-87358173
Analysts upbeat on Genting Singapore with bumper dividend
By Jude Chan
SINGAPORE (Feb 23): The dark clouds over Genting Singapore seem to have passed. Analysts are upbeat after Genting Singapore declared higher-than-expected dividends, following its swing back to profitability in the fourth quarter.
Genting Singapore on Wednesday posted earnings of $159.2 million in 4Q, from a loss of $7.8 million a year ago, on the back of lower expenses and impairment on trade receivables.
(See also: Genting Singapore swings back to profitability in 4Q with earnings of $159.2 mil on lower expenses)
Maybank Kim Eng analyst Yin Shao Yang says he was “stunned” by the Genting Singapore’s bumper dividend.
“Earnings [were] in line but dividends beat by a mile,” Yin says in a Thursday report.
“While the operating environment remains challenging, we concede that investors will be more excited over the higher-than-expected dividends.”
Maybank Kim Eng has upgraded Genting Singapore to “buy”, from “sell” previously, and raised its target price by 38% to $1.10, from 80 cents previously.
“While GENS’s share price has rallied over 25% since we upgraded GENS to “buy” in August 2016, we believe the re-rating will continue on the back of sustained earnings recovery in 2017,” says DBS Group Research analyst Mervin Song.
In a report on Thursday, Song says Genting Singapore “still offers compelling value” despite the recent rally.
According to Song, Genting Singapore is trading at 10.2x FY17F EV/EBITDA, which is one standard deviation below its mean of 10.4x, and close to a 30% discount to its Macau peers.
“With increasing dividends, earnings turnaround and potential of winning the Japanese casino bid in the medium term, we believe GENS can rerate closer to its average EV/EBITDA multiple of 13.0x,” Song says.
DBS is keeping its “buy” recommendation on Genting Singapore, and raising its target price to $1.20, from $1.15 previously.
To add to the fanfare of higher dividends amid an earnings turnaround, Genting Singapore has signalled its intention to go all out in Japan.
“We are not entirely surprised, given that the Japanese gaming market is widely seen as the next holy grail amongst the global casino operators,” says RHB’s Singapore research team in a report on Thursday.
RHB is raising its target price for Genting Singapore to 93 cents, from 82 cents previously. However, it is keeping its “neutral” call as it remains cautious over the dearth of re-rating catalysts for VIP and mass market volumes.
RHB says Genting Singapore’s “big ambitions in the Land of the Rising Sun” may involve putting in bids at more than one location.
Genting Singapore estimates that setting up an integrated resort in Japan could cost between US$7-12 billion ($10-17 billion).
Maybank’s Yin notes that Genting Singapore believes it has an advantage in Japan over its heavily geared competitors as its balance sheet position is net cash.
Genting Singapore closed 5 cents higher at $1.03.
Source: The Edge
http://www.theedgemarkets.com.sg/smr/?q ... 8-87358173
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Re: Genting Spore 03 (Nov 14 - Dec 18)
by behappyalways » Fri May 12, 2017 6:24 pm
Genting Singapore 1Q earnings up more than fivefold on disposal gain
http://www.theedgemarkets.com.sg/gentin ... posal-gain
http://www.theedgemarkets.com.sg/gentin ... posal-gain
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