Sorry for the typos! Auto correction or auto typos😀

By this time the full year results are known internal both at individual business as well as at group level…any disposal of shares may be sign of weak results or below expectations …this can happen as Genting can suddenly out of the blue have significant increase in impairment charges…catching the most seasoned analyst by surprise…not to mention shares being dumped in open market ….the regulators are suppose to keep an eye on all this but they dint as there is cmflcit of interest as abuses makes money from trading. Also the auditors are pretty useless not only here but worldwide…as there is conflict of interest. Many auditor firms have been fined for not picking up simple irregularities…case in point Serba Dinamik…Serba we’re guilty of very archaic fraud …simplest by increasing debtors receivables! I had forewarned on this forum before fraud was discovered. Governance is critically important for listed companies otherwise they must not be listed Simple.

@Peaches….Thanks…I already have the update on conference to be held in Portugal….I was referring to update from Taurx AGM….whether they had any specific information on regulatory submission and level of confidence on approval.

Soon9913…result out even good ceo and other internal parties sell more shares….good result / bad result makes no difference! Share price movement depends on number of shares sold and bought …more sold share price goes down even if profits increase by 1000%!

On every correction people shout buying opportunity…..CAPITAL IS NOT UNLIMITED ALSO THERE ARE OTHER ALTERNATIVE CAPITAL COMPETES AGAINST.

Anybody can provide update from Taurx agm? I suspect if anything significant we would have known? Watch out for trade suspension …..due to announcement followed by dumping of share by you know who, all a possibility with this counter.

Ha watch the programmed trades this will keep happening as I suggested! Share price is Nothing to do with business fundamentals….unless insiders know that more write offs ( creative accounting impairment losses!) are coming through next results or perhaps key stakeholders are creating selling to buy back before Taurx news is announced!

Save…..it is not weak holders …..that is a common explanation, it has been like this for over 7-8 years…weak holders would have gone by now. Programmed trading …I do t want to repeat what I have been saying.

More important I wonder what was said at the Taurx AGM? Any hint as to status of application and general confidence level?

No need to worry just be realistic in your expectations is my message with regard to Genting. Some people are happy to make 5 % profit others like to make at least 25-30% return over a year ….to make up for the risk.

ChloeTai, you get my drift. It may not be so obvious us that but the fact is the owner of big shareholding such as CEO through private company has many tools to control and manipulate share price of listed company. Other companies who were in similar recovery situation have done very well for example Rolls Royce the aeronautical engine manufacture has delivered over 800 % return because it does not have a major shareholder (original owner) who can trade in its shares. He can also influence others to trade buy and sell based on inside info. Generally the governance is very poor case in point is dumping shares in open market to pay for cruise line business losses or awarding yourself highest ceo salary even compared to very technical and complex western businesses. The fundamentals of the business may be sound going forward but share price people are expecting is in the hands of the owner and other close stakeholders. Investors can still make money but it is a very tight band compared to investing in other stocks. Party related transactions are a constant threat. I am still invested as I feel a catalyst may change the pattern, but one needs to be fleet footed.

Turning out to be damp squib…..! We need AMG power

All very positive, for Genting, let’s hope and pray all our wishes and goals are realised. Perhaps year of the Dragon is Gentings shareholders year?

Taurx is looking promising and the sharing of 24 month trial data to support the approval from FDA and U.K. regulators is a critical step in the process. 2024 could be the year!

Best hope for quick uptick is Taurx ….even then it will be followed by big dumping …need to be fleet footed

If Genting share price was based on business recovery the price should be in high 6.40+ for sure ….this is why it is not level playing field as share performance is not based on fundamentals! Companies that don’t have founder shareholder holding over 40% do much better and governance is much better…..eg awarding yourself biggest salary

Hng33 what you are saying is logical …. but share price is determined by shares sold and bought …ad not necessarily by fundamentals……..sadly! Also the company owner is heavily involved in share transactions via private company as well as party related transactions from time to time….so nobody k owns who will dump shares at what point and what other party related transactions will be put through and not to mention charge profit and loss account with unpredictable expenses …

Genting underperformance continues this is entirely due to dumping of shares after small gains …no other explanation…

I guess Minority shareholders have to be nimble to make profits.

Somebody in this forum the boss is a clever business man….I beg to differ he is no Musk or Zuckerberg ….the company has massively underperformed under his reign…..he is a master of making money from other shareholders in his company…..if this company was in developed markets no doubt the share dealings would have been investigated…….that’s why little rise leads to massive sales of shares….. the management are not independent …..of ceo the major shareholder

Piss poor

Share price is not correlated with Chinese folks spending on holidays …..when will people realise this!

Let’s hope boss does not entertain creative share dealing! That is the main risk we all know tourists numbers are up, revenue is up actual business is in full recovery ……etc etc share price is determined by acquisition and disposal of shares!

Slow so slow…..compare Genting to CIMB which is motoring along…was in deep trouble when covid hit with significant write offs….the difference in performance is mainly because Cimb does nit have party related transactions and single major owner like Genting has who dumps shares and buys them back or entertains party related transactions…..from time to time ….whilst business itself is recovering the share dealing is an issue. Most CEO don't actively trade in their own shares and get listed entities to bail out their private investments. No matter how the business is doing and recovering this is the issue which is impacting the share price. To be honest the regulators need to look at these transactions as it has negative impact on shareholders which they should be protecting….! Sorry for repeating the point …I am confident the business results will improve …significantly.

All,I know from my U.K. contact is that the approval process is well advanced …subject to more data from extended trial….the data over 24 month period is being analysed ..and to be presented….that’s what I heard what it actually means no Idea! I feel we will know definitely this year.

We know the results will be good despite empire resorts. However the risk is not from bad performance but share dealing and party related transactions. What we need is a positive update from Taurx to really lift the share price which should be in the region of 5.70 plus ….given the improvement in trading revenue

Taurx looks increasingly encouraging ….but major shareholder behaviour is worrying …I suspect we may see dumping of shares before any positive news is received….need to be vigilant ….2024 is definitely when we may hear some positive news …

https://www.nst.com.my/business/corporate/2024/01/1003165/sc-bursa-malaysia-come-fray-reassure-investors-selected-stocks Bursa looks out for any unusual corporate transactions and will protect shareholder interests? Interesting

The other fact about US for those who have n it travelled to US, it is not what it use to be in 1960’s and through to 1980’s ……lot of places in the US are in permanent decline …..falling wages you have just drive out to the suburbs and see the depravation. What worked in the 1970’s will not make it now ….lot of foreign businesses with lot more capable management teams have failed in the US big time. May be Malaysia tycoon of 1970s style may be different and more capable. The local reports on Empire resorts are not too good the local analysts are saying the management are not aligned with the shareholders …..and there is no cost control.

I hope so….license should make a difference but it still does not address the fundamental issue of party related transactions …even though the options for this are reducing. The irony is business itself can flourish and break new revenue records, ultimately the share price is factor of supply and demand and if some fool who owns 40% May decide to dump shares the share price will suffer or bail out his private company.

https://www.thestar.com.my/business/business-news/2022/12/07/loss-making-empire-resorts-could-be-negative-for-genting-malaysia-says-cgs-cimb All points to a very negative investment whilst the boss makes money from the transaction. At the time of the acquisition there was statement that Genting M won’t be asked to make,further investment!

https://theedgemalaysia.com/node/697327

The share price will make a reversal after a significant correction yesterday…..I am in no doubt. The problem is that uncertainty remains as when another party related transaction will be put through …as there is no control. There was a flurry of transactions to take it above 5 and than a dump prior to announcement of investment in Empire resorts. There is effectively a dilution. Pretty sure there will be some announcement on TauRx soon. Keep a watch out.

@ks5S…..very sensitive aren’t you? I guess there is no honour among thieves. Truth hurts. Very quick to blame Malaysian Green Party politics for Genting underperformance and yet the real reasons are clear to see but due to bias facts are conveniently ignored.

No doubt he will get insiders to buy shares in Genting when full correction has happened! That’s the game which is repeated ….time and time again.

People don’t get it….short term hiccup etc ….this kind of action is not the first time …it is happening time and time again….the guys are crooks with very poor governance ……sure it will recover but the management are involved in manipulating the price by actions they are taking simple! LKT is getting a listed company to make poor investment and bear the losses in a private companies assets which he owns ……. and he does by being a CEO. He should be disqualified to be the CEO….that is the answer …also he pays himself the highest salary paid by any of the listed companies not only here in Malaysia but higher than very reputable complex western companies!m

Let’s be honest …..the boss is a crook….or not a principled and decent man. The independent directors on the board have a duty ….a fiduciary duty towards the company and its shareholders….but they have been nabbed and not worth their jobs…..they rubber stamp what the boss say. As I said Bursa is responsible for protecting the shareholders and ensure the companies listed on the exchange conduct their affairs in an fair and orderly manner…..they should take action.

The impact is minuscule but it is all about a morality of these type of transactions! So unethical …why would a business increase its investment in business which is loss making and to make it worse does not have controlling stake even though it owns 89 % the private entity of mr Lim controls the board! That’s the issue. Bursa should definitely look at these sort of transactions as they destroy confidence in the market!

Keyman….the Kenanga are referring to Genting Malaysia price discount 0f 5% from 3.07 to 2.90 and not Genting ….! It is a mistake ….GenM is the investor and not Genting

Run by crooks

No other bank analyst has commented on this as yet?

In the context of things this equity investment by GenM sends the wrong optics and the financial cost of it is not too significant ….as some will be used to pay bank loan and GenM will see some benefit of this. The key driver still worth watching how Empire Resort is performing …..Can anyone in this forum shed some light ? Is it improving and likely to be profitable in 2023?

On all this nice to have solid counters like Gamuda and Yinson to name a couple …with good governance ethics on the polar opposite we had Serba who pretty much had discounted share placements when the CEO wanted funding for his expensive holidays 😂😂

On the positive side ….think of the psychological side of this action particularly the timing….. price was rallying in anticipation of the results so best time to correct the price is now. Insiders will buy the shares the results are likely to be very good and price will rally again …..this time perhaps after 25 Feb! What the foreign investors make of this game who knows some of the institutions are very touchy on governance matters and this action may be costly. We also have Taurx in all this which big boss can use to activate price rise! The game goes on. Just sharing my thoughts!

Insiders pushed the price to above 5 and than dumped it knowing this announcement will be made …..there is lot,of insider dealing in this counter as there is lack of governance. This is not the first time! We had with Taurx …price shot up and there was massive selling of share in relation to cruise business not owned by Genting)

Run by crooks….can’t put it any other way. In companies that have good governance investment is only made if it is going to be beneficial to shareholders ….in this company the ceo and directors are not independent…that why we have the highest paid CEO….in an underperforming company that has delivered negativd shareholder returns over a considerable period …not withstanding CV19

I am pretty sure that there is no cost control Empire Resorts…they pay themselves exorbitant salaries and ask other independent company to pick up cost …quite shameful actually.

Ha ha I had said this biggest risk is from funding other business….owned by major shareholder. This is a GOVERNANCE ISSUE…….IN A PROPER RUN COMPANY THIS WOULD NOT HAPPEN. INDEPENDENT MEMBERS OF THE BOARD ARE NOT INDEPENDENT OR STRONG ENOUGH …

Let’s hope I am wrong! I will be more than happy to be wrong this time!

Not surprised at all the price has retraced below 5. Let’s see what happens over next month or so. Normally when company is seen as a recovery stock with key indicators being bullish, you expect upward trend. With Genting nobody knows, this is because of the nature of shareholders. I recall few years when indicators improved and price rallied major shareholder dumped shares to cover losses from cruise business. After all share price is dependent on buyers and sellers if you dump shares in the open market the share price will fall no matter how good the underlying business may be. We had example of this with Tesla when shareholder sold shares to buy Twitter. This remains my biggest concern with Genting …..lack of proper governance.

Struggling to go past 5 as expected. Immense selling pressure high volume….we will know around 3-4 pm when European markets open if Genting close 5 plus. It is important that it closes above.