Highlights
KLSE: GENM (4715)       GENTING MALAYSIA BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
3.08   -0.05 (1.60%)  3.06 - 3.10  7,185,900
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Overview

Market Cap: 17,396 Million
NOSH: 5,648 Million
Avg Volume (4 weeks):8,348,517
4 Weeks Range:3.05 - 3.24
4 Weeks Price Volatility (%):
15.79%
52 Weeks Range:2.76 - 5.35
52 Weeks Price Volatility (%):
12.36%
Average Price Target: 3.40
Price Target Upside/Downside: +0.32

Financial Highlight

Latest Quarter | Ann. Date 31-Mar-2019 [#1]  |  23-May-2019
Next QR | Est. Ann. Date: 30-Jun-2019  |  29-Aug-2019
T4Q P/E | EY: -158.82  |  -0.63%
T4Q DY | Payout %: 6.17%  |  - %
T4Q NAPS | P/NAPS: 3.16  |  0.97
T4Q NP Margin | ROE: -1.71%  |  -0.61%

Headlines

Date Subject
24-May-2019 Genting Malaysia Berhad - Dragged By Outdoor Theme Park Provision
24-May-2019 Genting Malaysia - Record High Revenue
24-May-2019 Genting Malaysia - Clearer Picture; Upgrade To OP
20-May-2019 Genting Malaysia Berhad (KLSE) #FundamentalDaily - YAPSS
16-May-2019 (Boostmy) Genting Malaysia: RM1.8bil write-back increasingly possible
10-May-2019 Genting Bhd - GENS’ 1Q19 Results No Surprises
03-May-2019 [转贴] 天哥讲股 第4集(VIDEO) GENM ~ 第一天
30-Apr-2019 云顶大马8仙股息已派‧另5仙7月寄发
29-Apr-2019 Malaysia Strategy – FBM KLCI to Hit 1,850?
17-Apr-2019 Genting Malaysia - US Beacon of Light for GENM?
17-Apr-2019 云顶马来西亚 赌场税挫赚幅7%
16-Apr-2019 Genting Malaysia - Things Could be Better
11-Apr-2019 Genting Malaysia - On Board the Equanimity
11-Apr-2019 A RM5.5b mistake on Genting Malaysia?
10-Apr-2019 Stocks on Radar - Genting Malaysia (4715)
08-Apr-2019 哥买的不是船
06-Apr-2019 云顶 长期展望不俗
04-Apr-2019 Genting Malaysia Berhad - New Owner of Superyacht
04-Apr-2019 博彩业首季强稳·赌场税冲击待观望·测字销售可改善
04-Apr-2019 Genting Malaysia - On Board the Equanimity

Business Background

Genting Malaysia is a resorts and casino company and is a subsidiary of the holdings company Genting. The company has two primary business segments: Leisure & Hospitality and Properties. The Leisure & Hospitality segment operates numerous resorts, many of which include casinos, theme parks, concerts, restaurants, and retail shopping locations. The flagship resort operates five hotels, an amusement park, and entertainment venues. The Properties segment controls and leases real estate. The company generates the vast majority of its revenue in Malaysia.
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  14 people like this.
 
siswati Cash flow is definitely very strong with such exceptional EBITDA. writing off pre-op expenses, is a non-cash item
23/05/2019 8:12 PM
akupolitikkk The unusual items included in the interim financial report for the three months ended 31 March 2019 related to
the provision of related costs as a result of the termination of contracts related to the outdoor theme park at
Resorts World Genting of RM198.3 million

Gain on disposal of a subsidiary 123.8

If not gain disposal, hmmmmm...

And dun forget Equanimity Superyacht , maintenance hmmmm.....

1. higher pre-opening expenses by RM194.0 million mainly due to provision for termination related costs of
RM198.3 million as mentioned in Part I (c) above;
2. lower interest income by RM47.5 million mainly due to impairment of the Group’s investment in the
promissory notes issued by the Mashpee Wampanoag Tribe in 2018; mitigated by
3. recognition of a gain of RM123.8 million from the disposal of a subsidiary in UK
23/05/2019 8:14 PM
siswati Europe market not doing well as of now. US mkt futures indicate a 200 pts down. If short term, I'm afraid GENM may not reach its full value potential...given all the uncertainty surrounding the US/China trade war and trade restriction on Huawei and the tech companies in China by US....
23/05/2019 8:15 PM
Jumpman What are the “other expenses” include ? 511,382,000
23/05/2019 8:16 PM
siswati the gain of disposal of RM123 million is an one of item and should not be counted in. Likewise the write off of the pre-op expenses of RM210 million should also not be included for continuity purposes. Equanimity maintenance cost is minimal relative to the B/S of GENM
23/05/2019 8:19 PM
siswati other expenses of 511 million consists mainly of pre-op expenses RM210 mn and depreciation of RM256 mn. Come on guys, the info are all in the qtr report. Just need to browse through them
23/05/2019 8:21 PM
Jumpman Thanks Siswati
23/05/2019 8:26 PM
siswati The revenue has increased by 14%, a growth rate which is really awesome in GENM standard. This showcase that the investment GiTP is starting to bear fruits. Of course the hiccups along the way being the acquisition of Fox by Disney, Pakatan gaming tax and the consequential flow through write offs (RM210 mn) associated with the termination of Fox theme park. With all these out of the way, save for gaming tax which is permanent, the growth in revenue indicates that all will be going very well for the next coming quarter and FY2019. Obviously, if GENM is successful in suing Disney, there could be a windfall payout from the litigation. Bear in mind there is also the possibility of write back of RM1.9 billion on the indian reserve land matter in US.
23/05/2019 8:28 PM
Jumpman And I think the current price has already priced in the above mentioned negative matter
23/05/2019 8:30 PM
siswati I think RHB and Credit Suisse may have gotten a head start on us which is why they came out with a strong buy recommendation. Of course, as we all know, research report are a dime a dozen and sometimes they are not worth the value of kacang puteh wrapper but then again we do read them and glean some insightful info therein, despite not agreeing to their call
23/05/2019 8:33 PM
Trouble Huat going to be uptrend. 1st TP RM3.30
23/05/2019 9:01 PM
Bullbursa Uptrend?no use if u can’t make more profit..so what if u got record breaking revenue? Business is about making money, and for investors is more profit. Next qtr the revenue may not be as good as this qtr. l
23/05/2019 9:17 PM
Bullbursa It will be on downtrend to below RM3 with the help of trump
23/05/2019 9:18 PM
Bullbursa Dow gonna down 500pts tonight as China gonna fight back hard this time..
23/05/2019 9:20 PM
akupolitikkk Yup DJIA is super down.. confirmed down..
23/05/2019 9:41 PM
sell Profit down 25% YOY. Sell.
23/05/2019 9:41 PM
akupolitikkk Genting Malaysia reports 25% net profit fall

https://www.theedgemarkets.com/article/genting-malaysia-reports-25-net-profit-fall
23/05/2019 9:43 PM
ankahill Aiyoyo.... tomorrow fall again!!!!????
23/05/2019 10:29 PM
apple168 Where are those “smart” investors saying that GenM profit getting better? Come out... you owe us many apologies!
23/05/2019 10:35 PM
apple168 First TP 2.5 remains...
23/05/2019 10:36 PM
apple168 Be prepare for bloodbath tomorrow!
23/05/2019 10:38 PM
ankahill Free fall!!!!!???? :C
23/05/2019 10:46 PM
Woolei 2. lower adjusted EBITDA from leisure and hospitality business in Malaysia by RM26.6 million in 1Q 2019 mainly due to higher casino duty and higher costs relating to premium players business mitigated by higher revenue;

Q1 2019 Malaysia EBITDA only lower by RM26.6 million aka -5% compare to Q4 2018, gaming tax impact is not really that much. Revenue hit highest record at RM 2,735,580,000 some more @.@

i would say it is a ok ok result, if next 3 quarter can have the same earning, it sound attractive as only trading at PE16 now.

KIV
23/05/2019 10:53 PM
Beary Xi QR is consider so so! I was looking at gambling tax impact! Seems manageable!
23/05/2019 10:55 PM
NESARAJAH1 Bad day for stocks 2moro. US and Europe all down terribly. Guess I hold on to GENM for few years
23/05/2019 11:04 PM
Vulture123 QR not good based on the 25%-30% PBT & PAT dropped. It would have been worst if not for the 100m plus one off gain on the disposal of Genting unit in London, UK. Gaming tax hike is here to stay and do not forget the future recurring operating cost impact arising from the recent Equanimity acquisition. In addition, Trumponomics escalating the trade war.
23/05/2019 11:05 PM
FinEx Actually the result is not worst than expected. It is expected the earning will drop 41% for 2019 but YoY only drop 25%.

https://www.theedgemarkets.com/article/all-eyes-genting-malaysias-1q-results
23/05/2019 11:48 PM
Tyre220069 Some idiot predicted the EPS will drop to 10 cents and the shares price will drop to rm2.
If the PE is 20.
Not it maintained at 4.75 cents per qr.
It will maintain at 19/20cents.
Based on PE of 20,the fair price should be rm3.80 to rm4
24/05/2019 5:13 AM
signalmw Wish Apple tp reach. Biiy time
24/05/2019 7:44 AM
Tyre220069 Today jump start at 3.17 and slow ly going up to 3.30
24/05/2019 7:52 AM
Tyre220069 The outdoor theme in 2020/21 will be able to cover the drop of 25% profit ,in 2020 when Theme park open,it will go up to rm4.50/rm5 easily,
EPS 25 cents ,pe 20
24/05/2019 8:00 AM
boostmy https://klse.i3investor.com/m/blog/boostmy/207605.jsp
24/05/2019 8:04 AM
2143 After off setting the one-time gain with one-time loss the profit only dropped around 10% against expected drop of 41%.
24/05/2019 8:08 AM
Jeffreyteck Reasonable results. Believed already factored in. If over reacted, will avg down at 2.80.
24/05/2019 8:22 AM
patient_invest boostmy, the first quarter revenue is 1.9b.
Is 1.9b before or after Casino tax? thx
24/05/2019 9:04 AM
boostmy After casino tax.

Management attributed the good quarter due to 'higher win rate' or 'luck factor'. Don't have to be a genius to know that luck, played out over thousands and thousands of hands is dissipated. The variance over a large quantity of sample size becomes insignificant.
24/05/2019 9:14 AM
patient_invest boost, do you think the "higher win rate" was due to --- reduction in under-table money paid to Najib government?
24/05/2019 9:27 AM
patient_invest there's no way to track casino revenue. unless the government put 1 person to stand beside every single table, 24 hours a day right?
somemore all the transactions are in Cash. How to track cash?
24/05/2019 9:28 AM
boostmy I won't speculate on that.

What I am sure of is that the company was able to grow out of higher taxes. Or was not impacted much by higher taxes. Either possibility is good.
24/05/2019 9:36 AM
patient_invest Is there any part in the report that says: Revenue is net of Casino tax ?
I am trying to find, but couldn't. Please help
24/05/2019 9:38 AM
boostmy Please read my articles. There is an example by customs on how to calculate.
24/05/2019 9:41 AM
MeiKei Time to collect
24/05/2019 9:43 AM
skyu very disappointing and quite suspicious results. if not of the genting UK disposal, the lost will be worst.
24/05/2019 9:50 AM
akupolitikkk The price will hanging RM3-3.20, wont go from this circle unless something brewing
24/05/2019 9:56 AM
patient_invest Got it boost

EBITDA up 22%
Net profit flat

Net cash from Operation up 8.5%

To be conservative, how much do you think the company's actual net profit has grown
As the reported net profit may include certain items like aggressive depreciation, or one-off items.
24/05/2019 9:56 AM
qps999 wow...going down, SELL slot on time book profit as Money Life Research suggest to point tgt la..save money..it will jump agaiin..
24/05/2019 10:04 AM
boostmy Patient_invest, one quarter doesn't really mean much unless you are just buying for a few days or weeks.

The most important takeaway from the report is that the company is not that badly hurt by the higher Casino Duty and hence the value will recover over time.
24/05/2019 10:10 AM
patient_invest boost, thanks for the advice
for long term, how much do you estimate the per share earning & what's a reasonable price for this company?
24/05/2019 10:36 AM
Johnfatt @apple168 right, pannai
24/05/2019 11:16 AM
pineapple8888 Q report out. Where is 2.5??
24/05/2019 1:45 PM


 

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