Of course Genting HK is not part of the GenM & Genting Group structure but the companies all belong to the same Substantial Shareholders. Notwithstanding the percentage ratios not requiring Shareholders approval and Independent evaluation, any sale of non core assets by listed entities for liquidity should be negotiated and sold to the highest bidder instead of via Related Party Transactions.

Of course Genting HK is not part of the GenM & Genting Group structure but the companies all belong to the same Substantial Shareholders. Notwithstanding the percentage ratios not requiring Shareholders approval and Independent evaluation, any sale of non core assets by listed entities for liquidity should be negotiated and sold to the highest bidder instead of via Related Party Transactions.

“In September 2015, one of its founders, Lincoln Cheng, sold the rights of the Zouk brand to Genting Hong Kong, an affiliate of the Genting Singapore.[1] The brand and its business was valued at S$40 million by financial audit firm Ernst & Young in 2013.[2] On 1 September 2020, Genting Hong Kong sold Zouk for S$14 million to Tulipa, a firm owned by Lim Keong Hui, the former deputy CEO of Genting Hong Kong and the son of Genting Hong Kong CEO and chairman Lim Kok Thay.[3]” Source : Wilkipedia

“In September 2015, one of its founders, Lincoln Cheng, sold the rights of the Zouk brand to Genting Hong Kong, an affiliate of the Genting Singapore.[1] The brand and its business was valued at S$40 million by financial audit firm Ernst & Young in 2013.[2] On 1 September 2020, Genting Hong Kong sold Zouk for S$14 million to Tulipa, a firm owned by Lim Keong Hui, the former deputy CEO of Genting Hong Kong and the son of Genting Hong Kong CEO and chairman Lim Kok Thay.[3]” Source : Wilkipedia

https://www.theedgemarkets.com/article/genting-hong-kong-sells-zouk-group-lim-kok-thays-son-hk793m
Another Related Party Transaction.Lots of “Happy” Genting Hong Kong Shareholders & Creditors :-|

https://www.theedgemarkets.com/article/genting-hong-kong-sells-zouk-group-lim-kok-thays-son-hk793m
Another Related Party Transaction.Lots of “Happy” Genting Hong Kong Shareholders & Creditors :-|

AA should just focus on core business. Just look at the performance of Santan Restaurant as compared to the patron at the restaurant adjacent to it at MidValley Megamall. The revenue derived will not be sufficient to cover the high cost structure (rental, wages, utilities) etc.

It will trend lower but the price will definitely not collapsed. Earnings lower but still profitable even with higher NPLs.

It will trend lower but the price will definitely not collapsed. Earnings lower but still profitable even with higher NPLs.

It will trend lower but the price will definitely not collapsed. Earnings lower but still profitable even with higher NPLs.

https://asia.nikkei.com/Editor-s-Picks/Interview/Malaysia-likely-to-remain-closed-to-tourists-into-2021-minister
Effectively, QR1 2021 (peak CNY period) will also be lackluster and more air turbulence ahead :-|

https://asia.nikkei.com/Editor-s-Picks/Interview/Malaysia-likely-to-remain-closed-to-tourists-into-2021-minister
Effectively, QR1 2021 (peak CNY period) will also be lackluster as only tourism $ can aid recovery :-|

https://asia.nikkei.com/Editor-s-Picks/Interview/Malaysia-likely-to-remain-closed-to-tourists-into-2021-minister
Effectively, QR1 2021 (peak CNY period) will also be lackluster :-|

Another OPR cut likely in view of the lackluster economic environment and will also aid struggling businesses & propel a much quicker economic recovery.

Another OPR cut likely in view of the lackluster economic environment and will also aid struggling businesses & propel a much quicker economic recovery.

Another OPR cut likely in view of the lackluster economic environment and will also aid struggling businesses & propel a much quicker economic recovery.

At this juncture, investment in banking shares will need to be based on medium to long term time horizon. Banks will still have high exposures to Zombies Companies upon the expiry of loan moratorium, struggling SMEs and “chunky” loans to Aviation, hospitality, leisure, entertainment, retail, construction, properties & O&G sectors, which will definitely require additional provisions in view of the protracted & on-going Covid pandemic.

At this juncture, investment in banking shares will need to be based on medium to long term time horizon. Banks will still have high exposures to Zombies Companies upon the expiry of loan moratorium, struggling SMEs and “chunky” loans to Aviation, hospitality, leisure, entertainment, retail, construction, properties & O&G sectors, which will definitely require additional provisions in view of the protracted & on-going Covid pandemic.

At this juncture, investment in banking shares will need to be based on medium to long term time horizon. Banks will still have high exposures to Zombies Companies upon the expiry of loan moratorium, struggling SMEs and “chunky” loans to Aviation, hospitality, leisure, entertainment, retail, construction, properties & O&G sectors, which will definitely require additional provisions in view of the protracted & on-going Covid pandemic.

Although we do not receive dividend this quarter, it is prudent management for banks (Maybank & PBB) to conserve cash and capital buffer during this unprecedented pandemic period as future outlook still remains highly uncertain. It is important for banks to have adequate capital buffer. Even MAS Singapore restricted their banks dividend payout to mitigate against any unfavourable and unforesee economic developments in 2020 & 2021. Overpayment of dividend and not maintaining sufficient cash reserve will not protect PLCs during economic upheaval eg. Aviation sector. Also, overpayment of dividend not via increased earnings will not be sustainable going forward as the resultant capital loss due to share price reduction will outweigh the meagre dividends received by minority shareholders. Maybank also had the unfortunate Hyflux Singapore and Genting Hong Kong huge loan position too.

Our PM just announced RMCO to be extended until 31/12. Effectively, border will still be closed for leisure travels. As expected as Singapore government unlikely to open their border for leisure travel at least until 2021 too.

Our PM just announced RMCO to be extended until 31/12. Effectively, border will still be closed for leisure travels. As expected as Singapore government unlikely to open their border for leisure travel at least until 2021 too.

@ stocktrade101 No difference for GENM. Our PM just announced RMCO to be extended until 31/12. Effectively, border will still be closed for leisure travels. The same for GENS too as Singapore government unlikely to open their border for leisure travel at least until 2021.

6.5 sen dividend would have been wonderful news if the payout was due to sustainable or improved earnings. Guess what will happened after Ex Dividend Date ? How will the retrenched employees or those that are severely affected by pay cuts feel since the Company can still pay dividend generously.

6 sen dividend would have been wonderful news if the payout was due to sustainable or improved earnings. Guess what will happened after Ex Dividend Date ? How will the retrenched employees or those that are severely affected by pay cuts feel since the Company can still pay dividend generously.

Although we do not receive dividend this quarter, it is prudent management for banks (PBB & Maybank) to conserve cash and capital buffer during this unprecedented pandemic period as future outlook still remains highly uncertain. It is important for banks to have adequate capital buffer. Even MAS Singapore restricted their banks dividend payout to mitigate against any unfavourable and unforesee economic developments in 2020 & 2021. Overpayment of dividend and not maintaining sufficient cash reserve will not protect PLCs during economic upheaval eg. Aviation sector. Also, overpayment of dividend not via increased earnings will not be sustainable going forward as the resultant capital loss due to share price reduction will outweigh the meagre dividends received by minority shareholders.

No dividend declared despite remaining profitable although at much lower profit. It is perhaps a contingency for the uncertain times ahead for the remaining of Year 2020 and beyond as full impact of NPLs for the banking sector will only be known towards end 2020 and 2021.

Interesting. 6 sen dividend and changed of Chairman. Guess what is next ? :-|

~ 1billion of losses but notably borrowings increased by RM1.5 billion ! Yet again dividend paid out of increased borrowings.

Air turbulence !

Seriously ? CGS CIMB gave a revised TP of 0.15 :-|

Unless the substantial shareholders willing to subscribed to a huge rights issue, a White Knight via share placement is required before it is too late to restructure efficiently and effectively. The White Knight will also need to subscribe to the rights issue too. Mere bank loans will be insufficient to overcome the present challenges facing the aviation industry.

Just look at the huge negative EBITDA. Restructuring and fund raising efforts need to be expedited and be more intense. In view of restrictive flight resumption plans and low demand, maintaining and raising sufficient working capital to sustain the business operations will be a real challenge.

Based on the QR2, remaining Cash < RM1 billion as at 30/6. Current liabilities a whooping ~ RM8 billion as at 30/6. The fund raising need to be expedited and amount need to be substantial just to last until end 2020 as borders and leisure travel unlikely to be opened at least until 2021.

As Covid will be with us for some time, perhaps AA should convert some of their aeroplanes to cater solely for Cargo only. Margin will be good and can mitigate against the cash burn rate.

Etihad asks cabin crew to take up to six months unpaid leave
https://www.channelnewsasia.com/news/business/covid-19-etihad-airways-cabin-crew-take-unpaid-leave-13051402

Look at the Nett Cash position (Cash vs Total Borrowings) on an Annual/Quarter basis over the last 10 years. Is this gap in Surplus/(Deficit) ? Monitor this Nett gap position based on the QR every quarter. If Surplus, dividend should be paid. If Deficit, why dividend continues to be paid ? Analyse the breakdown of Cash in the Balance Sheet to have a better understanding before saying GenM is “Cash Rich”. This analysis can be used to evaluate current position when QR2 announced next week.

Look at the Nett Cash position (Cash vs Total Borrowings) on an Annual/Quarter basis over the last 10 years. Is this gap in Surplus/(Deficit) ? Monitor this Nett gap position based on the QR every quarter. If Surplus, dividend should be paid. If Deficit, why dividend continues to be paid ? Analyse the breakdown of Cash in the Group based on the Balance Sheet to have a better understanding before saying Genting is “Cash Rich”. This analysis can be used to evaluate current position when QR2 announced next week.

@ masterus Absolutely. I invested in Gold ( <1,500) and Glove sectors after exiting my investment in Genting Group. The RPT was a blessing in disguise :-}

@ masterus Absolutely. I invested in Gold ( <1,500) and Glove sectors after exiting my investment in Genting Group. The RPT was a blessing in disguise :-}

As medium/long term Ikan Bilis investors, we can stand the volatility and will be rewarded over time even if we are investing with our retirement funds. We have to take a sanguine and long-term attitude whilst exercising good risk and prudent management of our hard earned monies in our golden years. However, Management/Substantial shareholders must always treat minority shareholders fairly and with due respect.

The Empire Resorts Inc. RPT last year determined my exit and to cut loss as a long term investor in GenM. However, the damage would have been even larger if I had stay invested until now.

As medium/long term Ikan Bilis investors, we can stand the volatility and will be rewarded over time even if we are investing with our retirement funds. We have to take a sanguine and long-term attitude whilst exercising good risk and prudent management of our hard earned monies in our golden years. However, Management/Substantial shareholders must always treat minority shareholders fairly and with due respect.

@ Noobie123 Dissemination of prompt information and good Investors relation absolutely important for good Corporate Governance. Even though Genting HK is not part of Genting Group, the associated name and similar substantial shareholders for the respective Companies should have warranted immediate disclosure yesterday or today. The previous RPT for Empire US should have been put to vote by Shareholders (most of us, minority shareholders, and even Fund Managers “caught” previously) even if it was below percentage threshold as future cashflow or Capital injection commitment for GenM and Genting Group could be very significant.

Fundamental lesson to all tycoons : Never execute RPT to the detriment of minority shareholders. We might be Ikan Bilis but our total investments/funds can be huge in this current pandemic. Trust is the world’s strongest currency in the Corporate & Equities World. In this investment roller coaster environment, the highs and lows that chart our investment decisions are very often the result of our emotions rather than sound evidence.

Fundamental lesson to all tycoons : Never execute RPT to the detriment of minority shareholders. We might be Ikan Bilis but our total investments/funds can be huge in this current pandemic. Trust is the world’s strongest currency in the Corporate & Equities World. In this investment roller coaster environment, the highs and lows that chart our investment decisions are very often the result of our emotions rather than sound evidence.

@ choysun Sale started ? Wait for Merdeka Sale next week after QR2.

No cross loan default as Genting HK is not in the Genting Group structure.

No cross loan default as Genting HK is not in the Genting Group structure.

Genting HK USD3.4 billion ( > RM13 billion ) defaulted borrowings will have bigger impact for Maybank & RHB Bank based on their exposures. Just interest servicing humongous without adequate earnings due to Covid.