Cruise ship operator Genting Hong Kong suspends payments to creditors
https://www.straitstimes.com/business/companies-markets/genting-hong-kong-suspends-payments-to-creditors?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-08-20%2020%3A08%3A27

Cruise ship operator Genting Hong Kong suspends payments to creditors
https://www.straitstimes.com/business/companies-markets/genting-hong-kong-suspends-payments-to-creditors?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-08-20%2020%3A08%3A27

SIA burns through half of $8.8 billion cash raised in two months
https://www.straitstimes.com/business/companies-markets/sia-burns-through-half-of-88-billion-cash-raised-in-two-months?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-08-20%2020%3A08%3A43

Since Genting HK already suspended all payments to its financial creditors for $3.4 billion, which includes interest and charter payments, fund raising will be challenging in view of current Group earnings outlook and visibility unless a “White Knight” can be found soon. The “White Knight” must not be another RPT by any Genting Group of Companies (GenM, Genting or GenS) since Genting HK is not a subsidiary but a personal holding by the substantial shareholders. Minority shareholders of GenM already suffered enough due to Empire US RPT last year.

Covid hit on tourism, leisure, hospitality & aviation severe with no clear earnings outlook and visibility as yet. Just look at latest news on Genting HK on suspension of payments to financial creditors, including interest and charter :-{

Since Genting HK already suspended all payments to its financial creditors for USD3.4 billion, which includes interest and charter payments, fund raising will be challenging in view of current Group earnings outlook and visibility unless a “White Knight” can be found soon. The “White Knight” must not be another RPT by any Genting Group of Companies (GenM, Genting or GenS) since Genting HK is not a subsidiary but a personal holding by the substantial shareholders. Minority shareholders of GenM/Genting already suffered enough due to Empire US RPT last year.

@EDINVESTOR Not another RPT like Empire US for GenM !

Simple question? As bond holders, bankers, suppliers, creditors, credit rating agencies & shareholders, will you be worried if your debtors (substantial shareholders) unable to pay/suspend payments to creditors in his other private/PLC companies? Credibility issues ?

Simple question? As bond holders, bankers, suppliers, creditors, credit rating agencies & shareholders, will you be worried if your debtors (substantial shareholders) unable to pay/suspend payments to creditors in his other private/PLC companies? Credibility issues ?

Next few quarters will be definitely be good but what is the Fair Value ? Invest wisely and rationally within you own risks tolerance and spare cash. Trust your own intuition and decide on your own entry and exit prices. There will always be Winners & Losers. Winners would have invested 1m at the onset of Covid and already made/exited with > 10m Windfall gain !

A very good stock if invested at the onset of Covid but has certainly exceeded all fundamental valuations based on PE, etc. Irrational exuberance resulted in dizzying level achieved due to intraday trading and punting. Globally, Covid will be with us for some time but statistical evidence for the past weeks already indicating level tapering off even without vaccine.

Just look at the QR2 losses results :-[

@ MoneyShow3 Value investors will start accumulating. Watch it power ahead towards at least the NTA value :-)

Finally, waking up from the long slumber :-)

China's once-booming mask makers struggle after price drop
https://www.straitstimes.com/business/economy/chinas-once-booming-mask-makers-struggle-after-price-drop?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-08-09%2022%3A08%3A53

I decided to cash in on the hefty profit, having stay invested in glove sector since the onset of Covid. All glove companies expanding capacities In Malaysia, Thailand etc. Also, newcomers and investors all rushing into glove production and business. As in Masks, it is just a matter of time that Supply will exceed demand and put pressure on the selling price. Existing glove companies will have exceptional and phenomenal profits for 2-3 quarters but certainly not sustainable to justify current share price valuation.

China's once-booming mask makers struggle after price drop
https://www.straitstimes.com/business/economy/chinas-once-booming-mask-makers-struggle-after-price-drop?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-08-09%2022%3A08%3A53

I decided to cash in on the hefty profit, having stay invested in glove sector since the onset of Covid. All glove companies expanding capacities In Malaysia, Thailand etc. Also, newcomers and investors all rushing into glove production and business. As in Masks, it is just a matter of time that Supply will exceed demand and put pressure on the selling price. Existing glove companies will have exceptional and phenomenal profits for 2-3 quarters but certainly not sustainable to justify current share price valuation.

China's once-booming mask makers struggle after price drop
https://www.straitstimes.com/business/economy/chinas-once-booming-mask-makers-struggle-after-price-drop?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-08-09%2022%3A08%3A53

China's once-booming mask makers struggle after price drop
https://www.straitstimes.com/business/economy/chinas-once-booming-mask-makers-struggle-after-price-drop?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-08-09%2022%3A08%3A53

What a rollercoaster ride. Intra-day spread (High to Low) of > 40%. Hopefully, not many burnt Ikan Bilis.

@ warchest Well Done to keep fellow forumers duly informed and TQVM. With factual information, all of us can trust our own intuition to make proper investment decision.

@sslee Spot on & TQVM.

GenS Management pessimistic guidance for the remaining of FY2020 in their QR 2 reiterated and confirmed the extent of the brutal effect of lockdown and border controls due to Covid. The extent of Covid in 2021 and beyond still uncertain unless vaccine is READILY available.

Last Call ... BUY :-)

Watch this ...oil prices on the uptrend !

@ wallstreetrookie Of course, Genting will survive. It is just a matter of good entry price for the opportunity cost of best returns. Even your paper loss of RM10k will be recovered, not If but When.

Q3 & Q4 will not have recovery as yet as leisure travel will not be allowed in Singapore for 2020 in view of their strict border controls. GenS highly dependent on gamblers from China, Indonesia ,Malaysia, Vietnam etc.

Q3 & Q4 will not have recovery as yet as leisure travel will not be allowed in Singapore for 2020 in view of their strict border controls. GenS highly dependent on gamblers from China, Indonesia ,Malaysia, Vietnam etc.

For the second quarter of 2020, the GenS Group’s revenue plunged by 94% as a result of the devastating effect of the Covid-19 global pandemic. The Group closed the quarter with a net loss of $163.3 million, the worst quarterly performance since the opening of our Singapore Integrated Resorts

For the second quarter of 2020, the GenS Group’s revenue plunged by 94% as a result of the devastating effect of the Covid-19 global pandemic. The Group closed the quarter with a net loss of $163.3 million, the worst quarterly performance since the opening of our Singapore Integrated Resorts

GenS QR2 losses to be announced today definitely more than SGD150 million ! That will give guidance for GenM QR 2 results.

GenS QR2 losses to be announced today definitely more than SGD150M ! Just work it based on exchange rate of 3.08 and the 52% holdings losses will be more than RM200 million.

It will be a long while more before mass travel can resume and that ultimately will affect Genm significantly due to high reliance on tourists from China, Singapore, Vietnam, Indonesia, Thailand etc. Why tie up capital and waste time here and wait until “the cows come home” in 2022 ? There are still a lot of undervalue and fundamentally good penny stocks.

From low of 0.20 this year to > RM1. Patience is a Virtue :-)

Hopefully, Management will issue out the 3 sen Special dividend (in relation to Y/E 2019) once there are positive results in QR3 to be released in October/November as indicated by their IR. Loyal shareholders must be duly rewarded for Management to gain their credibility.

It will be a long while more before mass travel can resume and that ultimately will affect GenS significantly due to high reliance on tourists from China, Malaysia, Vietnam, Indonesia, Thailand etc. Why tie up capital and waste time here and wait until “the cows come home” in 2022 ?

Wow ! I.0.345. Still dead cheap. It should not be a penny stocks for a financial /insurance firm.

Value Buy @ 0.305/031 today :-) As I said, it should move to 0.40-0.50 range in due course. We Ikan Bilis should buy low & let the IB buy/accumulate high later.

Read the IR reply accordingly. Possibility of special and interim dividends once QR results stabilize. QR 2 was a good indication and cost savings/income diversification is a good way forward. QR 3 & beyond should be very good too.

Finally :-)

Group Cash & Cash equivalents ~ RM35 billion but Group borrowings ballooning to RM39 billion as at 31/3/2020 (QR 1 2020). Bear in mind that most of the Cash is in Genting Singapore, of which a significant amount in SGD have to be used for the IR CAPEX expansion. In addition, there will be high cash burn rate in QR 2 2020 and beyond due to Covid.

Based on lockdown and currency exchange rates, impact in QR 2 consolidated financial statements, will be significant. GenS losses impact will have to be multiplied by 3.08. Genting UK losses will have to be multiplied by 5.5. Genting US losses will have to be multiplied by 4.25. Let’s see GenS results on Thursday.

Wow ! Finally. Patience is a virtue :-)

That’s the beauty of equity investment in uncertain times. Everyone has their own point of views. Otherwise, it will just be a boring market. Celebrate when it was a right call and take the hit and move on when it was the wrong call.

That’s the beauty of equity investment in uncertain times. Everyone has their own point of views. Otherwise, it will just be a boring market. Celebrate when it was a right call and take the hit and move on when it was the wrong call.

That’s the beauty of equity investment in uncertain times. Everyone has their own point of views. Otherwise, it will just be a boring market. Celebrate when it was a right call and take the hit and move on when it was the wrong call.

https://www.freemalaysiatoday.com/category/world/2020/08/02/australias-second-largest-city-declares-state-of-disaster-imposes-curfew/

https://www.freemalaysiatoday.com/category/world/2020/08/02/australias-second-largest-city-declares-state-of-disaster-imposes-curfew/

https://www.freemalaysiatoday.com/category/world/2020/08/02/australias-second-largest-city-declares-state-of-disaster-imposes-curfew/