Genting Singapore's $6.8 billion expansion spend, announced by the company on Nov 10, far exceeds the $5 - $5.5 billion capex projected by DBS Group Research..
Wholesale prices fell 0.5% in October for biggest monthly drop since April 2020
Wholesale prices in October posted their biggest decline in 2½ years, providing another indication that the worst of the inflation surge may have passed.
The producer price index, which measures final-demand costs for businesses, declined 0.5% for the month, against expectations for a 0.1% increase from the Dow Jones consensus, the Labor Department reported Wednesday. The department said that was the biggest monthly decline since April 2020.
I like GENTING's price action today. I am overweighted near 4.16, 4.12 and 4.07. It has broken the downtrend line established since this year's high early this year, so, cannot complain. However, there's a lot of resistance from here. E.g. next main one around previous swing high near 4.57. I expect many players will be queueing to sell near there, given the chart structure ... some will also queue to sell near 4.50 round number resistance. Plus market has been lacklustre where strong moves like today tend to invite sellers.
Both airlines (Scoot and SIA) carried just under 3.1 million passengers in October, up 36.1 per cent from October 2022. This was also higher than the 2.9 million passengers they carried in September.
Genting share is like no other very strange dealing pattern lot of small holders who keep disposing with small gains probably day traders. Also cannot see Genting Malaysia business outperforming as its cost base is high and is not efficiently run. You have to look at the management staff most are related with no outside people …it is a family business working within their community not based on capability I suspect! It is is family business and not a typical public listed company …only chance of outperformance is Taurx!
The main problem is the underperforming Malaysian business unit. Can’t control operational costs business model is struggling ….need new management at the helm.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Michael_chan2022
3,349 posts
Posted by Michael_chan2022 > 2023-11-14 12:10 | Report Abuse
For sure.. many have boarded in the morning... have a safe journey!!