Posted by hng33 > 2024-02-06 09:45 | Report Abuse

In 2019 prepndemic time, Genting record average EPS 12sen-16sen per quarter and its reflected share price is at RM 6.50-RM 7.30. Therefore, if genting recovery is sustainable forward consecutively record EPS > 12sen, share price should recover back to above RM 6.50 these year very soon

Posted by Riaz1954 > 2024-02-06 09:50 | Report Abuse

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 …

Posted by hng33 > 2024-02-06 09:53 | Report Abuse

The major earning driver for Genting now if compared to 2019 is additional profit contributor from newly open Genting Las Vegas, at cost USD 4.3 billion, which is only just started to reap profit and higher momentum growth is expected when operation gradually towrad optimal level

Posted by Riaz1954 > 2024-02-06 09:54 | Report Abuse

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

Posted by Riaz1954 > 2024-02-06 09:55 | Report Abuse

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

Posted by Riaz1954 > 2024-02-06 09:59 | Report Abuse

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!

Posted by hng33 > 2024-02-06 10:07 | Report Abuse

Other assets pending to unlock is investment in Taurx pharmaceutical product which already completed clinical trial and show positive outcome. Result already submitted since last midyear to FDA for commercial approval. Another prime assets is kasuri gas which is now at development stage with first gas expect in Q2 2026

https://www.upstreamonline.com/field-development/indonesian-chinese-pairing-eye-kasuri-prize/2-1-1579909

Posted by neohts > 2024-02-06 10:09 | Report Abuse

Normally Genting Singapore will announce result a day earlier than GenB.
Once GenS result announce, share price could break RM5 if result very good.
Singapore dollars 3.54 could result more profit to GenB.

Posted by hng33 > 2024-02-06 10:10 | Report Abuse

Under normal circumference, FDA normally take 6 month to review clinical data before granted approval for commercialize to market. Since the submission done in July last year, it is about time for FDA to grant approval very soon now

Posted by hng33 > 2024-02-06 10:21 | Report Abuse

Once Genting Las legas reach optimal level operation, it will seek listing in NYEX as genting US to unlock these prime assets Genting will ultimate remain as holding company, control prime casino in various country under subsidiary namey GENM, GENS and GENUS

Bear in mind, Genting Las Vegas was built at cost USD 4.3 billion at time exchnge rate was USD = RM 4.00-4.30. Now, Genting Las Vegas have begin generate profit and exchange rate is at high RM 4.76, and if such rate is sustain and Genting las Vegas may seek earlier than expected to unlock Genting las vegas through IPO in New York exchange within 1-2 year time frame

https://www.youtube.com/watch?v=Cy_D6UA45AI

Posted by neohts > 2024-02-06 10:28 | Report Abuse

Genting Singapore - Ex rate - RM3.54
Genting US - Ex rate - RM4.76
Genting England - Ex rate - RM5.97

More Profit when convert to Ringgit Malaysia.

Posted by Fabien _the efficient capital allocator > 2024-02-06 11:31 | Report Abuse

Singapore Changi Airport’s passenger volumes are expected to reach pre-pandemic levels in 2024, the country’s transport ministry said in a written response to parliamentary questions.

Monthly passenger traffic recovered to around 90% of pre-Covid levels in December. For the full year of 2023, the airport handled 58.9 million passenger movements, or 86% of traffic recorded in 2019, the ministry said.

Singapore tourism on recovery path, bodes well for GENS

Posted by neohts > 2024-02-06 11:42 | Report Abuse

Once Taurx approved.......TP RM8.00.
Pray hard hard to God of Heaven on the Seven day of Chinese New Year.

Posted by AngTayKor > 2024-02-06 11:59 | Report Abuse

https://www.straitstimes.com/asia/eisai-expects-1500-alzheimers-patients-in-china-launch-sees-huge-growth

Posted by dragon328 > 2024-02-06 12:11 | Report Abuse

Genting is looking set to report another stellar quarterly result for Dec 2023.

GenS registered EBITDA of SGD350m and net profit of SGD216m for Sept 2023 quarter. If Marina Bay Sands latest quarterly result is of any indication, GenS should report higher earnings for Dec 2023 than Sept 2023. A presumed net profit of SGD220m for Dec 2023 will translate into SGD220m x 3.52 x 52.5% = RM406 million net profit contribution to Genting.

Genm reported core net profit of RM237 million for Sept 2023 quarter. To be conservative, I assume Genm to report a net profit of RM200m inline with Maybank's estimate. So Genm will contribute another RM100m of net profit contribution to Genting.

Contribution from GenS and Genm already amount to over RM500 million net profit to Genting, plus Genting Plantations, oil & gas division, power and property divisions. All in, I think it is not a big issue for Genting to achieve net profit close to RM550 million or EPS of 14 sen for Dec 2023 quarters and subsequent quarters. Full year EPS may be about 56 sen, inline with Maybank latest projection for FY2024.

Applying a historical average PER of 12x to 15x, Genting should be worth RM6.72 to RM8.40 per share just based on FY2024 earnings.

We have not yet added potential good news from TauRx and potential listing of the US assets, which should push the share price beyond RM10.

Posted by AngTayKor > 2024-02-06 13:36 | Report Abuse

Posted by neohts > 3 hours ago | Report Abuse
Normally Genting Singapore will announce result a day earlier than GenB.
Once GenS result announce, share price could break RM5 if result very good.
Singapore dollars 3.54 could result more profit to GenB.
---------------------

GenS QR usually abt 10 days before GenB. GenP's QR usually a day before GenM and GenB.

Posted by hng33 > 2024-02-06 13:36 | Report Abuse

Dragon328

GENTING Las Vegas currently is third largest profit contributor to GENTING, about half of GENM earning. However, if take into account effective stake, GENTING Las Vegas is almost in par if compared to GENM as it is wholly own by GENTING, whereas, GENM is 50% own by genting

Posted by hng33 > 2024-02-06 13:39 | Report Abuse

Moving forward, GENTING Las Vegas may surpass GENM, become second contributor to GENTING as Las Vegas operation gradually reach optimal level operation and US currency strengthen further.

Posted by AngTayKor > 2024-02-06 13:57 | Report Abuse

Posted by neohts > 16 minutes ago | Report Abuse
Once Taurx approved.......TP RM8.00.
Pray hard hard to God of Heaven on the Seven day of Chinese New Year.
-----------

Aiyo 初7 is 人日 la。初9 is Teekong 玉皇大帝 birthday. 15元宵节 is 天管赐福 - 上元赐福天管一品紫微大帝 birthday. Actually 初2 very important its 财神大黑天圣诞 (南无大福德自在圆满菩萨). Popi popi 🙏🙏

Posted by dragon328 > 2024-02-06 14:13 | Report Abuse

@hng33, yes Genting Las Vegas is becoming a significant earnings contributor to Genting as it is a 100%-owned subsidiary.

Genm EBITDA for Sept 2023 quarter was RM714m while Genting US & Bahamas EBITDA for Sept 2023 quarter was RM370m. Taking out minority interests, Genm contributed about RM355 million of EBITDA to Genting in Sept 2023 quarter, lower than the EBITDA contribution from Genting US. You are right there.

However, as Genting US subsidiaries are still suffering from high interest rates and higher gearing, so the net profit contribution from US Las Vegas is still not significant yet. Assuming total debts of about USD4.0 billion at Genting Las Vegas and average interest rates of 5.0% p.a., total interest expenses may amount to USD200 million a year, or USD50m or RM235m a quarter. So the EBITDA of RM370m per quarter will be knocked down to RM135m after interest expenses even before accounting for depreciation charges.

But things are looking brighter for Genting Las Vegas and New York Empire Resorts as US Fed is expected to reduce interest rates by at least 3 times in 2024. A 1% reduction in effective interest rates will reduce Genting Las Vegas' interest expenses by USD40 million and bump up profit contribution to Genting by RM188 million a year.

Posted by ChloeTai > 2024-02-06 14:49 | Report Abuse

I hope 26 Feb 2024 fast-fast come. All the sifu's here talking about calculation of Genting price for the coming good results. But this morning attemp to break 4.90 failed. And now going down.

Posted by hng33 > 2024-02-06 15:03 | Report Abuse

Dragon328

Genting US form largest assets for Genting = RM 25.8 billion, have smallest RM 1.5 billion liabilities

Genting Sing form second largest assets for Genting = RM 18.4 billion, also only small fraction of RM 1.76 billion is liabilities

Genting Malaysia form least assets RM 12 billion, but have highest liabilities RM 2.65 billion

Posted by dragon328 > 2024-02-06 15:32 | Report Abuse

@hng33, Yes I check the page on segmental assets & liabilities. But these liabilities figures here do not reflect the total borrowings of the group.

As of 30 Sept 2023, Genting had a total of USD 6.6 billion of borrowings in US dollars, and zero borrowing in Singapore dollar. I know Genting Singapore has zero borrowing but net cash of some SGD3.0 billion.

Out of the USD 6.6 billion borrowings, about USD1.75 billion sat in Genm (in Resorts World New York City and Empire Resorts), so there was some USD4.85 billion (or RM22.7 billion) of borrowing at Genting Las Vegas as of 30 Sept 2023 supporting the total asset value of RM25.8 billion.

Posted by dragon328 > 2024-02-06 15:33 | Report Abuse

So I need to revise my figures on interest savings above. For total borrowings of USD4.85 billion, a 1% interest rate reduction in 2024 will save interest expenses of Genting Las Vegas by USD48 million or RM228 million a year.

Posted by dragon328 > 2024-02-06 15:48 | Report Abuse

@ChloeTai, be patient. A rally will come sooner or later.

The previous rally to RM5.03 was halted by the news of related party transaction (RPT) of Genm injecting another USD100 million into Empire Resorts.

Actually to the market in general, the RPT did not bode well in the short term for Genm, but to me there is merit in that deal. Let me explain below.

Genm had about USD1.75 billion of US dollar borrowings as of 30 Sept 2023, and out of this, I estimate that USD800 million sat in Empire Resorts, and the balance USD750m in Resorts World New York City. Assuming an average interest rate of 5.5% p.a., total interest expenses at Empire Resorts amounted to USD44 million or RM206 million a year.
For 9 months ended 30 Sept 2023, Genm had a total share of losses from associates of RM170 million, the bulk of which was from Empire Resorts. You can see from above that interest expenses for the 9 months might have amounted to RM150 million. Hence Empire Resorts' operating losses for the 9 months were just about RM20 million.

Now with the USD100m injection from Genm, Empire Resorts' total borrowing can be lowered by USD100m and interest expenses can be lowered by USD5.5 million a year or RM19.3 million for 9 months.

This RPT will pave the way for a faster turnaround of Empire Resorts, as shown above. Furthermore, Empire Resort management earlier estimated that mobile sports betting could contribute USD40 million of EBITDA in 2024. So all things point to a positive turnaround of Empire Resorts in 2024.

With the latest RPT, Genm's effective shareholding in Empire Resorts will increase to 90% from 76% and hence Genm will be able to account for higher % of earnings from Empire Resorts when it is about to turn profitable.

So to me this is not a bad deal for Genm and Genting, it is just that the market's initial reaction to the RPT is negative as Empire Resorts was still loss making. But the market perception will change to positive once Empire Resorts turns around later this year.

Posted by ChloeTai > 2024-02-06 15:58 | Report Abuse

@Dragon328, yes I remember that one. Genting dropped 19 sen. Encik Riaz1954 always criticise Genting for this type of policy.

Posted by hng33 > 2024-02-06 16:27 | Report Abuse

Dragon328

The segmental assets & liabilities already fully reflect for each business division and countries operation.

These revenue generated business liabilities is much lower than Genting as whole group as Genting holding itself also incur borrowing for other investment purpose which is still in infancy stage, such as upstream exploration gas, investment in pre clinical and clinical pharmaceutical, vacant landbank, investment in JV and other minority stake, and any other business which have yet to generate any revenue. In addition, genting also incur borrowing o solely raise cash deposit in preparation to seize future business opportunity as reflect its interest income form half of its interest expense

Posted by dragon328 > 2024-02-06 16:30 | Report Abuse

@hng33, noted your point above.

I will need to try to find out more breakdown of the borrowings for each Genting entity.

But the anticipated interest rate cuts in the US in 2024 will benefit greatly Genting group as a whole. A lower interest rate will also make the asset value of Genting Las Vegas and New York casino asset higher and the amplifying effect is tremendous even for a 1% or 2% cut in interest rates.

Posted by ChloeTai > 2024-02-06 17:30 | Report Abuse

TauRx Pharmaceuticals Ltd., a global leader in Tau-based research in Alzheimer’s disease (AD), announced today that the company will present the 24-month data from its Phase III LUCIDITY trial of hydromethylthionine mesylate (HMTM) at the upcoming AD/PD™ 2024 Alzheimer's & Parkinson's Diseases Conference from 5-9 March 2024, in Lisbon, Portugal.

Posted by AngTayKor > 2024-02-06 17:58 | Report Abuse

Taurx live webcast AGM starting very soon....

Posted by RISK8888 > 2024-02-06 18:33 | Report Abuse

U see how the operator move the price, very sure it will hit rm5 soon. Very likely after cny.

Posted by Riaz1954 > 2024-02-06 19:35 | Report Abuse

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?

Posted by newbie2019 > 2024-02-06 23:17 | Report Abuse

3 more days to break 5?

Posted by Riaz1954 > 2024-02-07 10:07 | Report Abuse

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

Posted by ChloeTai > 2024-02-07 10:09 | Report Abuse

https://www.investing.com/equities/genting-international-earnings
Genting Singapore to release its earnings on 22 February 2024 after market.

Posted by hng33 > 2024-02-07 10:15 | Report Abuse

SGD = RM 3.55
USD = RM 4.76
Pound = RM 6.00

Posted by hng33 > 2024-02-07 10:18 | Report Abuse

Courting down time for Genting to breakout RM 4.90 and RM 5.00 very soon

Posted by ChloeTai > 2024-02-07 10:30 | Report Abuse

My remisier HLIB told me that this Friday (CNY eve) is a whole day trading.

Posted by hng33 > 2024-02-07 10:33 | Report Abuse

SGD = RM 3.55 is new record breaking. But, these exchange strength only can reflect in following Q result release in May later. Be patient to entitle coming dividend first by end of these month, and await for record breaking following Q next in May 2024

Posted by Michael_chan2022 > 2024-02-07 11:45 | Report Abuse

https://www.sinchew.com.my/?p=5377287

马币跌跌不休..

Posted by ChloeTai > 2024-02-07 11:51 | Report Abuse

What Riaz1954 said is true. The CEO of Genting has already instructed the market maker to Q 4,788 shares at 4.90. If like this, even if the 4th quarter results beat expectation, it will stay at 4.90 and below.

Posted by Michael_chan2022 > 2024-02-07 12:00 | Report Abuse

Don't worry.. expand your market horizon. In 2 to 3 years, the share price should reach RM9 😀

Posted by Riaz1954 > 2024-02-07 12:29 | Report Abuse

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.

Posted by Riaz1954 > 2024-02-07 12:48 | Report Abuse

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.

Posted by hng33 > 2024-02-07 14:48 | Report Abuse

Bruce Lee exhibition in Genting. The First Tour at Times Square Stage, SkyAvenue! Kongfu Genting Go Go Go

https://www.facebook.com/photo/?fbid=789848119850321&set=pcb.789848286516971

Posted by ChloeTai > 2024-02-07 16:19 | Report Abuse

Each mountain is higher than the previous mountain.

Posted by James_Bond > 2024-02-07 16:40 | Report Abuse

Be informed that I m taking profits slowly… thanks…

Posted by Michael_chan2022 > 2024-02-07 16:56 | Report Abuse

https://www.klsescreener.com/v2/news/view/1274511/%E7%8B%AC%E5%AE%B6-%E6%9E%97%E5%9B%BD%E6%B3%B0%E9%9B%84%E9%A3%8E%E5%86%8D%E8%B5%B7-%E6%9B%BE%E7%AB%8B%E5%BC%BA%E5%85%AC%E5%8F%B8%E9%81%87%E6%8C%AB-%E5%8D%9A%E5%BD%A9%E5%8F%8C%E9%9B%84%E9%A1%BA%E6%B5%81%E9%80%86%E6%B5%81

2024輪到云頂双雄...隆重登場! 龍年一路發，好運一整年

Posted by Michael_chan2022 > 2024-02-07 16:56 | Report Abuse

祝大家龍年行大运，好事连连，万事如意!

Posted by ChloeTai > 2024-02-07 17:00 | Report Abuse

Riaz1954 said fleet-footed and nimble.
"Save" said collect before CNY. After CNY and before 4th quarter results would go up. After 4th quarter results, got to wait another three more months of up and down.