Posted by neohts > 3 days ago | Report Abuse

https://theedgemalaysia.com/node/718932

KUALA LUMPUR (July 15): Maybank Investment Bank (IB) said it's the “last calls for bets” in a note on Monday for Genting Bhd (KL:GENTING), whose sum-of-parts (SOP)-based target price (TP) may be raised to RM9.35, if its 20%-owned TauRx Pharmaceuticals ends up getting valued at US$15 billion (RM70.11 billion).

The research house maintained its 'buy' rating for Genting, with an unchanged TP of RM5.84, despite the group's 'lacklustre' share price. At the time of writing on Monday, Genting shares had fallen two sen or 0.4% to RM4.56, valuing the group at RM17.7 billion.

Despite Maybank IB’s longrunning optimism, investors remained cautious on the prospects of TauRx especially after US Food and Drug Administration (FDA) in March delayed its decision on Eli Lilly’s Alzheimer’s drug experimental treatment for early Alzheimer's disease. The delay by the FDA was the second after the regulator declined to grant accelerated approval for the medicine a year ago.
Requests for "Fast Track" designation are made by drug companies, and the US FDA will review and decide on the request "based on whether the drug fills an unmet medical need in a serious condition", according to the regulator's website.

Genting's share price has eased 2% year-to-date, while the FBM KLCI has appreciated 11%.

Maybank believes this is unfounded, considering that Genting’s earnings have been recovering well to near pre-Covid levels, driven by the return of visitors to both 49%-owned Resorts World Genting and 53%-owned Resorts World Sentosa.

The house said Genting's share price weakness was the result of foreign selling, due to a weaker ringgit against the US dollar. It opined that the foreign selling is likely to taper.

“We notice that there is a strong correlation between Genting's discount to SOP/share and the MYR/USD.
“Our foreign exchange research team forecasts the USD/MYR to recover to 4.600 by end-2024, and 4.500 by mid-2025, from 4.718 as at June 30.

“We expect this to narrow Genting's valuation discount to SOP/share to 60% (as per the level in the financial year ended Dec 31, 2022), from 65% currently,” the house added.

On July 1, TauRx announced its submission of the UK marketing authorisation application for an experimental drug, hydromethylthionine mesylate (HMTM), for the treatment of mild cognitive impairment and mild to moderate stages of Alzheimer’s.

If HMTM is approved by year end, the research house expects the pharmaceutical company to be valued up to US$15 billion, achieving Maybank’s forecast TP for Genting.

Posted by Casual_Analyst > 3 days ago | Report Abuse

@AngTayKor, I know usually all the IB's valuation are BS, but is the USD15B valuation for Taurx fair? Do you know what's the OTC price/valuation for Taurx at the moment? :)

Posted by prudentinvestor > 3 days ago | Report Abuse

Now moving further from its recent low of RM4.50 and with stronger momentum. Moving to RM5.00 again.

Posted by Casual_Analyst > 3 days ago | Report Abuse

@AngTayKor haha thanks. anyway, what's Taurx most recent fundraising round's valuation again?

Posted by AngTayKor > 3 days ago | Report Abuse

After UK approval usd15b valuation confirm way to high la. If UK + EU + China CAs secured (global mkt ex-usa), maybe usd15b can. Maybank analyst siow kia, not too long ago put taurx at usd1b value. Need to see if UK giving us Full Approval or Conditional Approval.

Posted by speakup > 3 days ago | Report Abuse

A lot of ppl think Genting is only Gaming But real investors know Genting is much more than that. Genting got Property, Plantations, Power and Healthcare too..

Posted by Hong9933 > 3 days ago | Report Abuse

Gogogo

Posted by Save > 3 days ago | Report Abuse

Today witnessing real 破底（4.65）翻. Maybank IB vs retail investors

Posted by AngTayKor > 3 days ago | Report Abuse

Last round was rights/ warrant exercise at usd1.5b but its for the very hardcore brave shareholders like ATK to swop in n bet showhand buy very big. Taurx still has reasonably good cash level with no cash burning clinical trials anytime soon. I think next fund raising will be after securing as many CAs as possible to bring up value first, then do a pre-ipo fund raising.

Posted by Kobayashi73 > 3 days ago | Report Abuse

打了强心针

Posted by AngTayKor > 3 days ago | Report Abuse

@neohts, its maybank IB again! 😀

Posted by hw0706 > 3 days ago | Report Abuse

Genting also in Energy

Posted by KooSan > 3 days ago | Report Abuse

Why so huat today? IB sapu kah?

Posted by AngTayKor > 2 days ago | Report Abuse

Posted by Johnchew123 > 4 days ago | Report Abuse
Game Over = Genting , this stock no local n foreign BUY , situpid investor buy let losses run
Local n foreign fund all in contruction stock since second half 1 July start ,smart investor Buy let profit run
200 MA sudah koyak follow GenM ,now slowly plunge
Curent share price slowly plunge reflect QR August decrease ,once confirm decrease profit , 4.30 gurantee touch , sleeping another 3 month until further notice
------------

@Johnchew dont be too bearish leh... every dog will have its day 😀

Posted by BryanW > 2 days ago | Report Abuse

Brader finally wake up after sleeping for ages

Posted by surviver > 2 days ago | Report Abuse

I'm currently holding shares purchased at MYR 4.60. I'm considering my options and was hoping to get some insights from experienced KLSE investors. Any thoughts on factors I should consider when making my decision to hold or sell?

Posted by Save > 2 days ago | Report Abuse

Today may be a one day show because Genting Singapore is not moving together, Maybank IB trap again? real breakout is expected in early August when Genting Singapore QR release.

Posted by bullrun168 > 2 days ago | Report Abuse

Wow, Fantastics !
Now Genting was traded @RM4.79 (+0.21) (+4.6 %)
Heng ah, Ong ah, Huat ah !

Posted by speakup > 2 days ago | Report Abuse

Speakup bought Cmsb rm1, Myeg 80sen. Today your chance to buy Genting cheaper than speakup! Don't wait until Genting rm6 then see speakup bought so cheap ya

Posted by eagleye > 2 days ago | Report Abuse

GB forum so peaceful when
money conman not posting rubbish.
GB stk price also shot up when
money conman not posting rubbish.

Posted by ClaraChan94 > 2 days ago | Report Abuse

Maybank is the biggest buyer of Genting today ? 😁

Posted by neohts > 2 days ago | Report Abuse

Maybank is the biggest seller and not buyer. Same style same announcement everytime when someone has push the price to lowest and accumulate at lowest price then asking Maybank to announce good news and sell at highest price. So many times.

Posted by neohts > 2 days ago | Report Abuse

You still has the chance to buy low as same thing will happen again and again.

Posted by Balian de Ibelin > 2 days ago | Report Abuse

no worries
tomorrow back to 4.60

Posted by RInvest > 2 days ago | Report Abuse

In my opinion, TauRX is a bonus ....

Posted by neohts > 2 days ago | Report Abuse

If TauRX really could approved this year, we should keep or buy more. TP RM6.50 should not be a problem.

Posted by AngTayKor > 2 days ago | Report Abuse

If...

Posted by AngTayKor > 2 days ago | Report Abuse

Which territory? UAE + UK + USA + EU + CHINA (royal flush) all in, confirm 6.50 no problem

Posted by Michaelchan2024 > 2 days ago | Report Abuse

Finally, I have time to check GenB's share price... a good harvest day for Genting. Go go GenB

Posted by KooSan > 2 days ago | Report Abuse

Trump will push GB!...Hahahah Suddenly Trump is now the hero and already a President

Posted by surewinbaby > 2 days ago | Report Abuse

Wait for Rm 5 to sell...

Posted by surewinbaby > 2 days ago | Report Abuse

Wait for Rm 5 to sell...

Posted by rohank71 > 2 days ago | Report Abuse

just buy and hold ... 8.00 is coming in 24 mths once US rates down, and O&G business propels the group higher. remember, SG business is super solid, just a bump now...soon, Gent SG will perform better once the overhang of new investment is over.

Posted by rohank71 > 2 days ago | Report Abuse

best low hanging fruit in the market. Big cap with good volume. don't miss the chance. enjoy the ride all the way...once break 5.50 it will run FAR.

Posted by Michaelchan2024 > 2 days ago | Report Abuse

https://www.cnbc.com/2024/07/15/powell-indicates-fed-wont-wait-until-inflation-is-down-to-2percent-before-cutting-rates.html
Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates

1.00 US Dollar = 4.672 MYR

马屁精 is right,
Don't be conned and
don't be cheated..

Posted by Michaelchan2024 > 2 days ago | Report Abuse

https://www.aljazeera.com/economy/2024/7/15/malaysia-is-building-malls-like-crazy-but-shoppers-arent-coming
Malaysia is building malls like crazy – but shoppers aren’t coming

Resorts World Genting is crowded with people. Lai lai.. RWG welcome all.

Posted by speakup > 2 days ago | Report Abuse

unlike some sifus who like to promote kuat kuat after their share already shoot up 30% 50% 100%, speakup is different. speakup let u all buy Genting cheaper than speakup entry!

Posted by speakup > 2 days ago | Report Abuse

speakup sitting on paper loss in Genting.
tapi tapa, speakup last time bought Cimb rm3.80 then it drop to rm3! a Massive 21% paper loss in Cimb! but look where Cimb is now. Genting will be same.

Posted by speakup > 2 days ago | Report Abuse

Congratulations those who bought cheaper than me.
Now let's Huat Together!

Posted by Save > 2 days ago | Report Abuse

Foreign fund nett buying Day 12 yesterday +327M, KLCI short term target 1630 reached. Any successful breakout today will bring KLCI towards 1680! Is Genting turn this round? Watch 4.85

Posted by neohts > 2 days ago | Report Abuse

https://www.thestar.com.my/business/business-news/2024/07/16/gentings-earnings-recovery-a-win

“We understand that TauRx ought to receive a reply by year end.

“Based on our estimates, if HMTM is approved and TauRx is valued at US$15bil, our SOP-based target price (TP) for Genting could be raised to RM9.35,” it noted.

In light of more favourable conditions, Maybank IB Research said it will maintain its “buy” call on Genting with a RM5.84 TP.

Posted by rickygiam > 2 days ago | Report Abuse

GenB no strength....

Posted by AngTayKor > 2 days ago | Report Abuse

Posted by Balian de Ibelin > 17 hours ago | Report Abuse
no worries
tomorrow back to 4.60
--------------


A day trading whale. One day's lunch at a time.

Posted by Riaz1954 > 2 days ago | Report Abuse

Here we go again! It is same IB from Maybank periodic pushing Gentings case. It is perennial, some family member is selling! Also don’t keep
Blaming foreign funds, selling, look at their holdings no significant change in holdings from
What I can see. I still think worth waiting until year end. One may see something happening during 4th qtr!

Posted by Kikilala3188 > 2 days ago | Report Abuse

Hi sir @riaz1954

4th quarter something exciting?

Posted by neohts > 2 days ago | Report Abuse

I hope this round could break RM5 before TauRX year end approval.

Posted by Save > 2 days ago | Report Abuse

Let's hoping August Q2 results release >10sen and dividend>7sen, RM5 can be touched.

Posted by Save > 2 days ago | Report Abuse

It seems that local institutions and retailers are unloading shares anything above 1630 recently.......

Posted by Riaz1954 > 2 days ago | Report Abuse

Large volume of sales…. Guess who that must be? Ask Maybank they have this periodic push log Genting only immediately to be called by sales. Jokers

Posted by Riaz1954 > 2 days ago | Report Abuse

@save they may be selling anything above that 1630 fair dues, but Genting has made no such recovery all other counters have had a good run! Except Genting and still we have faith in the old far. Only saviour is TauRX and MHRA and not US as they won’t approve non US based pharmaceuticals unless they have huge presence in US. US by this means is not open market for sure just pretend.