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

Source = TAK
RWLV is 100% financed in USD

Source => New York Times
Trump's casino is so heavily indebted it has no chance of survival

Conclusion => RM18 Billion write off.

Posted by eagleye > 2 weeks ago | Report Abuse

https://theedgemalaysia.com/node/726971

Genting Malaysia units issue additional US$100m senior notes at
7.25%

KUALA LUMPUR (Sept 17): Two of Genting Malaysia Bhd’s (KL:GENM) subsidiaries, video lottery facility operator Genting New York LLC (Genny) and its unit Genny Capital Inc, have priced an additional US$100 million (RM427 million) of
7.25%
senior unsecured notes, due 2029.

This came after the two indirect wholly-owned units priced an offering of US$525 million of
7.25%
senior unsecured notes, also due 2029, last Tuesday.

"These additional notes form part of the same series as the initial US$525 million aggregate principal amount of notes that were priced on Sept 10, 2024 (initial notes) and the additional notes will carry the same terms as the initial notes," Genting Malaysia said in a bourse filing Tuesday.

Net proceeds from the additional corporate notes will be used to repay existing debts. “Approval in-principle has been received for the listing of the notes on the Singapore Exchange Securities Trading Ltd,” it said.

Post-issuance, Genting Malaysia’s gross borrowings is expected to increase to RM17.69 billion
from RM14.98 billion.
Net gearing is expected to increase to 1.04 times from 0.81 times.

S&P Global Ratings has assigned a BB+ (stable) rating to the notes, with Fitch Ratings Ltd opting for BBB- (negative).

Genting Malaysia said the additional notes have been offered and sold only to individuals reasonably believed to be qualified institutional buyers without having to register the notes based on the US Securities Act 1993's requirements for exemption from registration, and to certain non-US individuals in transactions outside the US.

"The notes have not been registered under the Securities Act or any state or other jurisdiction’s securities laws. Accordingly, the notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and any applicable state or other jurisdiction’s securities laws," it said.

Posted by newbie2019 > 2 weeks ago | Report Abuse

pandai

Posted by AngTayKor > 2 weeks ago | Report Abuse

Posted by Balian de Ibelin > 16 minutes ago | Report Abuse
Source = TAK
RWLV is 100% financed in USD
Source => New York Times
Trump's casino is so heavily indebted it has no chance of survival
Conclusion => RM18 Billion write off.
------------


Not 100% financed la. I said RWLV is largely financed by debt. I read a Nomura report some years ago talking abt it but cannot remember the details. RWLV can go for IPO next time but duno when because kena Nevada Gaming Commission money laundering charges + RWLV may take many more years to turn in real accounting Net Profit.

Posted by ImCK > 2 weeks ago | Report Abuse

ATK the depreciate is too huge 4billion property unless go listing ipo to unlock the value

Posted by ImCK > 2 weeks ago | Report Abuse

4billon usd depreciate convert to MYR is 16billion depreciate

Posted by neohts > 2 weeks ago | Report Abuse

willing buy willing sell......All luck.
Normally after you bought, the share will go down.
After you have sold, the share price will go up.
All luck.

Posted by KooSan > 2 weeks ago | Report Abuse

Judging from all these borrowings, IPO is a necessity

Posted by EDwarrior > 2 weeks ago | Report Abuse

Gg ... hold or sell? Genting can't fly? Why? This company has value.....more than RM 5 or above. But still dropping

Posted by DonCandleone > 2 weeks ago | Report Abuse

Wait for rate cut first, see if it will do anything.

Posted by AngTayKor > 2 weeks ago | Report Abuse

Posted by MoneyMakers > 1 day ago | Report Abuse
@PrudentInv No leh rate cuts good 4 economy/stocks
See Dow alrdy up 300pts tonite - this week easily jump 1,000pts (power of rate cuts)
---------


@EDwarrior, got people say fed cut rate so this week dow will rocket over 1000 pts wor. Popi popi 🙏

Posted by EDwarrior > 2 weeks ago | Report Abuse

100% will rate cut 0.20 ....but genting still dropping

Posted by MoneyMakers > 2 weeks ago | Report Abuse

Nice bullish closing 4.11 - tonite wait good news (Fed rate cut) tomorrow rocket

Posted by DonCandleone > 2 weeks ago | Report Abuse

How the hell is that a bullish closing MM? Are you viewing the right stock?

Posted by AngTayKor > 2 weeks ago | Report Abuse

@DonC you are new here. But we have seen MM doing evil bad karma tactics here for years. His comments will depend on his position in this stock. Before buying, MM will do fear mongering this stock non-stop. After he bought, roti prata flip U-turn and start promoting non-stop.



Posted by MoneyMakers > | Report Abuse
No wonder soo cheap
US regulator sue RWLV (money laundering violation) + GenS QR terrible
------------
Dont bother with TauRx - got hundreds other alzheimer med under Phase 2/3 clinical trials
Current share price values TauRx at 0 - so TauRx failure only minimal affect share price
------------
Stuck even when bursa up 1650 pts
Feel people wait sell expecting bad QR soon
-----------
2 more days margin call b4 bad QR (expected Thur) - lets see how low can go
-----------
Late selloff continue ystrdy red
Seems people want exit b4 bad QR (GenS bad) out
-----------
Crazy evening selloff - wait&see how bad QR later
-----------
Woww big revenue drop + profit cut half..bad econ people no money travel??
Ystrdy Dollar General shares drop 30% after bad QR (weak consumer)
Economy soo bad..GB Q2 revenue alrdy drop 1st time - disaster if nxt QR more revenue drop
-----------
2023 still ‘covid recovery’ so shouldnt compare y-o-y
Q2 suppose seasonally strong (raya holiday etc) but QR soo bad - Q3 later even worse??
-----------
Everywhere weak economy - GenS/GenM alrdy affected Inflation destroy wealth
-----------
Walao afternoon red alrdy - just need break under 4.30 then bye2
-----------
If GB future soo good (look forward) - wouldnt be 4.3 now
******************

<Before MM buy, he will always do his evil bad karma tactics non-stop fear mongering here>



Posted by MoneyMakers > | Report Abuse
Will join hibernate 2weeks (mybe longer)
Gdluck all hodlers - nonhodler dont missout collect cheap
-----------
Last chance collect cheap b4 nxt week rocket (div + Fed rate cut)
----------
@PrudentInv No leh rate cuts good 4 economy/stocks
See Dow alrdy up 300pts tonite - this week easily jump 1,000pts (power of rate cuts)
---------
Welcome to Fed rate cut week - hopefully GB follow US market huge rally
Fasten seatbelt & ready to rocket
---------
Boring/flat day..let it rest after 2 green day
Hopefully tomorrow Fed rate cut can refill rocket fuel
----------
Nice bullish closing 4.11 - tonite wait good news (Fed rate cut) tomorrow rocket
*******************

After MM bought liow, he will roti prata U-turn encouraging others to buy. Its very predictable la happened many times already. Wishing all holders good luck (including to MM himself la since he just bought), then start encouraging those who have not bought to buy (dont miss collect while its "cheap").

Posted by DonCandleone > 2 weeks ago | Report Abuse

Alamak...like that ah!

So it's not even the first time😮

That's not very ethical now, is it?😥

Posted by MoneyMakers > 2 weeks ago | Report Abuse

@DonC Normal lo got red/green day - need see bigger TA picture

Today red looks bullish to me..just wait&see tomorrow lo

Posted by DonCandleone > 2 weeks ago | Report Abuse

Posted by MoneyMakers > 53 seconds ago | Report Abuse

@DonC Normal lo got red/green day - need see bigger TA picture

Today red looks bullish to me..just wait&see tomorrow lo

----------------------------------------

Bro there is no way you just said that, I think dont dig a deeper hole sia.

Still got time to delete this...

Red also bullish?😮

Posted by choysun > 2 weeks ago | Report Abuse

Short position increased to 9.04m as of yesterday. I suppose today increased again. Today hit 4.10 but still queue tak dapat. Tomorrow should get gua. :)

Posted by kent9988 > 2 weeks ago | Report Abuse

马币从7月开始起了10% 有没人可以estimate下个季度GB外汇盈利是多少

Posted by newbie2019 > 2 weeks ago | Report Abuse

9.04m…. damn… shortlist sot oledi

Posted by Peaches L > 2 weeks ago | Report Abuse

US Fed rate cut by 0.5%

Posted by choysun > 2 weeks ago | Report Abuse

Short position 8.39m. Covered more than 600k yesterday, so some sold coz of FED cut? Now 50 bps cut, good? Hmm.

Posted by newbie2019 > 2 weeks ago | Report Abuse

can buy oledi?

Posted by newbie2019 > 2 weeks ago | Report Abuse

not yet 4 leh

Posted by prudentinvestor > 2 weeks ago | Report Abuse

Now trading at less than half its nta of RM8.94 a share. How much further can it fall?

Posted by newbie2019 > 2 weeks ago | Report Abuse

aiming 4 mah

Posted by EDwarrior > 2 weeks ago | Report Abuse

0.5 rate cut plus rebound of MYR. I think will boost or improve Genting earning and profit.

Posted by EDwarrior > 2 weeks ago | Report Abuse

Remember rate cut 0.5 is not huge because previously interest rates is 5.50%. So now is 5%.. still a lot for those companies who are borrowing money from the US. By the way rate cut still good for us as reducing the financing cost.

Posted by ngwt > 2 weeks ago | Report Abuse

kent9988 : if GB hv 1 billion USD asset in USA, GB will value asset as RM 4.8 billion (1: 4.80). For example, our currency currently at 1:4.30, then, USD asset will reduce to RM4.3 billion when convert to our MYR currency. So, in this case, GB will be get forex gain or loss ?

Posted by prudentinvestor > 2 weeks ago | Report Abuse

"aiming 4 mah"
I think the probability for Genting to consolidate at around this level for a short while before moving up is much higher than its probability of dropping to RM4.

Posted by i3gambler > 2 weeks ago | Report Abuse

Base on latest quarterly result.
1) GENM's USD borrowings = RM8089m, i.e. RM3990m effectively belong to GENTING.
2) GENP's USD borrowings = RM955m, i.e. RM529m effectively belong to GENTING.
3) GENTING's USD borrowings = RM30872m, i.e. 30872-8089-955=RM21827m is GENTING own borrowings.

So total GENTING's USD borrowings = 3990+529+21827=RM26347m.
A 0.5% reduction in interest rate will save GENTING about 26347*0.005=RM132m.
Or EPS will increase by 3.4 sen, apply a PE of 8 times, GENTING fair value should go up by 27 sen.

Posted by newbie2019 > 2 weeks ago | Report Abuse

the loan or debts are fixed interest rate oledi la… unless refinancing happening soon else paying old rates kan???

Posted by EDwarrior > 2 weeks ago | Report Abuse

Asset revaluation does not show on P& L la... u are not going to sell it ...lol. let everyone know u are smart lol.
Only sell it just display on P&L.

Posted by EDwarrior > 2 weeks ago | Report Abuse

U better restudy ur acc knowledge...

Posted by Michaelchan2024 > 2 weeks ago | Report Abuse

The Federal Reserve’s decision to cut interest rates by 0.5%..and signal further reductions over the next few years is generally positive for Genting Berhad in several ways...

Policymakers see the Fed’s benchmark rate falling by another half of a percentage point by the end of 2024, another full percentage point in 2025, and by a final half of a percentage point in 2026 to end in a 2.75 per cent to 3 per per cent range.

Posted by Michaelchan2024 > 2 weeks ago | Report Abuse

Genting Berhad has substantial USD-denominated debt, amounting to about USD 6.53 billion. The Fed’s decision to lower rates reduces Genting’s interest expenses on its USD borrowings...leading to immediate savings on debt servicing (recurring benefits). As interest rates fall further over the next few years, these savings will likely continue to improve Genting’s cash flow.

Posted by Michaelchan2024 > 2 weeks ago | Report Abuse

interest rates generally boost economic activity by encouraging borrowing and investment. Genting’s U.S. operations, such as RWLV, RWNYC and Empire Resorts, could benefit from increased consumer spending, driven by improved economic conditions and cheaper financing options for U.S. consumers.

Posted by Michaelchan2024 > 2 weeks ago | Report Abuse

Genting Berhad holds significant assets in the U.S., Singapore and UK. These assets contribute to its NAV but are vulnerable to exchange rate fluctuations. When the USD, SGD weakens against the MYR, the value of U.S. assets in MYR terms decreases, affecting the company’s overall balance sheet and potentially its stock valuation.

Posted by Michaelchan2024 > 2 weeks ago | Report Abuse

Since Genting Berhad is trading significantly below its NAV, the market may already be factoring in the risks and uncertainties surrounding these assets, including currency fluctuations and the performance of U.S. operations. As a result, further reductions in U.S. asset values due to a weaker USD may not have an immediate or substantial impact on the share price, as it is already deeply discounted.

Posted by Michaelchan2024 > 2 weeks ago | Report Abuse

The Fed’s rate cuts provide a strong tailwind for Genting Berhad's potential U.S. IPO. The combination of lower borrowing costs, stronger consumer demand and improved equity valuations increases the likelihood of success for Genting’s IPO of RWLV, RWNYC and Empire Resorts..

Posted by Michaelchan2024 > 1 week ago | Report Abuse

I won’t respond to comments..

Posted by Michaelchan2024 > 1 week ago | Report Abuse

If the current USDMYR exchange rate of 4.3 is sustainable, then Genting will benefit from the lower cost of servicing its substantial USD debt on a recurring basis, for as long as this exchange rate remains stable..

Posted by MoneyMakers > 1 week ago | Report Abuse

Fed cut 0.5% + more cuts coming

Just 1% rate cut (30Bil debt) get extra 300Mil/yr profit

2% rate cut = extra 600Mil profit..easy money

Posted by keyman > 1 week ago | Report Abuse

哎呦 会买的就是会买... 就算是从5块... 一路亏着买到今天的 4块1 还是能自我安慰说, 你看nta 8.9喔 半价喔... 不买就傻了.... 懂的... 我们当时就是这样走过来的咯.... 🤭

Posted by EDwarrior > 1 week ago | Report Abuse

马来西亚没有股买了

Posted by keyman > 1 week ago | Report Abuse

But heartily, how many of us that are really gain profit from genting.... Dont tell me, at least I am not the one....

Posted by EDwarrior > 1 week ago | Report Abuse

usually blue-chip companies always higher than its NTA. Therefore, Genting can do it as well.

Posted by Michaelchan2024 > 1 week ago | Report Abuse

With the decline in the USDMYR exchange rate from RM4.71 to RM4.3, Genting Berhad has effectively reduced its USD-denominated borrowings.. which total USD 6.53 billion, by approximately RM2.6 billion. Moreover, if the USDMYR exchange rate drops further to RM4.0 by 2025, an additional debt reduction of around RM1.9 billion is anticipated.

Analysts' net debt forecasts for Genting Berhad appear achievable:

2023: MYR 15,000 million
2024: MYR 13,157 million
2025: MYR 11,072 million
2026: MYR 8,978 million.

This progressive reduction strengthens the company's financial position and prospects.

Posted by Michaelchan2024 > 1 week ago | Report Abuse

It's easy to calculate the savings on interest due to the reduction in debt. By applying the 5% interest rate to the debt reduction..we can estimate the recurring annual savings..